Max Life Platinum Protect II Non Participating Regular Pay Term Insurance Plan (UIN: 104N060V02)

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1 LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT. About Max Life Insurance Max Life Insurance, one of the leading life insurers, is a joint venture between Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max India is a leading Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the top general insurers in the world. Max Life Insurance offers comprehensive life insurance and retirement solutions for long-term savings and protection. A financially stable company with sound investment expertise, Max Life Insurance has a strong customer-centric approach focused on advice based sales and quality service. Max Life Platinum Protect II Max Life Platinum Protect II is a comprehensive life insurance plan that fulfills the protection needs for you and your family. It is a unique plan that supports your family's financial requirements in case of your absence. Max Life Platinum Protect II is the best solution for you to fulfil all your family's dreams, no matter what. Key benefits and features of Max Life Platinum Protect II are as illustrated below: 1. Comprehensive Insurance cover at affordable rates: Max Life Platinum Protect II offers a comprehensive insurance cover, to take care of your loved ones in case you are not around, at affordable rates 2. Reduced Insurance Cover: Max Life Platinum Protect II offers additional feature of reduced insurance cover (if premiums are paid for atleast 15 years) that keeps you covered in case you stop paying premiums. 3. Have a healthy lifestyle? Get rewarded for it in your life insurance!! We offer you one more joy of staying away from tobacco and leading a healthy lifestyle. Max Life Platinum Protect II offers lower premium rates for Non-Smokers and healthier lives. There are different premium rates offered to 3 different classes that are offered to customer: o o o Smoker Tobacco consumption. Non Smoker No tobacco consumption in the last 3 years Preferred Non Smoker No tobacco consumption in last 3 years and a healthier life style basis the specified medical examinations 4. High Sum Assured discounts: For our customers opting for Sum Assureds of Rs. 50 lac and above, there are special discounts built in the plan. 5. Flexibility of Term: Choose as per use: Choose from 5 policy terms (10 years, 15 years, 20 years, 25 years, 30 years) as per your protection need and protection horizon.. 6. Additional discount on Female Lives: The plan offers lower rates for females life insured.

2 Max Life Platinum Protect II at a Glance SPECIFICATIONS Types of Plan Policy Term Premium Payment Term Available issue ages (Age Last Birthday) Maximum Maturity Age (Age Last Birthday) This product has a minimum policy term of 10 years. The product is available for quinquennial terms starting from 10 years up to 30 years i.e. the available policy terms are 10, 15, 20, 25 and 30 years. This product only offers regular pay option. Therefore the Premium Payment Term is equal to Policy Term chosen. Minimum Age of Life Insured at entry 18 Years (age last birthday) Maximum Age of Life Insured at entry - 60 years (age last birthday) Policy anniversary following or coinciding the Life Insured attaining age 75 years The Policyholder can choose annual, semi-annual, quarterly and monthly premium paying modes. The modal factors are as follows: Modal Factors Premium Mode Factor Premium Modes and Modal Factors Annual Semi-annual Quarterly Monthly For monthly mode policies, two month s premiums in advance only may be accepted on the date of commencement of the policy Minimum Annual Premium Maximum Annual Premium Rs 5,000 per annum for annual premium paying mode. For non-annual modes, the modal factors will be applicable. The minimum premium limit is exclusive of service tax, education cess extra premium and statutory levies if any. No Upper Limit, based on the Sum Assured.

3 SPECIFICATIONS Sum Assured Limits Sum Assured Bands (Higher Sum Assured offer lower premiums) Special Rates for Healthy Lives Minimum: Rs 25,00,000 (Subject to minimum premium of ` 5,000) Maximum: No upper limit (subject to underwriting) Two sets of premium rates have been determined: Band 1 - `25,00,000 to `49,99,999 Band 2 - `50,00,000 and above Every policy under this product will undergo medical underwriting to establish the underwriting class of the Life Insured. The Life Insured will be classified in one of the three underwriting classes for each gender viz. Preferred Non-Smoker, Non-Smoker or Smoker. The premium rates vary by the underwriting class ( Preferred Non-Smoker, Non- Smoker or Smoker ) of the Policyholder. The Preferred Non-Smoker category is only available for Sum Assured of Rs 50 lacs onwards. This product will be offered to all lives however sub standard lives will be subject to extra mortality loading. Special Rates for Females Premium Rates at sample ages Premium rates are exclusive of service tax, education cess extra premium and statutory levies if any. The premium rates vary by gender of the Life Insured. For female lives, a 3-years age setback over males will be used to determine premium rates. However, where the corresponding rate is not available, the lowest available premium rate for males will be used. Examples of annual premium (in `) for a Life Cover (Sum Assured) of ` 50 lacs for a 20 year term. Age Non Smoker Smoker 30 ` 8,050 ` 9, ` 11,000 ` 12, ` 16,350 ` 19, ` 24,900 ` 30,250 PLAN BENEFITS Events/Feature How and when Benefits Size of such benefits / policy monies

