Let's Mingle with Mangal.
An ideal insurance plan is one that addresses the exact insurance and financial
needs of individuals and Max New York Life offers an array of excellent insurance
plans, which would cater to your insurance needs.
As the name suggests itself, Max Mangal™ Endowment (Participating) Policy
is a unique plan with limited premium paying term by which you can reduce your financial
burden and enjoy increasing life cover for the entire term. This Policy will let
the customers enjoy a “Mangalmay Life” without any stress and strain.
For more information on Max MangalTM, 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".
- Assured High Returns : Guaranteed 110% of sum assured at maturity
- Higher Security: Increasing life cover @ 6.5% per annum
- Additional Maturity Benefit: Additional regular bonus payable at maturity
- Peace Of Mind: Life Cover Increases even after premiums are fully paid
- Flexibility: Option to choose tenor of 12 or 15 years
- Easy To Plan: Pay premium only for 6 or 12 years
- Easy to Own: No Medicals
- Easy To Apply: Easy to fill proposal form
- Save Tax: Tax benefits u/s 80C & 10(10D)
- No Obligation: 15 days free look period
- Quality Of Service: Service from an ISO 9001:2000 company
Eligibility Criteria
|
Criteria |
Eligibility |
|
Entry Age
|
18 to 50 year |
|
Max Maturity Age |
65 years for 15 year plan
62 years for 12 year plan |
|
Policy Term
|
12,15 years |
|
Minimum Sum Assured (SA) |
Rs. 50, 000 |
|
Maximum Sum Assured (per life) |
Rs. 2,33,236 for 12 year term
Rs. 2,09,424 for 15 year term
|
|
Premium Limited |
6 pay for 12 years term
6 or 12 pay option for 15 years term
|
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You have the flexibility to direct your investments in any one or more of the following
five unit linked investment funds of the Company: SECURE, CONSERVATIVE, BALANCED,
GROWTH and GROWTH SUPER. These funds invest in Fixed Income and equity assets as
follows
|
Fund
|
Secure fund |
Conservative fund |
Balanced fund |
Growth fund |
Growth super Fund
|
|
Investment type |
|
Government Securities |
50-100% |
50 - 80% |
20 - 50% |
0 - 30% |
0-20% |
|
Corporate Bonds (investment grade) |
0-50% |
0 - 50% |
20 - 40% |
0 - 30% |
0-20% |
|
Money Market Instruments / Cash |
0-20% |
0 - 20% |
0 - 20% |
0 - 20% |
0 - 20% |
|
Equities
|
NIL |
0 – 10% |
10 - 40% |
10 - 70% |
70-100% |
|
|
|
Flexibilities
|
|
Switching: This plan allows you to switch between funds and allows you to change
your risk return profile of your existing investments, safeguarding/increasing your
investments for your child. 6 Free switches are available to you in a Policy Year.
Premium Re-direction: This plan allows you to re-direct your future premiums. You
can invest your future premiums in a fund different from your earlier fund, or to
multiple funds in a ratio different from your earlier ratio. 3 free re-directions
are available to you in a policy year.
Partial Withdrawal: You can make lump-sum partial withdrawals from your funds at
any time after the completion of five policy years and within the policy term chosen,
provided the minimum amount of partial withdrawal is Rs.10,000.
Surrenders: You may by giving us a prior written request, surrender this policy,
at any time after the completion of first policy anniversary, provided an amount
equal to one ATP has been paid by you. However, the surrender value if any shall
be paid only after the completion of third policy anniversary.
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