Endowment To Age 60 (Par)

Benefits:

• Guaranteed financial protection
• Maturity benefits payable after 60^th birthday of Life AssuredThe person covered by a life insurance policy. The insurance company pays out on the death of the policyholder.
• Additional protection through riders
• BonusDividends paid to shareholders from funds created out of additional profits realised by the company. declared every year from 3^rd policy year onwards

Key Features:

Cash ValueThe equity amount or \'saving\' accumulation in a whole life policy.:

If your policy continues for at least 3 years and all premiumA regular payment made to the insurance company to keep the policy in force.s have been received by us, then you are eligible for non-guaranteed cash valueThe equity amount or \'saving\' accumulation in a whole life policy. equal to and not less than 30% of the premiumA regular payment made to the insurance company to keep the policy in force.(s) (excluding the first year’s premiumA regular payment made to the insurance company to keep the policy in force.) received.

Surrender Value:

After the policy has acquired cash valueThe equity amount or \'saving\' accumulation in a whole life policy., you may opt to surrender the policy. The surrender value payable will be equal to cash valueThe equity amount or \'saving\' accumulation in a whole life policy. minus any loan including interest accrued to date of surrender.

Facility of a loan:

Once the policy has acquired a cash valueThe equity amount or \'saving\' accumulation in a whole life policy., you will be eligible for a loan so that you can fulfill any unforeseen need conveniently.

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:

• 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 Cash Surrender ValueSum of money paid to the policyholder in the event his or her policy is voluntarily terminated before its maturity or the insured event occurs. (if any) 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. 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 returned to the Policy Holder.

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.

Maturity benefit:

When you turn 60, we will pay you an amount equal to Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured. along with accrued bonusDividends paid to shareholders from funds created out of additional profits realised by the company. (if any).

Death benefit:

In case of the unfortunate event of Life AssuredThe person covered by a life insurance policy. The insurance company pays out on the death of the policyholder.’s death during the tenure of the policy, the Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured. with accrued bonusDividends paid to shareholders from funds created out of additional profits realised by the company. (if any) will be paid to the beneficiaryA person(s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured..

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 and are subject to change in tax laws.

Multiple riderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. options:

Additional protection can be availed with 6 riderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage. options to help customise policy as per your needs. These riders can be attached to your policy to get extra benefits.

Example:

A healthy male, age 30, buys Max New York Life Endowment to Age 60 (Par) Plan with Rs. 7 Lakh as Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured. and pays annual premiumA regular payment made to the insurance company to keep the policy in force. of Rs. 21,007 per annum.

Kindly note: The above stated is only an example 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.

PremiumA regular payment made to the insurance company to keep the policy in force. payment frequency factor –

How to Pay PremiumA regular payment made to the insurance company to keep the policy in force.

Choose the most convenient premiumA regular payment made to the insurance company to keep the policy in force. payment option - from paying online to paying at a dropbox. Check ways to pay your premiumA regular payment made to the insurance company to keep the policy in force..

Max New York Life Endowment to Age 60 Participating Plan offers following riders to customise 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

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

Five-Year Renewable and Convertible Term 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