Life Gain™ Endowment Plan|Plan Overview|Features|Key Benefits|Riders

Plan Overview:
You have many opinion and dreams for your family and yourself. You want to purchase a house once you retire, you wish to send your children to the best schools that money can present, you want to get them married and settled, you want to go out on a long relaxed vacation with your spouse, and many more. Endowment plans allow you to accumulate your savings for these requirements and ensure that the money is available to take care of them.
Max New York Life, 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 unexpected 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 announce bonuses, from time to time, from the third policy year and these will be paid out, based on your choice of bonus options.

Features:
Criteria Eligibility
Entry age 91 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 Age 75 Years

Minimum Sum Assured Rs. 50,000
Maximum Sum Assured No 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 Offsets
• 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.

Key Benefits:
• Guaranteed Financial Protection
• Tax benefits on premiums and maturity proceeds
• Additional protection through 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 diagnosis 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 Annual, 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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Tags: Endowment Plan, Insurance, Max New York Life