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Whole Life Participating Plan
UIN 104N004V01
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With an insurance cover till age 100, Whole Life Participating Plan is designed
to provide you a lifetime of security. The good times that you and your family lead
should last a lifetime. However one cannot avoid unpleasant surprises and misfortunes
in life. The Whole Life Plan provides you with the comfort that your near and dear
ones will continue to live their lives in comfort without financial worries even
when you are not around.
The Whole Life Plan provides an insurance cover that is guaranteed for life. The
policy also builds cash value, which you can use to fund any unforeseen needs. In
addition, the policy is also eligible for bonuses. Max New York Life’s savings
plans are designed to provide the customer the dual benefits of protection along
with the potentially higher returns. This plan also allows you to purchase additional
benefits in the form of bonuses that will be paid on maturity of the Base policy
or in the unfortunate event of the death of the Life Insured. Additionally, you
can also continue to invest more funds without having to provide any further evidence
of insurability.
For more information on Whole Life (Par), 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".
- Insurance cover up to age 100
- Option to Participate in Progressive Bonuses
- 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 70 years |
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Maximum Maturity Age |
100 years |
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Premium Payment Term |
Regular |
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Minimum Sum Assured |
Rs. 100,000 |
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Maximum Sum Assured |
Rs. 5 Crore |
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Benefits |
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Maturity Benefit |
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We will pay an amount equal to Sum Assured along with accrued bonus (if any) |
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Death Benefit |
- We will pay an amount equal to Sum Assured along with accrued bonus (if any)
- If death occurs before life insured reaches age 10 , the company will refund all
the premiums paid along with interest
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Option to Participate in Progressive Bonuses |
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It allows you to top up your premiums to purchase additional Sum Assured towards
your existing policy. It also generates further bonuses.
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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 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 is 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) |
Guaranteed Insurability Option (GIO) Rider |
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 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 1lac |
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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 Sum Assured for Male age 35 for a 5 year term
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Rs. 3.91
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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 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 – 38 Years |
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Benefits |
The GIO allows the life insured to purchase additional insurance, similar to the
base insurance, over aged linked dates. In addition, an insured can buy additional
insurance at two life events – childbirth (including adoption) and marriage.
The age-linked dates are every 3 years from the date of purchasing the policy. Subject
to limits, the insured need not give evidence of insurability while taking additional
life insurance. A maximum of 7 options will be allowed. The limit includes all life
event linked options also. |
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Expiry Age |
41 Years |
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Minimum Face Amount |
25% of the Base Face Amount |
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Maximum Face Amount |
Maximum face amount that can be purchased at each option age is the lower of the
base face amount at issue or Rs. 2.5 lacs. Option available at every third policy
anniversary from date of issue along with extra options at childbirth and marriage
are subject to an overall cap of Rs. 17.5 lacs for all 7 occasions.
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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 - 45 Years
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Expiry Age |
55 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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