Whether it’s your child’s marriage, their higher education, buy a home for your family, pay off a housing loan or create a fund for your retirement, Max New York Life’s 20 year endowment plan is always there to provide you financial support. It is a perfect money-saver solution. On its maturity at the end of 20 years, this Policy not only gives you a guaranteed sum but also any bonus it accumulates. 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. Under this policy, you can access any cash surrender value that accumulates in the policy, in case you have any unforeseen expenses during the policy term.
|Entry age||20 years to 50 years|
|Maturity age||70 years|
|Minimum Sum Assured||Rs. 100,000|
|Maximum Sum Assured||Rs. 5 crore|
|In case you are unable to pay your premiums, your policy will lapse and we will utilize your cash value to buy you insurance coverage in one of the following ways:Reduced Paid Up :A lower Sum Assured for the remaining term of your policy|
Extended Term Insurance: The same Sum Assured for part of the remaining term of your policy
In case you do not want either of the above, you can choose to take the cash value by cheque.
- Guaranteed Financial Protection
- Tax benefits on premiums and maturity proceeds
- Additional protection through riders
- Bonus declared every year from 3rd policy year onwards
Download its brochure here.