Having a Max Benefit on a pet insurance policy allows the pet owner to claim up to a specified limit on the pet insurance policy year after year and allows you to put in a claim for the same condition that the pet is treated for more than once unlike a regular pet insurance policy.
However the pet insurance can max out and then when you reach the maximum payout amount in that time period then you usually have to pay the rest of the amount of the vet bills out of your own pocket.