Smart assure is yet another insurance policy from Max New York Life. This is a unit linked insurance policy that is destined to offer higher returns on investments. The plan has been planned in such a mode that it offers long term making of wealth as well as security to the policy holder.
Features
This plan offers choice to its customers in which the complete premium could be allocated that is paid over the arranged premium slab. In this case the allocation charges are reduced with the increase in premium amount. In this case, the allocation charges are nil if the policy amount is above 3, 00,000. Because of this feature the value suggestion of the plan is strengthened, which encourages the people to choose for higher investment plans in order to get higher returns.
In smart assure plan, Persistency Units are allocated to the Fund Value of customers at the time of maturity. In this case the Persistency Units are equivalent to a convinced percentage of fund value at the time of maturity that slowly increases with the term of the policy. In this way it offers long term savings to its customers.
The plan also features the Increasing premium opportunity in which the yearly premium is increased by 5(%) percent. In that case the sum assured is also increased by 5(%) percent without extra underwriting. Because of this feature, the future value of money is taken into thought thereby allowing the people to get larger fund value.
The insurance plan also offers wide reporting as well as active fund allocation. In the first case, the insurance policy is suitable for the people of all ages. The plan is extremely flexible and this feature allows people to decide from any policy term between 10 to 30 years. Dynamic Fund Allocation on the other hand strikes the right balance between return and risk. At the early period the fund is more horizontal to risk but the as the days passes, the nature of allocation soon changes to a more secure mode as the policy approaches towards maturity.
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