Customer perception towards max newyork life insurance

TABLE OF CONTENTS

S. No. Chapter Name Page No.

1. Introduction of the topic

2. Company Profile

3. Objectives of the Market Survey Report

4. Literature Review

5. Research Methodology

6. Data Analysis & Interpretation

7. Findings of the study

8. Conclusion

9. Suggestions

10. Limitations

11. Bibliography

12. Annexure - Questionnaire

customer perception towards Max Newyork Life Insurance MALAY SRIVASTAVA

INTRODUCTION


INTRODUCTION

This market survey report is based on the survey, which has been done in the Moradabad city.

The main objective of the survey is to find out and to analyze the customer perception

towards Max Newyork Life Insurance. The data used for the analysis is primary data and

collected through the use of questionnaire. The respondents were the customer of Life

Insurance. The sample size of my research is 50, and the respondents are customers, a

questionnaire has been used to make this market survey report. The data have been tabulated

and shown in the form of a pie chart. Then it is interpreted and analyzed and further the

conclusion of the study is drawn. And I will also ask some questions to customers through

which I am avail to conduct this market survey report. I believe that this market survey report

will help to the reader for better understanding of the attitude of the customer.

ABOUT INSURANCE

“Insurance is a contract between two parties whereby one party called insurer undertakes in

exchange for a fixed sum called premiums, to pay the other party called insured a fixed

amount of money on the happening of a certain event.”

According to Patterson – “Insurance is an agreement between two parties under which one

party undertakes specified future risk of another party and compensates the loss from that

risk on payment of some consideration known as premium payable by the later.”

Insurance may be described as a social device to reduce or eliminate risk of life and property,

under the plan of insurance, a large number of people associate themselves by sharing risk,

attached to individual.

With the help pf insurance, large number of people exposed to a similar risk makes

contributions to a common fund out of which the losses suffered by the unfortunate few, due

to accidental events, are made good.


Insurance is a tool by which losses of a small number are compensated out of funds collected

from plenteous. Gradually as competition increased benefits given by industry to its

customers increased by leaps and bounds. Insurance is a basic form of risk management

which provides protection against possible loss to life or physical assets. Person who seeks

protection against such loss is termed as insured, and company promises to honor claim, in

case such loss is actually incurred by insured, is termed as Insurer. In order to get insurance,

insured is required to pay to insurance company a certain amount called premium. Premium

is collected by insurance companies which acts as trustee to poll created through

contributions made by persons seeking to protect themselves from common risk. Any loss to

the insured in case of happening of uncertain events is paid out of this poll.

INSURANCE PROVIDES:

● Protection to investors.

● Accumulation of savings.

● Channeling these savings into sectors needing huge long term investment.

FUNCTIONS OF INSURANCE:

● PROVIDE PROTECTION: The primary function of insurance is to provide protection

against future risk, accidents and uncertainty. Insurance cannot check the happening of the

risk, but can certainly provide for the losses of risk. Insurance is actually a protection against

economic loss, by sharing the risk with others.

● COLLECTIVE BEARING OF RISK: Insurance is an instrument to share the financial

loss of few among many others. Insurance is mean by which few losses are shared among

larger number of people. All the insured contribute the premiums towards a fund and out of

which the persons exposed to a particular risk paid.


● MEASUREMENT OF RISK: Insurance determines the probable volume of risk by

evaluating various factors that give rise to risk. Risk is a basis for determining the premium

rates also.

● PROVIDE CERTAINTY: Insurance is a device, which helps to change from uncertainty

to certainty. Insurance is a device whereby the uncertain risks may be made more certain.

● SMALL CAPITAL TO COVER LARGER RISKS: Insurance relieves the businessman

from security investments, by paying small amount of premium against larger risks and

uncertainty.

● CONTRIBUTES TOWARDS THE DEVELOPMENT OF INDUSTRIES: Insurance

provides development opportunity to those larger industries having more risks in their setting

up. Even the financial institutions may be prepared to give credit to sick industrial units

which have insured their assets including plant and machinery.

● MEANS OF SAVINGS AND INVESTMENT: Insurance serves as savings and

investment, insurance is a compulsory way of savings and it restricts the unnecessary

expenses by the insured’s. for the purpose of availing income tax exemptions also, people

invest in insurance.

● SOURCE OF EARNING FOREIGN EXCHANGE: Insurance is an international

business. The country can earn foreign exchange by way of issue of marine insurance

policies and various ways.

● RISK FREE TRADE: Insurance promotes exports insurance, which makes the foreign

trade free with the help of different types of policies under marine insurance cover.

IMPORTANCE OF THE LIFE INSURANCE:-

● PROTECTION AGAINST UNTIMELY DEATH: - Life insurance provides protection

to the dependents of the life insured and the family of the assured in case of his untimely


death. The dependents or family members get a fixed sum of money in case of death of the

assured.

● SAVING FOR OLD AGE: - After retirement the earning capacity of a person reduces.

Life insurance enables a person to enjoy peace of mind and a sense of security in his/her old

age.

● PROMOTION OF SAVINGS: - Life insurance encourages people to save money

compulsoBSLIy. When life policy is taken, the assured is to pay premiums regularly to keep

the policy in force and he cannot get back the premiums only surrender value can be returned

to him. In case of surrender of policy, the policyholder gets the surrendered value only after

the expiry of duration of the policy.

● INITIATES INVESTMENTS: - Life insurance corporation encourages and mobilizes the

public savings and channelizes the same in various investments for the economic

development of the country. Life insurance is an important tool for the mobilization and

investment of small savings.

● CREDIT WORTHINESS: - Life insurance policy can be used as a security to raise loans.

It improves the credit worthiness of business.

● SOCIAL SECURITY: - Life insurance is important for the society as a whole also. Life

insurance enables a person to provide for education and marriage of children and for

construction of house. It helps a person to make financial base for future.

● TAX BENEFIT: - Under the income tax act, premium paid is allowed as a deduction from

the total income under section 80C.

STAGES IN POLICY INSUANCE :

1. PROPOSAL: A Proposal stage is the first stage before the policy is issued at COPS.

At this stage, the application form is received by COPS, but it is pending for issuance

due to further clarifications required from the customer.


2. LOGIN: A Proposal which is complete i.e., duly filled with all necessary documents

attached to it and accepted by the branch cops is called a login.

3. REJECT: An Application gets rejected at the branch cops level due to necessary

details not filled in the form or necessary documents not submitted is a Reject. It is

then sent back to the advisor for completion.

4. ISSUANCE: Issuance means a policy that is issued to the customer central cops.

5. DECLINE STATUS: When a customer refuses to take a policy post login but before

issuance is called a Decline.

