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30-04-2017
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Max New York Life introduces College Plan
Max New York Life introduces College Plan a guaranteed money back child plan to help parents create a corpus and meet the fast increasing cost of higher education of their children. The plan provides peace of mind as it ensures a guaranteed pay out when the child reaches 18 years of age.

The plan also provides an assured amount every year till the child attains 21 years of age.

College Plan – Features and Benefits:

Guaranteed Returns: The Max New York Life College Plan provides a guaranteed returns pegged at 120% of sum assured. It is an ideal product for those who do not want to take any risk while saving for their child′s higher education, as it is a traditional money back plan.

Timely Money Back: The plan offers guaranteed money back aligned towards your child′s college education. The plan ensures that the premium payment term is completed during the school days and money backs start at the age of 18, 19, 20 and 21 when it is needed the most for higher education. Not only are the payouts made in the college going years , the payouts are made in a manner which is reflective of the real experience of the customer. As the expenses are the highest during the first and the last year of college hence 40% of the Sum Assured in year 18 and 21 while in the middle years of 19 and 20 20% of the Sum Assured is given.

Reversionary And Terminal Bonus: The product is bundled with dual bonuses – Reversionary Bonus and Terminal Bonus. Guaranteed additional terminal bonus is paid if the policy has been in force for 10 years. The option of revisionary bonus ensures that the corpus is not used for other purposes during the tenure of the policy

  
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