Is there a limit on the maximum salary, and hence, the maximum sum insured?

Yes, the maximum sum insured is restricted to INR 1,50,000. This means that a user can insure upto Rs. 50,000 of his/her gross monthly salary. 

For example, if a user earns a gross monthly salary of Rs. 30,000, the user can insure the entire salary and get a sum insured of Rs. 90,000. However, if a user earns a  gross monthly salary of Rs. 1,00,000, he can insure his salary upto Rs. 50,000 only, thereby giving a maximum sum insured of Rs.1,50,000.