6. CANCELLATION: When the Cheque given by the customer bounces, it amounts to

the cancellation of the policy.

7. LAPSE: A Policy for which the customer fails to pay subsequent premiums is a

lapsed policy.

8. FREE LOOK: Post issuance of the policy, the policyholder has the option to turn

down the policy within 15 days from the date of issuance. This period of 15 days is

called Free look period.

9. SURRENDER: When a customer wants to discontinue with the policy.

Top Ten Insurance Company

Below is a list of the Top 10 insurance companies in India and their contact details zone wise.

Insurance Company Products and Services Contact DetailsLIC Life Insurance Corporation of India

Insurance PoliciesJeevan AnuragUnit PlansSamridhi PlusPension Plus Special PlansJeevan Madhur Jeevan Mangal Group Schemes

East Zone: LIC ofIndia,P&GS Unit JeevanPrakash,Calcutta MetroDO-I 16 ChittaranjanAvenue Kolkata WestBengal 700072033-23346688West Zone: JeevanPrakash GHB Complex,2nd Floor,Opp.to Rupal Park,


http://business.mapsofindia.com/india-insurance/lic.html

http://business.mapsofindia.com/india-insurance/lic.html

Behind Ankur Bus stop,Naranpura, Ahmedabad Gujarat 380013North Zone: JeevanPrakash Post Box No102 25 Kasturba GandhiMarg New Delhi DELHI 110001 011-23762681079-25502150South Zone: LICBuilding 102 Anna SalaiPost Box No 324Chennai TAMIL NADU600002044-28612871

ICICI Prudential Life Insurance Co Ltd

Education insurance plans Smartkid New Unit-Linked Regular PremiumSmart Kid Regular PremiumSavings (all ULIP)Life Time SuperPremier Life GoldLife Time PlusPremium guarantee plansInvest Shield Cash Backprotection plans (All Traditional plans)Life GuardSave 'n' ProtectHome AssureHealth care plansCrisis CoverDiabetes Care/ Diabetes Care PlusCancer Care

West Zone: A-32/B-32,3rd Floor,Corporate house,Judges Bungalow Road,Above Hotel Honest,Off. S G Highway, Sarkhej-Bodakdev,Ahmedabad - 380015GujaratSouth Zone: Plot No. 11,1st & 2nd Floor,K.R. Buildings,Lattice Bridge Road,Above Pizza Corner,Adyar, Chennai - 600020Tamilnadu9840877766North Zone: ICICIPrudential LifeInsurance Co. Ltd.,1 DLF Centre,Ground Floor, Opp Park Hotel,Sansad Marg,Connaught Place,New Delhi - 110001.Delhi9818177766East Zone: Plot No. C-653,2nd Floor,Epari Plaza,Janpath,Unit-III,Bhubaneshwar - 751001600222020


http://business.mapsofindia.com/banks-in-india/icici-bank-ltd.html

http://business.mapsofindia.com/banks-in-india/icici-bank-ltd.html

Bajaj Allianz Life Insurance Co Ltd

Insurance PoliciesiGain IIIMax AdvantageHealth care plans Star Package Personal GuardSilver HealthTravel InsuranceStudent Elite PlanBBSLIliant Minds

East Zone: # 338,Calcutta Food Bazar, 2nd Floor, A Block, Lake Town,Kolkata, 700055+91-33-32575382North Zone: C-32,1st Floor & 2nd Floor,Connaught Place,New Delhi - 110 002,011 - 41490500

SBI Life Insurance Co Ltd

Individual PlansSBI Life - Unit Plus SuperSBI Life - Smart Wealth AssureGroup Plans Group Micro Insurance PlansGroup Loan Protection Products

West Zone: SBI lifeinsurance company ltd,1st floor akshar arcadeopp memnagar fire station ,memnagar , ahmedaba 380014079 -66103333North Zone: SBI life insurance company ltd, 116, hargovindenclave,opp karkardooma community centre011-40758700East Zone: SBI LIFE INSURANCEcompany ltd, jeevandeep building groundfloor,1 middleton street033-22882323 / 22South Zone: SBI LIFE INSURANCE company ltd, 2 nd floor,96/04, south end road,basavangudi080 26575460

Max Newyork Life Insurance Insurance Co Ltd

Protection PlansMax Newyork Life Insurance Insurance Money Multiplier PlanReliance Special Term PlanChild PlanReliance Child PlanSavings & Investment PlansMax Newyork Life Insurance Insurance Pay Five Plan

West Zone: 201, Viva Complex,42, Parimal Co-oprative Housing Society,Perimal Cross RoadAhmedabadGujarat,380009079-30075191South Zone: No.2940/E-5,GG Arcade,3rd floor,Service Road, West Of Chord,Opp Maruthi Mandir,Vijay Nagar,BangaloreKarnataka,56004


http://business.mapsofindia.com/insurance/reliance-life-insurance.html



http://business.mapsofindia.com/insurance/sbi-life-insurance.html

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http://business.mapsofindia.com/insurance/bajaj-allianz-insurance-india.html

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Max Newyork Life Insurance Insurance Classic Plan - Limited PremiumMax Newyork Life Insurance Insurance Highest NAV Advantage PlanMax Newyork Life Insurance Insurance Money Multiplier PlanNorth Zone: Level - II, C 4-5,Agrawal Cyber Plaza,Netaji Subhash Place,DelhiDelhi,110092 011-32229807

0080-39826566East Zone: 206, A.P.C,Bose Road, 2nd floor,Shyambazar (Opp-CESC Regional Office),Kolkata West Bengal,700004033-30610530

HDFC Standard Life Insurance Co Ltd

Protection PlansHDFC Premium Guarantee PlanSavings and Investment PlansHDFC SL ProGrowth FlexiClassicAssure Insurance Plan HDFC SL ProGrowth Maximiser

North Zone: HDFCSLIC, B-3/6,Ground FloorAsaf Ali Road, Delhi - 110002011-43591300South Zone: 2nd floor,Block 2 A, Esquire Centre,No. 9, M. G. road, Bangalore- 560 001 "080-42791234West Zone: HDFC Standard LifeInsurance Co. Ltd.,2nd Floor,'Shivalik Plaza', Opp Amam, IIM Road,Ahmedabad - 380 015079 - 66101500East Zone: 30SA/2, Block-B,New Alipore, Kolkata-700053033-66125406

Max Newyork Life Insurance Insurance Co Ltd

Health and Wellness SolutionsBSLI Saral Health PlanBSLI Bachat MoneyRetirement SolutionsBSLI Dream Life PlanBSLI Immediate income PlanRural SolutionsMax Newyork Life Insurance Insurance Bima Dhan SanchayMax Newyork Life Insurance Insurance Bima Kavach Yojana

