With an insurance cover till age 100, Whole Life Participating Plan is designed to provide you a lifetime of security. The good times that you and your family lead should last a lifetime. However one cannot avoid unpleasant surprises and misfortunes in life. The Whole Life Plan provides you with the comfort that your near and dear ones will continue to live their lives in comfort without financial worries even when you are not around.
The Whole Life Plan provides an insurance cover that is guaranteed for life. The policy also builds cash value, which you can use to fund any unforeseen needs. In addition, the policy is also eligible for bonuses. Max New York Life’s savings plans are designed to provide the customer the dual benefits of protection along with the potentially higher returns. This plan also allows you to purchase additional benefits in the form of bonuses that will be paid on maturity of the Base policy or in the unfortunate event of the death of the Life Insured. Additionally, you can also continue to invest more funds without having to provide any further evidence of insurability.
|Entry age||91 days to 70 years|
|Maximum Maturity Age||100 years|
|Premium Payment Term||Regular|
|Minimum Sum Assured||Rs. 100,000|
|Maximum Sum Assured||Rs. 5 Crore|
|We will pay an amount equal to Sum Assured along with accrued bonus (if any)|
|Option to Participate in Progressive Bonuses|
|It allows you to top up your premiums to purchase additional Sum Assured towards your existing policy. It also generates further bonuses.|
|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, you can choose to take the cash value by cheque
- Insurance cover up to age 100
- Option to Participate in Progressive Bonuses
- Tax benefits on premiums and maturity proceeds
- Additional protection through riders
- Bonus declared every year from 3rd policy year onwards
Download its brochure here.