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Life Gain™ Endowment Plan
UIN 104N023V01
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Because emergencies can arrive at any time.
You have many thoughts and dreams for your family and yourself. You want to buy
a house once you retire, you wish to send your children to the best schools that
money can offer, you want to get them married and settled, you want to go out on
a long leisurely vacation with your spouse, and many more. Endowment plans allow
you to accumulate your savings for these needs and ensure that the money is available
to take care of them.
Life Gain™ Endowment (Participating Plan) provides you with an insurance cover
that is guaranteed during the tenure of the policy. This policy also builds cash
value, which you can use during your lifetime to fund any unforeseen needs either
by surrendering accumulated PUAs or taking a loan. This plan not only takes care
of your savings and investment needs but also guarantees you a life cover protection.
In addition, this policy is also eligible for bonuses. The Company may declare bonuses,
from time to time, from the third policy year and these will be paid out, based
on your choice of bonus options.
For more information on Life Gain™ Endowment, 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 – 65 years (10 year plan)
91 days – 60 years (15 year plan)
91 days – 55 years (20year plan)
91 days – 50 years (25 year plan)
91 days – 50 years (to Age 60 plan) |
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Maturity Age |
75 Years |
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Minimum Sum Assured |
Rs. 50,000
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Maximum Sum Assured |
No Limit (subject to underwriting) |
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Living Benefit |
- Sum Assured plus Guaranteed Addition @ 10% of Sum Assured plus accrued bonus plus
terminal bonus (if any)
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Death Benefit |
- Sum Assured plus accrued bonus
- However , in the case of death before the age of 10 we will refund the premiums
with interest
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Bonus Options |
- Paid in Cash
- Premium Offsett
- 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 the cash
value will be used to buy you insurance coverage in one of the following ways:
- Reduced Paid Up: A smaller Sum Assured for the remaining term of your policy
- Extended Term Insurance: The same Sum Assured is for part of the remaining
term of your policy
In case , you do not want either of the above then you can opt 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 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 – 55 Years
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Benefits |
The term rider is a pick-a-term plan available for a minimum term of five years
up to the age of 60. The rider allows the insured to purchase additional coverage
at low cost. The 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 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 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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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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MEMBER LOGIN... |
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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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