Max Life Insurance announced ‘Max Life Saral Jeevan Bima’, a standard term life insurance plan. The term life insurance policy is designed to offer financial protection to customers alongside simple, easy-to-understand policy features. Max Life Saral Jeevan Bima (Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance Plan) UIN 104N117V01 is a standard pure term plan meant for all individuals irrespective of their education or occupation. It is a simple life insurance plan that ensures financial security for your loved ones.
What is Max Life Saral Jeevan Bima?
It is a standard product that will make it easier for you to get adequate life cover. It has been designed to help policy buyers make an informed choice of life insurance. Under this plan, you can choose the sum assured as low as Rs. 5 Lakhs to financially protect your family.
In case of your unfortunate demise during the policy period, the nominee will receive a death benefit to deal with various expenses in life. You can select a suitable premium payment variant fitting well into your financial plan. If you have never purchased any term plan because of education or occupation checks, now is the time to cover your life under this simple term plan.
Max Life Saral Jeevan Bima Benefits:
- Financial Security for Family: The death benefit is payable to the policy nominee in case of your unfortunate demise during the plan tenure.
- Flexibility to Choose Policy Term: It is easy to choose a policy term of 5 to 40 years as per the corresponding premium payment tenure.
- Least Restrictions to Get Life Coverage: You can buy this simple term plan irrespective of restrictions of education and occupation.
- Tax Savings: The premium you pay to keep this plan in force is eligible for tax deductions as per prevailing tax laws.
Who Should Buy Max Life Saral Jeevan Bima?
- If you are unmarried: You may need this term plan for your parents to help them live a comfortable life in your absence.
- If you are recently married: You can plan for the well-being of your spouse under this policy. It will work as a financial backup for him/her for the later years of life.
- If you have kids: This plan will support your family, financially in your absence in various ways, be it meeting regular expenses or paying for kids’ education.
According to the findings of Max Life’s recent survey ‘India Protection Quotient 3.0’ in association with KANTAR, it was revealed that 33 percent of non-term plan owners across urban India were unaware of term plan availability and believed high premiums have to be paid for it, which served as a barrier in their term plan purchase. The company says the new ‘Max Life Saral Jeevan Bima’ will offer simplified financial protection to customers.