Traditional plan: Low returns, decent death benefit
Will the lure of monthly income work for Max New York Life’s new non-participating money back insurance plan?
Max New York Life Insurance has launched a traditional non-participating money back insurance plan, called ‘Guaranteed Monthly Income Plan’ which promises regular income flow. Consumers can choose either a 6-year or 11-year policy term (PT), depending on their financial goals. It comes with a low guarantee of less than 2%pa even after including the guaranteed terminal benefit (GTB) of 200% of premium for the 11-year variant. The 6-year PT option pays 150% of premium as GTB. The brochure does give ...
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