SMART Steps Plus | Max New York Life Insurance

The SMART Steps plus of Max New York Life Insurance is a different plan to secure the future of the child with higher education, marriage and financial security. This insurance plan ensures that the child receives the best of education and desired financial support at the time of need. It ensures that money is available at the most critical junctures of child’s life.

The chief features of SMART Steps plus are:

• This policy is available under the life insured policy of the parents.

• The age of the life insured is to be inside 21 years to 50 years.

• The age of the child required is 91 days to 15 years.

• The maximum maturity age of the life insured is 60 years.

• The policy term is to be minimum 10 years and maximum 25 years. The policy term should be in such mode that the child’s age remains within 16 to 25 years.

• The premium bands of the policy are:

Band 1: Rs. 20,000 – Rs. 49,999
Band 2: Rs. 50,000 – Rs. 149,999
Band 3: Rs. 150,000 – Rs. 299,999
Band 4: Rs. 300,000 – Rs. 499,999
Band 5: Rs. 500,000 and above

• The term of the premium of SAMRT Step Plus is equivalent to that of the policy term.

• As for the maturity benefit the company will pay the fund value for the child’s benefit. If the customer does not want the happening on the maturity he/she can choose to defer the payment of the proceedings.

• If the life insured person die unexpectedly 100% of the sum assured will be paid to the child. The company will continue to function the unit account after the death of life insured till the date of the maturity.

• The company will bear to pay all the ATPs according to the fund allocation selected by the policy holder.

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Tags: Child Plan, insurance policy, Max New York Life