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Life Insurance |
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Life insurance is insurance on the life of human beings. Though value of the Human Life cannot be quantified, however, a monetary sum can be arrived at basis the loss of income of an earning member of a family in the future years. As a primary earning member, by opting for a life insurance product based on your needs and financial goals, you must ensure the financial security and peace of mind of your family at all times. |
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All Policies underwritten by MNYL |
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| Max New York Life Guaranteed Monthly Income Plan – 11 year policy term |
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| Overview |
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(A Non-Linked, Non-Participating Insurance Plan)
(UIN: 104N068V01)
Future needs to be planned. Planning for future requires planning for future income. To be able to guarantee future income is to guarantee your child’s education, your retirement or any other financial goal that you have set. For complete peace of mind this income should be guaranteed and not subject to swings of markets. But how do you go about securing such an income?
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read more... |
Amsure in association with Max New York Life brings to you a solution that takes care of all your worries. The Guaranteed Monthly Income plan not just ensures safety of your investments but also ensures that your savings are cushioned against inflation. Additionally, it ensures that the lifestyle of your family is protected against any exigencies.
You choose a monthly income. We guarantee the income no matter what.
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| Max New York Life Guaranteed Monthly Income Plan – 11 year policy term |
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| Overview |
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(A Non-Linked, Non-Participating Insurance Plan)
(UIN: 104N068V01)
Future needs to be planned. Planning for future requires planning for future income. To be able to guarantee future income is to guarantee your child’s education, your retirement or any other financial goal that you have set. For complete peace of mind this income should be guaranteed and not subject to swings of markets. But how do you go about securing such an income?
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| read more... |
Amsure in association with Max New York Life brings to you a solution that takes care of all your worries. The Guaranteed Monthly Income plan not just ensures safety of your investments but also ensures that your savings are cushioned against inflation. Additionally, it ensures that the lifestyle of your family is protected against any exigencies.
You choose a monthly income. We guarantee the income no matter what.
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| Max New York Life Guaranteed Monthly Income Plan – 11 year policy term |
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| Policy Features |
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Policy at a Glance – 11 year policy term
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Criteria
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Eligibility
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Minimum Entry Age (Last Birthday)
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25 years
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Maximum Entry Age (Last Birthday)
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60 years
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Maximum Maturity Age (Last Birthday)
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71 years
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Premium Modes
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Annual Mode only
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Policy Term / Premium Payment Term (PPT)
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11 Year Term
(Premium Term is same as Policy Term)
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Minimum Monthly Income
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(please use rupee symbol) 2,000 p.a. and thereafter in
multiples of (please use rupee symbol) 500
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Maximum Monthly Income
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No Limit – based on underwriting on case to case basis
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Sum assured
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240 times monthly income
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Monthly Income Boosters (MIB):
From Policy Year 2 onwards, upon receipt of each due premium, the policy will accrue MIB till the end of policy term. For the purpose of applying MIB rates for renewal premiums received on policies, all the premiums received within a particular month will be applied a MIB Rate corresponding to FIMMDA 5-Year Government Security Benchmark Rate as on the last working day (end of day) of the previous month.
MIB Rates will vary with Benchmark interest rate as per the table mentioned below:
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FIMMDA 5-Year G-Sec
Benchmark Rate
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Monthly Income
Booster Rate - 11 Pay
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< 4.0 %
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0.0%
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4.0 % to < 4.5 %
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5%
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4.5 % to < 5.0 %
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10%
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5.0 % to < 5.5 %
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15%
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5.5 % to < 6.0 %
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21%
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6.0 % to < 6.5 %
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27%
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6.5 % to < 7.0 %
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33%
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7.0 % to < 7.5 %
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39%
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7.5 % to < 8.0 %
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46%
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8.0 % to < 8.5 %
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53%
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8.5 % to < 9.0 %
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60%
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9.0 % to < 9.5 %
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68%
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9.5 % to < 10.0 %
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76%
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10.0 % to < 10.5 %
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84%
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10.5 % to < 11.0 %
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92%
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11.0 % to < 11.5 %
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101%
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11.5 % to < 12.0 %
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111%
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12.0 % to < 12.5 %
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120%
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12.5 % to < 13.0 %
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130%
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>= 13.0 %
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141%
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Survival Benefits (Payable during the Payout Period of 10 years after the completion of Policy Term):
For 11 Year policy term: The MIB accrued in year 2 will be payable along with guaranteed monthly income of year 12 only (starting from payout date in the 133rd month till payout date of 144th month) and MIB accrued in year 3 will be paid out with guaranteed monthly income in year 13 only (starting from payout date in the 145th month till payout date of 156th month) and so on and so forth.
