One of the most crucial attributes of what Max Life Smart Term Plan is providing as a benefit is its Premium Back variant. However, remember that the choice to opt for the premium back variant is available only at the inception stage (at the time of buying the policy). It cannot be chosen for in the later stages of the Max Life Smart Term Plan's policy term.
In the simplest of terms, the Premium back variant returns the premiums paid, in case the life insured survives the duration of the policy term. Under the premium back variant of Max Life Smart Term Plan, 100% of the total premiums paid, with the addition of extra underwriting premiums, if any, will be paid at the end of the Smart Term Plan Max Life Insurance policy term. Then the policy terminates.
Note: Any additional premium charged for optional benefits such as ACI benefit and Accident cover option or riders will not be returned at maturity under this Premium back variant. This premium back variant of Max Life Smart Term Plan benefits is available with all Death Benefit options and across all Premium Payment Terms and Policy Terms.
Also read : Features & Benefits of Max Life Online Term Plan
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