North Zone: 1St Floor,Sco-14, Sector - Ii ,Central Market, Punjabi Bagh,, New Delhi, Delhi 110026 Delhi 011-45062639 / 40 / 37South Zone: Site No 70 , 2nd floor, Grace Towers,Above BMW Showroom, Old miller Road, Cunningham Road(Cr) Bangalore 560046 Karnataka 080 - 65398701 / 25 East Zone: 1St Floor, 110,Bose Pukur Para, , Kolkata- South, Kolkata 700042 West Bengal 033 - 66331915/16


http://business.mapsofindia.com/insurance/birla-sun-life.html



http://business.mapsofindia.com/insurance/standard-life-insurance-india.html

http://business.mapsofindia.com/insurance/standard-life-insurance-india.html

West Zone: Pancharatna Upper Ground Floor,C. G. Road, Opp White House,Ahmedabad , Ahmedabad 380009Gujarat 079-26409741

Max New York Life Insurance Co Ltd

Life Plans20 year Endowment Max New York Life Platinum Protect Life Gain™ Plus 25Growth PlansMax New York Life Flexi FortuneMax New York Life Shubh InvestHealth PlansLifeLine MediCash™ PlusLifeLine Safety Net™

West Zone: 3rd Floor,Unit No.301 to 307, Aashth Mangal, Shahi Bagh,Near Rajasthan Hospital, Opposite Resham Bai FertilityHospital, Ahmedabad-380004GujaratTel: 079-40215433North Zone: 2 & 3 rd Floor,C-6,Local Shopping Centre,Vasant Vihar, New Delhi, 110057DelhiTel: 011-46086900South Zone: VimalChambers, No.70 & 70/1 4th Floor M.G.Road, Bangalore- 560001KarnatakaTel: 080-66965700East Zone: La Vida Mall, 2nd Floor,CK-III, Sector-II, Nr. Tank No.9, Salt Lake City,Kolkata-700 091Tel: 033-44079303 /04/05/01. 033-44079313-01

Kotak Mahindra Old Mutual Life Insurance Ltd

Protection PlansKotak eternal Life PlansSaving and Investment PlansKotak ace investment PlanKotak surakshit JeevanChild PlansKotak headstart Child Assure

West Zone: KotakMahindra Old MutualLife Insurance Ltd.Unit nos. 901 & 902, 9th floor,Wing A & B, Godrej Coliseum,Lokmanya Pan Bazar, Behind Evrard Nagar,Sion (E), Mumbai - 400 022 Tel : +91 22 6621 5999East Zone: 190b Satin Sen SaraniKankurgachi, Kolkata, West Bengal 700054033 23648610North Zone: Lower Ground Floor, 974/1 Dakha Plaza,


http://business.mapsofindia.com/insurance/om-kotak-mahindra-insurance-india.html



http://business.mapsofindia.com/insurance/max-life-insurance-india.html

http://business.mapsofindia.com/insurance/max-life-insurance-india.html

Arya Samaj Road, Karol Bagh,New Delhi-110005, Beadonpura, Karol Bagh,New DelhiSouth Zone: RELCONPLAZA,FIRST FLOOR PATTOM,Kollam Road, PattomTrivandrum, Kerala 6950040471 6615600

Aviva Life Insurance Company India Ltd

Protection PlansAviva LifeShield PlatinumAviva LifeShield AdvantageFund Management Rural PlansAviva Anmol SurakshaAviva Grameen SurakshaSavings Aviva Dhan VriddhiAviva LifeBond Advantage

North Zone: 2nd Floor,Prakashdeep Bldg.,Tolstoy Marg,New DelhiDelhi I, Delhi110001Phone: 011-23462548East Zone: 45 Bhupen Bose Avenue,3rd flr, ShyambazarKolkataKolkata 4, West Bengal 700004Phone: 025304610South Zone: Shubharam Complex4th Floor,No 144 M G Road ,Bangalore 560001Bangalore, KarnatakaPhone: 080 -25580777West Zone: Mordern Centre,A Wing, 2nd Floor, Sane Guruji Marg,Mahalaxmi (E), Mumbai -11Mumbai I, Maharashtra Phone: 02266207777


http://business.mapsofindia.com/india-insurance/aviva-life.html

http://business.mapsofindia.com/india-insurance/aviva-life.html

IRDA

In 1999, the insurance regulatory and development authority (IRDA) was constituted as an

autonomous body to regulate and develop the insurance industry. The IRDA was

incorporated as a statutory body in ApBSLI, 2000.The key objectives of the IRDA include

promotion of competition so as to enhance customer satisfaction through customer choice

and lower premiums, while ensuring the financial security of the insurance market. The

IRDA opened up the market in August 2000 with the invitation for application for

registrations. Foreign companies were allowed ownership of up to 26%. The authority has

the power to frame regulations under section 114A of the Insurance Act, 1938 and has from

2000 onwards framed various regulations ranging from registration of companies for

carrying on insurance business to protection of policyholder’s interests. IRDA is regulated or

controlled under the chairmanship of SHRI. J. HARI NARAYAN [email protected].

ROLE OF IRDA:

● Protecting the interests of policyholders.

● Establishing guidelines for the operations of insurers, and brokers.

● Specifying the code of conduct, qualifications, and training for insurance intermediaries

and agents,

● Promoting efficiency in the conduct of insurance business.

● Regulating the investment of funds by insurance companies.

● Specifying the percentage of business to be written by insurers in rural sectors.

● Handling disputes between insurers and insurance intermediaries.


mailto:[email protected]

COMPANYPROFILE


COMPANY PROFILE

Max New York Life Insurance Company Ltd. is a joint venture between New York Life, a

Fortune 100 company and Max India Limited, one of India's leading multi-business

corporations. The company has positioned itself on the quality platform. In line with its

vision to be the most admired life insurance company in India, it has developed a strong

corporate governance model based on the core values of excellence, honesty, knowledge,

caring, integrity and teamwork. The strategy is to establish itself as a trusted life insurance

specialist through a quality approach to business.

In line with its values of financial responsibility, Max New York Life has adopted prudent

financial practices to ensure safety of policyholder's funds. The Company's paid up capital is

Rs. 907.4 crore, which is more than the norm laid down by IRDA.

Max New York Life has identified individual agents as its primary channel of distribution.

The Company places a lot of emphasis on its selection process, which comprises four stages -

screening, psychometric test, career seminar and final interview. The agent advisors are

trained in-house to ensure optimal control on quality of training.

