npavan78
18-08-2008, 09:35 AM
All of us desire a lavish and comfortable life. Max New York Life wants you to think beyond basic necessities of life i.e. Food, Clothes and Shelter. The latest Life Maker™ Premium Investment Plan gives you a lot of choices - especially when you are looking for Great life style, Big Home, your own well established Business and top of all - Protection for your family. Our Unit linked Life Insurance plan can be the financial cornerstone for your objectives. Max New York Life Insurance provides you a powerful investment-cum-insurance plan where you can direct your investments in the customized unit linked funds such as equities, money market instruments, investment grade corporate bonds, and government securities. These funds offer a wide range of returns basis market returns. You can choose to invest your premiums in one or more of these funds, basis your risk taking ability.
The switching feature of this policy provides you the facility to change the investment pattern by moving from one fund to other fund(s) amongst the funds offered under this contract and in case of unforeseen urgent needs; the plan ensures easy liquidity to you by accessing your fund through surrender benefit.
Five attractive investment funds to choose from
Flexibility to choose premium payment term
Additional protection against disease and disability through riders
Flexibility to invest a lump sum amount through top ups
Free Loyalty Units
Tax benefit on premiums and maturity value
Eligibility Criteria
Criteria Eligibility
Entry Age (age as at last birthday) Any age between 91 days to 65 years (maximum issue age is 50 years with DD rider and 55 years with PAB rider)
Premium Payment Term Regular Pay - Equal to Policy Term
Limited Pay - 5/10/15 years
Policy Term (in whole years) Regular Pay - Pick-a-tenor (10 years to 30 years)
Limited Pay – 5 pay – 10 years policy term
10 pay – 20 years policy term
15 pay – 30 years policy
term(Subject to maximum age at maturity of 75 years)
Maximum Maturity Age 75 years on last birthday
Minimum Sum Assured Rs. 100,000
Minimum Annual Target Premium Rs. 20,000
Maturity Benefit
At maturity value , we will pay you the fund value.
In addition to this :
This plan also offers you the Settlement Option on maturity where your policy will continue for a time period not exceeding five years but the insurance cover will terminate on maturity
Persistency Units - On paying regular premiums, we will allocate Persistency Units to your unit account on the 9th policy anniversary and on every 3rd policy anniversary thereafter provided your policy is in-force at that anniversary.
Death Benefit
Higher of the Sum Assured or the fund value of the policy on death
However, if the Life Insured dies before attaining age 10 years, we will only pay the fund value of the policy.
The plan provides you an additional protection against disability and disease through riders. The following riders are available:
Personal Accident Benefit (PAB) Rider: This rider provides a lump-sum amount if you die in an accident or are involved in an accident, which results in Total and Permanent Disability.
Dread Disease (DD) Rider: This rider provides a huge amount on you being diagnosed with any of the ten dread diseases covered or your undergoing the surgery covered.
You have the flexibility to direct your investments in any one or more of the following five unit linked investment funds of the Company: SECURE, CONSERVATIVE, BALANCED, GROWTH and GROWTH SUPER. These funds invest in Fixed Income and equity assets as follows :
Select any one or all of the mentioned funds Fund Secure Fund Conservative Fund Balanced Fund Growth Fund Growth Super Fund
Investment Type
Government Securities 50-100% 50 - 80% 20 - 50% 0 - 30% 0-20%
Corporate Bonds (investment grade) 0-50% 0 - 50% 20 - 40% 0 - 30% 0-20%
Money Market Instruments / Cash 0-20% 0 - 20% 0 - 20% 0 - 20% 0-20%
Equities NIL 0 - 10% 10 - 40% 10 - 70% 70-100%
Flexibilities
Switching: We provide you with the facility to change the investment pattern by moving from one fund to any other fund(s) amongst the funds offered under this contract. Every policy year, we offer you six free switches.
Premium Re-Direction: This is the facility that allows you to modify the allocation of premiums into an investment pattern that is different from the existing pattern. Every policy year, we offer you three free redirections.
