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Max Life

Premium Return Protection Plan

Premium Return Protection Plan
A Non - Participating Limited Pay PlanUIN: 104N083V01

LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT.

Presenting Max Life Premium Return Protection Plan, a premium return policy with comprehensive life cover.

Max Life Premium Return Protection Plan
4.1/5 based on 160 reviews
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    What this plan offers you

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    Plan Benefits

    Maturity BenefitAt the end of Policy Term, the Policyholder will get Guaranteed Maturity Sum Assured which is the Total Premium paid over the Premium Payment Term.

    Death Benefit

    On death during the term of the policy, a lump sum Death Benefit will be paid to the nominee of the life insured.
    The death benefit is equal to the death Sum Assured, which is defined as the higher of:
    i) 10 times the Annualised Premium;
    ii) 105% of Total Premiums paid;
    iii) Guaranteed Maturity Sum Assured (GMSA)
    iv) Guaranteed Death Sum Assured (GDSA);
    Annualised Premium is Annual Premium including extra premium but excluding service tax or any other taxes, cesses or levies, if any.
    Total Premium is all premiums paid including extra premiums and loaded for modal factors but excluding service tax or any other taxes, cesses or levies, if any till date.
    Guaranteed Maturity Sum Assured (GMSA) is the Total Premium payable over the Premium Payment Term.
    Guaranteed Death Sum Assured (GDSA) is 100% of Sum Assured for non-accidental claims and 150% of Sum Assured for accidental claims. Death by accident means a sudden, unforeseen, involuntary event caused by external, visible and violent means as revealed by an autopsy provided such death was caused directly by such accident and independently of any physical or mental illness within 180 days of the date of accident.
    Tax Benefits

    You may be entitled to certain tax benefits on your premiums and Policy benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax consultation.

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    Are you eligible?

    CriteriaEligibility
    Entry ages
    (Age as on Last Birthday)
    Minimum Entry Age – 21 years
    Maximum Entry Age -
    For 20 Year Policy Term - 55 years
    For 25 Year Policy Term- 50 years 
    For 30 Year Policy Term- 45 years
    Maximum Maturity Age
    (Age as on Last Birthday)
    75 years
    Sum assuredMinimum: Rs.  5 Lacs (subject to a minimum premium limit)
    Maximum: Rs 1 Cr
    Note:  The sum assured can only be chosen at intervals of Rs. 50,000
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    How the plan works?

    Mr. Kumar is a healthy 30 year old salaried, married professional and was recently blessed with a baby. He wants to ensure his family continues to maintain a similar lifestyle even if he is not around. He wants to purchase a protection plan at an affordable cost and also wants the premiums paid to be refunded after the term of the policy.
    Step 1: Mr. Kumar decided that he needs a life cover of Rs. 25 Lacs.
    Step 2: Mr. Kumar reviews the three Policy Term options and decides that for his purpose, the 11 pay, 30 years Policy Term is the best option.
    Step 3: The Annualised Premium for his policy at Sum Assured of Rs. 25 Lacs comes out to be Rs. 30,500.

    Click here to view benefits illustration

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    About premium payment

    Policy Terms20/25/30 Years
    Premium Payment Term (PPT)11 years
    Premium Payment Modes and Modal Premium Factors Annual, Semi - Annual, Quarterly and Monthly. For Non - Annual Modes, Modal Factors will be applicable:
    Annual (1.0), Semi - Annual (0.52), Quarterly (0.265) and Monthly (0.09)
    Minimum and Maximum  PremiumMinimum Premium : Rs. 8,500 p.a. (For annual mode policies)
    For Non - Annual Modes, the Modal Factors will be applicable
    Maximum Premium : Based on the Maximum Sum Assured of Rs. 1 Crore
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    Disclaimers

    Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF Phase II, Gurgaon (Haryana) – 122002. For more details on risk factor, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain tax benefits on your premiums and benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the subject matter of solicitation. Trade logos displayed belong to Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co. Ltd. under a license.
    IRDAI - Registration No. 104.
    ARN: Max Life/WebInsert/Indigo/PRPP/Feburary2016/175

    BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS
    IRDAI clarifies to public that

 

For more details on risk factors, terms and conditions please read the sales brochure carefully before concluding a sale.

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3 reasons to get this plan

  • Comprehensive protection with inbuilt accidental death benefit
  • Guaranteed return of premiums on survival at maturity
  • Flexibility to choose the period of protection by paying for a limited period of 11 years

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