Max New York Life invests significantly in its training programme and each agent is trained

for 152 hours as opposed to the mandatory 100 hours stipulated by the IRDA before

beginning to sell in the marketplace. Training is a continuous process for agents at Max New

York Life and ensures development of skills and knowledge through a structured programme

spread over 500 hours in two years. This focus on continuous quality training has resulted in


the company having amongst the highest agent pass rate in IRDA examinations and the

agents have the highest productivity among private life insurers.

337 agent advisors have qualified for the Million Dollar Round Table (MDRT) membership

in 2007. MDRT is an exclusive congregation of the world’s top selling insurance agents and

is internationally recognized as the standard of excellence in the life insurance business.

Having set a best in class agency distribution model in place, the company is spearheading a

major thrust into additional distribution channels to further grow its business. The company is

using a five-pronged strategy to pursue alternative channels of distribution. These include the

franchisee model, rural business, direct sales force involving group insurance and

telemarketing opportunities, bancassurance and corporate alliances.

Max New York Life offers a suite of flexible products. It now has 43 life insurance products

and 8 riders that can be customized to over 800 combinations enabling customers to choose

the policy that best fits their need.

VISION

To become one of the most admired life insurance company of India.

MISSION

Become one of the top quartile life insurance companies in India

Be a national player

Be the brand of first choice

Be the employer of choice

Become principal of choice for agents


VALUES

Knowledge:

Knowledge leads to expertise; and our expertise is in helping people protect themselves.

Perfectly combining global expertise with local knowledge, we are India's life insurance

specialist. Max New York Life believes that for knowledge to be of value it must be focused,

current, tested and shared.

Caring:

Max New York Life is redefining the life insurance paradigm by focusing on customers first.

The service process is responsive, personalized, humane and empathetic. Every individual

who represents the company is for us our brand champion.

Honesty:

Honesty is the heart of the life insurance business. It is all about trust. Transparency, integrity

and dependability form the cornerstones of the Max New York Life experience. The

company ensures that everyone who represents the brand carries a promise : we care — in

word as well as deed.

Excellence:

Excellence at Max New York Life implies the ability to perform at a consistently high level.

Focused on the value of continuous improvement in people, processes and the organization,

the company strives for the highest standards of quality in every aspect of its business.


ACHEIVEMENTS

Max New York Life is the first life insurance company in India to be awarded the IS0

9001:2000 certification.

Max New York Life was among the top 25 companies to work with in India, according to

2003 Business World magazine, "Great Workplaces In India", Max New York Life was

ranked at the 20th position. This survey is the local version of the "Great Places To Work"

survey carried out every year in 22 countries.

Been among top five most respected private life insurance companies in India according to a

2004 and 2006 Business World survey.

Have truly built an enviable sales force. With 345 agents becoming members of the MDRT in

2006, Max New York Life has moved up to 21st rank in MDRT global list.

PromotersMax New York Life Insurance Company Ltd. is a joint venture between New York Life, a

Fortune 100 company and Max India Limited, one of India's leading multi-business

corporations. Since its inception in 2000, the organization has progressed and positioned

itself on the quality platform. In line with its vision to be the most admired life insurance

company in India, it has developed a strong corporate governance model based on the core


values of excellence, honesty, knowledge, caring, integrity and teamwork. The strategy is to

establish itself as a trusted life insurance service provider through a quality approach to

business.

MANAGEMENT

BOARD OF DIRECTORS:

MANAGEMENT TEAM:

MAX NEW YORK LIFE INSURANCE BRND AAMBASSADOR

Amitabh Bachchan to endorse Max New York Life's Max Vijay

Life insurance company Max New York Life has appointed veteran actor Amitabh Bachchan

as the ambassador for its product, Max Vijay, that was launched towards the end of 2008.

Max Vijay is a product designed to meet the investment and insurance needs of the investor,

particularly the underprivileged strata of society.


Analjit SinghChairman, Max India Limited

Gary R. BennettManaging Director and CEO,Max New York Life Insurance Anuroop 'Tony' Singh Vice Chairman,Max New York Life Insurance

Gary Bennett Managing Director and CEO, Max New York Life

Sunil Sharma Chief Operating Officer and Executive Director

Anil Mehta Director, Group Business

Sunil Kakar Director and Chief Financial Officer

John Poole Chief Actuary

The policy offers stable investment returns, with insurance and

savings at low entry level premiums of Rs 1,000, Rs 1,500 and Rs

2,500. Investors have the convenience to pay amounts between Rs

10-2,500 per day.

The policy does not lapse as long as there is sufficient value in the

policy account to cover charges, even if no subsequent premiums are

paid.

On choosing Bachchan as the ambassador, Anisha Motwani, executive vice-president,

marketing and chief marketing officer, new markets, Max New York Life Insurance, tells

afaqs!, "This is a low ticket product and we launched the product with the large objective of

providing financial independence to the masses. When the objective is as large, one needs a

celebrity ambassador who has a stature that could reach out to a large mass of the

population."

Motwani says that the product was launched in the retail channel earlier

with below-the-line activities and a more aggressive campaign will be

launched in mid-September.

The launch will be in a phased manner, beginning from Uttar Pradesh,

where the business model of the product will be tested.

"We are targeting people in the annual income bracket of Rs 60,000-

1,00,000.


PRODUCT PROFILE

INSURANCE PLANSLIFE PLANS:

Five Yr Renewable and Convertible™ Plan (Non - Par)

UIN 104N001V01

Life with its fascinating moments also has its share of uncertainties and planning ahead is extremely important to face all these uncertainties that may arise from time to time. That's the reason you need a protection plan, which would serve your protection needs and safeguard your family from any financial insecurity at times of crisis or at the unfortunate event of your demise.

Max New York Life's Five Year Renewable and Convertible Term Insurance (Non-Participating) plan not only provide you with a low cost insurance cover during its tenure of five years, it also helps you plan in advance for various future needs and your family's financial security, should anything unfortunate happen to you. Offering a guaranteed Death Benefit, this plan is particularly useful as a short-term protection plan. An important feature of this policy is that it allows the insured to convert the policy to a regular policy during the tenure of the policy.

Eligibility Criteria Eligibility CriteriaAge at Entry 20 to 60 yearsMaximum Age at Maturity 65 yearsTerm 5, 10, 15, 20 or 25 years or to Age 60 yearsSum Assured Rs. 2,50,000 to Rs. 5 CrorePremium Payment Options Annual, Semi-annual, Quarterly, Monthly

BenefitsOn death of life insured: In case of the unfortunate death of the life insured during the term of the plan, an amount equal to the Sum assured is paid to the beneficiary.

Tax benefits:You are entitled to the following tax benefits under Income Tax Act 1961:

Your premiums are eligible for deduction u/s 80C up to Rs.1,50,000/- every year. Your DD rider premiums are eligible for an additional deduction u/s 80D up to

Rs.15,000/- every year.

