Max New York Life launches 'Secure Dreams' Plan

By SiliconIndia   |   Thursday, October 29, 2009   |    1 Comments
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Hyderabad: Insurance firm Max New York Life Insurance has unveiled the Secure Dreams Plan, which provides an alternative investment option for those who do not want to bear risk pertaining to the inherent volatile nature of the stock market. "Secure Dreams has been specially designed as a hallmark of guarantee and safety to address the consumers' need for capital preservation and growth as well as provide transparency," said Manik Nangia, Vice President and Head Product Management at Max New York Life. Secure Dreams is built on the Universal Life platform of Max New York Life, reports PTI. Universal Life is a life insurance plan where premiums are deposited into a fund and charges for insurance and other expenses are deducted from these funds. "Secure Dreams keeps in mind the current risk perceptions of the majority of Indian consumers. It is a great protection-cum-wealth creation option that assures safety and guaranteed returns on investment. With this offering, we are now the only life insurers to introduce Universal Life policies in India," Manik said. Secure Dreams offers the customers a guaranteed return of at least 3.5 percent per annum ensuring an increase in their account value irrespective of market volatilities. The return is credited to the account value on monthly basis. "For the first three months from the date of launch, we are providing the customers with a minimum guaranteed interest of 6.5 percent," she added.
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