Of the many things, you can do as a responsible individual, making a sound financial plan for yourself and your loved ones is undoubtedly critical. Doing so ensures safety, security, and protection for your family, especially against life’s unforeseen eventualities. Being on the safer side is always a smart idea, so staying prepared in advance can help you tackle any situation in a better manner, ensuring neither you nor your family members have to go through any financial crisis.

Probably, one of the easiest and the simplest ways to stay prepared against anything that life might throw your way is to get a life insurance plan. And one such type of life insurance that has become increasingly popular in recent years is – Term Insurance Policy.  

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Today, term insurance plans can help solidify your financial portfolio comprehensively due to the many features and benefits it offers, such as limited pay plans, increasing coverage plans, phased pay-out plans, return of premium plans, and many other features. Although having so many options is beneficial, it may also make it difficult for most of us to determine which plan to purchase. 

It is pretty simple – opt for a term insurance plan that can comprehensively cover all bases and is developed keeping in mind your distinctive requirements.

Introducing Max Life’s New Term Insurance – Max Life Smart Secure Plus Plan

In a rapidly evolving economy, keeping track of rising expenditures can be difficult. You’ll need to have a backup plan that can adapt to your family’s changing financial needs. The Max Life Smart Secure Plus Plan – a new version of Max Life term insurance, can help you build safety and financial net for your loved ones with its comprehensive policy features. Ensuring that all your insurance needs are completely covered, Max Life Insurance’s new term insurance can act as your one-stop solution for all of your financial security concerns. 

Benefits of Max Life Smart Secure Plus Plan

Everyone has uniquely distinctive needs, and the new term insurance – Max Life Smart Secure Plus Plan, offers an extensive range of options that helps you effectively customise your term plan, suiting them to your requirements. 

If you still need more understanding about the benefits of the new term insurance plan from Max Life Insurance, read the top main features of Max Life Smart Term Plan, and they benefit you below.

• Death Benefit

With the option of Life Cover or Increasing Life Cover that is provided under the Max Life smart secure plus plan, you can expertly develop a solid financial assistance system for your near and dear ones. This plan enables you to explore different customizable variants and ensures you choose a plan that ensures that the guaranteed sum assured is adequately sufficient for the future. 

As the key goal of almost every term insurance plan is to cover the policyholder’s life and financial obligations, you must choose the life cover option after carefully understanding and mapping your future financial requirements. It is always recommended that you choose a life cover option that matches your financial objectives appropriately.

• Terminal Illness Cover

With the new Max Life term insurance, you can take care of your financial need, in case you ever get diagnosed with a critical, terminal illness. Such illnesses can come as a surprise as it is; to top that, arranging funds for expensive treatments may only add to your worries. 

However, with this plan, you are eligible to receive the guaranteed death benefit (up to 1 crore), once you get a certification for the terminal illness by a medical practitioner. 

• Accidental Cover

Accidents can happen anytime, and the new term insurance plan supports your loved ones to get through tough times without having to worry about finances. 

Under this benefit, the policyholder’s family is eligible to receive the cover amount if the insured person meets with an unfortunate eventuality, leading to their death due to an accident. 

To ensure added protection, you can easily add this cover to your Max Life term insurance during the premium payment. You may not be able to avoid accidents altogether, but you sure can keep your family protected for all situations with benefits like this.

• Joint Life Benefit
  This could be a good option if you want an insurance plan that will cover your spouse’s requirements when you are not present to look after their needs. Besides, the financial wellbeing of your life partner, in the event of a tragic event, is a major consideration that you need to make when purchasing term insurance.

Keeping such consumer requirements in mind, the new term insurance plan is designed with the Joint Life benefit to provide you with peace of mind. You can opt for this cover any time when buying the Max Life term insurance and ensure that you are not only securing yours but also your spouse’s life. 

Under this, if you pass away before your spouse in an untimely manner, then your chosen sum assured is paid out to your partner in a pay-out option of their choosing – lump sum, monthly income, and part lump sum and part monthly income. 

• Premium Break

A unique feature that you will not find with any other type of term insurance – the premium break option of the new Max Life term insurance entails that you can take a premium break. You can consider this to be kind of a holiday break from paying the insurance premium once the policy completed a tenure of ten years. 

When you choose to opt for a premium break, you can be assured that your policy is still in force with functional risk cover as per the terms and conditions of the max life term plan. 

• Special Exit Value

With the special exit value feature of the Max Life term insurance, you can opt for a one-time option to exit the plan. 

While exiting the plan, you also enjoy the added benefit of Return of Premiums for the base cover only (total premiums paid plus underwriting extra premiums paid plus loading for modal premiums, if any) when exercising this option. As and when the policy premiums have been returned, the policy ceases to be in force. 

• Voluntary Sum Assured Top-Up

You can choose the voluntary sum assured top-up with the new term insurance plan that covers up to twice the original guaranteed amount. In case the policyholder meets with an unfortunate death or is diagnosed with a terminal illness, then the assured top-up gets paid by the insurer.

Now that you know some of the most beneficial, all-inclusive features of the new term insurance plan from Max Life Insurance, you can match these to your distinctive requirements and make an informed decision to ensure total security and protection for your loved ones!

Author Bio
Mithlesh Singh is a writer who specialises in writing content on Insurance and Finance subjects. He is a Digital Marketing Consultant, Blogger, and Founder of Smart Tech Today.