The 'Max Life Smart Secure Plus Plan' launched by Max Term Life Insurance is about to set in motion by PhonePe, which is the most effective and mass-oriented digital payment platform these days. Customers will now be able to select an amount assured of up to Rs 10 crore and renew their policies through this distinct PhonePe app. Max Life Insurance has announced a joint venture with PhonePe to bring its 'Max Life Smart Secure Plus Plan'. It is a comprehensive life cover on the payments app. Customers over the age of 18 can apply for this insurance plan just on the PhonePe app. Thanks to this successful initiative, consumers can now have the option of selecting a sum assured with the highest ceiling up to Rs 10 crore and renew their policies through the payment app. According to the Max Insurance officials, the Max Life Insurance Term Plan can be acquired through the PhonePe app without any hassles or costly paperwork. Millions of PhonePe consumers may now protect their families from potential life risks by purchasing complete financial coverage for as little as Rs 4,426 annually. Max Life's deputy managing director V Viswanand has said in a press release that his organization is devoted to simplifying the complete customer life cycle from acquiring life insurance to settling a claim easily in the digital world. He is optimistic that by partnering with PhonePe, the company has got a fresh impetus to build a strong distribution channel for digitally savvy customers while also increasing the acceptance of term plans linked to financial protection. The IRDAI (Insurance Regulatory and Development Authority of India) has awarded PhonePe, one of India's biggest digital payment systems, a direct broking license. It has enabled the digital app owners to sell insurance through their app.