WELCOME TO MAX NEWYORK LIFE INSURANCE COMPANY Presentation by Mudassar Irfan Sankalp kumar singh Ashish Yadav Saurabh Singh Abhinav Prakash
NEWYORK LIFE INSURANCE IS ONE OF THE LARGEST LIFE INSURANCE COMPANIES IN THE WORLD ESTABLISHED IN 1845 IN NEW YORK FORTUNE 100 COMPANY 215BILLION $ UNDER MANAGEMENT FIRST COMPANY TO INSURE WOMEN AT THE SAME RATE AS MEN IN 1894 FIRST COMPANY TO COVER DISABILITY BENEFIT FIRST COMPANY TO ISSUE COVER FOR UNEMPLOYMENT/CUSTOMER CARE ON WEB FIRST TO OFFER CASH DIVIDENTS TO POLICY HOLDERS ABOUT MAX NEWYORK LIFE INSURANCE COMPANY
IN INDIA MAX CAME IN 1985 IS OWNED BY TOP MOST PHARMA COMPANY RANBAXY GROUP WITH MORE THAN 100 OFFICES IN INDIA IN 73 CITIES AND ONE OF THE MOST REPUTATED LIFE INSURANCE COMPANY IN INDIA Max New York Life Insurance Company Ltd. is a joint venture between Max India Limitedand New York Life International ABOUT THE COMPANY
The awareness about insurance products is around 78 per cent in India. However, ownership of insurance products is low - only 24 per cent households in the country own a life insurance cover. At the all-India level, for all households, while the average sum assured of a life insurance policy in the country is Rs 27,951, the average premium paid is Rs 1,227. Some Facts
Awareness of Life Insurance Source-India Financial Protection Survey
OWNERSHIP PATTERN OF LIFE INSURANCE Source-India Financial Protection Survey
A whole life policy runs as long as the policyholder is alive. As risk is covered for the entire life of the policyholder, therefore, such policies are known as whole life policies.
There is no survival benefit as the policyholder is not entitled to any money during his / her own lifetime.
In a whole life policy, the insured amount and the bonus is payable only to the nominee of the beneficiary upon the death of the policyhold
Variable Life Insurance
Variable life insurance allows the insured to invest premiums in securities for a greater return.
These policies require a fixed premium that is placed in a separate account for investing. The death benefit and cash value depend on the investment success of the separate account.
The policy owner can choose to invest in bonds, stocks, mutual funds, or international fund
Universal Life Insurance
Itseparates the saving, expenses, and insurance components, and allows the payment of flexible premiums.
The insured must pay the 1st premium, which is consideration for the contract, but the amount and frequency of subsequent premiums is determined by the insured.
The death benefit can also be changed, but if it is increased, the insured must provide evidence of insurability. Money can be borrowed from the cash value of the policy at very low interest rates, and if the policy allows, additional people can be insured.
A 360 degree coverage to ensure a bright future for your child Guaranteed pay out of University Education Pool Dynamic Fund Allocation ensures life stage based allocation of funds Option to include Dread Disease Rider and Personal Accident Benefit Rider Max New York Life Shiksha Plus II
Insurance cover up to age 100 Tax benefits on premiums and maturity proceeds Additional protection through riders Bonus declared every year from 3rd policy year onwards however bonuses are not guaranteed. Whole Life Participating Plan
Benefits Maturity Benefit Upon maturity of the Policy we shall pay you the Sum Assured together with accrued bonuses, if any. Death Benefit If the Life Insured dies before the maturity of this Policy, we shall pay the premiums received by us together with interest at the rate of four (4) percent per annum, compounded annually, together with accrued bonuses, if any.