Max Life Insurance Launches ‘Smart Secure Easy Solution’ that Aims at Extending Financial Protection to the Self-employed

Max Life Insurance Company Ltd. (“Max Life” / “Company”), has launched Max Life Smart Secure Easy Solution*, a comprehensive three-in-one protection solution offering benefits of life, critical illness & disability and accidental cover. Aimed primarily towards self-employed individuals, the solution is available for multiple customer cohorts including salaried and other professionals to comprehensively guard against life’s uncertainties.

The solution is a combination of Max Life’s Smart Secure Plus Plan (UIN: 104N118V04) that aims at providing financial protection in case of any uncertainties in life with an accidental cover option and Max Life Critical Illness and Disability Health Rider (UIN: 104B033V01),which offers an added layer of financial protection in case of critical illnesses, total and permanent disability and provides extra coverage against death due to accident¹.

The plan caters primarily to self-employed individuals as it offers flexibility to this segment in terms of frictionless onboarding with easy issuance, including only video medical examination and relaxed financial documentation². With this solution, Max Life also offers coverage against 64 listed critical illnesses, including 5 minor and 59 major illnesses, and covers total and permanent disability.

Prashant Tripathy, MD & CEO, Max Life said, “Customer obsession is in Max Life’s DNA, and developing products to respond to customer needs is the Company’s core competency. With Smart Secure Easy Solution, we want to offer critical life insurance solutions to the self-employed segment as well, which is also more vulnerable to economic fluctuations. Currently underserved, we look forward to catering to this segment and supporting their financial protection needs with quick and hassle-free onboarding.”

Key features of Max Life Smart Secure Easy Solution:

• Comprehensive cover offering 3-in-1 benefits of Life, Critical Illness and Accident Cover
• Easy issuance and smooth onboarding with only video medical examination and relaxed financial documentation²
• Return of premium option available wherein at maturity upon survival, the policyholder will be paid back all the base premium³
• Tax Benefits⁴

Max Life’s Smart Secure Easy Solution: As part of this term insurance solution, a lumpsum benefit will be paid in case of diagnosis of a critical illness or a terminal illness. In the unfortunate event of the demise of the life insured (normal or accidental), the death benefit will be paid to the nominee.

• Accidental cover option: The accidental cover option ensures that the nominee gets the death benefit in addition to the base coverage to help the insured’s family cope with financial burdens.
• Critical illness and disability rider: The rider creates a financial shield against 64 listed critical illnesses, including life-threatening diseases such as cancer, heart attack, and stroke, among others, as per the rider terms. This rider ensures that the life insured gets a lump-sum payment if diagnosed with a critical illness.