Axis Bank — Max Life insurance policy

I am persuaded by two of the employees of Shyambazar branch to invest 5 lakh for life time in Max Life insurance company for which I don't have to submit any form 15G or anything else and after my death my nominee will get a reduced amount. They never mentioned that I have to submit life certificate every year otherwise I shall not get benefits further.

My point is why did they suppress the fact. Secondly when I have deposited 5 lakh why should I need to give life certificate every year ?

Now I find it would be easier for me to submit form 15 G. I don't have taxable income anyway. I am trapped now.