npavan78
26-12-2008, 07:50 AM
Max New York Life’s – Life Gain™ Plus 25 is a limited pay endowment plan to meet your financial goals to ensure your complete peace of mind. You can enjoy the full benefits of an endowment plan with life insurance that requires you to pay premiums only over a very limited period, while you get cover for the entire tenure! Also, your money grows quickly, resulting in a substantial lump sum on maturity.
In case of unfortunate death, this plan also provides sum assured plus additional insurance coverage purchased from bonuses for first 5 years and then doubles the same afterwards.
You can also customize your policy to meet your specific needs. We offer you the flexibility to enhance the value of your policy by using various rider options available. In addition, you are also eligible for bonuses and terminal illness benefits, where you can use 50% of your sum assured at the time of your treatment and the balance of the sum assured will be payable to your family on the occurrence of the insured event.
This policy helps you save for any specific need that you foresee 25 years down the line.
Guaranteed Financial Protection
Choice of premium payment term
Tax benefits on premiums and maturity proceeds
Additional protection through riders
Bonus is declared every year from 3rd policy year onwards
Eligibility Criteria
Criteria Eligibility
Entry age 18 years to 50 years
Maturity age 75 years
Premium Payment Term 6 / 10 / 15 years
Minimum Sum Assured Rs. 50,000
Maximum Sum Assured No limits, subject to underwriting
Living Benefit
Sum Assured plus accrued bonus plus Guaranteed Additions @ 10% of Sum Assured.
Death Benefit
In the first five years - Sum Assured plus additional insurance coverage purchased from bonuses.
After five years - Double the Sum Assured plus additional insurance coverage purchased from bonuses.
Bonus Option
Paid in Cash
Premium Offsett
Paid up Additions
Dread Disease Rider Personal Accident Benefit Rider Term / Term R&C Riders
Waiver of Premium (WOP) / Payor Riders
Age 20 – 50 Years (depending upon Term)
Benefits Incase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured.
Tenors Available: Pick-a-Term: Minimum 10 Years
Maximum 40 Years
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 10 Lacs
Benefit Features Gives an additional benefit upon diagnosis of any of the ten diseases viz – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, COMA, Heart Valve Replacement/Repair
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For each frequency, multiply by theappropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 55 Years
Benefits The Personal Accident Benefit is a low cost additional benefit that is paid in case the insured’s death or total and permanent disability is caused by an accident.
Total and Permanent Disability means accidental injuries which, within 180 days from the happening of such accident and independently of all other causes, results in:
irrecoverable loss of entire sight in both eyes; or
amputation or loss of use, of both hands at or above the wrist; or
amputation or loss of use, of both feet at or above the ankles; or
amputation or loss of use, of one hand at or above the wrist and one foot at or above the ankle,
such that the life insured becomes incapable of engaging in any gainful activity or carrying out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit.
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 40 Lacs
Benefit Features Includes benefit incase of accidental death or permanent and total disability
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For traditional policies, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 55 Years
Benefits The term rider is a pick-a-term plan starting from 5 years term to a plan to age 60. The rider allows the insured to purchase additional coverage at low cost> the only benefit is paid on the untimely death of the insured.
Expiry Age 60 Years
Minimum Face Amount Rs 1lac
Maximum Face Amount The lower of base face amount or Rs. 5 Lacs
Premium per Rs ‘000 for a for a male of age for 5 years Rs. 2.70
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For each frequency, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 45 Years (Whole Life Par)
20 – 55 Years (All other plans)
Benefits The waiver of premium protects the life insured from the burden of paying the premiums on his insurance in case he/she gets totally disabled. “Total Disability” or “Totally Disabled” refers to the life insured becoming permanently and totally disabled as a result of injury or sickness and is thereby totally incapable of engaging in any gainful activity or carry out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit.
