Max New York Life Insurance today launched a retirement solution – Smart Invest Pension Plus plan- a unit linked pension plan.
It offers accelerated accumulation option through limited pay and no allocation charges from the first year onwards and all subsequent years. It gives up to 300 per cent of the premium as maturity bonus depending upon the term of the Plan.
Debashis Sarkar, Senior Director and CMO, Max New York Life Insurance Company said, “With increasing life expectancy, we believe that retirement planning is of utmost importance for Indian consumers.”
This pension plan offers a choice of limited pay option to customers.
In addition, a customer can pay his five term of a minimum premium of Rs 50,000 and plan for retirement even at a later stage of their lives. This feature is also beneficial for younger people who could channelise their lumpsum income such as bonus towards retirement planning. The product offers free switching and re-direction.
