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Level Term Policy (Non - Par/Non - Con)
UIN 104N009V01
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In the exciting journey of life, there will be uncertainties, and there will be
various occasions when you have to play or assume added responsibilities being the
head of the family. The much-anticipated arrival of a new member in the family,
the purchase of your dream house, the wonderful event of your marriage, your children's
higher education or their marriage may all be described as planned life events,
but they bring their own share of uncertainties. It is important to be financially
secured and prepared to meet these uncertainties and make your family feel fully
protected, should something unfortunate happen to you.
Max New York Life's Level Term (Non Participating) Policy is a plan that covers
your life at a very low cost and reduces the consequent hardship your family may
have to bear in the unfortunate event of your death. Incase of the unfortunate death
of the policy holder during the term of the plan, an amount equal to the sum assured
is paid to the nominee.
For more information on Level Term Policy, 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".
- In the exciting journey of your life, there will be uncertainties. Additionally
there may be times and occasions when you have to assume additional responsibilities
as the head of the family. Max New York Life's Level Term (Non Participating) Policy
insures your life at a very low cost and reduces any hardship your family may have
to bear in the unfortunate event of your death.
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Eligibility |
Criteria |
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Age at Entry |
18 years to 55 years |
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Maximum Age at Maturity |
60 Years |
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Term |
5,10,15,20 or 25 years or to Age 60 Years |
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Sum Assured |
Rs. 2,50,000 to Rs. 5 Crore |
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Premium Payment Options |
Annual, Semi-annual, Quarterly, Monthly, Single |
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Benefits |
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On death of life insured: In case of the unfortunate death of the life insured
during the term of the plan, an amount equal to the Sum assured is paid to the beneficiary. |
Tax benefits: |
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You are entitled to the following tax benefits under Income Tax Act 1961:
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- Your premiums are eligible for deduction u/s 80C up to Rs.1,50,000/- every year.
- Your DD rider premiums are eligible for an additional deduction u/s 80D up to Rs.15,000/-
every year.
- Your claim amounts (from death) are eligible for tax exemption u/s 10(10D).
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Dread Disease Rider |
Personal Accident Benefit Rider |
Waiver of Premium |
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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 theappropriate 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
- 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, 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 – 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 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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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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