Your claim amounts (from death) are eligible for tax exemption u/s 10(10D).Unique Features in This Policy:


This plan can be renewed every five years and is convertible to any permanent plan at any time during the tenure of the plan.

Five Year Renewable and Convertible Term Insurance (Non-Participating) provides you with a low cost insurance cover during its tenure of five years. It is also convertible any time into any permanent life insurance policy from MNYL, so that you are able to take advantage of increasing your savings when your responsibilities increase viz. on marriage, or on child birth

Dread Disease Rider Personal Accident Benefit Rider Age 20 – 50 Years (depending upon Term)

BenefitsIncase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured.

Tenors Available:Pick-a-Term: Minimum 10 YearsMaximum 40 Years

Expiry Age 60 YearsMinimum Face Amount Rs 1 lac

Maximum Face Amount The lower of base face amount or Rs. 10 lacs

Benefit Features

Gives an additional benefit upon diagnosis of any of the 10 diseases – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, Coma, Heart Valve Replacement/Repair

Calculation of Modal Premiums for Annual,Semi Annual, Quarterly, Monthly Modes

For each frequency, multiply by the appropriate factor:

Annual 1.000Semi Annual 0.520Quarterly 0.265Monthly 0.090


Level Term Policy (Non - Par/Non – Con)

In the exciting journey of life, there will be uncertainties, and there will be various occasions

when you have to play or assume added responsibilities being the head of the family. The

much-anticipated arrival of a new member in the family, the purchase of your dream house,

the wonderful event of your marriage, your children's higher education or their marriage may

all be described as planned life events, but they bring their own share of uncertainties. It is

important to be financially secured and prepared to meet these uncertainties and make your

family feel fully protected, should something unfortunate happen to you.

Max New York Life's Level Term (Non Participating) Policy is a plan that covers your life at

a very low cost and reduces the consequent hardship your family may have to bear in the

unfortunate event of your death. Incase of the unfortunate death of the policy holder during

the term of the plan, an amount equal to the sum assured is paid to the nominee.

"For more details on risk factors, terms and conditions please read sales brochure carefully

before concluding a sale".

Eligibility Criteria Eligibility CriteriaAge at Entry 18 years to 55 yearsMaximum Age at Maturity 60 YearsTerm 5,10,15,20 or 25 years or to Age 60 YearsSum Assured Rs. 2,50,000 to Rs. 5 CrorePremium Payment Options Annual, Semi-annual, Quarterly, Monthly, SingleBenefitsOn death of life insured: In case of the unfortunate death of the life insured during the term of the plan, an amount equal to the Sum assured is paid to the beneficiary.

Tax benefits:You are entitled to the following tax benefits under Income Tax Act 1961:

Your premiums are eligible for deduction u/s 80C up to Rs.1,50,000/- every year. Your DD rider premiums are eligible for an additional deduction u/s 80D up to

Rs.15,000/- every year.


Your claim amounts (from death) are eligible for tax exemption u/s 10(10D).In the exciting journey of your life, there will be uncertainties. Additionally there may be

times and occasions when you have to assume additional responsibilities as the head of the

family. Max New York Life's Level Term (Non Participating) Policy insures your life at a

very low cost and reduces any hardship your family may have to bear in the unfortunate event

of your death.

Dread Disease Rider Personal Accident Benefit Rider Waiver of Premium

Age 20 – 50 Years (depending upon Term)

BenefitsIncase insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured.

Tenors Available: Pick-a-Term: Minimum 10 YearsMaximum 40 Years


Maximum Face Amount The lower of base face amount or Rs. 10 Lacs

Benefit Features

Gives an additional benefit upon diagnosis of any of the ten diseases viz – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, COMA, Heart Valve Replacement/Repair

Calculation of Modal Premiums for Annual, Semi Annual, Quarterly, Monthly Modes

For each frequency, multiply by theappropriate factor:



Whole Life Participating PlanWith an insurance cover till age 100, Whole Life Participating Plan is designed to provide

you a lifetime of security. The good times that you and your family lead should last a

lifetime. However one cannot avoid unpleasant surprises and misfortunes in life. The Whole

Life Plan provides you with the comfort that your near and dear ones will continue to live

their lives in comfort without financial worries even when you are not around.

The Whole Life Plan provides an insurance cover that is guaranteed for life. The policy also

builds cash value, which you can use to fund any unforeseen needs. In addition, the policy is

also eligible for bonuses. Max New York Life’s savings plans are designed to provide the

customer the dual benefits of protection along with the potentially higher returns. This plan

also allows you to purchase additional benefits in the form of bonuses that will be paid on

maturity of the Base policy or in the unfortunate event of the death of the Life Insured.

Additionally, you can also continue to invest more funds without having to provide any

further evidence of insurability.



Eligibility Criteria

Criteria EligibilityEntry age 91 days to 70 yearsMaximum Maturity Age 100 yearsPremium Payment Term RegularMinimum Sum Assured Rs. 100,000Maximum Sum Assured Rs. 5 Crore BenefitsMaturity BenefitWe will pay an amount equal to Sum Assured along with accrued bonus (if any)


Death Benefit We will pay an amount equal to Sum Assured along with accrued bonus (if any)

If death occurs before life insured reaches age 10 , the company will refund all the premiums paid along with interest

Option to Participate in Progressive BonusesIt allows you to top up your premiums to purchase additional Sum Assured towards your existing policy. It also generates further bonuses.

Bonus Options Paid in Cash Premium Offsett

Paid up AdditionsNon-Forfeiture OptionsIn case you are unable to pay your premiums, your policy will lapse and we will utilize your cash value to buy you insurance coverage in one of the following ways: Reduced Paid Up: A lower Sum Assured for the remaining term of your policyExtended Term Insurance: The same Sum Assured is for part of the remaining term of your policyIn case , you do not want either of the above, you can choose to take the cash value by cheque

Key Benefits : Insurance cover up to age 100

Option to Participate in Progressive Bonuses

Tax benefits on premiums and maturity proceeds

Additional protection through riders

Bonus declared every year from 3rd policy year onwards

Dread Disease Rider Personal Accident Benefit Rider Term Rider Waiver of Premium

(WOP) Guaranteed Insurability Option (GIO) Rider Term R&C Rider Payor Rider

Age 20 – 50 Years (depending upon Term)

BenefitsIncase Insured is diagnosed with any of the below mentioned diseases, an additional benefit will be paid to the insured.

