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
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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.
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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
- 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.
- Maturity Age:
- Maximum: 75 years
Max Newyork Protection Life Insurance Plans and Policy |
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| Max Newyork Protection Plans |
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| Max Life Cancer Insurance Plan |
| Max Life Super Term Plan |
| Max Life Premium Return Protection Plan |
| Max Newyork Child Insurance Plans |
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| Max Life Future Genius Education Plan |
| Max Shiksha plus Super Plan |
| Max Newyork Retirement Plans |
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| Max Life Forever Young Pension Plan |
| Max Life Guaranteed Lifetime Income Plan |
| Max Life Life Perfect Partner Super Plan |
| Max Newyork Growth Insurance Plans |
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| Max Life Fast Track Super Plan |
| Max Newyork Savings Plans |
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| Max Life Guaranteed Income Plan |
| Max Life Whole Life Super |
| Max Life Life Gain Premier |
| Max Newyork Group Insurance Plans |
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| Max Life Group Gratuity Premier Plan |
| Max Life Group Super Life Premier in lieu of EDLI |
| Max Life Group Super Life Premier |