Max New York Life launches two new ULIPs

New Delhi, Sept. 9 (ANI-Business Wire India): Continuing a tradition of delivering products with superior customer value, Max New York Life Insurance Co. Ltd, one of India's leading life insurance companies announced the launch of two new life insurance solutions 'Max New York Life Shubh Invest' and 'Max New York Life Shiksha Plus II'.

Both these products are compliant with the new IRDA regulations and also the proposed new 'Direct Tax Code' which will be in effect from 2012. The sum assured on both these products is more than 20 times the premium amount hence making it eligible for tax exemption at maturity also.

Key Highlights

- 2 new ULIPs - IRDA and DTC ready

- Qualified for 'EEE'

- Inbuilt portfolio manager through features such as Dynamic Fund Allocation and Systematic transfer plan introduced with child plan

Speaking at the launch, V Viswanand, Director and Head Products and Persistency, Max New York Life Insurance Co. Ltd. said, "Our new offerings are DTC ready and have been specially designed as an attempt to re-emphasize the basic purpose of life insurance - Protection and long term wealth creation. Max New York Life Shubh Invest is our unique attempt to reach out to customers who for the first time want to explore savings options that would ensure their participation in country's economic growth. The new product Max New York Life Shiksha Plus II not only retains the features of our erstwhile product Max New York Life Shiksha Plus, which were liked by our customers but also has some new features essential to ensure protection of savings."

Max New York Life Shubh Invest is a simple, affordable yet powerful solution to start ones journey towards financial independence. The plan offers safe savings options for those who might wish to buy their maiden insurance plan and combines the twin benefits of Wealth and Health coverage

Features

Low entry point - Annual Premiums starting at as low as Rs. 15,000 Comprehensive protection through high sum assured multiple of more than 20 times (For ages 21 to 29, 30 times and for ages 30 to 50, 20 times), inbuilt dread disease benefit and optional personal accident benefit rider.

Capital preservation through Dynamic Fund Allocation a life stage based automatic investment strategy

Continued EEE benefit even under new Direct Tax Code

Max New York Life Shiksha Plus II is a 360-degree child plan launched with additional features that provide resources for over all development of your child under all uncertain circumstances.

Features

University Education Pool to take care of expenses on higher education for children.

School Fee Support to provide for the yearly education expenses of the child in case of an unfortunate event of death of the parent.

University Education Support in the form of all future premiums funded by the company in case of unfortunate event of death of the parent.

Capital preservation through Dynamic Fund Allocation a life stage based automatic investment strategy and Systematic Transfer Plan that helps customers maximize returns over unstable markets and volatility Continued EEE benefit even under new Direct Tax Code

About Max New York Life Insurance Co. Ltd. (www.maxnewyorklife.com)

Max New York Life Insurance Company Ltd. is a joint venture between Max India Ltd., one of India's leading multi-business corporations and New York Life International, the international arm of New York Life, a Fortune 100 company.

It has been operating in India since 2000 as one of India's leading private life insurance companies. (ANI)