The Premium Paying Term (PPT) is the duration for which the policyholder needs to pay the premiums for their life insurance policy. In a term insurance policy, the premium paying term is usually the same as the policy term, which is the duration for which the policy provides coverage. For example, if a policyholder purchases a 20-year term insurance policy with an annual premium payment mode, they will need to pay the premiums every year for 20 years.
In other types of life insurance policies like endowment plans, money-back plans, or whole life insurance, the premium paying term may be shorter than the policy term. For example, in a 20-year endowment plan, the policyholder may need to pay premiums for 10 or 15 years only, while the policy continues to provide coverage for the entire 20-year duration.
How to Download Max Life Insurance Premium Receipt Online?
- Step 1: Open Google and Search for the “Max Life Insurance Customer Services” portal.
- Step 2: Click on Download Premium Receipt and then Log in to your account by using your policy number or client ID and date of birth.
- Step 3: Then click on the “Submit” button to request OTP. Enter the OTP received to your registered mobile number and email.
- Step 4: Once logged in to your account, select premium receipts and year and then click on generate.
- Step 5: You can download your Max Life Insurance Premium Payment Receipt by selecting your policy or you can send it to your registered mobile number.
Also read to know more about Max Life Insurance: Premium Receipts, Surrender Value, Auto Pay
How Much Premium for 20 Crore Term Insurance Policy?
Term insurance plans are affordable and provide high coverage at a low cost. 20 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 20 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 20 crore term insurance policy might range from approximately Rs. 1,20,000* to Rs. 1,50,000*.
How Much Premium for 15 Crore Term Insurance Policy?
Term insurance plans are affordable and provide high coverage at a low cost. 15 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 15 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 15 crore term insurance policy might range from approximately Rs. 1,00,000* to Rs. 1,15,000*.
How Much Premium for 10 Crore Term Insurance Policy?
Term insurance plans are affordable and provide high coverage at a low cost. 10 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 10 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 10 crore term insurance policy might range from approximately Rs. 75,000* to Rs. 85,000*.
How Much Premium for 7 Crore Term Insurance Policy?
Term insurance plans are affordable and provide high coverage at a low cost. 7 Crore term Insurance is a term life insurance policy that offers a sum assured of Rs. 7 Crore. In case of an unexpected death of the life assured during the policy term, a death benefit will be provided to the nominee mentioned under the term insurance policy. For a 30-year-old non-smoker, the annual premium for a 7 crore term insurance policy might range from approximately Rs. 40,000* to Rs. 60,000*.