Max Life Insurance coverage at this time introduced the launch of their ‘Max Life Saral Jeevan Bima’, a typical time period life insurance coverage plan. The time period life insurance coverage coverage is designed to supply monetary safety to clients alongside easy, straightforward to grasp coverage options. The identical is a non-linked, non-participating, particular person pure-risk premium life insurance coverage plan.

The coverage is offered to clients within the age group of 18 to 65 years. The Max Life’s Saral Jeevan Bima plan gives a minimal sum assured of Rs 5 lakhs and a most sum assured of as much as Rs 25 lakhs for a coverage time period ranging between 5 – 40 years. The coverage additionally gives clients the flexibleness to decide on between premium cost time period choices of standard pay, single pay and restricted pay (with 5 and 10-year pay choices); and a number of premium cost mode choices i.e. annual, semi-annual or month-to-month cost.

In keeping with the findings of Max Life’s current survey ‘India Safety Quotient 3.0’ in affiliation with KANTAR, it was revealed that 33 per cent of non-term plan homeowners throughout city India had been unaware of time period plan availability and believed excessive premiums should be paid for it, which served as a barrier of their time period plan buy. The corporate says the brand new ‘Max Life Saral Jeevan Bima’ will supply simplified monetary safety to clients.

Prashant Tripathy, MD and CEO Max Life Insurance coverage says, “In at this time’s day and age, the place there are many time period insurance policy and insurance policies to select from, additionally it is vital to supply a easy product that permits a mean buyer to make an knowledgeable alternative. According to the IRDAI’s Pointers on Normal Particular person Time period Life Insurance coverage Product; and as a dedication to extend the penetration of life insurance coverage within the nation, ‘Max Life Saral Jeevan Bima’ seeks to deal with key monetary safety necessities of consumers in a easy and customary method.”

He additional provides, “We hope that this customary product will assist Indians, particularly first-time consumers, to guard their family members by encouraging them to spend money on a time period insurance coverage coverage.”