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Max New York Life SMART Invest™ Pension Super
UIN 104L056V01
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Retirement can be the best phase in your life, with all the time in the world to
live all your dreams. Which you always wanted to do but couldn't due to lack of
time and your busy schedule. Today, individuals have realized the need to provide
for themselves during their retirement years. It's very important to invest early
so that you can watch your investments therefore grow and multiply every year, which
would give you the added advantage in the future. You need a retirement plan through
which you would continue to earn a satisfying income and enjoy a comfortable lifestyle
post retirement.
Offering competitive returns to secure the golden years of your life, Max New York
Life's SMART Invest™ Pension Super is a comprehensive unit linked pension
plan to meet your post retirement financial needs. One-third of the corpus can be
commuted at vesting age the amount commuted is eligible for tax exemption u/s 10A.
For more information on Max New York Life Smart InvestTM Pension Super, please
click here and provide your contact details. Our Financial Advisor will
contact you soon to provide more information on this product.
"For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale".
- Holistic Retirement Solution: Availability of Dread Disease Rider and Personal
Accident Benefit Rider make it a complete retirement solution that ensures that
the retirement fund does not have to suffer in case of any unfortunate event.
- No allocation charge from the first year:Make the maximum of your investments
- Guaranteed Additions to your Fund: As you near your chosen age to retire,
we add to your existing fund value through our guaranteed additions. This boosts
your fund just when you require it. It is a gift from us to you, as you begin your
golden years.
- Partial Withdrawals: Life does not always go according to plan and you should
have an equally bright and carefree today as you would have a golden retirement
- Choice is yours:
- You decide the premium paying option: Whether Level or Increasing
- You choose the vesting age
- You decide the premium payment term as per your convenience
- You can choose a top-up as and when you choose to
- Tax benefit:
- Your premiums are eligible for deduction U/S 80CCC up to Rs. 1,00,000/-every year
- 1/3 rd of the corpus on maturity can be commuted and is eligible for tax exemption
U/S10A
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Criteria |
Eligibility |
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Entry Age
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18 - 60 years |
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Premium Payment Options
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Level Premium:
Regular, Limited Premium Payment, Single Premium
Increasing Premium @5% p.a.:
Regular Pay
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Vesting Age |
50 - 70 years |
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Policy Term
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11-52 years(Regular pay option) 10 years (Single and Limited pay)
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Minimum ATP |
Regular Pay:
Term 11-14: Rs.30,000
Term 15 and greater: Rs.15,000
Limited Premium Payment Term(5):
Rs.50, 000
Single Premium:
Rs. 1,00,000
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Maximum Premium
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No Limit |
With Increasing Premium option your premium increases with 5% of your original base
premium being added each year to your premium amount. This ensures a disciplined
manner of saving over the years. The total amount of fund value under this option
is much higher than that with level premium option. After all, you will earn more
with time and your needs too shall increase. So why not invest accordingly as well?
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Dread Disease Rider |
Personal Accident Benefit Rider |
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Age |
20 – 50 Years (depending upon Term) |
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Benefits |
Incase Insured is diagnosed with any of the below mentioned diseases, an additional
benefit will be paid to the insured. |
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Tenors Available: |
Pick-a-Term: Minimum 10 Years
Maximum 40 Years |
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Expiry Age |
60 Years |
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Minimum Face Amount |
Rs 1 lac |
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Maximum Face Amount |
The lower of base face amount or Rs. 10 Lacs
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Benefit Features |
Gives an additional benefit upon diagnosis of any of the 10 diseases – Heart Attack,
Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant,
Paralysis, Coma, Heart Valve Replacement/Repair
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Calculation of Modal Premiums for Annual, Semi Annual, Quarterly, Monthly Modes |
For each frequency, multiply by the appropriate factor:
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Annual |
1.000 |
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Semi Annual |
0.500 |
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Quarterly |
0.250 |
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Monthly |
0.083 |
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Age |
20 – 55 Years |
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Benefits |
The Personal Accident Benefit is a low cost additional benefit that is paid incase
the insured’s death or total and permanent disability is caused by an accident.
Total and Permanent Disability means accidental injuries which, within 180 days
from the happening of such accident and independently of all other causes, results
in:
- irrecoverable loss of entire sight in both eyes; or
- amputation or loss of use, of both hands at or above the wrist; or
- amputation or loss of use, of both feet at or above the ankles; or
- amputation or loss of use, of one hand at or above the wrist and one foot at or
above the ankle, such that the life insured becomes incapable of engaging in any
gainful activity or carrying out any work, occupation, or profession to earn or
obtain any wages, compensation, remuneration or profit.
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Expiry Age |
60 Years |
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Minimum Face Amount |
Rs 1 lac
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Maximum Face Amount |
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Age upto 40 |
Rs. 10 Lac |
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Age above 40 |
Rs. 5 Lac |
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Benefit Features |
Includes benefit incase of accidental death or permanent and total disability
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Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes |
For traditional policies, multiply by the appropriate factor:
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Annual |
1.000 |
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Semi Annual |
0.500 |
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Quarterly |
0.250 |
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Monthly |
0.083 |
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Select any one or all of the mentioned funds
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Investment Type |
Secure Fund |
Conservative Fund |
Balanced fund |
Growth Fund |
Growth super Fund
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Government Securities |
50-100% |
50 - 80% |
20 - 50% |
0 - 30% |
0-20% |
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Corporate Bonds (investment grade) |
0-50% |
0 - 50% |
20 - 40% |
0 - 30% |
0-20% |
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Money Market Instruments / Cash |
0-40% |
0 - 40% |
0 - 40% |
0 - 40% |
0-40% |
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Equities
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NIL |
0 - 15% |
10 - 40% |
20 - 70% |
70-100% |
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Dynamic Fund Allocation
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- Standardized and Systematic approach of maintaining debt-equity ratio throughout
the policy term
- Strikes right balance between risk and return with respect to age of policy holder
- Hassle Free Investment (Allocation, Switches, Redirection are taken care of)
- Hedge against capital erosion in the later years Ideal feature for less savvy investors
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