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Max New York Life Unit Builder Plus
UIN 104L057V01
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To keep up with busy times and increasing responsibilities, Max New York Life introduces Unit Builder Plus. It brings the convenience of Limited Premium Payment by paying only for 10 years for a 20 year term.
Through Guaranteed Loyalty additions of 100% of ATP in year 10 it helps you achieve your financial goal. Additional Guaranteed Loyalty Additions of 25% of ATP supplement your income through year 11 to 20. As your responsibilities increase so does your cover through PACE, from year 2 to year 10.
For more information on Max New York Life Unit Builder Plus, please
click here and provide your contact details. Our Financial Advisor will
contact you soon to provide more information on this product.
- Progressive Automatic Cover Enhancement each year from 2 nd year to 10 th year by the amount of 1 ATP
- Guaranteed Loyalty Additions in 10 th year of 100% of ATP
- Annual Income through Guaranteed Loyalty Additions of 25% of ATP each year from year 11 to 20
- 7 Investment Options to customize the plan according to your risk appetite and milestones
Eligibility Criteria
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Criteria |
Eligibility |
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Entry Age
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7 years- 55 years |
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Maximum Maturity age (Life Insured) |
75 years |
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Policy Term |
20 years |
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Premium Payment Term |
10 years( Limited) |
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Premium Payment Term |
Level: Premium remains stable
Increasing: Increasing premium@ 5% each year with increase in Sum Assured.
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Minimum ATP allowed: |
Rs. 12,000
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Maximum ATP allowed: |
Rs. 50,000
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Sum Assured
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ATP * 10(fixed)
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Benefits |
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Maturity Benefit |
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Fund Value which would also include Guaranteed Loyalty Additions of (350% of ATP during the entire policy term). |
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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 upto a maximum of 5 years, where it will continue to be invested.
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Death Benefit |
- Immediate payout of attained Sum Assured+ Fund Value:
Level: PACE, increase in sum assured by 1 ATP each year from year 2 to year 10
Increasing: Sum assured to increase by 5% each year from year 2 to year 10
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Personal Accident Benefit Rider |
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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 in case
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:
- rrecoverable 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 |
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 Semi Annual, Quarterly and Monthly Modes |
For traditional policies, multiply by the appropriate factor
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Annual |
1.000 |
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Semi Annual |
0.520 |
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Quarterly |
0.265 |
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Monthly |
0.090 |
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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 in case
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
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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 1,00,000/- |
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Maximum Face Amount |
The lower of base face amount or Rs. 40 Lacs
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Benefit Features |
Gives an additional benefit upon diagnosis of any of the ten diseases viz – 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 PremiumsSemi Annual, Quarterly andMonthly Modes |
For Selling DD on traditional policies, please for multiply by the factor below:
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Annual |
1.000 |
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Semi Annual |
0.520 |
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Quarterly |
0.265 |
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Monthly |
0.090 |
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Age |
20 – 45 Years (Whole Life Par)
20 – 55 Years (All other plans) |
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Benefits |
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 |
55 Years (Whole Life Par)
60 Years (All other plans) |
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Minimum Face Amount |
Linked to Base and relevant rider Premiums |
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Maximum Face Amount |
Subject to underwriting
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Calculation of Modal Premiums, Semi Annual, Quarterly andMonthly Modes
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For the following frequencies multiply by the factor given below:
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Annual |
1.000 |
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Semi Annual |
0.520 |
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Quarterly |
0.265 |
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Monthly |
0.090 |
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You have the choice of any of the 7 expertly managed funds to direct your investments in any one or more of the following funds of the company.
| Funds |
Asset Types |
| Government Securities |
Corporate Bonds (Investment Grade) |
Money Market and Cash Instruments |
Equity |
Secure |
50-100% |
0-50% |
0-40% |
Nil |
Conservative |
50-80% |
0-50% |
0-40% |
0-15% |
Balanced |
20-50% |
20-40% |
0-40% |
10-40% |
Growth |
0-30% |
0-30% |
0-40% |
20-70% |
Growth Super |
0-20% |
0-20% |
0-30% |
70-100% |
Dynamic Opportunities |
0-100% |
0-100% |
0-40% |
0-100% |
Money Market |
Nil |
Nil |
100% |
Nil |
OR
Dynamic Fund Allocation
- 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
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:
- 12 free partial withdrawals/policy year
- Can be made anytime post completion of 3 years
- Maximum: 20% of Fund Value -Fund Value cannot be less than 1.5 times Initial ATP
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