Max Life is a popular private life insurance company in India which has the vision to become the most admired insurer in the country by creating secure financial futures for the citizens. With a claim settlement ratio equal to 97.81%, the company has crossed many milestones over the years. In the year 2017, the company crossed the 10,000 crore mark in terms of the gross written premium collected in a year.
Max Life offers different types of insurance plans such as term insurance plans, child insurance plans, retirement plans, ULIPs, savings and income plans, group insurance plans, online plans, and term insurance plans. Under term insurance plans, the company offers three separate plans. While Max Life Super Term Plan and Max Life Premium Return Protection Plan are offline plans, the Max Life Online Term Plan Plus is an exclusive online plan.
A person who purchases a life insurance policy is required to pay a premium towards the policy to keep the policy active. The premium payable towards the policy differs based on a number of factors such as the age of the individual, the sum assured, the type of plan, the gender, whether the person is a smoker or non-smoker, etc. Each insurance company looks at different factors. Hence, the premium payable towards two life insurance plans is rarely the same. Estimating what the premium payable towards a plan should be will turn out to be a tedious task. Therefore, any person who is planning to buy a policy can use the online premium calculator available on the official websites of insurance companies. The estimated premium will help a person decide whether he/she wants to increase the coverage, reduce the coverage, switch to another plan, or choose a different insurance company.
The steps to be followed to calculate the premium payable towards a Max Life term insurance plan using the premium calculator are:
Once the premium amount is shown, you can even edit the quote to lower the price or even increase the price in case you can afford more. Also, the insurer offers other riders that you can use to enhance the plan. Once you select these as required, you can click ‘Buy Now’ to purchase the policy.
There are many advantages to using a term insurance premium calculator as given below:
If you’re looking to buy a term insurance plan in the near future, make sure you check the premium payable using the term insurance premium calculator online. If you’ve selected a term plan offered by Max Life, you can use the premium calculator provided by them. Max Life offers term insurance plans with abundant coverage options and many riders too. The insurer has won a number of awards over the years such as the ‘Great Place to Work - 2018’ award, Effie Award – 2018, Quality Fables and Improvement – 2017, and so on. The company has witnessed steady growth over the years and has its presence throughout the country with 210 offices in total.
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