Max New York Life- Life Gain Plus Review
Plan Name: Life Gain Plus
Insurer: Max New York Life Insurance Company Limited
Category: Traditional Plan
Objective: Financial protection of family and returns on investment
Major USP of Max New York Life- Life Gain Plus
Double Sum Assured Benefit
Bonuses
Riders available
Limited Pay Term
Eligibility of Max New York Life- Life Gain Plus
Minimum Entry Age: 9 days
Maximum Entry Age: 55 Years
Maximum Age at Maturity: 75 Years
Policy Term: 20, 25 Years
Premium Payment Term: 6, 10, 15 Years
Minimum Sum Assured: Rs 50,000 per annum
Premium Payment Mode: Yearly, Half Yearly, Quarterly or Monthly
What benefits does Max New York Life- Life Gain Plus offer?
Death benefit:
In the unfortunate event of death, Sum Assured will be paid. If the death occurs after 5 years from inception of policy, double the Sum Assured will be paid.
Maturity Benefit:
At the end of policy term, Sum Assured along with guaranteed addition (10% of Sum Assured) will be paid.
Bonuses:
From 3d policy year onwards, bonuses may also be added to your fund amount.
Riders:
You can opt for accident benefit rider, term rider, dread disease rider, waiver of premium rider, term renewable and convertible rider and payor rider with the plan.
Are there any tax benefits?
Under Section 80C you can avail tax benefit, yearly premium (not more than 1lac) will be deducted from taxable income.
Under Section 10(10D) death claim is completely tax free.
How can I buy Max New York Life- Life Gain Plus?
Policybazaar representatives will assist you in buying Life Gain Plus.
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