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Payout Year
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Value
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Year 12 to Year 21
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Guaranteed Monthly Income along with MIB from the payout date of 133rd month
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Guaranteed Terminal Benefit:
For the 11 year policy term, 200% of annual premium will be paid along with last guaranteed monthly income payment.
Death Benefit
Death event before end of Policy Term
> All premiums paid by the policyholder prior to date of death are imediately paid back to the Nominee.
> The Nominee will receive Guaranteed Monthly Income (“GMI”) payable at payout date of every month from the Policy Anniversary following the date of intimation of death till the end of Policy Term.
> The Nominee will receive GMI along with MIB as and when due during the Payout Period due to funding of premium.
> Guaranteed Terminal Benefit at the end of Payout Period.
Death event After Policy Term (Payout Period)
> Guaranteed Monthly Income along with MIB will be paid as and when due for the outstanding Payout Period.
> Guaranteed Terminal Benefit at the end of Payout Period.
Surrender Benefit:
The policy acquires a Guaranteed Surrender Value (GSV) from the end of third policy year after three annual premiums have been paid. The GSV is 30% of all premiums paid excluding the first year premium.
In practice, a Special Surrender Value (SSV) will be paid to the policyholder, which will always be higher than the GSV. The SSV can be changed by the Company (but will never be below GSV) basis changing investment returns and/or market values of underlying assets.
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Lapse and Revival
In the first 3 policy years, upon non-receipt of the due premium before the expiry of the grace period, the policy will lapse and no benefits are payable. A lapsed policy can be revived within a revival period of 6 months from the due date of unpaid premium provided:
> Policyholder pays all overdue premiums with interest at a rate determined by the Company from time to time.
> The revival of the Policy shall take effect only after revival of the Policy is approved by the MNYL and communicated to the policyholder in writing. If a lapsed Policy is not revived within 6 months, the Policy shall be terminated and no value is payable to the policyholder. A policy will not lapse but will become reduced paid up once the policy has acquired a surrender value after the completion of 3 policy years.
Revival of a Reduced Paid Up Policy:
A reduced paid up policy can be revived at the Company’s sole discretion within a revival period of 6 months from the due date of the unpaid premium provided:
> Policyholder pays all overdue premiums with interest at a rate determined by the Company from time to time.
> The revival of the Policy shall take effect only after revival of the Policy is approved by MNYL and communicated to the policyholder in writing. If a reduced paid up policy is not revived within 6 months of it becoming reduced paid up, then the Policy cannot be revived and will continue as reduced paid up for the rest of its policy term.
Disclaimers:
Max New York Life Insurance Co. Ltd. is a joint venture between Max India Ltd. and New York Life Enterprises, LLC.
Max New York Life Insurance Co. Ltd.11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002 (Haryana). For more details on the risk factors, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain tax benefits on your premiums and benefits. Tax benefits are subject to change in tax laws. Insurance is the subject matter of solicitation. For further details, call Toll free number 1800 200 4006
This life insurance product is offered by Max New York Life Insurance Ltd. Life Insurance coverage is available in this product.
Amsure Insurance Agency Ltd. is the Corporate Agent of Max New York Life Insurance Co. ltd. Registered Office: Amsure Insurance Agency Ltd. Plot No. 5, DDA Local Shopping Centre, Okhla Commercial Complex, Phase II, New Delhi – 110 020.
ARN Number: Amsure/Website/GMIP/01
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| Max New York Life Guaranteed Monthly Income Plan – 11 year policy term |
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| Key Benefits |
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Guaranteed Monthly Income (“GMI”) for a Payout Period of 10 years after your policy term.
The plan lets you choose the guaranteed monthly income you desire. This income is guaranteed to be paid for a period of 10 years (120 months) from the end of policy term, payable at payout dates*.
