Max New York Life Insurance has brought ‘Platinum Protect’, the newest chronicle of term plan to the fore, and by means of the same, it is increasing product portfolio of risk protection solutions. Max New York Life Insurance happens to be one of the foremost life insurance companies in the realm of India and is attaining laurels increasingly with the passing of each day almost.
It is worthwhile to mention that Max New York Life Insurance, as a result of this term plan, has launched an inimitable aspect of ‘Reduced Insurance Cover’ in the Indian market or the first time. Thanks to the same, it is likely that in longer duration plans of over 20 year policy term, policyholders will be able to take pleasure in continued protection coverage from the 16th year onwards albeit they opted for not to make additional premium payments.
Speaking on the development, Rajesh Sud, CEO and Managing Director, Max New York Life Insurance Company, stated, “India is an underinsured market with low per capita spend on life insurance. People are increasingly becoming aware of the true value of life insurance but need a solution that bridges the gap between their Life’s Economic Value and their propensity to spend on the product. With Platinum Protect, we will not only be able to bring the benefits of life insurance to a larger segment of the market but also ensure adequate protection for them at an affordable price.” The basic purpose of life insurance is protection and Max New York Life Insurance has led the market in the protection space having the highest sum assured multiple in the industry. Our strategy targets moving this further”, added Mr. Sud.
Max New York Life Insurance Company Ltd. is basically a joint venture between Max India Ltd., one of India’s leading multi-business corporations and New York Life International, the international arm of New York Life, a Fortune 100 company.
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