Max New York Life Insurance – Five Yr Renewable and Convertible Plan (Non – Par)
Life with its fascinating moments also has its share of uncertainties and planning ahead is extremely important to face all these uncertainties that may arise from time to time. That’s the reason you need a protection plan, which would serve your protection needs and safeguard your family from any financial insecurity at times of crisis or at the unfortunate event of your demise.
Max New York Life’s Five Year Renewable and Convertible Term Insurance (Non-Participating) plan not only provide you with a low cost insurance cover during its tenure of five years, it also helps you plan in advance for various future needs and your family’s financial security, should anything unfortunate happen to you. Offering a guaranteed Death Benefit, this plan is particularly useful as a short-term protection plan. An important feature of this policy is that it allows the insured to convert the policy to a regular policy during the tenure of the policy.
|Age at Entry||20 to 60 years|
|Maximum Age at Maturity||65 years|
|Term||5, 10, 15, 20 or 25 years or to Age 60 years|
|Sum Assured||Rs. 2,50,000 to Rs. 5 Crore|
|Premium Payment Options||Annual, Semi-annual, Quarterly, Monthly|
|On death of life insured: In case of the unfortunate death of the life insured during the term of the plan, an amount equal to the Sum assured is paid to the beneficiary.|
|You are entitled to the following tax benefits under Income Tax Act 1961:|
|Unique Features in This Policy:|
|This plan can be renewed every five years and is convertible to any permanent plan at any time during the tenure of the plan.|
Five Year Renewable and Convertible Term Insurance (Non-Participating) provides you with a low cost insurance cover during its tenure of five years. It is also convertible any time into any permanent life insurance policy from MNYL, so that you are able to take advantage of increasing your savings when your responsibilities increase viz. on marriage, or on child birth
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