Max New York Life Insurance introduces SMART Assure, a unit-linked insurance plan. A Unit Linked Life Insurance Plan positioned to provide higher returns on higher investments.

Max New York Life Insurance today, introduced SMART Assure, a unit-linked insurance plan positioned to provide higher returns on higher investments. The plan fulfils the customer's primary need of protection, along with an opportunity for long-term wealth creation. The customer value proposition of SMART Assure- is further strengthened with its unique features of efficiency, affordability and flexibility in handling the consumer's complex financial needs.   

Up to 100% Allocation - SMART Assure, offers the customer a choice of allocating up to 100% of premium paid beyond specified premium bracket. As the premium amount goes up, the allocation charges keep decreasing with no allocation charges levied on premiums upward of   Rs. 3 lakhs.  This strengthens the value proposition of the plan incentivising the customer to move to higher investments and get better returns.

Loyalty units on maturity- The plan allocates guaranteed Persistency Units to the customer's Fund Value at maturity. The persistency units will be equal to a percentage of fund value at maturity.which increases with the term of the plan and thus promoting long-term saving behaviour.

Increasing premium Option - SMART Assure, offers an increasing premium option under which the customer has the choice to increase the annual premium by 5% of the initial premium on each policy anniversary and accordingly the sum assured also increases @ 5% per annum without any additional underwriting. This feature not only takes care of the inflation and future value of money but also enables the customer achieve a much larger fund value through a minimal increase in the premium amount each year.

Wide Coverage- SMART Assure, caters to wide customer segment with the entry age ranging from as low as 91 days to as high as 75 years and the maximum age at maturity of 85 years which makes it an ideal proposition for Senior Citizens seeking insurance coverage along with investments.. The customer has the flexibility to choose any policy term between 10 years to 30 years with regular payment terms. The minimum premium which can be paid under this plan iis Rs. 20,000/-.

Dynamic Fund Allocation- SMART Assure, strikes the right balance between risk and return with respect to years remaining for year to maturity of the policy. When the policy is in its early stages, the fund would be more risk prone and the nature of the allocation changes to more secure options as the policy approaches maturity. All this happens automatically for the customers who opt for this feature and frees them from doing any manual switching of funds. Even more the asset allocation gets automatically rebalanced at every policy anniversary to ensure the asset allocation is in the right proportion at all times.

New Dynamic Opportunities Fund Introduction - The Company has introduced a new fund called the Dynamic Opportunities fund through which the funds will be allocated according to the market movements allowing the funds to be exposed 100% in equity when the markets are high and visa versa and thus offers stability in investments with an opportunity to harness market upsides. The investor now has a choice of shuffling his funds according to his risk appetite with six investment fund options to choose from.

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