20 year Endowment (Par) Plan | Plan Overview |Features | Key Benefits|Riders

Plan Overview:
Whether it’s your child’s wedding, their higher education, buy a home for your family, pay off a housing loan or create a fund for your retirement, Max New York Life 20 year endowment plan is always there to provide you financial bear. It is a perfect money-saver result. On its maturity at the end of 20 years, this Policy not only gives you a guaranteed sum but also any bonus it accumulates. In case of ill-timed 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 modify your policy to meet your specific requirements. We offer you the flexibility to enhance the value of your policy by using different 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 incidence of the insured event. Under this policy, you can access any cash surrender value that accumulates in the policy, in case you have any unexpected expenses during the policy term.

Features :
Criteria Eligibility
Entry age - 20 years to 50 years
Maturity age – 70 years
Minimum Sum Assured – Rs. 100,000
Maximum Sum Assured – Rs. 5 crore

Living Benefit
• Sum Assured plus accrued bonuses
Death Benefit
• Sum Assured plus accrued bonuses
Bonus Option
• Paid in Cash
• Premium Offset
• Paid up Additions
Non-Forfeiture Options
In case you are unable to pay your premiums, your policy will drop and we will use your cash value to buy you insurance coverage in one of the following ways:

Reduced Paid Up: A lower Sum Assured for the outstanding term of your policy

Extended Term Insurance: The same Sum Assured 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.

Key Benefits:
• Guaranteed Financial security
• Tax benefits on premiums and maturity earnings
• Additional protection from side to side riders
• Bonus declared every year from 3rd policy year onwards

Riders:
Age 20 – 50 Years (depending upon Term) Benefits Incase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured. Tenors Available: Pick-a-Term: Minimum 10 Years
Maximum 40 Years Expiry Age 60 Years Minimum Face Amount Rs 1 lac Maximum Face Amount
The lower of base face amount or Rs. 10 Lacs
Benefit Features
Gives an additional benefit upon analysis of any of the ten diseases viz – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, COMA, Heart Valve Replacement/Repair
Calculation of Modal Premiums for yearly, Semi Annual, Quarterly, Monthly modes for each frequency, multiply by the appropriate factor:
Annual- 1.000
Semi Annual – 0.520
Quarterly - 0.265
Monthly – 0.090

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