New Delhi, May 07: Max New York Life today announced the maiden cash bonus to its Whole Life policyholders, who joined before February 6, 2002. "We are proud to declare cash bonus for our policyholders and it is our reconfirmation of the success of our strategy," the CEO of Max New York Life, Anuroop Tony Singh said in a statement here today.

The bonus would be paid on the policy anniversary date in 2003-04, it said, adding that the customers had five ways of exercising their option.
Customers could either leave the bonus to accumulate with the company and earn interest, buy paid up additions to raise the death benefit of the base policy, use it to offset against future payable premiums, take the amount in cash or else buy a one-year additional term cover, it said.
The quantum of bonus to be paid would vary with the age of the policyholder, the company, a joint venture between Max India and New York Life, said. Bureau Report