Expiry Age 55 Years (Whole Life Par)
60 Years (All other plans)
Minimum Face Amount Linked to Base and relevant rider Premiums
Maximum Face Amount Subject to underwriting
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For each frequency, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 38 Years
Benefits The GIO allows the life insured to purchase additional insurance, similar to the base insurance, over many aged linked dates. In addition there are two life events – Child Birth (includes adoption) and Marriage that allow the insured to buy additional insurance. The age linked dates are every 3 years from the date of purchasing the policy term. Subject to the limits, the insured need not to give evidence of insurability while taking additional life insurance. A maximum of 7 options will be allowed. The limit includes all life event linked options also.
Expiry Age 41 Years
Minimum Face Amount 25% of the Base Face Amount
Maximum Face Amount Maximum face amount that can be purchased at each option age is the lower of one the base f ace amount at issue or Rs. 2.5 lakhs. Option available at every third Policy anniversary from date of issue along with extra options at child birth & Marriage are subject to overall cap of 17.5 lakh for all 7 occasions.
Calculation of Modal Premiums, Semi Annual, Quarterly , Monthly Modes For the following frequencies multiply by the factor given below:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 38 Years
Benefits The GIO allows the life insured to purchase additional insurance, similar to the base insurance, over many aged linked dates. In addition there are two life events – Child Birth (includes adoption) and Marriage that allow the insured to buy additional insurance. The age linked dates are every 3 years from the date of purchasing the policy term. Subject to the limits, the insured need not to give evidence of insurability while taking additional life insurance. A maximum of 7 options will be allowed. The limit includes all life event linked options also.
Expiry Age 41 Years
Minimum Face Amount 25% of the Base Face Amount
Maximum Face Amount Maximum face amount that can be purchased at each option age is the lower of one the base f ace amount at issue or Rs. 2.5 lakhs. Option available at every third Policy anniversary from date of issue along with extra options at child birth & Marriage are subject to overall cap of 17.5 lakh for all 7 occasions.
Calculation of Modal Premiums, Semi Annual, Quarterly , Monthly Modes For the following frequencies multiply by the factor given below:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
In case of unfortunate death, this plan also provides sum assured plus additional insurance coverage purchased from bonuses for first 5 years and then doubles the same afterwards.
You can also customize your policy to meet your specific needs. We offer you the flexibility to enhance the value of your policy by using various rider options available. In addition, you are also eligible for bonuses and terminal illness benefits, where you can use 50% of your sum assured at the time of your treatment and the balance of the sum assured will be payable to your family on the occurrence of the insured event.
This policy helps you save for any specific need that you foresee 25 years down the line.
Guaranteed Financial Protection
Choice of premium payment term
Tax benefits on premiums and maturity proceeds
Additional protection through riders
Bonus is declared every year from 3rd policy year onwards
Eligibility Criteria
Criteria Eligibility
Entry age 18 years to 50 years
Maturity age 75 years
Premium Payment Term 6 / 10 / 15 years
Minimum Sum Assured Rs. 50,000
Maximum Sum Assured No limits, subject to underwriting
Living Benefit
Sum Assured plus accrued bonus plus Guaranteed Additions @ 10% of Sum Assured.
Death Benefit
In the first five years - Sum Assured plus additional insurance coverage purchased from bonuses.
After five years - Double the Sum Assured plus additional insurance coverage purchased from bonuses.
Bonus Option
Paid in Cash
Premium Offsett
Paid up Additions
Dread Disease Rider Personal Accident Benefit Rider Term / Term R&C Riders
Waiver of Premium (WOP) / Payor Riders
Age 20 – 50 Years (depending upon Term)
Benefits Incase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured.
Tenors Available: Pick-a-Term: Minimum 10 Years
Maximum 40 Years
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 10 Lacs
Benefit Features Gives an additional benefit upon diagnosis of any of the ten diseases viz – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, COMA, Heart Valve Replacement/Repair
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For each frequency, multiply by theappropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 55 Years
Benefits The Personal Accident Benefit is a low cost additional benefit that is paid in case the insured’s death or total and permanent disability is caused by an accident.
