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Max Life Premium Return Protection Plan and Policy

Max Life Premium Return Protection Plan and Policy - The Premium Return Protection plan from Max Life Insurance Company is a term insurance plan that provides both, a death benefit in case the worst should come to pass for you, and a survival benefit that returns all your paid premiums. The death benefit protects your family from financial insecurity in the absence of your financial contributions and the survival benefit gives you a payout at the end of the policy term. It’s a win for you or your family, whether or not you survive till plan maturity.

Key Features - Max Life Premium Return Protection Plan and Polic

  • Flexibility to choose policy term between 20 years, 25 years, and a 30 years policy term.
  • Premium payment term is 11 years.
  • There are 4 premium payment modes – monthly, quarterly, semi-annually, and annually.
  • Minimum premium for annual mode is Rs.8,500 p.a. – minimum premium for different modes changes with modal factors.
  • Option to change premium paying mode at any time during the term of the policy, and changes will take effect from the next policy anniversary.
  • Additional rider is available – the Max Life Waiver of Premium Plus Rider.
  • Minimum sum assured is Rs.5,00,000.
  • Maximum sum assured is Rs.1,00,00,000.
  • Sum assured chosen can be increased in multiples of Rs.50,000 till the maximum sum assured.
  • There are discounts for high sum assured options chosen – Rs.130 per Rs.1,00,000 for sum assured of over Rs.30,00,000.
  • Tax benefits as per prevailing tax laws.
  • Benefits payable to dependents in the unfortunate event of the demise of the life insured.
  • Benefits payable to the life insured on his / her survival till the end of the policy term – on reaching the maturity date.

Benefits - Max Life Premium Return Protection Plan and Polic

  1. Death benefit:

    In the unfortunate event of the demise of the life insured, a death benefit will be payable to his / her dependents, and the amount will be equal to the death sum assured, which is the higher of:

    • 10 times the annualized premium.
    • 105% of the total premiums paid to date.
    • Guaranteed Maturity Sum Assured.
    • Guaranteed Death Sum Assured.
  2. Maturity benefit:

    In the event that the life insured survives till the maturity date, he / she will be paid a maturity benefit, and the amount of this benefit will be equal to the Guaranteed Maturity Sum Assured.

Eligibility - Max Life Premium Return Protection Plan and Polic

  1. Entry Age:
    • Minimum: 21 years.
    • Maximum:
      • 55 years for a 20 year policy term.
      • 50 years for a 25 year policy term.
      • 45 years for a 30 year policy term.
  2. Maturity Age:
    • Maximum: 75 years

Max Newyork Protection Life Insurance Plans and Policy

 

Max Newyork Child Insurance Plans
Max Life Future Genius Education Plan
Max Shiksha plus Super Plan
Max Newyork Retirement Plans
Max Life Forever Young Pension Plan
Max Life Guaranteed Lifetime Income Plan
Max Life Life Perfect Partner Super Plan
Max Newyork Growth Insurance Plans
Max Life Fast Track Super Plan

Max Newyork Savings Plans
Max Life Guaranteed Income Plan
Max Life Whole Life Super
Max Life Life Gain Premier
Max Newyork Group Insurance Plans
Max Life Group Gratuity Premier Plan
Max Life Group Super Life Premier in lieu of EDLI
Max Life Group Super Life Premier