4 are payable? PLAN BENEFITS Survival / Maturity Death Benefit Riders Surrender No maturity benefit is payable under this plan. Payable on death of Life Insured provided the policy is in force. Not Applicable No Surrender benefit is payable under this plan. None. On death during the term of the policy, the Sum Assured will be paid to the nominee of the Life Insured. There are no riders offered along with this product. None The policy offers Reduced Insurance Cover from policy year 16 onwards in case Policyholder discontinues premium payment after paying premiums for first 15 years. This feature is only available for policy terms 20, 25 or 30 years. Non-Forfeiture Benefit - Reduced Paid Up (RPU) Upon discontinuance of premium within first 15 years the policy will lapse and no surrender value will be paid. However the policy shall become Reduced Paid Up post payment of premiums for 15 years. Reduced Insurance Cover is calculated as mentioned below: Reduced Insurance Cover = [((Policy Year of discontinuance of Premium 1) / Policy Term) 0.25] X Sum Assured. Reduced Insurance Cover As % of Sum Assured Policy Term Policy Year of Discontinuance of Premium % 35.0% 25.0% % 39.0% 28.3% % 43.0% 31.7% % 47.0% 35.0%

5 PLAN BENEFITS % 51.0% 38.3% % 41.7% % 45.0% % 48.3% % 51.7% % 55.0% % % % % % Loan Facility Not Applicable No Loan is available under this products Case Study (Ensuring a protection plan for Mr. Sharma) Mr. Sharma is a 35 year old married, salaried professional. He was recently blessed with a baby boy. He is the sole bread earner for his family and wants to protect his family in case of his death. As he is contemplating his first life insurance plan, he wants to purchase a protection plan at affordable cost. Step 1: Mr. Sharma decides that he needs a life cover of ` 50 Lacs. Step 2: Mr. Sharma reviews the five policy term options of 10 year, 15 year, 20 year, 25 year and 30 years. He wants protection for maximum period possible. So he decides to purchase 30 year term. Step 3: The annual premium (exclusive of service tax) for his policy at Sum Assured of `50 Lacs comes out to be ` 15,900

6 Here are the following scenarios that can now happen during the course of the policy of Mr. Sharma Scenarios Survives the policy term Dies during the policy term Pays all his due annual premiums Policy Terminates, no survival and maturity benefits. In case of death, his nominee will get the Base policy Sum Assured of `50 Lacs and his Policy will terminate. Stops paying premium after the payment of 10 annual premiums. Stops paying premium after the payment of 15 annual premiums. None None None. Reduced Insurance Cover becomes available only after 15 year of premium payment. In case of death, his nominee will get the Reduced Insurance Cover of 25% of Sum Assured =25% of 50 Lac = `12.5 Lacs and the policy will be terminated. Few important terms and conditions: (For other terms and conditions, please refer to the Policy Contract and Benefit Illustration) Tax Benefits: You may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice. Free Look Period: You have a period of 15 days from the date of receipt of the policy document, to review the terms and conditions of the policy, where if you disagree to any of those terms and conditions, you have the option to return the policy stating the reasons for your objection. You shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the Company on medical examination of the Life Insured and stamp duty charges. This product will not be offered through Distance Marketing. Grace Period: A grace period of thirty days from the premium due date (15 days in case of Monthly mode) for payment of each premium will be allowed. During the grace period the Company will accept the premium without interest. The insurance coverage continues during the grace period but if the Life Insured dies during the grace period, the Company shall be entitled to deduct the unpaid Premium from the Benefits payable under the Policy. However, if the policy is in Reduced Paid-up status then Reduced Insurance Cover is payable in full and no unpaid premiums shall be deducted from the benefit. Lapse: If the Premium is not received within the Grace Period, and the policy has not acquired Reduced Insurance Cover (RIC), the Policy shall lapse and all the benefits secured under the policy shall also lapse. Revival of Lapsed Policy: In case of non receipt of any of the premiums within the grace period, the policy will lapse and no benefits shall be payable except in case of discontinuance of premium after payment of 15 years premiums for policy term 20, 25 and 30 years only, in which case the policy will become Reduced Paid-up and will continue with Reduced Insurance Cover.

