Why Buy Term Insurance Plan Online? | Max Life Insurance (2024)

THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THEPOLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELYOR PARTIALLY TILL THE END OF FIFTH YEAR.

Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to therisk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associatedwith capital markets and the NAVs of the units may go up or down based on the performance of fund and factorsinfluencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only thename of the insurance company and Max Life Online Savings Plan (UIN: 104L098V06) is only the name of the unit linkedlife insurance contract and does not in any way indicate the quality of the contract, its future prospects orreturns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediaryor policy document of the insurer. The various funds offered under this contract are the names of the funds and donot in any way indicate the quality of these funds, their future prospects or returns.

Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN: 104L098V06)

*#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of yourInsurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in theillustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as thevalue of your Policy depends on a number of factors including future investment performance. The guaranteed andnon-guaranteed benefits are applicable only if all due premiums are paid. The Maturity Benefit shown in theillustrative example are inclusive/exclusive of taxes.

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^^On completion of policy term

The savings indicated is the maximum premium difference as compared with offline plan & depends on the variantpurchased.

Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on aworking day. Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any fieldverification. Mandatory Documents:> Original policy document > Original/attested copy of death certificateissued by local municipal authority > Death claim application form (Form A) > NEFT mandate form attested bybank authorities along with a cancelled cheque or bank account passbook along with nominee’s photo identity proof> Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (incase of accidental death)

¹The 5% employee discount will be refunded to you once your policy is issued. Submit your documentsfor getting your policy issued and get 5% employee discount

²Total premium will be charged at the time of the policy issuance (subject to underwriting’sdecision).

³The discount is applicable if you are a salaried employee with a corporate. During policy issuance,Max Life may call for proof of employment if required. In case proposer when asked is not able to prove theemployment part, discount offer will be discontinued and additional premium as applicable will have to be paidfor processing of the case.

⁴InstaClaim TM is available for all versions of (UIN: 104N118V09). Mandatory Documents: • Originalpolicy document • Original/attested copy of death certificate issued by local municipal authority • Death claimapplication form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bankaccount passbook along with nominee’s photo identity proof • Discharge/Death summary attested by hospitalauthorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

⁵Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >=10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medicalcondition

⁶The life insurer is eligible for a discount on renewal premium under regular pay variant by accumulating HealthyWeeks as per terms and conditions of the rider

₇Available with Max Life Smart Wealth Plan (UIN: 104N116V12)

₈Available with Max Life Smart Fixed-return Digital Plan (UIN: 104N123V05). Theguaranteed benefits are available with selected life insurance plans & are applicable if all due premiums arepaid.

₉The percentage savings is for a regular pay Max Life Smart Secure Plus Plan(A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN: 104N118V09)– Life Optionfor 1 cr life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term withthe same details’

^##Tax conditions :

^##Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a RegularIndividual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime^~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and25,000 for critical illness cover and you are a Regular Individual, Fall under 30% income tax slab having taxableincome less than Rs. 50 lakh and Opt for Old tax regime.

CI Rider disclaimers:

MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN: 104B033V01) available as a rider on payment of additionalpremium.

^>Extended cover of up to 85 years is available with gold and platinum variant only

^@64 critical illnesses covered in platinum and platinum plus variant on payment

22 critical illnesses covered in gold and gold plus variant

*^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies andmodal extra. Return of premium option is available on payment of additional premium.

~ Conditions for premium break: Available at an additional premium for policies with policy termgreater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2premium breaks will be available during the premium payment term separated by an interval of at least 10 years

~1 Conditions for Special exit value:

Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Availablewhen Return of Premium variant is not chosen. No additional premium to be paid.

~2 Voluntary Top-up Sum assured:

Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured upto an additional 100% of base sum assured, chosen at inception

^^*^^Free look period conditions:

The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms andconditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has theoption to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refundof the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and theexpenses incurred by the company on medical examination of the lives insured and stamp duty charges.

