20-YEAR ENDOWMENT POLICY     5-YEAR TERM RENEWABLE & CONVERTIBLE INSURANCE
 

Endowment Participating Insurance is a plan that is ideal if you are looking to save money for a specific purpose. Additionally, you get a guaranteed sum, along with the accumulated bonus at the end of 20 years. However, bonuses are not guaranteed and will be as declared by the Company from time to time.

Your 20-year Endowment Participating Insurance Policy also offers a death benefit, which is guaranteed for the term of the Policy. What's more, any Cash Surrender Value that accumulates in the Policy can be accessed even while the Policy is in existence, to meet unforeseen expenses.

20-YEAR ENDOWMENT BENEFITS

• It helps you meet the vital financial needs of the future, such as your child’s education or marriage.
• The sum that you receive on maturity serves as an additional source of income.
• It has a guaranteed death benefit during the term of the Policy.
• Your Policy will acquire a Cash Surrender Value after 3 years
  Premium(s) have been paid.
• You have the facility to take a loan, after your Policy has acquired a Cash Surrender Value, to fund unexpected requirements.
• A guaranteed, fixed premium, allows you to plan your finances better.
• You will get bonus payable once the Policy has been in effect for at least two years, with an option of how you want it paid. For example, you can even get cash every year rather than waiting for the maturity of the policy. However, bonuses are not guaranteed and will be as declared by the Company from time to time.

MY OPTIONS - THE WAY TO THE PERFECT 20-YEAR ENDOWMENT POLICY

• Under My Options, Max New York Life offers you Riders, which allow you the flexibility to customize and enhance the value of your 20-year Endowment Policy. You also have the choice of attaching these Riders at the time of buying your Policy or anytime later, subject to meeting certain conditions. You may attach one or more of the following Riders to your 20-year Endowment Insurance Policy:
• Personal Accident Benefit Rider (PAB): This offers you additional benefit against death in an accident or even in the case of Total and Permanent Disability caused by an accident.
• Term Rider: To match your changing needs, you can buy additional insurance for a term of 5 years or 10 years, or till you are 60 years of age.
• Dread Disease Rider (DD): This provides additional benefit in the event of the Life Insured getting afflicted by any of the specified dread diseases (refer to list with your Agent).

OTHER SPECIAL FEATURES OF 20-YEAR ENDOWMENT POLICY

• free look^TM: This feature, in keeping with Max New York Life’s tenet of total transparency, gives you the option to cancel the Policy within 10 days of receipt, should you so wish.
• Personal Insurance Plan^TM: Depending on your individual financial need, our Agent will be able to prepare a Personal Insurance Plan and tailor a policy that best fits your requirements. What’s more, this plan also gives you a year-on-year summary of the premiums that you pay, as well as the likely benefits that may accrue to you.
• Terminal Illness Benefit: In case the Life Insured is diagnosed to be suffering from a terminal illness that can lead to death in 6 months, the Company will immediately advance up to 50% of the benefits payable,
• subject to a maximum cumulative of Rs 5 lacs, and the balance on the occurrence of the Insured Event. Minimum issue age is 20 years, while maximum issue age is 50 years.
• Choice of yearly, half-yearly, quarterly or even monthly premium payment options.
• Once the policy has acquired a cash value, you will even be eligible for a loan. The amount and the rate of interest of the loan will be in accordance with the Company's terms, at the point in time.