Max New York Life Insurance Life Gain Endowment Plan

Because emergencies can arrive at any time.
You have many thoughts and dreams for your family and yourself. You want to buy a house once you retire, you wish to send your children to the best schools that money can offer, you want to get them married and settled, you want to go out on a long leisurely vacation with your spouse, and many more. Endowment plans allow you to accumulate your savings for these needs and ensure that the money is available to take care of them.

Life Gain™ Endowment (Participating Plan) provides you with an insurance cover that is guaranteed during the tenure of the policy. This policy also builds cash value, which you can use during your lifetime to fund any unforeseen needs either by surrendering accumulated PUAs or taking a loan. This plan not only takes care of your savings and investment needs but also guarantees you a life cover protection. In addition, this policy is also eligible for bonuses. The Company may declare bonuses, from time to time, from the third policy year and these will be paid out, based on your choice of bonus options.

Eligibility Criteria
Entry age91 days – 65 years (10 year plan)
91 days – 60 years (15 year plan)
91 days – 55 years (20year plan)
91 days – 50 years (25 year plan)
91 days – 50 years (to Age 60 plan)
Maturity Age75 Years
Minimum Sum AssuredRs. 50,000
Maximum Sum AssuredNo Limit (subject to underwriting)
Living Benefit
  • Sum Assured plus Guaranteed Addition @ 10% of Sum Assured plus accrued bonus plus terminal bonus (if any)
Death Benefit
  • Sum Assured plus accrued bonus
  • However , in the case of death before the age of 10 we will refund the premiums 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 the cash value will be used to buy you insurance coverage in one of the following ways:

  • Reduced Paid Up: A smaller 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
  • Tax benefits on premiums and maturity proceeds
  • Additional protection through riders
  • Bonus declared every year from 3rd policy year onwards

Download its brochure here.

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