Tenors Available: Pick-a-Term: Minimum 10 YearsMaximum 40 Years



Maximum Face Amount The lower of base face amount or Rs. 10 Lacs

Benefit Features

Gives an additional benefit upon diagnosis of any of the ten diseases viz – Heart Attack, Cancer, Stroke, CABG, Multiple Sclerosis, Kidney Failure, Major Organ Transplant, Paralysis, COMA, Heart Valve Replacement/Repair

Calculation of Modal Premiums for Annual, Semi Annual, Quarterly , Monthly Modes

For each frequency, multiply by theappropriate factor:


Children Plans:

Children's Endowment to 18 (Par) PlanLife has innumerable surprises stored for us. Parenthood is wonderful and it is one such

stage, when you experience various emotions you never thought you had. But parenthood

also brings its own set of apprehensions and worries. What will your child grow up to be in

the future? Will his/her future be as secure as you want it to be? Or more importantly what

can you do to make sure his/her future is hassle-free and secure? So, planning ahead for your

child’s future needs such as higher education is extremely important and ensuring that you

have the ability to fulfill those needs is even more critical.

Max New York Life presents Children's Endowment Participating Insurance to age 18 with

an option to buy a permanent life insurance policy without medical underwriting (irrespective

of his/her health at that time). This policy which is especially designed to enable you to


provide for higher education of your child and take care of your child’s future needs in case

of spiraling costs.




Eligibility CriteriaAge at Entry 91 days to 13 yearsMaturity Age 18 yearsMinimum Face Amount Rs. 100,000/-Maximum Face Amount Rs. 5,000,000/-Banding Structure Higher Face Amounts offer lower Premiums. These are the various Bands. There are different Premium tables for each band. Please refer to the relevant Premium table to find the exact premium

Band 1: Rs. 1,00,000 - Rs. 2,49,999 Band 2: Rs. 2,50,000 - Rs. 4,99,999 Band 3: Rs. 500,000 and above

Premium Regular BenefitsMaturity Benefit: Face Amount plus Accrued bonus (if any) on life insured's survival to maturity

Death Benefit (Life Insured): Refund of Premiums plus Interests plus Accrue bonus (if any)

On Surrender of Policy: Cash value as built in the policy will be paid at the time of surrender of policy. There is no cash value till 3 years premiums have been paid in full. Bonus Options: Bonus is not declared for the first 3 years of the policy.

At the time of Bonus declaration the following Bonus Option is available: Paid in Cash - Bonus declared by the company will be paid out to the policy holder

Non-Forfeiture Options: Reduced Paid Up: A lower Sum Assured for the remaining term of your policy. In case you do not want the above, you can choose to take cash value by cheque.Unique Features in This Policy: Upon your child attaining the age of 18, he/she will have the option to buy a permanent life insurance policy without medical underwriting (irrespective of his/her health at that time).On maturity of the policy, the benefits payable under the policy shall automatically vest with your child – so that your child receives the benefits.


Children's Endowment Participating Insurance to age 18 with whole life option

enables you to provide for higher education of your child.

On death of life insured: Refund of premiums plus interest

On Maturity: Sum Assured

On Surrender of Policy: Surrender value

Bonus: From 3rd policy year, we will declare bonuses every year

Payor Rider

Age 20 - 45 Years (Whole Life Participating)20 - 55 Years (All other plans)

Benefits

A variant of the WOP rider, this rider covers the life of the proposer of the policy. A wonderful add-on to children products, this will ensure the policy continues even if the proposer were to be disabled or is no longer there to pay the premiums. The rider covers all the disability benefits under the WOP along with the Death. “Total Disability” or Totally Disabled” refers to the proposer becoming permanently and totally disabled as a result of injury or sickness and thereby totally incapable of engaging in any gainful activity or carry out any work, occupation, or profession to earn or obtain any wages, compensation, remuneration or profit. This is ideally suited for Children’s Endowment product issued by Max New York Life Insurance.

Individual/Group Individual

Expiry Age 55 Years (Whole Life Participating)60 Years (All other plans)

Face Amount Range Linked to base and relevant rider premiums subject to underwriting

Premium Payment Term Level

Calculation of Modal Premiums Semi Annual, Quarterly and Monthly Modes

Multiply by the appropriate factor:



Children's Endowment to 24 (Par) Plan

Parenthood is wonderful. However, this is a phase in life when you are expected to fulfill

various responsibilities, which grows as your child gets older. It’s important that you plan in

advance to meet your child’s future needs and be financially prepared. It’s important that you

plan in advance to meet your child’s future needs and be financially prepared.

Max New York Life’s Children's Endowment Participating Insurance to age 24 provides an

option to buy a permanent life insurance policy without medical underwriting (irrespective of

his/her health at that time). This policy enables you to provide for various events in your

child’s life such as a grand wedding of your child. This excellent plan is a participating plan,

which is also eligible for bonuses and Max New York Life may declare these bonuses from

time to time and from the third policy year. An important feature of this plan is that the entire

sum assured is paid out on maturity and the plan automatically vests when the child turns 18.




Criteria EligibilityAge at Entry 91 days to 13 yearsMaturity Age 24Minimum Face Amount Rs. 100,000/-Maximum Face Amount Rs. 5,000,000/-Banding Structure Higher Face Amounts offer lower Premiums. These are the various Bands. There are different Premium tables for each band. Please refer to the relevant Premium table to find the exact premium

Band 1: Rs. 1,00,000 - Rs. 2,49,999Band 2: Rs. 2,50,000 - Rs. 4,99,999 Band 3: Rs. 500,000 and above

Premium RegularBenefitsMaturity Benefit: Face Amount plus Accrued bonus (if any) on life insured's survival to maturity


Death Benefit (Life Insured): Refund of Premiums plus Interests plus Accrue bonus (if any)

On Surrender of Policy: Cash value as built in the policy will be paid at the time of surrender of policy. There is no cash value till 3 years premiums have been paid in full. Bonus Options: Bonus is not declared for the first 3 years of the policy

.

At the time of Bonus declaration the following Bonus Option is available: Paid in Cash – Bonus declared by the company will be paid out to the policy holder

Non-Forfeiture Options: Reduced Paid Up: A lower Sum Assured for the remaining term of your policy. In

case you do not want the above, you can choose to take cash value by cheque.Unique Features in This Policy: Upon your child attaining the age of 24, he/she will have the option to buy a permanent life insurance policy without medical underwriting (irrespective of his/her health at that time). On maturity of the policy, the benefits payable under the policy shall automatically vest with your child – so that your child receives the benefits.Key Benefits:

On death of life insured: Refund of premiums plus interest.

On Maturity: Sum Assured.

On Surrender of Policy: Surrender value.

