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Insurance policy is a contract of protection/compensation by the insurer to the insured. It is designed to reimburse or compensate the insured party for the financial loss caused in event of death or damage to merchandise as mentioned in the insurance contract.

Broadly insurance can be classified in two categories:
First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types:
Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans.
Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance
Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan .
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Home > Life Insurance > Life Insurance Companies > Max New York Life Insurance > Life Maker

Max New York Life- Life Maker

Life Maker is a twin benefit policy where you get an investment and a life insurance plan. This plan helps you to channel your funds in various unit linked funds. You get a choice to invest in more than one of these funds. It is a good investment tool as it gives financial security in the future.

Benefits :
1. It gives you a wide range of funds to choose from, like secure fund, conservative fund, balanced fund, growth fund and growth super fund.
2. The plan has an option where you can choose the premium payment term which is either regular or limited pay.
3. It also offers riders to add more protection to your insurance cover.
4. You can keep investing large amounts in the policy during the policy term through the top-up option.
5. Loyalty Units are added to your policy free of charge.
6. You get the applicable tax benefit for your premium amount and the maturity value.

Eligibility :
Age at entry : 91 days to 65 years
Maximum Age at maturity : 75 years.
Minimum Sum Assured : Rs100, 000
Disclaimer: Please note that the information provided is collected from sources publicly available & we believe to be reliable. The website doesn’t warrant the accuracy, reliability & absolute information available on the website. Participation by site visitors or registered customers is on a voluntary basis. The policies are offered by various life Insurance & non-life insurance offering companies and Bimadeals does not seek to, either directly or indirectly, advise, offer, solicit or recommend that any person who is or proposes to become its member should purchase the Policy.
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