Max New York Life Insurance – Level Term Policy (Non – Par/Non – Con)



In the exciting journey of life, there will be uncertainties, and there will be various occasions when you have to play or assume added responsibilities being the head of the family. The much-anticipated arrival of a new member in the family, the purchase of your dream house, the wonderful event of your marriage, your children’s higher education or their marriage may all be described as planned life events, but they bring their own share of uncertainties. It is important to be financially secured and prepared to meet these uncertainties and make your family feel fully protected, should something unfortunate happen to you.

Max New York Life’s Level Term (Non Participating) Policy is a plan that covers your life at a very low cost and reduces the consequent hardship your family may have to bear in the unfortunate event of your death. Incase of the unfortunate death of the policy holder during the term of the plan, an amount equal to the sum assured is paid to the nominee.

Eligibility Criteria
Eligibility Criteria
Age at Entry 18 years to 55 years
Maximum Age at Maturity 60 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, Single
Benefits
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.

Tax benefits:
You are entitled to the following tax benefits under Income Tax Act 1961:
  • Your premiums are eligible for deduction u/s 80C up to Rs.1,50,000/- every year.
  • Your DD rider premiums are eligible for an additional deduction u/s 80D up to Rs.15,000/- every year.
  • Your claim amounts (from death) are eligible for tax exemption u/s 10(10D).

In the exciting journey of your life, there will be uncertainties. Additionally there may be times and occasions when you have to assume additional responsibilities as the head of the family. Max New York Life’s Level Term (Non Participating) Policy insures your life at a very low cost and reduces any hardship your family may have to bear in the unfortunate event of your death.



Download its brochure here.

Max New York Life Insurance – Level Term Policy (Non – Par/Non – Con)
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