Life Pay^TM Money Back

Benefits:

• Guaranteed financial protection
• Money back at regular intervals
• Additional protection through riders
• BonusDividends paid to shareholders from funds created out of additional profits realised by the company. declared every year after the 3^rd policy year

Key Features

BonusDividends paid to shareholders from funds created out of additional profits realised by the company. Options:

From third policy year onwards, you may be eligible for bonusDividends paid to shareholders from funds created out of additional profits realised by the company. and these will be paid out, based on your choice of bonusDividends paid to shareholders from funds created out of additional profits realised by the company. options:

• Cash BonusDividends paid to shareholders from funds created out of additional profits realised by the company., where you can take the bonusDividends paid to shareholders from funds created out of additional profits realised by the company. in cash
• PremiumA regular payment made to the insurance company to keep the policy in force. Offset, where you can use the bonusDividends paid to shareholders from funds created out of additional profits realised by the company. to pay a part of your premiumA regular payment made to the insurance company to keep the policy in force.
• Paid Up Additions, where you can use the bonusDividends paid to shareholders from funds created out of additional profits realised by the company. to permanently increase the Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured..

However, bonuses are not guaranteed and will be declared by the Company from time to time.

Death Benefit:

Death after age 10 : Sum assured plus sum assured of paid up additions (without deduction of any money back installments, if alreay paid)

Death before age 10 : Refund of premiumA regular payment made to the insurance company to keep the policy in force. with interest subject to a maximum of SA

Living Benefits:

Non-forfeitureIt allows for the insured to receive all or a portion of the benefits or a partial refund on the premiums paid if the insured misses premium payments, causing the policy to lapse.  Options:

In case you are unable to pay your premiums, your policy will lapse and we will utilise the cash valueThe equity amount or \'saving\' accumulation in a whole life policy. to buy you insurance coverage in one of the following ways:

• Reduced Paid-Up: A reduced paid up insurance is the amount of paid-up insurance, which can be purchased by utilising the Surrender Value which is lower than the Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured.. This reduced paid-up insurance will acquire cash valueThe equity amount or \'saving\' accumulation in a whole life policy.. Such paid up policy is not entitled to any bonusDividends paid to shareholders from funds created out of additional profits realised by the company..
• Extended Term Insurance: The Surrender Value will be used as a single premiumA regular payment made to the insurance company to keep the policy in force. to buy Term Insurance equal to the current Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured. of this Policy for a term the Surrender Value can purchase. Such ETI is not eligible for bonusDividends paid to shareholders from funds created out of additional profits realised by the company. or cash valueThe equity amount or \'saving\' accumulation in a whole life policy.. The maximum term for this ETI cannot exceed the remaining term of this Policy. Should the Surrender Value be sufficient to buy a single premiumA regular payment made to the insurance company to keep the policy in force. Term Insurance for a term longer than the remaining term of this Policy then such excess amount will be paid in cash to the Policy Holder?

Tax Benefit:

You may be entitled to certain tax benefits on your premiums and benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of PremiumA regular payment made to the insurance company to keep the policy in force. or receipt of benefits by you.

RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. Options:

Additional protection is given with 6 riderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. options available to attach to your policy.

Example:

A healthy 35-year-old male buys Max New York Life's Life Pay Money Back Plan for Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured. of Rs 4 Lakh with an annual premiumA regular payment made to the insurance company to keep the policy in force. of Rs 28,168 for 20 years.

Kindly note: The above stated is only an illustration and does not in any way create any rights and / or obligations. The actual experience on the contract may be different from illustrated. The non-guaranteed low and high rates mentioned above relate to assumed investment returns at different rates and may vary depending upon market conditions. The premiumA regular payment made to the insurance company to keep the policy in force. mentioned is exclusive of service tax charges.

A RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. is an attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. Max New York Life Life Pay Money Back Plan offers the riders below to customize your plan as per your needs:

Dread Disease RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. : (UIN: 104C010V02)

Dread Disease Rider Rates

Personal Accidental Benefit RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. : (UIN: 104C007V02)

Personal Accidental Benefit Rider Rates

Term RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. : (UIN: 104B019V01)

Term Rider Rates

Waiver of PremiumA regular payment made to the insurance company to keep the policy in force. (WOP) RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. : (UIN: 104B018V01)

Waiver of Premium (WOP) Rider Rates

Term Renewable and Convertible RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. : (UIN: 104B012V01)

Term Renewable and Convertible Rider Rates

Payor RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. : (UIN: 104B013V02)

Payor Rider Rates