Max New York Life SMART Invest Pension Super

Retirement can be the best phase in your life, with all the time in the world to live all your dreams. Which you always wanted to do but couldn’t due to lack of time and your busy schedule. Today, individuals have realized the need to provide for themselves during their retirement years. It’s very important to invest early so that you can watch your investments therefore grow and multiply every year, which would give you the added advantage in the future. You need a retirement plan through which you would continue to earn a satisfying income and enjoy a comfortable lifestyle post retirement.

Offering competitive returns to secure the golden years of your life, Max New York Life’s SMART Invest™ Pension Super is a comprehensive unit linked pension plan to meet your post retirement financial needs. One-third of the corpus can be commuted at vesting age the amount commuted is eligible for tax exemption u/s 10A.

Eligibility Criteria
CriteriaEligibility
Entry Age18 – 60 years
Premium Payment OptionsLevel Premium:
Regular, Limited Premium Payment, Single PremiumIncreasing Premium @5% p.a.:
Regular Pay
Vesting Age50 – 70 years
Policy Term11-52 years(Regular pay option) 10 years (Single and Limited pay)
Minimum ATPRegular Pay:
Term 11-14:   Rs.30,000
Term 15 and greater:  Rs.15,000Limited Premium Payment Term(5):
Rs.50, 000Single Premium:
Rs. 1,00,000
Maximum PremiumNo Limit

With Increasing Premium option your premium increases with 5% of your original base premium being added each year to your premium amount. This ensures a disciplined manner of saving over the years. The total amount of fund value under this option is much higher than that with level premium option. After all, you will earn more with time and your needs too shall increase. So why not invest accordingly as well?

  • Holistic Retirement Solution: Availability of Dread Disease Rider and Personal Accident Benefit Rider make it a complete retirement solution that ensures that the retirement fund does not have to suffer in case of any unfortunate event.
  • No allocation charge from the first year:Make the maximum of your investments
  • Guaranteed Additions to your Fund: As you near your chosen age to retire, we add to your existing fund value through our guaranteed additions. This boosts your fund just when you require it. It is a gift from us to you, as you begin your golden years.
  • Partial Withdrawals: Life does not always go according to plan and you should have an equally bright and carefree today as you would have a golden retirement
  • Choice is yours:
    • You decide the premium paying option: Whether Level or Increasing
    • You choose the vesting age
    • You decide the premium payment term as per your convenience
    • You can choose a top-up as and when you choose to
  • Tax benefit:
    • Your premiums are eligible for deduction U/S 80CCC up to Rs. 1,00,000/-every year
    • 1/3 rd of the corpus on maturity can be commuted and is eligible for tax exemption U/S10A

Select any one or all of the mentioned funds



Investment TypeSecure FundConservative FundBalanced fundGrowth FundGrowth super Fund
Government Securities50-100%50 – 80%20 – 50%0 – 30%0-20%
Corporate Bonds (investment grade)0-50%0 – 50%20 – 40%0 – 30%0-20%
Money Market Instruments / Cash0-40%0 – 40%0 – 40%0 – 40%0-40%
EquitiesNIL0 – 15%10 – 40%20 – 70%70-100%
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

 

Download its brochure here.






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