^Individual Death Claim Paid Ratio as per audited financials for FY 2023-2024

^@3Tax benefits as per prevailing tax laws, subject to change

Terms and conditions for availing 5% employee discount:

^<Due to system constraints, employee is requested to select 5 Lakh and above income which can bechanged to actual amount on the information page.

ARN - ARN/Web/01/21042021

Past performance of the investment funds do not indicate the future performance of the same. Investors in the Schemeare not being offered any guaranteed / assured returns. The premiums & funds are subject to certain charges relatedto the fund or to the premium paid.

The premium shall be adjusted on the due date even if it has been received in advance.

For Total Installment Premium -Total Installment Premium is the Premium payable as per premium payingfrequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings formodal premiums, Underwriting Extra Premium and Rider Premiums if any.

For Return of Premium -^~The Return of Premium Option is available on payment of AdditionalPremium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. UponPolicyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-ParticipatingIndividual Life Insurance Savings Plan.

For Riders -^#Applicable Rider available on the payment of Additional Premium is Max LifeCritical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Premium HealthInsurance Rider | UIN: 104B033V01. Critical Illness and Disability Rider variant opted is Platinum Plus whichcovers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed withlisted 64 critical illnesses or total and permanent disability. Rider will terminate after major criticalillness claim is paid to the policyholder. In case customer requests for cancellation of rider only, thesolution as a whole will be cancelled and not just the individual rider.

For Additional Benefits -^##On Payment of Additional Premium. The accident cover will only bepaid in scenarios where death occurs due to accident.

*~Disclaimer | Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premiumlife insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premiumbut exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standardpremium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive ofGST) for Max Life Smart Secure Plus Plan.

_##Policy continuance benefit is not available with lifelongwealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate(publish on RBI’s website).

_#With “Save the date”, you can choose to take your annual income to anyspecial date in a year.

***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

_~Accidental death benefit is available in call variants except for Singlepremium variant. Life insurance coverage is available in this product.

_#~Term Insurance plan bought online directly from Max Life Insurance has nocommissions involved.

_~1Max Life Smart Secure Plus Plan, A non-linked non-participatingIndividual Pure Risk Premium Life Insurance Plan| Standard Premium for 30 year old healthy male, non-smoker, 40years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan | ~1Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term ofthe policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to bepaid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. SpecialExit Value cover applicable till age 68 & above (of your age). T&C Apply.

_@>Max Life Critical illness and Disability (UIN: 104B033V01) available as arider on payment of additional premium. 64 critical illnesses covered in platinum and platinum plus variant onpayment.

_*Available on Payment of Additional Premium. The accident cover will only bepaid in scenarios where death occurs due to accident.

^¹Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premiumpayment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05) with a life cover of Rs. 50lakh.

^²Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premiumpayment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05) with a life cover of Rs. 75lakh.

^³Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premiumpayment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05) with a life cover of Rs. 1Cr.

^⁴Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premiumpayment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05) with a life cover of Rs. 1.5Cr.

^⁵Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05) with a life cover of Rs. 2 Cr.

^⁶Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05) with a life cover of Rs. 5 Cr.

Disclaimer~*Standard premium for 24-year old healthy female,non-smoker, 25 yearspolicy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05)

~^Disclaimer: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund(ULIF01311/02/08LIFEHIGHGR104) as on 31/07/2024

^~The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they arenot the upper or lower limits of what you might get back. The value of your policy depends on a number of factorsincluding future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premiumpayment term, and 35 years policy term with Max Life Online Saving Plan (Unit Linked Non Participating IndividualLife Insurance Plan | Life Insurance is available in this product).

**Disclaimer | Max Life Smart Secure Plus Plan. A Non Linked Non Participating Individual Pure Risk PremiumLife Insurance Plan. | **Standard Premium for 24 Year Old Healthy Female, Non-smoker, 25 Years Policy Term, 25 YearPremium Payment Term (exclusive of GST) for Max Life Smart Secure Plus Plan. | For Male, the Total premium to bepaid in 25 years is Rs.2.09 lakhs (exclusive of GST). ~As compared to the similar modal points of Male, Female hasto pay Rs. 13,800 lesser premium than male for the entire policy term (exclusive of GST).