Monthly Income Boosters (“MIB”) 12th year onwards.
Over and above the guaranteed monthly income, the plan also offers MIB starting year 12, payable at payout dates. This ensures that your chosen monthly income is cushioned against inflation.
Guaranteed Terminal Benefit (“GTB”)
Along with the GMI and MIB, 200% of annual premium will be paid out along with the last Guaranteed Monthly Income payout.
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Complete Safety of your investments and transparency of returns
The investments will be made only in highly secure investments ensuring minimal risk and low volatility. A single MIB rate is applied to renewal premiums received on all policies within a particular month. The MIB rate will be determined using the prevailing 5-year Government-Security rate as on the last working day (end of day) of the previous month, obtained from Fixed Income Money Market and Derivatives Association of India (FIMMDA).
Comprehensive Insurance cover
To ensure all your dreams are fulfilled even in case of an exigency.
*Note: In practice all the monthly payout transactions would be effected on selected payout dates, once per week or four times in a month. The payouts will happen, every month, on the next closest payout date following the monthly anniversary.
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| Max New York Life Gain plus (Participating Plan) |
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| Overview |
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Life Gain™ plus 20 participating plan provides you with an insurance cover that is guaranteed for 20 years down the line. It builds cash value, which you can use during your lifetime to fund any unforeseen needs either by surrendering accumulated PUAs or taking a loan.
You can enjoy the full benefits of an endowment plan with life insurance that requires you to pay premiums only over a very limited period, while you get cover for the entire tenure! Also, your money grows quickly, resulting in a substantial lump sum on maturity.
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read more... |
In case of unfortunate death, this plan also provides sum assured plus additional insurance coverage purchased from bonuses for first 5 years and then doubles the same afterwards.
You can also customize your policy to meet your specific needs. We offer you the flexibility to enhance the value of your policy by using various rider options available. In addition, you are also eligible for bonuses and terminal illness benefits, where you can use 50% of your sum assured at the time of your treatment and the balance of the sum assured will be payable to your family on the occurrence of the insured event.
"For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale".
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| Max New York Life Gain plus (Participating Plan) |
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| Overview |
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Life Gain™ plus 20 participating plan provides you with an insurance cover that is guaranteed for 20 years down the line. It builds cash value, which you can use during your lifetime to fund any unforeseen needs either by surrendering accumulated PUAs or taking a loan.
You can enjoy the full benefits of an endowment plan with life insurance that requires you to pay premiums only over a very limited period, while you get cover for the entire tenure! Also, your money grows quickly, resulting in a substantial lump sum on maturity.
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| read more... |
In case of unfortunate death, this plan also provides sum assured plus additional insurance coverage purchased from bonuses for first 5 years and then doubles the same afterwards.
You can also customize your policy to meet your specific needs. We offer you the flexibility to enhance the value of your policy by using various rider options available. In addition, you are also eligible for bonuses and terminal illness benefits, where you can use 50% of your sum assured at the time of your treatment and the balance of the sum assured will be payable to your family on the occurrence of the insured event.
"For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale".
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| Max New York Life Gain plus (Participating Plan) |
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| Policy Features |
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Life can be a holiday! With Life Gain Plus, you can leave it to us to take care of your Child’s education or marriage.
- Guaranteed Maturity Benefit – 110% of Sum Assured
- Guaranteed Death Benefit – 200% of Sum Assured, 5th policy anniversary onwards
- Flexible Bonus Option
- Limited Premium Payment
- Choose from 20 or 25 years term
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| read more... |
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Criteria
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Eligibility
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| Entry age |
18 years to 55 years |
| Maturity age |
75 years |
| Premium Payment Term |
6 / 10 years |
| Minimum Sum Assured |
Rs. 50,000 |
| Maximum Sum Assured |
No limits, subject to underwriting |
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| Max New York Life Gain plus (Participating Plan) |
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| Key Benefits |
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Living Benefit
- Sum Assured plus accrued bonus plus Guaranteed Additions @ 10% of Sum Assured
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| read more... |
Death Benefit
- In the first five years - Sum Assured plus additional insurance coverage purchased from bonuses
- After five years - Double the Sum Assured plus additional insurance coverage purchased from bonuses
Bonus Options
- Paid in Cash
- Premium Offset
- Paid up Additions
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| Max New York Life Lifeline Safety Net |
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| Overview |
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Just as life, it is important to insure one's health to live a peaceful life. Ironically, it is a well-known fact that lot of individuals are either uninsured or not insured at all. In spite of the rapid advancement of medical science, the expenses attached to various treatments are quite high.
