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Max New York Life SMART Xpress
UIN 104L051V02
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Life isn’t only about golfing greens and gourmet dinners. Neither is it defined
only by long hours and loads of hard work. It is a balancing act about having it
all and not having to give one up for the other.
So, when you believe that life is not about compromises and have always got what
you want, then why choose between what you desire from an Investment?
- Wealth creation through an extensive variety of expertly managed funds
- Safety of investment through Money Market Fund
- The comfort of a Limited premium paying term
- Reward of persistency units, even with a short policy term
- Additional protection against disease/disability through Rider options
- Systematic Transfer Plan option: ensures investments have a safety belt while riding
the current market volatility.
Here is a plan that ushers in a shift in the way that you choose. From "OR”
to “AND”, after all you expect MORE
from Max New York Life.
For more information on Max New York Life's Smart Xpress Plan, 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".
So don’t settle for Less, choose Max New York
Life SMART Xpress.
Eligibility Criteria
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Criteria
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Eligibility
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Entry Age
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Minimum: 91 days
Maximum: 55 years (Single Premium)
60
years (3 pay/5 pay)
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Maturity Age
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Maximum: 65 years (Single Premium)
70 years (3 pay/5 pay)
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Policy Term
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Fixed term of 10 years
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Premium Payment Options
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Single Premium
3 Pay
5 Pay
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Minimum Annual Target Premium(ATP)
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Single Premium: 1,50,000
3 Pay: 1,00,000
5 Pay: 50,000
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Maturity Benefit:
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Fund Value, which would also include Persistency Units each year for the last 5 years
of the policy.
Living Benefit
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Premium Payment Option
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Persistency Unit as a % of ATP
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Single Premium
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O.5%
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3 Pay/5 Pay
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4%
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Settlement Option: On maturity you can take your entire money in
a lump-sum or opt for a settlement option wherein;
- You will receive periodical payments
- Policy will continue without Death benefit for a maximum of 5 years, where it will
continue to remain invested
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Death Benefit:
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Higher of Fund Value or Sum Assured
The Sum assured depends upon the premium payment option i.e. it is a multiple (corresponding
of the premium payment option) of the ATP
3 Pay/5 Pay
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Age Band of Life Insured
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Minimum ATP Multiple
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Maximum ATP Multiple
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Up to 25 years
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5
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30
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26 to 35 years
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5
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25
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36 to 49 years
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5
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10
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50 to 60 years
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5
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5
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Single Pay
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Age Band of Life Insured
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ATP (Single Premium) Multiple
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Up to 49 years
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1.10 or 5
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50 to 55 years
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1.10
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Note: Death benefit will be fund value till age 7
- Wealth creation through an extensive variety of expertly managed funds
- Safety of investment through Money Market Fund
- The comfort of a Limited premium paying term
- Reward of persistency units, even with a short policy term
- Additional protection against disease/disability through Rider options
- Systematic Transfer Plan option: ensures investments have a safety belt while riding
the current market volatility.
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Dread Disease Rider
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Personal Accident Benefit Rider
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Age
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20 – 50 Years (depending upon Term)
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Benefits
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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:
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Pick-a-Term: Minimum 10 Years
Maximum 40 Years
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Expiry Age
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60 Years
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Minimum Face Amount
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Rs 1 lac
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Maximum Face Amount
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The lower of base face amount or Rs. 10 Lacs
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Benefit Features
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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
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For each frequency, multiply by the appropriate factor:
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Annual
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1.000
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Semi Annual
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0.500
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Quarterly
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0.250
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Monthly
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0.083
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Age
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20 – 55 Years
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Benefits
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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
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60 Years
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Minimum Face Amount
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Rs 1 lac
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Maximum Face Amount
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The lower of base face amount or Rs. 40 Lacs
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Benefit Features
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Includes benefit incase of accidental death or permanent and total disability
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Age
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20 – 45 Years (Whole Life Par)
20 – 55 Years (All other plans)
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Benefits
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The waiver of premium protects the life insured from the burden of paying the premiums
on his insurance in case he/she gets totally disabled. “Total Disability”
or “Totally Disabled” refers to the life insured becoming permanently
and totally disabled as a result of injury or sickness and is thereby totally incapable
of engaging in any gainful activity or carry out any work, occupation, or profession
to earn or obtain any wages, compensation, remuneration or profit
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Expiry Age
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55 Years (Whole Life Par)
60 Years (All other plans)
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Minimum Face Amount
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Linked to Base and relevant rider Premiums
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Maximum Face Amount
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Subject to underwriting
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Calculation of Modal Premiums, Semi Annual, Quarterly, Monthly Modes
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For the following frequencies multiply by the factor given below:
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Annual
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1.000
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Semi Annual
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0.500
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Quarterly
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0.250
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Monthly
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0.083
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You have the choice of any of the 8 expertly managed funds to direct your investments
in any one or more of the following funds of the company.
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Fund
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Asset Types
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Government Securities
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Corporate Bonds (Investment Grade)
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Money Market and Cash Instruments
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Equity
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Secure
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50-100%
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0-50%
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0-40%
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Nil
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Conservative
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50-80%
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0-50%
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0-40%
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0-15%
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Balanced
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20-50%
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20-40%
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0-40%
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10-40%
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Growth
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0-30%
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0-30%
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0-40%
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20-70%
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Growth Super
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0-20%
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0-20%
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0-30%
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70-100%
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Dynamic Opportunities
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0-100%
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0-100%
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0-40%
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0-100%
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*Money Market
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Nil
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Nil
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100%
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Nil
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**Secure Plus
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60-100%
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0-40%
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0-40%
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Nil
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*The declared Net Asset Value (NAV) of the Money Market Fund at any given business
day is Guaranteed to be not less than the declared Net Asset Value of the previous
business day. This will ensure that the investments done in this fund are secure
and are protected from any capital erosion. This fund is ideal for customers having
low risk appetite.
**Secure Plus Fund is applicable only with Systematic Transfer Plan
You also have Systematic Transfer Plan as an option, wherein your
Annual Premium is moved to Secure Plus fund and in 12 equal monthly installments
it moves to Growth Super fund.
Flexibilities
Switching:
- Existing investment can be moved in totality or in a certain proportion to one or
more funds from the current one
- 12 free switches/policy year
Premium Redirection:
- Modify the flow of future investments, different from the existing pattern.
- 12 free redirections/policy year
Partial Withdrawals
Can be made anytime post completion of 3 years
3 Pay/5 Pay: -
Minimum: Rs 5,000
Maximum: Lower of 20% of Fund Value OR (Fund Value- 1.5 Initial ATP)
Single Premium: -
Minimum: Rs 5,000
Maximum: Fund Value – 20% of ATP
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Please wait. Updating...
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Net Asset Value on Date |
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 Balance Fund - |
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Conservative Fund - |
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Growth Fund - |
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Secure Fund - |
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Growth Super Fund - |
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High Growth Fund - |
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Growth Super Fund Pension - |
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Guaranteed Dynamic Fund - |
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Guaranteed Income Fund - |
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Dynamic Opportunities Fund - |
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Money Market Fund - |
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Secure Plus Fund - |
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