Max New York Life – Max New York Life Secure Dreams
Life is full of uncertainties. Nothing is guaranteed. How can you overcome these uncertainties and be more in control of your life and your surroundings? Max New York Life presents a unique plan to take care of all your uncertainities that has not just one guarantee but is loaded with a bouquet of powerful guaranteed benefits! Presenting Max New York Life Secure Dreams, a unique plan that guarantees your family’s future, your future income and a whole lot more! What more could you want from a plan?
We have designed Secure Dreams to protect you and your family financially. The plan aims at safeguarding your hard earned money through safe investments, but ensuring that your money grows over time. As we understand that convenience matters to you, we offer this plan without you undergoing any medical tests. The unique policy continuance feature with premium funding ensures that the dreams you have weaved for your loved ones become a reality even if you are not there tomorrow. The flexibility to choose the period of coverage takes care of the goal or life stage for which you want to plan. The plan gives you an opportunity to save big for your long term objectives, even with a little but disciplined savings.
|Entry age of Life insured||21 years to 55 years, age as at last birthday|
|Maximum Maturity age of Life Insured||66 years|
|Policy term||Pick a term between 11 years- 20 years|
|Premium paying term||Equal to policy term|
|Minimum Annual Premium||Rs.15,000|
|Maximum Annual Premium(depending upon the age of Life insured)||Upto 40 years: Rs. 2,00,00041 years to 55 years: Rs. 1,00,000|
|Premium Payment Modes||Annual, Semi-Annual, Quarterly, or Monthly|
|Sum Assured||10 times Annual Premium|
|Guaranteed Policy Continuance with Funding|
|Guaranteed Policy Issuance|
|Guaranteed Living Benefits|
|This plan may entitle you to certain tax benefits on your premiums as well as on your maturity value.|
- U/s 80C of the Income Tax Act 1961 on your premiums.
- U/s 10(10D) of the Income Tax Act 1961 on your maturity proceeds of the policy.
Please note that if the premium paid in a financial year exceeds 20% of the Sum Assured, 10 (10D) benefit will not be available and 80C benefit will not be available for the premium exceeding 20% of the Sum Assured under the current tax laws.
The premiums collected in this plan will only be invested in government securities and highly rated corporate bonds in a proportion as decided by the company from time to time. These investments will ensure that your money is safe and secure and at least earns a minimum guaranteed interest credit at 3.5% per annum, while we work towards maximizing your investment returns. The returns earned on the overall investments will decide on the rate of interest to be credited to the policyholders. It means that even if in future the interest rates drop, Max New York Life will honor the commitment of crediting at least as per the minimum guaranteed rate to all the eligible policyholders.
Declared interest crediting rate @ 6.5% p.a. for Jan – Mar ‘ 10**
**The interest crediting rate is only applicable for Jan – Mar ‘ 10 and is subject to change thereafter
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