Life Insurance Coverage is available in this Product.
Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana
Group term insurance is a term insurance scheme that covers an entire group of people.
Max Life Group Term Life Platinum Assurance plan (UIN: 104N112V03) is a comprehensive Group term insurance plan designed to safeguard the financial future of your employees and their dependents against death.
Regardless of the business size, this plan provides sufficient flexibility to cater to every need and scale. So, you can take the right step towards securing your employees' families from the unpleasant surprises of life.
For any organisation, its employees are its most valuable and critical assets. One of the challenges employers have to deal with nowadays, apart from creating a motivated workforce, is maintaining a healthy retention rate of fresh and experienced talent.
- Single Policy is issued covering all members
- Simplified risk assessment procedure
- With low-cost insurance, you can improve employee retention
What does Max Life Group Term Life Platinum Assurance Plan offer?
Securing financial future
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Hasle-free and Low-cost insurance
Tax Benefits
All You Need to Know about Max Life Group Term Life Platinum Assurance Plans
- Plan Benefits
- Eligibility Criteria
- Downloads
| Features of Max Life Group Term Life Platinum Assurance | |
| Type of Plan | Non-linked Non-participating Group Pure Risk Life Insurance Plan |
| Minimum Age at entry (for both base product & Optional Accelerated CI benefit option) | 18 years |
| Maximum Age at entry (for employer-employee groups & affinity groups) |
For Base Benefit: 80 years For Accelerated CI Benefit option: 69 years |
| Maximum Cover Ceasing Age (for employee groups & affinity groups) |
For Base Benefit: 81 years Accelerated CI Benefit option: 70 years Maturity age/Cover ceasing age will be determined as on Policy Anniversary following or coinciding with 81 years of age (for Base Benefit) or 70 years (for Accelerated CI), whichever the case may be. |
| Policy Term |
The policy term is one year. However, it can be renewed on its annual renewal date by payment of premiums based on underwriting. |
| Premium Payment Modes |
There are four different payment modes: Annually Half-Yearly Quarterly Monthly |
| Minimum Group Size |
For Employer-Employee – 10 individuals; For Non Employer-Employee / Affinity/ Other groups – 50 individuals; |
| Maximum Group Size | No Limit |
| Minimum Sum Assured |
For the base plan – Rs. 10,000 for each member; For Accelerated Critical Illness benefit – Rs 10,000 and up to 50% of the Sum Assured (capped at Rs. 10,000,000 for a member) For EDLI – Rs. 2,50,000 or as per the Employees' Provident Fund & Miscellaneous Provisions Act, 1952 Here, Sum Assured is equal to Sum assured on death and CI Sum Assured is equal to Sum assured under health cover. |
| Maximum Sum Assured |
Base plan – No Limit (subject to Board Approved Underwriting Policy) Accelerated Critical Illness option – up to 50% of the Sum Assured, capped at Rs. 10,000,000 Here, Sum Assured is equal to Sum assured on death and CI Sum Assured is equal to Sum assured under health cover. |
| Minimum Premium |
Subject to minimum Sum Assured per member and applicable premium rates |
| Maximum Premium |
Subject to maximum Sum Assured per member and applicable premium rates |
| Downloads | Actions |
| Prospectus |
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| Leaflet |
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| Premium Rates Table |
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| Policy Contract |
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| Customer Information Sheet |
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Additional Benefits Through Riders
Max Life Group Accelerated Terminal Illness Rider
Get additional protection cover in case of any Terminal Illness leading to the death of the insured within 6 months of being diagnosed with the illness. (For further details, please refer to Max Life Group Accelerated Terminal Illness Rider, UIN – 104B028V03)
Downloads
Max Life Group Critical Illness (Additional Benefit) Premier Rider
Get additional protection cover in event of “Total and Permanent Disability” within 180 days from the date of Accident. (For further details, please refer to Max Life Group Total and Permanent Disability (Accident) Premier Rider, UIN – 104B030V03).
Downloads
Max Life Group Total and Permanent Disability (Accident) Premier Rider
In the event of “Total and Permanent Disability” within 180 days from the date of Accident, subject to exclusions mentioned herein, the Rider sum assured opted under this rider will be paid in lump sum during the rider term or thereafter, provided the base policy and the rider are in force at the time of the accident and diagnosis of Total and Permanent Disability. The benefit is an additional payment to the base policy sum assured and paid only once per cover irrespective of other injuries or disability. (For further details, please refer to Max Life Group Total and Permanent Disability (Accident) Premier Rider, UIN: 104B030V03)
Downloads
Why Choose Max Life
ARN: PDP/GTLPA/011024
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- Chat with us
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