Max New York Life Insurance Fortune Builder Plan

You have always fulfilled all the wishes of your family be it a new car a vacation or even a new home. To fulfill your dreams you need to plan accordingly. You need an investment plan that accurately asses your requirements, creates wealth and also preserves it and also rewards you for your loyalty.

Therefore choose the plan that will give you

    • Wealth creation through an extensive variety of expertly managed funds
    • Annual Income for family after death of policyholder
  • Reward of Guaranteed Loyalty Additions up to 290%
  • Safety of Returns through Money Market Fund
  • Protection of life through Rider options
  • Dynamic Fund Allocation to enable protection of corpus from market volatility
Eligibility Criteria
CriteriaEligibility
Entry AgeMinimum: 7 years
Maximum: 60 years
Maturity AgeMaximum: 80 years
Policy TermFixed term of 10/15/20 years
Premium Payment OptionsRegular Pay
Minimum Annual Target PremiumRs. 24,000
Maturity Benefit:
Fund Value, which would also include Guaranteed Loyalty Additions.
Coverage ChoiceYear 10Year 15Year 20Total addition
10120% of ATP120% of ATP
1560% of ATP150% of ATP210% of ATP
2030% of ATP60% of ATP200% of ATP     290% of ATP
Settlement Option:
On maturity you can take your entire money in a lump-sum or opt for a settlement option wherein:
  • You will receive periodical payments
  • Policy will continue without Death benefit for a maximum of 5 years, where it will continue to remain invested
Death Benefit:
  • Higher of Fund Value or Sum Assured
  • Family Income Benefit an amount equal to 10% of sum assured every year for 10 years or till original policy maturity date (whichever happens earlier) is paid to the nominees, subject to a maximum of 100% of Sum Assured

  • Well Managed investment options to suit each risk appetite
  • Capital safety in uncertain times with Money Market Fund
  • Guaranteed additions in the form of Guaranteed Loyalty Additions up to 290% of annual premium
  • Extensive protection through high sum assured multiples
  • Enhanced protection through Riders

You have the choice of any of the 7 expertly managed funds to direct your investments in any one or more of the following funds of the company.

FundAsset Types
Government SecuritiesCorporate Bonds (Investment Grade)Money Market and Cash InstrumentsEquity
Secure50-100%0-50%0-40%Nil
Conservative50-80%0-50%0-40%0-15%
Balanced20-50%20-40%0-40%10-40%
Growth0-30%0-30%0-40%20-70%
Growth Super0-20%0-20%0-30%70-100%
Dynamic Opportunities0-100%0-100%0-40%0-100%
Money MarketNilNil100%Nil

Dynamic Fund Allocation

  • Standardized and Systematic approach of maintaining debt-equity ratio throughout the policy term
  • Strikes right balance between risk and return with respect to age of policy holder
  • Hassle Free Investment (Allocation, Switches, Redirection are taken care of)
  • Hedge against capital erosion in the later years Ideal feature for less savvy investors

 

Flexibilities



Switching:

  • Existing investment can be moved in totality or in a certain proportion to one or more funds from the current one
  • 12 free switches/policy year

Premium Redirection:

  • Modify the flow of future investments, different from the existing pattern.
  • 12 free redirections/policy year

Partial Withdrawals:

  • 12 free partial withdrawals/policy year
  • Can be made anytime post completion of 3 years
  • Maximum: 20% of Fund Value -Fund Value cannot be less than 1.5 times Initial ATP

Download its brochure here.

Rate this post






+Admin


2 thoughts on “Max New York Life Insurance Fortune Builder Plan



Leave a Reply

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