Everybody definitely needs health insurance coverage because illnesses if contracted can seriously impact finances and devour precious savings due to the absence of a good health cover. Therefore, it's important to get your health insured at the earliest and enjoy a hassle-free life.
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read more... |
There is a vast variety of affordable health insurance plans in the market. However, it's up to you to choose the best possible health cover, which would suit your budget. Recognizing the need for a complete all round financial protection for you and your family, Max New York Life Insurance Company offers you a term cum health insurance - LifeLine-Safety Net™ , the new age insurance covering death, disability, disease and accident under one single plan.
For more information on LifeLine Safety NetTMPlus, please click here and provide your contact details. Our Amsure Insurance Planner will contact you soon to provide more information on this product.
"For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale". The need for a complete all round financial protection for you and your family, Max New York Life Insurance Company offers you a term cum health insurance - LifeLine-Safety Net™ , the new age insurance covering death, disability, disease and accident under one single plan.
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| Max New York Life Lifeline Safety Net |
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| Overview |
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Just as life, it is important to insure one's health to live a peaceful life. Ironically, it is a well-known fact that lot of individuals are either uninsured or not insured at all. In spite of the rapid advancement of medical science, the expenses attached to various treatments are quite high.
Everybody definitely needs health insurance coverage because illnesses if contracted can seriously impact finances and devour precious savings due to the absence of a good health cover. Therefore, it's important to get your health insured at the earliest and enjoy a hassle-free life.
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| read more... |
There is a vast variety of affordable health insurance plans in the market. However, it's up to you to choose the best possible health cover, which would suit your budget. Recognizing the need for a complete all round financial protection for you and your family, Max New York Life Insurance Company offers you a term cum health insurance - LifeLine-Safety Net™ , the new age insurance covering death, disability, disease and accident under one single plan.
For more information on LifeLine Safety NetTMPlus, please click here and provide your contact details. Our Amsure Insurance Planner will contact you soon to provide more information on this product.
"For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale". The need for a complete all round financial protection for you and your family, Max New York Life Insurance Company offers you a term cum health insurance - LifeLine-Safety Net™ , the new age insurance covering death, disability, disease and accident under one single plan.
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| Max New York Life Lifeline Safety Net |
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| Policy Features |
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Comprehensive Insurance plan giving financial protection from:
- Death
- Critical Illness
- Total and Permanent Disability
- Accidental Death Benefit
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| read more... |
- 5 Years Premium Guarantee
- High Coverage Tenure (Up to 30 Years)
- Tax Benefit under section 80C
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Criteria
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Eligibility
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| Minimum/ Maximum Age At entry |
18 years to 60 years |
| Policy Term |
10, 15, 20, 25 or 30 years |
| Maximum Cover Ceasing Age |
75 years |
| Minimum Sum Assured |
Rs.20,000 |
| Maximum Sum Assured |
Rs. 40,00,000 |
| Premium Guarantee |
5 Years Premium is renewed every 5 years through the term of your plan |
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| Max New York Life Lifeline Safety Net |
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| Key Benefits |
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Death Benefit
In case of unfortunate event of the death of the life insured, the company shall pay the sum assured as specified in the schedule of the policy subject to deduction of Critical illness benefit if paid any.
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| read more... |
Critical Illness Benefit
- On the diagnosis of any of the critical illnesses (Cancer, Coma, Kidney Failure, Multiple Sclerosis, Heart Attack, Paralysis / Paraplegia and Stroke) or
- On the actual undergoing of the surgery of Major organ transplant, Coronary artery , bypass surgery , Heart valve surgery, the company shall advance 50 % of the sum assured as specified in the schedule of the policy document, subject to the survival of the life insured for at least 28 (Twenty Eight ) days after the happening of the such insured event
As this is an accelerated benefit, availing this will reduce the death benefit to be paid on death of Life Insured by 50%.