Bonus: From 3rd policy year, we will declare bonuses every year

Tax Benefit

Payor Rider

Age 20 - 45 Years (Whole Life Participating)20 - 55 Years (All other plans)

BenefitsA variant of the WOP rider, this rider covers the life of the proposer of the policy. A wonderful add-on to children products, this will ensure the policy continues even if the proposer were to be disabled or is no longer there to pay the premiums. The rider covers all the disability benefits under the WOP along with the Death. “Total Disability” or Totally Disabled” refers to the proposer becoming permanently and totally disabled as a result of injury or sickness and thereby totally incapable of engaging in any gainful activity or carry out any work, occupation,


or profession to earn or obtain any wages, compensation, remuneration or profit. This is ideally suited for Children’s Endowment product issued by Max New York Life Insurance.

Individual/Group Individual

Expiry Age 55 Years (Whole Life Participating)60 Years (All other plans)

Face Amount Range Linked to base and relevant rider premiums subject to underwriting

Premium Payment Term Level

Calculation of Modal Premiums Semi Annual, Quarterly and Monthly Modes

Multiply by the appropriate factor:


GROWTH PLAN

Stepping Stones™ (Par) Plan

Max New York Life’s Stepping Stones™ is a smart way to plan your children’s education

and their future irrespective of whether you are there or not. It provides you with regular

money when it is required. This policy also builds cash value, which you can use during your

lifetime to fund any unforeseen needs by surrendering accumulated PUAs. This policy also

entitles you to make partial withdrawals for various unplanned expenses in the future.

SMART Steps™ Plan

Introducing Max New York Life’s regular premium unit linked life insurance children’s plan

– SMART Steps™, which will help you plan for your child's future in a SMART way and

takes your worries away. This plan offers the required financial protection for your loved

ones if you are not alive and provides an unmatched investment opportunity by way of well


managed investment funds. This policy also entitles you to make partial withdrawals for

various unplanned expenses in the future.

SMART Steps ™ Plus

A regular premium unit linked life insurance plan, Max New York Life’s SMART Steps™

Plus will help you plan for your child's higher education, marriage, and financial security.

This plan offers no-compromise 360 degree protection to your children even if you are not

alive and provides an unmatched investment opportunity by way of well managed investment

funds. This policy also entitles you to make partial withdrawals for various unplanned

expenses in the future.

SMART Steps ™ Single Premium Plan

Max New York Life’s SMART Steps™ Single Premium policy will help you plan for your

child's future in a SMART and organized manner. Apart from offering 360 degree protection

to your child if you are not alive, this plan also provides an unmatched investment

opportunity by way of well managed investment funds. This policy also entitles you to make

partial withdrawals for various unplanned expenses in the future.

Investment Plans:

Life Maker™ Premium Investment Plan

The latest Life Maker™ Premium Investment Plan gives you a lot of choices - especially

when you are looking for Great life style, Big Home, your own well established Business and

top of all - Protection for your family. Our Unit linked Life Insurance plan can be the

financial cornerstone for your objectives. Max New York Life Insurance provides you a


powerful investment-cum-insurance plan where you can direct your investments in the

customized unit linked funds such as equities, money market instruments, investment grade

corporate bonds, and government securities. These funds offer a wide range of returns basis

market returns. You can choose to invest your premiums in one or more of these funds, basis

your risk taking ability.

Life Maker™ Platinum - a Unit Linked Investment Plan

With the Life Maker™ Platinum - a Unit Linked Investment Plan, you can meet all your

financial needs, without the tedium of managing multiple products. In this plan, you can

direct your investments in the customized unit linked funds such as equities, money market

instruments, investment grade corporate bonds, and government securities. These funds offer

a wide range of returns basis market returns. You can also choose to invest your premiums in

one or more of these funds, basis your risk taking ability.

Life Maker™ Gold Plan

This plan enables you to choose an attractive investment fund, enjoy free loyalty units and tax

benefits on premiums and maturity value. Life Maker™ Gold Plan also provides you

insurance cover, in which, your nominee will get the Sum Assured plus the Fund Value to

your nominee(s), in case of unfortunate event of your death. Our Plan also offers you the

flexible investment feature, where you can choose one out of four attractive funds options and

also change your risk return profile of your existing investments by switching across funds

with our high customization feature.

Life Invest™ Plan


This policy will provides you comprehensive protection from 3 Ds i.e. Death, Disease and

Disability. Apart from loyalty units and tax benefits, the maturity feature of this policy will

also pay you the fund value. Flexible Investment with choice of four attractive fund options,

lump sum investment in your plans through top ups as per your cash flow, increasing death

benefits, flexibility to choose premium payment terms are few of the benefits you can enjoy

through this policy.

SMART Assure Plan

Our smart assure plan also enables you to make partial withdrawals at the time of unexpected

expenses. The switching feature of this policy provides you the facility to change the

investment pattern by moving from one fund to other fund(s) amongst the funds offered

under this contract

Retirement Plans:

Easy Life™ Retirement (Par) Plan

Catering to the diverse set of needs of various customers looking for retirement planning,

Max New York Life offers some splendid retirement plans, which would suit their budget

and lifestyle. Max New York Life's Easy Life™ Retirement Plan Regular Premium/Single

Premium (Participating) Policy is designed to help you save money for your retirement. It

also provides you with an opportunity to take home a regular retirement income (i.e.

pension).

SMART Invest™ Pension Plan


Offering competitive returns to secure the golden years of your life, Max New York Life's

SMART Invest™ Pension Plan is a comprehensive unit linked pension plan to meet your post

retirement financial needs, ensuring you complete peace of mind. One-third of the corpus can

be commuted at vesting age the amount commuted are eligible for tax exemption u/s 10A.

HEALTH PLANS

LifeLine MediCash™ PlanMax New York Life's Lifeline-MediCash™ health Insurance plan provides you support by

giving you hospital cash benefit, whenever you are hospitalized. Through this plan you will

get a fixed benefit towards hospitalization, ICU and recuperation (post hospitalization).

Today, the lifestyles of individuals are such that they suffer from great stress on regular basis.

The long hours at the workplace, inadequate or very little exercise, and improper diet

weakens the immune systems to such an extent that people are at an increased risk of

contracting various illnesses. Illnesses such as obesity, heart attacks, and high blood pressure

are quite common these days among young people especially those living in urban areas.

Thus, heath insurance has become more and more a necessity today.

Max New York Life offers various Health Plans have been designed to take into account the

diverse set of needs at times of an individual's ill health. They insure you against various

illnesses and guarantee financial security should you ever require any kind of treatment. Max

New York Life's Lifeline-MediCash™ health Insurance plan provides you support by giving

you hospital cash benefit, whenever you are hospitalized. Through this plan you will get a

fixed benefit towards hospitalization, ICU and recuperation (post hospitalization).





