Max new york Immediate Annuity plan:-
feature:-
The Immediate Annuity Plan from Max New York Life Insurance Co Ltd is a powerful plan to meet your post retirement financial needs, ensuring you a complete peace of mind in the golden years of your life
How does the plan work
How does the plan work
- You will give us a lump-sum amount called the Purchase Price. These may be either the accumulations you have made in our deferred annuity plans, or may be accumulations you have made with any other life insurance / pension company, or your accumulated savings.
- We will offer you a choice between different annuity options we offer as on that date. Currently we offer the following annuity options:
- Annuity for Life
- Annuity Certain plus Life thereafter
- Annuity for Life with return of your Purchase Price
- Depending upon your age, the annuity option chosen by you and the frequency of payment that you decide, we will determine your annuity as per our prevalent annuity rates. These annuity rates will be as approved by Insurance Regulatory & Development Authority (IRDA).
- We will pay you this amount at the end of the frequency period you have chosen i.e. in case of a monthly annuity, the annuity will be paid to you at the end of every month.
key benifit:-
- The tax benefits of this plan
All annuities are subject to tax under section 80CCC(2) of the Indian Income Tax Act 1961. - Other Benefits
- No medical examination required.
- There are no policy exclusions.
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