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Max Life Premium Return Protection Plan is a simple term insurance plan that offers coverage along with a 'Return of Premium' benefit. The plan offers a limited premium-paying term of 11 years making it a smart choice for securing a family's future. The policyholder has the flexibility to choose a protection period (20/25/30 Years). The policy offers coverage of a maximum of 1 crore.
Max Life Premium Return Protection Plan offers you a range of benefits including:
Minimum Age - 21 years Maximum Age - 55 years
Maximum Maturity Age - 75 years
Minimum term - 20 years Maximum term - 30 years
Base sum assured: 50 lakhs to no limit
The policy loan is not available under Max Life Premium Return Protection Plan.
Annual, half-yearly, quarterly & monthly
Let's understand how the Max Life Premium Return Protection Plan works with a simple premium illustration.
Mr. Verma is looking for a term plan that returns his premiums in case he survives the policy tenure.
His financial advisor advised him to buy the Max Life Premium Return Protection Plan. He visited PolicyX.com
Let's understand how the Max Life Premium Return Protection Plan works for him with a premium illustration table.
Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
30 years | Rs 30,500 | 30 years | 11 years | Rs 3,35,500 | Rs 25 lakhs |
Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 25 lakhs will be paid to their nominee.
Here are the benefits associated with the Max Life Premium Return Protection
If the policyholder outlives the policy term, the company will pay back all premiums paid. If the person has paid any extra premium for any additional benefit that too will be paid back.
In the event of the death of the insured during the policy term, the nominee will receive the payout in the name of the death benefit.
The insured gets long-term protection for their loved ones with an option to choose a policy term of 20, 25, or 30 years.
Max Life Premium Return Protection Plan offers term insurance tax benefits under section 80C of the income tax act,1961 for up to 1.5 lakhs of the total premium paid in the same financial year.
Max Life Term Insurance Plans
By paying the premium for a fixed period of 11 years, the policyholder can receive benefits for 30 years. This makes the policy a long-term protection plan with a limited payment period.
The offers the policyholder to pay their premium annually, semi-annually, quarterly or monthly.
Pay for a limited premium payment term of 11 years only and enjoy lifetime benefits
Max Life Return of Premium Plan offers lower premium rates for their female policyholders.
Here is the list of exclusions associated with the plan:
Max Life Term ROP plan is a simple pure-term insurance plan with a maturity benefit. The plan offers long-term protection with a policy period extended up to 30 years. The plan offers a limited premium payment term of 11 years, death benefit, and survival benefit.
If you want to know more about the Max Life Premium Return Protection Plan, you can contact our insurance experts at PolicyX.com. Our experts listen to your unique needs and suggest the best possible solution for you. Visit PolicyX.com today!
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The plan offers a maximum sum assured of 25 Lakh.
No, this plan does not offer any rider benefit.
If you drop the plan in the middle, the plan does not offer any surrender benefit.
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Bindiya is a seasoned content writer specializing in keeping readers acquainted with the insurance industry, term insurance developments, and life insurance sector shifts. With an experience of 3 years in insurance, Bindiya ensures that her readers stay well informed with the insurance developments and factually correct information.
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