Whole Life (Par)

Benefits:

• Protection for life with a guarantee of basic amount insured
• 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. after 3 years’ premiums have been paid
• BonusDividends paid to shareholders from funds created out of additional profits realised by the company. declared every year after 3 policy years
• Insurance cover up to age 100
• Option for additional protection through riders
• Guaranteed fixed premiumA regular payment made to the insurance company to keep the policy in force. throughout life, which allows you to plan your finances better

Key Features:

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.:

The accumulated 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. can be accessed to meet an unforeseen need even while the policy is in existence. It is paid after the policy has been inforce for atleast three years and provided all the premiums have been paid for three years. 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. granted is 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, but never more than base sum assuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured. of the policy.

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

The plan entitles you to get bonuses with a choice of three options on how you would want it paid to you:

• Cash bonuses: The bonuses will be paid to the Policyholder in cash.
• PremiumA regular payment made to the insurance company to keep the policy in force. offset: BonusDividends paid to shareholders from funds created out of additional profits realised by the company. may be used to offset the premiumA regular payment made to the insurance company to keep the policy in force. due.
• Purchase Paid Up Additions: The Bonuses may be used to buy paid-up additions.

Note that bonuses are not guaranteed and will be subject to declaration by the Company from time to time.

Option to participate in progressive bonuses:

It lets you purchase additional benefits in the form of bonuses that will be paid on maturity of the base policy or in the unfortunate event of death of the Life Insured. Additionally, you can continue to invest more funds without providing an evidence of insurabilityAll conditions that affect an individual’s health, susceptibility to injury and life expectancy; an individual\'s risk profile..

Facility of a loan:

Once the policy has acquired a 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., you will be eligible for a loan in accordance with the terms and conditions present.

Maturity benefit:

Upon maturity, 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 bonuses, (if any), is payable.

Death benefit:

• On death of Life Insured upon attaining ten (10) years of age, 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 Sum AssuredThe sum assured is the minimum amount payable to the assured or his/her dependants on the death of the life assured. of paid-up additions, if any, is payable
• On death of the Life Insured before attaining ten (10) years of age, we will refund all the premiums received by us together with interest at the rate of four (4) percent per annum, compoundedThe value of an investment increases exponentially over time due to compound interest on being compounded. annually, subject to maximum of Sum Insured.

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.  Benefits:

If the policy has Surrender Value, you may surrender your policy for cash or exercise any one of the following 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 Insurance: A reduced paid up insurance is the amount of paid-up insurance, which can be purchased by utilizing the Surrender Value. This reduced paid-up insurance may 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 to buy a single premiumA regular payment made to the insurance company to keep the policy in force. 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.

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 seven (7) 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.

Tax Benefits

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.

Free Look Period:

An option to cancel the Policy within 15 days of receipt is given in case of dissatisfaction.

Example:

Mr. Singh is 30 years old and takes a Max new York Life Whole Life Par plan for a 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. 10,00,000 which would be with him through out his life’s various milestones. He pays an annual premiumA regular payment made to the insurance company to keep the policy in force. of Rs. 21,590 for his whole life plan.

Kindly note: The above 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.

Calculation of modal premiumA regular payment made to the insurance company to keep the policy in force.s for the various premiumA regular payment made to the insurance company to keep the policy in force. modes -

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 Whole Life Participating Plan offers the riders below 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: 104B006V01)

Waiver of Premium (WOP) Rider Rates

Guaranteed InsurabilityAll conditions that affect an individual’s health, susceptibility to injury and life expectancy; an individual\'s risk profile. Option (GIO) RiderAn attachment to a policy that modifies its conditions by expanding or restricting benefits or excluding certain conditions from coverage.: (UIN: 104B009V01)

Guaranteed Insurability Option (GIO) Rider Rates

Five-Year 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)

Five-Year 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

Option to Participate in Progressive BonusDividends paid to shareholders from funds created out of additional profits realised by the company. (OPPB)