Policy Analysis
Max Life Smart Secure Plus Plan
Maturity Benefit No maturity benefit is payable except in case where Return of Premium variant is selected in which case if the policyholder survives throughout the policy term, 100% of the Total Premiums Paid plus underwriting extra premiums plus loading for modal premiums, if any will be paid at end of policy term and the policy will terminate.
The premium is calculated for a 30 year old healthy non-smoker male. Policy term and premium paying term is assumed to be 30 years. Premium is inclusive of all taxes and is for sum assured of Rs 1 Crore.
Our Take : Moreover, for the said premium Max Life Smart Secure Plus Plan offers Termial Illness of Rs 1 crore and also allows a voluntary top-up benefit wherein you can increase your cover up to twice the initial sum assured. Having said that, the additional premium would be charged for any such top-up. On the other hand, LIC's Jeevan Amar Plan which is a pure term plan charges higher permium with no other benefits apart from death benefit. With this we can say that it makes sense to opt for Max Life Smart Secure Plus Plan