Max Life introduces the Smart Total Elite Protection Term Plan. Details here
Max Life Insurance Company has introduced the Smart Total Elite Protection Plan, a comprehensive term life insurance policy designed to align with contemporary lifestyles. This plan offers extensive coverage customized to meet evolving consumer preferences. Max Life Smart Total Elite Protection Term Plan (STEP) is a non-linked, non-participating, individual pure-risk premium life insurance plan.
It comes with several enhanced benefits for policyholders, including instant payment on claim intimation, cover continuance benefit and special exit value. With a focus on bolstering financial security in today’s dynamic landscape, this plan addresses the modern consumer’s demand for heightened protection through increased coverage solutions. As India witnesses a surge in aspirations and a noticeable shift in consumer preferences towards premium products and services, a Max Life IPQ 5.0 survey reveals that three out of five Indians harbour concerns about sustaining their current lifestyle and expenses.
This changing trend is evident in the increasing demand for higher coverage solutions among consumers who seek to secure the well-being of their families. For instance, this year, more than one-third of Max Life’s customers opted for a term plan with a coverage of ₹2 crores, compared to one-fourth in the previous year. Against this backdrop, the Smart Total Elite Protection Plan (STEP) emerges as a crucial solution.
The offering is inherently designed to provide enhanced coverage of ₹2 crores, aligning with the growing financial needs of consumers. Additionally, it introduces flexibility options, such as enabling policyholders to take a premium break every five years as part of its cover continuance benefit. Prashant Tripathy,
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