Max New York Life – Life Partner Plus Plan

In your journey through life, you will need to take care of changing needs like asset creation, investing for retirement, children’s education and marriage and so on. At Max New York Life, we understand your desire to take care of these needs and yet simplify your financial planning and investment. That is why we have introduced Max New York Life’s Life Partner Plus™ Plan (Limited Pay Endowment to Age 75), a life insurance plan that offers you protection for life, cash bonuses, and multiple options to utilize these cash bonuses to meet all your individual requirements.

This plan offers you triple benefits. It gives you maturity benefits at the age of 75, provides you a life coverage insurance and fulfill the financial needs of your family members, incase of your untimely death and offers you money back feature as well, where we will pay you a part of the sum assured at regular intervals to take care of your periodic foreseen needs. 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 the various rider options available.

Eligibility Criteria
CriteriaEligibility
Entry age91 days to 55 years20 year to 55 years (for all riders except Term Renewable and Convertible rider where the maximum entry age is 50)
Maturity age75 years
Sum AssuredRs. 50,000 onwards
Premium payment term3,7,10,20 years
Living Benefit
  • Money backs @ 7.5% of the Initial Sum Assured will be paid on each policy anniversary from age 61 to 75.
  • Sum Assured with Sum Assured of Paid Up Additions, if any on maturity
Death Benefit
  • On death of life insured , we will pay an amount equal to Sum Assured plus accrued bonuses (if any)
  • If death occurs before life insured reaches age 10 the company will refund all the premiums paid along with interest
Bonus Options
  • Paid in Cash
  • Premium Offsett
  • Paid up Additions
Non-Forfeiture Options
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 is for part of the remaining term of your policy.

In case , you do not want either of the above then you can opt to take the cash value by cheque

  • Guaranteed Financial Protection
  • Guaranteed money backs for 15 years
  • Limited Premium payment term
  • Tax benefits on premiums and maturity proceeds
  • Additional protection through riders
  • Bonus declared every year from 3rd policy year onwards

Download its brochure here.

Rate this post






+Admin


Leave a Reply

Your email address will not be published. Required fields are marked *