PRTodaywire

New Delhi [India], December 18: Max Life Insurance Company Ltd. (“Max Life” / “Company”), has announced the launch of Smart Total Elite Protection Plan (UIN – 104N125V01), a comprehensive life insurance term plan crafted for today’s lifestyles, providing comprehensive coverage, tailored to evolving consumer preferences. A non-linked, non-participating, individual pure-risk premium life insurance plan, Max Life Smart Total Elite Protection Term Plan (“STEP”) offers policyholders multiple enhanced benefits like Instant Payment on Claim Intimation, Cover Continuance Benefit and Special Exit Value. This plan aims to enhance financial security in today’s landscape, addressing the modern consumer’s need for increased protection through higher coverage solutions.

As India experiences a surge in aspirations and a noticeable shift in consumer preferences towards premium products and services, 3 out of 5 Indians express concerns about sustaining their lifestyle and expenses with current earnings (Max Life IPQ 5.0 survey). This trend is also reflected in the growing demand for higher coverage solutions amongst consumers to safeguard the well-being of their families. For instance, more than one-third of Max Life’s customers have chosen a term plan with a coverage of Rs 2 crores this year, compared to one-fourth in the previous year. In this context, STEP emerges as a vital solution. The offering inherently builds for an enhanced coverage of Rs 2 crores keeping in line with the growing financial needs of consumers while introducing options for flexibility such as enabling policyholders to take a premium break every five years as part of its cover continuance benefit.

First Published: Dec 18 2023 | 12:00 PM IST

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