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Knowledge Base Life Insurance Basics Max New York Life Insurance
Thursday, 27 January 2011 16:40

Max New York Life Insurance

Written by  Yashish Dahiya
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Max New York life Insurance (MNYL)


Max New York Life Insurance Company, established in 2000, is one of the most admired private insurance company.  Max New York is a joint venture between Max India – India’s multi business corporate and New York Life International – New York Life, US based Insurance Company. Max New York Life is the first life insurance company to be awarded 9001:2000 ISO certification.

Product Portfolio:


Max New York has variety of products covering Child Plans, Retirement Plans, Health Plans and savings & investment plans.

Retirement Plan: The cost of living is experiencing fast steady rise which makes retirement plan an important financial decision. Better known as Pension plan, this plan takes care of financial needs after retirement by investing a part of your savings for limited period. Pension plan provides steady income after retirement and takes care of daily needs. The pension plan offered by Max New York Life is Life Partner Plus.

Child Plan: Parenthood brings happy times as well as responsibilities. Child Plan is a plan specifically designed to take care of financial needs of your child. Child plan provides with necessary funds that will take care of child’s education, marriage etc. By investing small portion of your savings you secure the financial end of your child. Child plans of Max New York Life are called Life Shiksha Plus II and Life Smart Bond.

Term Plan: A risk plan which provides comprehensive cover for your family in the unfortunate event of untimely demise. A term life insurance plan provides good cover at relatively nominal cost and has no survival benefits. Max New York Life term plans are Platinum Protect and Lifeline Safety Net.

Investment Plan:  Popularly known as ULIP, an investment plan invests part of your savings in equity or debt market as per your preference. The objective of investment plan is to give you returns which easily beat the rising costs since the usual returns in a bank are extremely low. ULIP’s offered by Max New York Life are Max New York Life Shubh Invest, Whole Life (Par), 20 year Endowment (Par), Endowment to Age 60 (Par), Life Gain Plus25 (Par), Life Pay Money Back, Life Gain Endowment, Max New York Life Smart Bond, Max Mangal, Max Vriksha and Bonus Builder. Max recently launched Flexi Fortune which offers more flexibility in choosing Sum Assured and premium payment term.

Health Plan: Slightly different from health insurance, health plan provides cover for surgery costs, critical illness. A lump sum is paid irrespective of actual hospital bill. Lifeline Medi Cash Plus, Lifeline Safety Net, Max New York Lifeline Healthy Family and Lifeline Wellness Plus are Max New York’s health plan.

Distribution Network:


Max New York Life has multi-level distribution network with over 650 branches and 70,000 agents.

Financial Information:


The total premium earned for the half year ended September 30, 2010 was Rs 26,653 million. The profit after tax for the same period is Rs 654 million.

Marketing Campaigns:


Max New York Life launched its initial campaigns focusing on the aspect of Max heritage, “quality advice” and the expertise offered by Max financial consultants. The recent campaign of Max New York Life revolved on the theme of “Karo zyaada ka iraada” encouraging youngsters to be more ambitious with Max New York being their partner. Max New York also was exclusive life insurance sponsor with Indian Premier League (IPL) - biggest domestic cricket event for shorter format of the game. Max New York also initiated long term parent-child nurturing program (igenius.org) which has many events for children to participate in.

Distinctions:


  • Outlook Money survey ranked MNYL No.1 in Slow, Medium and Quick fund categories
  • BT Mercer – Ranked No7 in the “Best companies to Work For”
  • Awarded the Gallup Great Work Place Award 2009
  • CII – Exim Bank Commendation Certificate for Business Excellence – 2008 & 2009
  • Received ‘Best Six Sigma Project’ award at 6th CII National Six Sigma conventions – 2009.
  • Recipient of 2008 CIO 100 Award for technology implementation
  • Golden Peacock Award for Innovation – 2008
  • Among the top 25 companies to work for in India, according to Business world 2003 ‘Great Workplaces of India’
  • Among the top five most respected insurance companies in India as per Business world 2004 & 2006 survey
  • Won Indo-American Corporate Excellence Award for Best Indo-US company in Financial Services Category in 2006

Management:


Rajesh Sud is the MD & CEO of Max New York Life.

Sunil Kakar is the CFO of Max New York Life.
John Poole is the Appointed Actuary of Max New York Life.

Reach Max New York Life:


Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Telephone: 1800 200 5577

SMS “LIFE” to 54242

Max New York Life Product Table:


 

Retirement/Pension Plan

Life Partner Plus

Child Plan

Max New York Life Shiksha Plus II

Child Plan

Max New York Life Smart Bond

Term Plan

Max New York Platinum Protect

Term Plan

Lifeline Safety Net

Savings & Investment Plan

Max Flexi Fortune

Savings & Investment Plan

Max New York Life Shubh Invest

Savings & Investment Plan

Whole Life (Par)

Savings & Investment Plan

20 year Endowment (Par)

Savings & Investment Plan

Endowment to Age 60 (Par)

Savings & Investment Plan

Life Gain Plus25 (Par)

Savings & Investment Plan

Life Pay Money Back

Savings & Investment Plan

Life Gain Endowment

Savings & Investment Plan

Max New York Life SMART Bond

Savings & Investment Plan

Max Mangal

Savings & Investment Plan

Max Vriksha

Savings & Investment Plan

Bonus Builder

Health Plan

Lifeline Medi Cash Plus

Health Plan

Lifeline Safety Net

Health Plan

Max New York Lifeline Healthy Family

Health Plan

Lifeline Wellness Plus

 
Sources:


Max New York Life Website

 

Compare Life Insurance Plans from All Insurance Companies

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3 comments
  • Comment Link ravi kant singh Wednesday, 16 February 2011 13:43 posted by ravi kant singh

    jankari lani hai

  • Comment Link Administrator Thursday, 17 February 2011 11:19 posted by Administrator

    Hi Ravikant,
    For any information on insurance related topic or policy bazaar kindly write to us, send an email to custcare@policybazaar.com or to speak to our insurance experts, please call 0124 4576777
    Alternatively, you may also email at feedback@policybazaar.com, with the query you have and your contact info.
    Thanks

  • Comment Link sandeep Tuesday, 18 October 2011 20:58 posted by sandeep

    if i take a ulip plan of rs. 10000 premium/yr for my child for 20 years then how much approx. i can get after after the complition of my policy.

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