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Endowment to Age 60 (Par) Plan
UIN 104N007V01
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There comes an age in life, when all one needs is peace of mind and security after
retirement, then your sources of income reduce but your expenses don't. From medical
costs to children's marriage expenses, all seems to touch the sky. So it makes great
sense to plan well in advance for a secured life after retirement.
Max New York Life's Endowment to age 60 Participating Insurance is a policy that
helps you to save primarily for your retired life. It will mature on thepolicy anniversary
after your 60th birthday, and enables you to use the maturity proceeds in many ways
such as, purchase a pension from any life insurance company, purchase that house
in your hometown where you want to lead your retired life or pay for your child's
higher education or marriage. This plan also provides you with an insurance cover
to protect your family from financial uncertainties in case of your untimely death
before reaching age 60. Till age 60, this policy also builds cash value, and is
eligible for bonuses. You may use the cash value and/or the bonuses to fund any
unforeseen needs either by surrendering accumulated PUAs or taking a loan.
For more information on Endowment to Age 60, 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".
- Guaranteed Financial Protection
- Tax benefits on premiums and maturity proceeds
- Additional protection through riders
- Bonus declared every year from 3rd policy year onwards
Eligibility Criteria
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Criteria |
Eligibility |
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Entry age |
91 days to 50 years |
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Maturity age |
60 years |
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Minimum Sum Assured |
Rs. 100,000
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Maximum Sum Assured |
Rs. 5 crore |
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Living Benefit |
- Sum Assured plus accrued bonuses
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Death Benefit |
- Sum Assured plus Sum Assured of Paid Up Additions, if any (without deducting any
money back installments, if already paid).
- However on death before age 10 we will refund the premiums with interest
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Bonus Options |
- Paid in Cash
- Premium Offset
- Paid up Additions
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Non-Forfeiture Options |
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In case you are unable to pay your premiums, your policy will lapse and we will
utilize your cash value to buy you insurance coverage in one of the following ways:
Reduced Paid Up:A lower Sum Assured for the remaining term of your policy
Extended Term Insurance:The same Sum Assured for part of the remaining term
of your Policy.
In case you do not want either of the above, you can choose to take the cash value
by cheque.
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Dread Disease Rider |
Personal Accident Benefit Rider |
Term Rider |
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Waiver of Premium (WOP) |
Term R&C Rider
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Payor 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 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 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 |
0.520 |
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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:
- 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 |
The lower of base face amount or Rs. 40 lacs |
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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 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 term rider is a pick-a-term plan starting from 5 years term to a plan to age
60. The rider allows the insured to purchase additional coverage at low cost> the
only benefit is paid on the untimely death of the insured. |
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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. 5 Lacs |
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Premium per Rs ‘000 for a for a male of age for 5 years |
Rs. 2.70
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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 |
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 Participating)
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 Participating)
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 for Annual, Semi Annual, Quarterly , Monthly 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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Entry Age |
20 – 50 Years
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Tenor of the rider |
5 Years |
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Expiry Age |
60 Years |
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Benefits |
The benefit is paid only on the death of the Insured during the period of the cover |
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Minimum Face Amount |
Rs 250,000 |
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Maximum Face Amount |
The lower of base Face Amount or Rs. 20 lakhs |
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Renewability |
Once, automatically at the end of the first term |
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Convertibility |
Anytime in the first 10 years of the rider, to an existing insurance policy
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Calculating Modal Premiums for Annual, Semi Annual, Quarterly and Monthly Premiums
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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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Age |
20 - 55 Years
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Expiry Age |
60 Years
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Benefits |
A variant of the WOP rider, this rider covers the life of the proposer of the policy.
A wonderful add-on to children products, this will ensure the policy continues even
if the proposer were to be disabled or is no longer there to pay the premiums. The
rider covers all the disability benefits under the WOP along with the Death. “Total
Disability” or Totally Disabled” refers to the proposer becoming permanently
and totally disabled as a result of injury or sickness and 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. This is ideally
suited for Children’s Endowment product issued by Max New York Life Insurance
Co. Ltd.
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Individual/Group |
Individual |
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Face Amount Range |
Linked to base and relevant rider premiums
(Subject to Underwriting).
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Premium Paying Term |
Level |
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Calculation of Modal Premiums Semi Annual, Quarterly and Monthly Modes |
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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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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