Max Life Insurance Company Ltd. has launched the Smart Total Elite Protection Plan, a comprehensive life insurance term plan designed for modern lifestyles. This non-linked, non-participating, individual pure-risk premium plan offers 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.
India is experiencing a surge in aspirations and a 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, reflecting the growing demand for higher coverage solutions. Over one-third of Max Life’s customers have chosen a term plan with INR 2 crores coverage this year, compared to one-fourth in the previous year.
STEP, a vital solution, offers enhanced coverage of INR 2 crores and flexibility options, such as allowing premium breaks every five years as part of its cover continuance benefit. Prashant Tripathy, Managing Director & CEO of Max Life, comments “Max Life envisions a future where everyone has the ability to shape the financial security of their families on the long term horizon and this plan is a significant step in that direction.”