Premium Return Protection Plan

Everyone hopes for a happy future where our dreams come true. While we think and constantly plan for the same, our family’s well being and security is always on top of our minds. However, we can never plan enough for the uncertainties of life. Yet, there are ways to safeguard our family’s well being and term insurance plans offer one of the simplest ways to secure your family’s future in case of any eventuality.

 

Moreover, Max Life Premium Return Protection Plan not only offers you protection coverage, but also has the benefit of return of premium payment at the end of the policy term, on survival of the life insured.

 

3 reasons you should buy this plan

  • Pay for a limited premium payment term of 11 years only and enjoy lifetime benefits
  • Get guaranteed return of total premiums paid in case of survival at maturity
  • Flexibility to choose of protection period (20/25/30 years)

What do I get with this plan?

What do I get with this plan?

Here’s all you need to know about this plan

Here’s all you need to know about this plan

Insert Image Maturity/Survival Benefit

At the end of the policy term, you (policyholder) will get guaranteed survival benefit which is the sum of premium installments paid over the payment term.

Please note that you can receive the sum assured as maturity/survival benefit only at the end of the policy term. In case you want to surrender the policy earlier, it could be done only when the policy acquires a surrender value. The policy acquires a surrender value immediately on payment of first three full years’ premium.

Insert Image Death Benefit

In case of death during the policy term, your nominee will get the life cover as a lumpsum.

This amount is highest of the following values:

  • 10 times the Annualized Premium*

  • 105% of Total Premiums** paid

  • Guaranteed Maturity amount (GMSA) which is Total Premium payable over the Premium Payment Term

  • Guaranteed Death cover which is 100% of Sum Assured for non-accidental claims and 150% of Sum Assured for accidental claims***

*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.

***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 independent of any physical or mental illness within 180 days of the date of the accident.

 

Insert Image Tax Benefits

You can get certain tax deductions on your premiums and on proceeds under the policy benefits.

Please note that all such tax deductions are subject to tax laws prevailing at the time of payment of premium or receipt of benefits.

 

Mr. Shrivas, who is a healthy 30 year old, decides to invest in Max Life Premium Return Protection plan for his family. He chooses a life cover of Rs. 25 Lakhs for a policy term of 30 years, with annual Premium Payment of Rs. 30,500 for 11 years.

Scenario 1: Mr. Shrivas pays all his premiums and survives the policy term

All his premiums would be refunded which is 11 times the annualized premium (Rs. 3,35,500). This amount will be paid at the end of the policy term after which the policy will be terminated.

Scenario 2: Mr. Shrivas dies during the policy term

In case of death, the complete Life cover (Rs. 25 Lakhs) will be paid to Mr. Shrivas’ nominee and the policy will be terminated.

Scenario 3: Mr. Shrivas dies due to accident

In case of death due to an accident, 150% of Sum Assured (Rs. 37.5 Lakhs) will be paid to Mr. Shrivas’  nominee and the policy will be terminated.

 Policy  Term

 Minimum Entry Age

 (Age as on Last  Birthday)

 Maximum Entry Age

 (Age as on Last  Birthday)

 20 Years

21 Years

   55 Years

 25 Years

   50 Years

 30 Years

   45 Years

Maximum Maturity Age
(Age as on Last Birthday)

75 years

 

Policy Terms

20/25/30 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  Premium

Minimum 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


Downloads    Actions    
Leaflet 
 
   
Prospectus  
   
Premium Rates Table  
   
Policy Contract  
   

"Wondering how term protection plans are suited for your family’s financial security and well-being? "

Help me understand Term Plans

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments
Claims Paid Percentage

98.26%

98.26%

Individual death claims paid (Src: Max Life Public Disclosure FY 2017-18)

Max Life Presence

210 Offices

210 Offices

Src: Director's Report FY 2016-17

Sum Assured

₹511,541 Cr.

₹511,541 Cr.

In force (individual) Src: Public Disclosure, FY 2017-18

Assets Under Management

₹52,237 Cr.

₹52,237 Cr.

Src: Public Disclosure, FY 2017-18

More reasons why our customers choose us
See what people have to say about this plan
See what people have to say about this plan

“I was searching for a simple and affordable term plan when I found this premium return plan. I met with a Max Life agent to understand all the plan benefits and found the coverage amount and premiums meeting my requirement. It is one-of-a-kind plan and I will recommend it to anyone seeking life insurance options.”

Mr. Palekar, 41 years

Navi Mumbai

Let’s Connect

Let’s Connect

Buy an Insurance Plan
1860 120 5577
1800 200 3383 (Online Term Plan)

online@maxlifeinsurance.com
SMS 'LIFE' to 5616188

Let us call you back
Customer Service
1860 120 5577

service.helpdesk@maxlifeinsurance.com

Write to us
NRI Helpdesk
0124 - 5071300; 6477000

nri.helpdesk@maxlifeinsurance.com