Retirement is a time when you would like to do the things, which you could not do due to lack of time and your busy life prior to your retirement. This is actually the time when you can truly live your dream such as enjoying a completely relaxed life with your near and dear ones, traveling to exotic vacation destinations, buying a lavish home or a luxurious car, etc. However, to fulfill all these dreams you need sufficient savings or finance.
Catering to the diverse set of needs of various customers looking for retirement planning, Max New York Life offers some splendid retirement plans, which would suit their budget and lifestyle. Max New York Life’s Easy Life™ Retirement Plan Regular Premium/Single Premium (Participating) Policy is designed to help you save money for your retirement. It also provides you with an opportunity to take home a regular retirement income (i.e. pension).
|Entry Age||20 – 60 years|
|Premium Payment Period||10 – 40 years|
|Sum Assured Limits
*Chosen Retirement Age: the age on which your annuity vests.
|Minimum= Rs. 1,00,000
Maximum= Rs. 10 Crore
|Chosen Retirement||50 – 70 years|
(Subject to min. vesting age)
|10 – 40 years|
- On the chosen retirement date: Sum Assured plus additional insurance coverage purchased in way of bonuses.
- On death of life insured: Refund of accumulated premiums plus cash value of additional pure endowments purchased from bonuses
- Choice of Annuity
- Tax Benefit –
1. Your premiums are eligible for deduction u/s 80C up to Rs.1,00,000/- every year.
2. 1/3rd of the corpus can be commuted at vesting age the amount commuted are eligible for tax exemption u/s 10A
Download its brochure here.