• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Ahmedabad, Sept. 27

Max New York Life has launched Smart Steps range of unit-linked Child Plans to facilitate planning for children’s needs and provide financial protection.

The new product, billed as a surety for a secure future of the child of the deceased insured, would enable the beneficiary to receive 100 per cent sum assured immediately. In addition, the company would continue to operate the unit account until maturity of the policy, Mr Rajender Sud, Senior Vice-President-Agency (West and South), told a press conference here.

All future premiums would be funded to the policy by the company on behalf of the life insured until policy maturity, thereby ensuring that the purpose for which the policy was originally purchased was accomplished. The new product is flexible and tailored according to the needs of the insured, he said.

The Smart Steps ‘Plus’ plan also has an inbuilt feature of family income benefit, which ensures that the child’s recurring needs are taken care of by way of extra yearly payouts (five per cent of the sum assured) on the death of the life insured parents for rest of the policy term. A lump sum payout would also be given in the event of the life-insured diagnosed with any of the 10 dread diseases covered under the policy.

The minimum annual premium allowed in Smart Steps range is Rs 20,000 to Rs 50,000.

More Stories on : Life Insurance | New Products & Services | Children & Parenting | Gujarat

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
‘Higher rupee both problem and opportunity for exporters’

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line