Partial Withdrawal: If you wish to withdraw a part of your fund, you can make partial withdrawals up to 20% of surrender value in any policy year by cancellation of units from your unit account. Partial withdrawals are allowed only after three policy years.
Surrenders: In case of unforeseen needs it ensures easy liquidity to you by accessing your fund through surrender benefit. However, full surrender is possible only after an amount equal to three years ATP has been paid.
The switching feature of this policy provides you the facility to change the investment pattern by moving from one fund to other fund(s) amongst the funds offered under this contract and in case of unforeseen urgent needs; the plan ensures easy liquidity to you by accessing your fund through surrender benefit.
Five attractive investment funds to choose from
Flexibility to choose premium payment term
Additional protection against disease and disability through riders
Flexibility to invest a lump sum amount through top ups
Free Loyalty Units
Tax benefit on premiums and maturity value
Eligibility Criteria
Criteria Eligibility
Entry Age (age as at last birthday) Any age between 91 days to 65 years (maximum issue age is 50 years with DD rider and 55 years with PAB rider)
Premium Payment Term Regular Pay - Equal to Policy Term
Limited Pay - 5/10/15 years
Policy Term (in whole years) Regular Pay - Pick-a-tenor (10 years to 30 years)
Limited Pay – 5 pay – 10 years policy term
10 pay – 20 years policy term
15 pay – 30 years policy
term(Subject to maximum age at maturity of 75 years)
Maximum Maturity Age 75 years on last birthday
Minimum Sum Assured Rs. 100,000
Minimum Annual Target Premium Rs. 20,000
Maturity Benefit
At maturity value , we will pay you the fund value.
In addition to this :
This plan also offers you the Settlement Option on maturity where your policy will continue for a time period not exceeding five years but the insurance cover will terminate on maturity
Persistency Units - On paying regular premiums, we will allocate Persistency Units to your unit account on the 9th policy anniversary and on every 3rd policy anniversary thereafter provided your policy is in-force at that anniversary.
Death Benefit
Higher of the Sum Assured or the fund value of the policy on death
However, if the Life Insured dies before attaining age 10 years, we will only pay the fund value of the policy.
The plan provides you an additional protection against disability and disease through riders. The following riders are available:
Personal Accident Benefit (PAB) Rider: This rider provides a lump-sum amount if you die in an accident or are involved in an accident, which results in Total and Permanent Disability.
Dread Disease (DD) Rider: This rider provides a huge amount on you being diagnosed with any of the ten dread diseases covered or your undergoing the surgery covered.
You have the flexibility to direct your investments in any one or more of the following five unit linked investment funds of the Company: SECURE, CONSERVATIVE, BALANCED, GROWTH and GROWTH SUPER. These funds invest in Fixed Income and equity assets as follows :
Select any one or all of the mentioned funds Fund Secure Fund Conservative Fund Balanced Fund Growth Fund Growth Super Fund
Investment Type
Government Securities 50-100% 50 - 80% 20 - 50% 0 - 30% 0-20%
Corporate Bonds (investment grade) 0-50% 0 - 50% 20 - 40% 0 - 30% 0-20%
Money Market Instruments / Cash 0-20% 0 - 20% 0 - 20% 0 - 20% 0-20%
Equities NIL 0 - 10% 10 - 40% 10 - 70% 70-100%
Flexibilities
Switching: We provide you with the facility to change the investment pattern by moving from one fund to any other fund(s) amongst the funds offered under this contract. Every policy year, we offer you six free switches.
Premium Re-Direction: This is the facility that allows you to modify the allocation of premiums into an investment pattern that is different from the existing pattern. Every policy year, we offer you three free redirections.
Partial Withdrawal: If you wish to withdraw a part of your fund, you can make partial withdrawals up to 20% of surrender value in any policy year by cancellation of units from your unit account. Partial withdrawals are allowed only after three policy years.
Surrenders: In case of unforeseen needs it ensures easy liquidity to you by accessing your fund through surrender benefit. However, full surrender is possible only after an amount equal to three years ATP has been paid.