Mumbai: Private life insurer, Max New York
Life Insurance on Monday said it has restructured rpt has
restructured its ULIP portfolio by launching four new
The new products launched are-- Max New York Life Fortune
Builder, Max New York Life Unit Builder Plus, Smart Invest
Pension Super and Smart Xpress.
All the four products are compliant to IRDA`s regulation
of capping of charge to reduce the reduction in net yield, the
company said in a statement.
"In our new ULIP products, we have paid emphasis on
the protection element and also introduced guaranteed loyalty
bonuses which clearly indicates on life insurance being viewed
as a long-term protection product," Max New York Life
Corporate Vice President and Head Product Management, Manik
The exclusion of mortality and morbidity charges from
the cap has ensured that there will be no compromise on life
cover, which is of critical importance in a country like India
where 96 per cent of the households are vulnerable, he said.
Max New York Life is a joint venture between Max India
and New York Life, a Fortune 100 company.