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Smart Term Plan


At Max Life Insurance, we understand that as your life keeps evolving, your term plan should evolve too, to provide you with Life Cover that you need to protect your loved ones. Which is why, we present to you, Max Life Smart Term Plan. Smart Term Plan is a comprehensive and intelligent plan that fits and protects all your evolving needs.



  • Return of premium upon surviving the policy term under base policy*
  • Comprehensive protection against 40 critical illnesses, including kidney failure, heart attack and cancer
  • Limited premium payment options such as limited pay, regular pay and pay till 60
  • Flexible premium payment options as per your budget
  • Option to increase insurance coverage upon achieving important milestones in life
  • Significant tax benefits under Section 80C, 80D and 10(10D) of income tax act 1961
  • Multiple death benefit payout options including increasing monthly income and lump sum payouts
  • Additional benefits in the form of riders such as Accidental Cover


Max Life Smart Term Plan is a customizable term plan that offers comprehensive protection against critical illness, disability, and death. This term plan provides 360-degree financial protection to your family in your absence.


Anant is a 30-year old marketing analyst. He purchases the Max Life Smart Term Plan Life Cover Variant. The policy details are as follows:

Death Benefit variant

Life Cover

Sum Assured

Rs. 1 crore

Policy Term

40 years

Premium Payment Term

40 years

Annualised Premium
(Exclusive of GST)


Thus, after paying 7 premiums, he passes away. Subsequently, his nominee receives a lump sum benefit of Rs. 1 crore and the policy terminates.





Choice of multiple premium payment options:

At the time of purchase, you can also choose whether you want to pay the premium amount all at once, or you wish to pay the premium for a limited period only. In case you want to continue paying the premium amount throughout the policy tenure, you can do so too!

Max Life Smart Term Plan enables you to select a premium payment mode as per your budget so that you have enough bandwidth to take care of other expenses as well. You have the flexibility to choose to pay the premiums annually, half-yearly, quarterly, or every month.

Here is a summary of the different policy and premium payment options available under Max Life Smart Term Plan:

Variant Policy Tenure Minimum Premium Payment Tenure

Single Pay

10 to 50 years

Only once

Regular Pay

10 to 50 years

10 to 50 years

Limited Pay (5 Pay)

10 to 50 years

Up to 5 years

Limited Pay (10 Pay)

15 to 50 years

Up to 10 years

Limited Pay (12 Pay)

17 to 50 years

Up to 12 years

Limited Pay (15 Pay)

20 to 50 years

Up to 15 years

Pay till 60

The policy term will be higher than the tenure for premium payment (a maximum of 50 years)

16 years