~3Disclaimer: A 35 year old female opting for a life cover of Rs. 1 Cr till the age of 75 years pays Rs. 3,319monthly for 10 years while a 35 year old male will pay Rs. 4,168 monthly for 10 years

^~4 Subject to submission of all documents required for GST waiver.

^*++Max Life's Nifty Alpha 50 Fund tracks the NSE's Nifty Alpha 50 Index, subject to tracking error. The above values have been calculated by projecting historical returns of the Nifty Alpha 50 index, after adjusting for all expenses, except the tracking error, in Max Life's online savings plan (variant 1) for a 35-year-old male investing 10k per month for 10 years and maturity after 20 years. The calculations have been done using historical returns of the Nifty Alpha 50 index and may not be indicative of the future performance of Max Life's Nifty Alpha 50 Fund. The above values have been calculated basis 10 year returns of 26.4% (30th Apr'24) of the Nifty Alpha 50 Index.

^*+Nifty Mid-cap 150 Momentum 50 Index was launched in Aug’22. These are returns of benchmark indices and are not indicative of return on Max Life Insurance’s Midcap Momentum Index fund. 10 year return of NIFTY Midcap 150 Momentum 50 Index as on 27/05/2024. Max Life Midcap Momentum Index Fund (SFIN: ULIF02802/01/24MIDMOMENTM104) is passively managed Index Fund that mirrors NIFTY Midcap 150 Momentum 50 Index.

^*&10 year return of Nifty Smallcap 250 Quality 50 Index as on 30/04/2024. The past returns are extrapolation of index fund returns up to past 10 years using same formula (provided by NSE). The returns are not indicative of the future performance of the fund. Max Life Nifty Smallcap Quality Index Fund is passively managed Index Fund that mirrors Nifty Smallcap 250 Quality 50 Index. The objective of the fund is to invest in companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.

^@1Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. | ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accelerated Critical Illness, Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

^@2Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V05). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. | ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accelerated Critical Illness, Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

⁷Disclaimer: Rs. 1,00,29,587 after 14 years at policy maturity on monthly investment of Rs. 16,600for 12 years for 30 year old male with Max Life Smart Wealth Plan – Long Term Variant. A non-linkednon-participating individual life insurance savings plan. The guaranteed benefits are applicable only if all duepremiums are paid. Total premiums paid is exclusive of GST. Life Insurance is available in this product. ARN:WP/SWP/250723.

Disclaimer: ^~10 year CAGR of Nifty SmallCap 250 Quality50 index as on 24/07/2023. Max Life NiftySmallcap Quality Index Fund is passively managed Index fund that tracks the Nifty SmallCap 250 Quality50 index(subject to tracking error).

Disclaimer:^**+NIFTY 500 Momentum 50 Index was launched in June'24. The past returns are back tested based on historical returns and formula (provided by NSE). These are returns of benchmark indices as on 11 June’24 and are not indicative of returns on Max Life Insurance’s newly launched NIFTY 500 Momentum 50 Fund. Max Life’s NIFTY 500 Momentum 50 Fund (SFIN:ULIF03014/08/24MOMENFIFTY104) is a passively managed Index Fund that mirrors NSE’s NIFTY 500 Momentum 50 Index, subject to tracking error. The fund value calculation is done by projecting historical returns of NSE’s NIFTY 500 Momentum 50 Index, after adjusting for all expenses (except tracking error) in Max Life’s Online Savings Plan (UIN: 104L098V06) for a 30 year old male investing 10k per month for 10 years. The above values have been calculated assuming 25% p.a. gross investment returns as on 11 June'24, which is the 10-year return of NSE's NIFTY 500 Momentum 50 Index (backtested).

Disclaimer: *6 Check the Total Premium amount against the respective monthly premium values in the below table.

Note: For Sum assured of 75 lakh, 1 crore, 1.5 crore and 2 crore, the below calculations are based on Max Life Smart Total Elite Protection Plan (A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN:104N125V05). Monthly premium amounts are excluding GST and before any applicable discounts assuming Regular Pay and monthly payment mode.