LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT

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?

Survival Benefit

Your total premiums paid (including extra premiums) will be returned at the end of the policy term.

Death Benefit

In case of the death during the policy term, the nominee will get a sum assured anywhere in between Rs. 5 lakhs to Rs. 1 crore and the policy will cease thereafter.

Long Term Protection

Get long term protection for your family with an option to choose a policy term of 20, 25, or 30 years

Limited Premium Payment Term

By paying premiums for a fixed term of 11 years, you can receive benefits for 30 years (policy term).

Premium Payment Flexibility

You can choose annual, semi annual, quarterly and monthly premium paying modes.

Tax Savings

Get tax deductions for your premiums and policy benefits based on the prevailing tax laws.

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

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

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Why Choose Max Life

Here are some of the numbers that speak about our accomplishments

Why Choose Max Life

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

99.51%

99.51%

(Source: Individual Death Claim Paid Ratio as per Audited Financials for FY 2022-2023)

Max Life's Presence

269 Offices

269 Offices

(Source: As reported to IRDAI, FY 2022-23)

Sum Assured

₹1,397,142 Cr.

₹1,397,142 Cr.

In force (individual) (Source: Max Life Public Disclosure, FY 2022-23)

Assets Under Management

₹122,857 Cr.

₹122,857 Cr.

(Source: Max Life Public Disclosure, FY 2022-23)

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

Online Sales Helpline
0124 648 8900
 (09:00 AM to 09:00 PM Monday to Saturday)

service.helpdesk@maxlifeinsurance.com
SMS 'LIFE' to 5616188

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Customer Service Helpline
1860 120 5577
(9:00 AM to 6:00 PM Monday to Saturday)
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Please write to us in case of any escalation/feedback/queries.

Write to us
NRI Helpdesk
011-71025900; 011-61329950
(9:00 AM to 6:00 PM Monday to Saturday)

nri.helpdesk@maxlifeinsurance.com