Total and Permanent Disability means accidental injuries which, within 180 days from the happening of such accident and independently of all other causes, results in:
irrecoverable loss of entire sight in both eyes; or
amputation or loss of use, of both hands at or above the wrist; or
amputation or loss of use, of both feet at or above the ankles; or
amputation or loss of use, of one hand at or above the wrist and one foot at or above the ankle,
such that the life insured becomes incapable of engaging in any gainful activity or carrying out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit.
Expiry Age 60 Years
Minimum Face Amount Rs 1 lac
Maximum Face Amount The lower of base face amount or Rs. 40 Lacs
Benefit Features Includes benefit incase of accidental death or permanent and total disability
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For traditional policies, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 55 Years
Benefits The term rider is a pick-a-term plan starting from 5 years term to a plan to age 60. The rider allows the insured to purchase additional coverage at low cost> the only benefit is paid on the untimely death of the insured.
Expiry Age 60 Years
Minimum Face Amount Rs 1lac
Maximum Face Amount The lower of base face amount or Rs. 5 Lacs
Premium per Rs ‘000 for a for a male of age for 5 years Rs. 2.70
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For each frequency, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 45 Years (Whole Life Par)
20 – 55 Years (All other plans)
Benefits The waiver of premium protects the life insured from the burden of paying the premiums on his insurance in case he/she gets totally disabled. “Total Disability” or “Totally Disabled” refers to the life insured becoming permanently and totally disabled as a result of injury or sickness and is thereby totally incapable of engaging in any gainful activity or carry out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit.
Expiry Age 55 Years (Whole Life Par)
60 Years (All other plans)
Minimum Face Amount Linked to Base and relevant rider Premiums
Maximum Face Amount Subject to underwriting
Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes For each frequency, multiply by the appropriate factor:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 38 Years
Benefits The GIO allows the life insured to purchase additional insurance, similar to the base insurance, over many aged linked dates. In addition there are two life events – Child Birth (includes adoption) and Marriage that allow the insured to buy additional insurance. The age linked dates are every 3 years from the date of purchasing the policy term. Subject to the limits, the insured need not to give evidence of insurability while taking additional life insurance. A maximum of 7 options will be allowed. The limit includes all life event linked options also.
Expiry Age 41 Years
Minimum Face Amount 25% of the Base Face Amount
Maximum Face Amount Maximum face amount that can be purchased at each option age is the lower of one the base f ace amount at issue or Rs. 2.5 lakhs. Option available at every third Policy anniversary from date of issue along with extra options at child birth & Marriage are subject to overall cap of 17.5 lakh for all 7 occasions.
Calculation of Modal Premiums, Semi Annual, Quarterly , Monthly Modes For the following frequencies multiply by the factor given below:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090
Age 20 – 38 Years
Benefits The GIO allows the life insured to purchase additional insurance, similar to the base insurance, over many aged linked dates. In addition there are two life events – Child Birth (includes adoption) and Marriage that allow the insured to buy additional insurance. The age linked dates are every 3 years from the date of purchasing the policy term. Subject to the limits, the insured need not to give evidence of insurability while taking additional life insurance. A maximum of 7 options will be allowed. The limit includes all life event linked options also.
Expiry Age 41 Years
Minimum Face Amount 25% of the Base Face Amount
Maximum Face Amount Maximum face amount that can be purchased at each option age is the lower of one the base f ace amount at issue or Rs. 2.5 lakhs. Option available at every third Policy anniversary from date of issue along with extra options at child birth & Marriage are subject to overall cap of 17.5 lakh for all 7 occasions.
Calculation of Modal Premiums, Semi Annual, Quarterly , Monthly Modes For the following frequencies multiply by the factor given below:
Annual 1.000
Semi Annual 0.520
Quarterly 0.265
Monthly 0.090