Total and Permanent Disability Benefit
During the Policy term if the life insured meets with an accident which results in total and permanent disability within 180 days of the accident, the company shall pay an additional benefit of 50 % of the sum assured. This is an additional benefit over and above of other benefits.
If the life insured is engaged in any of the occupation which require to spend significant time being exposed to the risk factors associated with the type of occupation/ industry, the cover in respect of total and permanent disability shall immediately cease to apply irrespective of the fact whether
- the life insured informed the company of the change in his occupation or industry or
- a total and permanent disability was not caused as a result of such exposure to risk factors associated with the type of occupation/ industry where the life insured was working.
Accidental Death Benefit
If the life insured dies due to an accident, the Company shall pay an additional benefit equal to 100% of the sum assured as specified in the schedule.
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| Max New York Life Lifeline Safety Net |
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| Leaflet |
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| Max Amsure Bonus Builder New |
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| Overview |
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| As a good planner, you need to look ahead and plan accordingly for your family’s future. As you work hard to ensure that your family is financially secured, you need a plan, which would provide you the helping hand and the desired financial support at times of unavoidable crisis in the future.
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read more... |
Max Amsure Bonus Builder Policy provides an insurance cover that is guaranteed for your entire life. This policy will always help you in fulfilling unforeseen, urgent needs through its various riders. Your premiums are eligible for deduction u/s 80C every year and your claim amount (from death) is eligible for tax exemption u/s 10(10D). In addition this policy is also eligible for bonuses.
"For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale".
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| Max Amsure Bonus Builder New |
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| Overview |
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| As a good planner, you need to look ahead and plan accordingly for your family’s future. As you work hard to ensure that your family is financially secured, you need a plan, which would provide you the helping hand and the desired financial support at times of unavoidable crisis in the future.
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| read more... |
Max Amsure Bonus Builder Policy provides an insurance cover that is guaranteed for your entire life. This policy will always help you in fulfilling unforeseen, urgent needs through its various riders. Your premiums are eligible for deduction u/s 80C every year and your claim amount (from death) is eligible for tax exemption u/s 10(10D). In addition this policy is also eligible for bonuses.
"For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale".
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| Max Amsure Bonus Builder New |
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| Policy Features |
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Criteria
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Eligibility
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| Entry Age |
18 - 50 years |
| Max Maturity Age |
100 years |
| Policy Term |
To age 100 |
| Premium Paying Term |
Higher of 20 years or age 60 |
| Minimum Sum Assured |
Rs. 50, 000 |
| Maximum Sum Assured |
No Limit (subject to underwriting) |
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| read more... |
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| Max Amsure Bonus Builder New |
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| Key Benefits |
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- At Maturity (attaining age 100): Sum Assured plus accrued bonuses
- Money back benefit 5% of SA every year from Age 61 to 80
- On death of life insured: Sum Assured plus accrued bonus
- Terminal Illness Benefit: Pays 50% of Sum Assured (subject to maximum of Rs. 5,00,000/-) to you in case you are diagnosed to be suffering from a terminal illness that can lead to death in 6 months
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| read more... |
Tax Benefit:
- Your premiums are eligible for deduction u/s 80C every year
- Your claim amount (from death) is eligible for tax exemption u/s 10(10D)
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| Max Amsure Bonus Builder New |
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| Leaflet |
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| Registered Name of MNYL is Max New York Life Insurance Co. Limited. |
| Corporate office Address of MNYL is Max New York Life Insurance Company Limited, 11th Floor, Jacaranda Marg, DLF Square, DLF City, Gurgaon Phase - 2, Haryana - 122002. |
| Insurance is the subject matter of solicitation. |
| For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. |
| AmSure Insurance Agency Limited is a corporate agent of Max New York Life Insurance Company Limited. |
| ARN.No. AmSure/Insurance/Web/02. ; Corporate Agent License Number. 2129452 |
| Toll-free No. of MNYL for AmSure Customers: 1800-180-1288. |
| Registered Address of AmSure Insurance Agency Ltd. is 1st Floor, Elegance Tower, Plot No. 8, Non Hierarchical Commercial Centre, Jasola, New Delhi - 110025 |
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