One of the sad truths of life is that we all face that moment when all of it goes away. Of course, none of us are really prepared for those moments which take our breath away, in a very different way. We can however plan, if such a thing happens, when we least expect it, so that our loved ones are taken care of. While we may not be there personally in those moments of stress and need, we can at least plan in such a way that such stressful moments of life be taken care of, at least financially.
Life insurance is one of the ways we try to make provisions for such calamities in our lives. For such a moment, term plans have been developed which can help your family meet the basic household expenses and rentals, in such cases of emergencies. However choosing the suitable term plan becomes a difficult game altogether. The coverage of the term plan should suffice your family to maintain their lifestyle, address concerns of inflation in monthly payout and take care of periodical liabilities, if any, like a home loan. It accommodates various needs which may arise during different stages of a person’s life. These stages could be due to life altering moments of personal value like the marriage of your daughter, or for situations when you may need financial support due to disability from different reasons. Term plans need to be designed to accommodate all these challenges and needs of your family, when due to a stroke of bad luck, you are unable to stay by their side, and see them through it as you planned.
Max Life Insurance offers one of the most flexible and well researched portfolio of benefits as a product for term insurance. Life insurance policies and plans from Max Life are not only well researched, but they cater to the variety of needs of the Indian population. Max Life Insurance is a joint venture between Max India and the Mitsui Sumitomo Insurance Group from Japan; Max Healthcare, and Max Neeman, and focuses on providing life insurance products of different types. By far, this is more beneficial than its competitors simply because of the wide range of features and flexibility it provides through its coverage.
Here are the three benefit options under their Online Term plan:
- Max Life Online Term Plan Basic Life Cover: This is the most affordable plan where death benefits are in the form of a lump sum payment to beneficiaries. It includes key features such as 30-day Free-Look period and lower premiums for non-smokers.
- Max Life Online Term Plan Life Cover + Monthly Income: This plan offers beneficiaries a lump sum with additional monthly payments over the next 10 years. The plan is available for those within the 18 to 60 year old bracket
- Max Life Online Term Plan Life Cover + Increasing Monthly Income: Similar to the above plan, this one offers a 10% year on year increase in monthly payments to combat increase in costs of living or inflation.
Max Life Insurance has the highest percent (among private companies) for Individual death claims paid in the 2016 Financial Year. #MaxLifeTermPlan