7 Once the policy has lapsed or converted into a Reduced Paid-up policy, it can only be revived within a revival period of two years from the due date of first unpaid premium subject to following conditions: Policyholder paying all overdue premiums, together with interest and / or late fee determined by the Company from time to time, The Life Insured producing an evidence of insurability at his/her own cost which is acceptable to the Company; and The revival of the policy shall take effect only after revival of the policy is approved by Max Life Insurance basis the Board approved underwriting policy and communicated to the Policyholder in writing. If a lapsed policy is not revived within two years, the policy shall be terminated and no value is payable to the Policyholder. However, a policy which is in Reduced Paid-up mode shall continue till the expiry of policy term with the Reduced Insurance Cover. A Reduced Paid-up policy cannot be revived post two years. Suicide Exclusion: Notwithstanding anything stated herein, if the Life Insured, whether minor / major and whether sane or insane, dies by suicide within 12 months of the effective date of risk commencement or the date of revival of policy, the policy shall terminate immediately. In such cases, the Company shall pay total Premiums paid (inclusive of extra premiums, if any, but exclusive of service tax, education cess and any other taxes or levies). Prohibition of Rebates: Section 41 of the Insurance Act, 1938 states: (1) no person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives, or property, in India, any rebate of whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of insurer. Provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taken out by himself on his own life shall not be deemed to be acceptance of rebate of premium within the meaning of this sub section if at the time of such acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bonafide insurance agent employed by the insurer. (2) Any person making default in complying with the provisions of this section shall be punishable with fine which may extend to five hundred rupees. Section 45 of the insurance Act, 1938 states that under the provisions of Section 45 of the Insurance Act, 1938, No policy of life insurance effected after the expiry of two years from the date on which it was effected be called in question by an insurer on the ground that a statement made in the proposal for insurance or in any report of a medical officer, or referee, or friend of the insured, or in any other document leading to the issue of the policy, was inaccurate or false, unless the insurer shows that such statement was on a material matter or suppressed facts which it was material to disclose and that it was fraudulently made by the proposer and that the proposer knew at the time of making it that the statement was false or that it suppressed facts which it was material to disclose. Provided that nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the

8 policy are adjusted on subsequent proof that the age of the Life Insured was incorrectly stated in the proposal. Nomination: In the Proposal form, the Policyholder can nominate a person authorizing him/her to receive the benefits secured under the policy. Where the nominee is a minor, the Policyholder is required to appoint an appointee to receive the monies in the event of the Life Insured s death during the minority of the nominee. The person named by the Policyholder in the proposal form as the nominee/s or the person who has been nominated at a later date, shall be the person to whom the money secured by the policy will be paid in the event of death of the Life Insured. Such nomination only indicates the person, who is authorized to receive the amount on the payment of which the Company will receive a valid discharge of liability under the policy. A change in nomination may be made by the Policyholder any time during the term of the policy and must be registered with the Company. Assignment: The Policyholder may also assign the benefits under the policy in accordance with Section 38 of the Insurance Act, 1938 in favour of the person named by him/her whereby the beneficial interest, right and title under the policy are transferred to such person. An absolute assignment shall automatically cancel a nomination except any assignment in favour of the Company in accordance with Section 39 of the Insurance Act. Notice of assignment (including any change thereof), should be submitted for registration to the Company. In registering an assignment or nomination, the Company does not propose to accept any responsibility or express any opinion as to its validity or legality. Expert Advice at Your Doorstep: Our distributors have been professionally trained to understand and evaluate your unique financial requirements and recommend a policy which best meets your needs. With experienced and trained distributors, we are fully resourced to help you achieve your life s financial objectives. Please call us today. We would be delighted to meet you. Disclaimers: Max Life Insurance is a joint venture between Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurgaon (Haryana) You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the Subject matter of solicitation. Max Life Insurance has been selected as a Superbrand of the year for by Superbrands India Private Limited. IRDA - Registration No Visit us at: Contact toll-free numbers: (for MTNL & BSNL lines) or (from other service providers) or SMS Life to 54242

9 BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS IRDA clarifies to public that IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus. Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.