Criteria EligibilityMinimum / Maximum Age At Entry 18 years to 55 years (Age At Last Birthday)Policy Term 10 yearsMaximum Age at Maturity 65 yearsPremium Guarantee 5 years Premium Table (Sample*) Units 3

Age (yrs) Male Female20304050

4824 5082 61058652

4179 4638 6288 8562

Premium Payment Frequency Half Yearly and YearlyReinstatement after Lapse Allowed only till 180 days from Lapse Date

Premium Limits Minimum: Rs. 2,500 (Yearly Mode)and Rs. 1,300 (Half Yearly Mode)

Waiting Period 90 days from policy commencement apart from hospitalization due to accidents

Benefits Number Of Units Bought 1 2 3 4 5

Daily Hospital Cash 1000 2000 3000 4000 5000Daily ICU Cash 2000 4000 6000 8000 10000Recuperating Cash (Lump-Sum) 3000 6000 9000 12000 15000

Annual Limit (Days) (Aggregated for all the benefits)

50 days of Hospitalization

Policy Term Limit (Days) (Aggregated for all the benefits

250 days of hospitalization

LifeLine-MediCash™ Plus Plan

Presenting Lifeline - MediCash™ Plus health Insurance plans from MNYL that provide you

support by giving you hospital cash benefit, whenever you are hospitalized. Through this plan

you will get a fixed benefit towards hospitalization, ICU and recuperation (post


hospitalization). And the surgical expenses of a fixed Lump-sum amount will be paid under

LifeLine – MediCash™ Plus for more than 400 listed surgeries that you may undergo.

In your long and interesting journey of life, it's always better to be prepared to face any

unforeseen incidents that may take place in one's life. People normally insure their home,

child's education, car, and even their retirement. However, many a times they forget to insure

their health. It's a proven fact that illnesses strike without warning, which again can affect

one's finances. Thus, it's important to have a good health cover that would take into account

the diverse set of needs at times of an individual's ill health. Sound health insurance planning

ensures that you receive direct medical expenses and indirect expenses, as soon as the

situation arises.

Max New York Life health insurance schemes can act as a catalyst in safeguarding your

peace of mind and eliminating all worries about your future treatment expenses. Presenting

Lifeline - MediCash™ Plus health Insurance plans from MNYL that provide you support by

giving you hospital cash benefit, whenever you are hospitalized. Through this plan you will

get a fixed benefit towards hospitalization, ICU and recuperation (post hospitalization). And

the surgical expenses of a fixed Lump-sum amount will be paid under LifeLine –

MediCash™ Plus for more than 400 listed surgeries that you may undergo.




Criteria EligibilityMinimum / Maximum Age At Entry 18 years to 55 years (Age At Last Birthday)Policy Term 10 yearsMaximum Age at Maturity 65 yearsPremium Guarantee 5 years


Premium Table (Sample*) Units 3Age (yrs) Male Female

20304050

5886 6429 842413194

5328 6078 8169 11922

Premium Payment Frequency Half Yearly and YearlyReinstatement after Lapse Allowed only till 180 days from Lapse Date

Premium Limits Minimum: Rs. 2,500 (Yearly Mode)and Rs. 1,300 (Half Yearly Mode)

Waiting Period 90 days from policy commencement apart from hospitalization due to accidents

Benefits Number Of Units Bought 1 2 3 4 5Daily Hospital Cash 1000 2000 3000 4000 5000Daily ICU Cash 2000 4000 6000 8000 10000Recuperating Cash (Lump-Sum) 3000 6000 9000 12000 15000

Annual Limit (Days) 50 days of HospitalizationPolicy Term Limit (Days) 250 days of Hospitalization

Surgical Cash ( Lump-Sum Upto Rs)50,000 100000 150000 200000 250,000

Minor (10%) 5,000 10,000 15,000 20,000 25,000Intermediate (15%) 7,500 15,000 22,500 30,000 37,500Major (35 %) 17,500 35,000 52,500 70,000 87,500Supra major (100%) 50,000 100,000 150,000 200,000 250,000

Others Upto10,000

Upto 10,000

Upto 10,000

Upto10,000

Upto10,000

Cashless hospitalization available in over 4000+ network hospitals across the

country . Fixed daily hospitalization benefit available irrespective of amount of actual

billing.

Benefits are Payable in addition to any other health insurance cover that you may

have with us or any other insurer.

The premiums are guaranteed for five years from the effective date. After five years,

the Company may revise the premium rates based upon the actual review of the

claims experience subject to prior approval of IRDA.

Guaranteed Long-Term coverage for 10 years subject to payment of premium made

by you.


Premium discount incase policy is claim-free for first 5 years.

Tax benefit on the premium paid upto Rs.15, 000 under section 80 D of the Income

Tax Act.

LifeLine-Wellness™ Plan

Max New York Life's LifeLine-Wellness™ is a health plan, which would provide you 360-

degree benefit in terms of long tenure of coverage, coverage for 10 critical illnesses, and

permissible tax benefit under an Income Tax Act.

The key to enjoying a health life consist of healthy or nutritious food, regular exercise, and

personal care. Due to the change in lifestyles today, Individuals are prone to stress, and

various forms of health problems or illnesses. Everyone aims to lead a long a healthy life and

this has become possible with the emergence of innumerable modern medical facilities and

technologies that effectively treat almost all the diseases contracted by individuals. Today,

there are many health insurance providers too to ease the tensions of people undergoing

various treatments for illnesses.

Max New York Life offers an array of health insurance plans especially designed to meet

your financial needs at times of health problems. Max New York Life's LifeLine-Wellness™

is a health plan, which would provide you 360-degree benefit in terms of long tenure of

coverage, coverage for 10 critical illnesses, permissible tax benefit under an Income Tax Act.




Criteria EligibilityAge At entry 18 years to 60 yearsOption for policy term 10, 15 or 20 years Maximum age at maturity 75 years


Premium Guarantee5 Years i.e subject to the revision with IRDA approval. Premium is renewed every 5 years through the term of your plan

Premium Limits Minimum: Rs. 2,500 (Yearly Mode) and Rs. 1,300 (Half Yearly Mode)

Waiting Period 180 days from policy commencement

Reinstatement after Lapse Allowed only till 6 months based on declaration of good health

Waiting Period after Reinstatement 90 days from policy revival date

Scale of Benefits Coverage Choice Life Line - Wellness™ & Wellness Plus™ PlansNumber of Units 1 2 3 4 5 6 7 8 9 10Sum Assured (in lacs) 2 4 6 8 10 12 14 16 18 20

Example: If you take 5 units of wellness you have bought yourself a sum assured of 10 lacs

as per the table above.

List of Covered Critical Illness Conditions under LifeLine- Wellness™ Plan are given below:

Cancer

Coma

Kidney failure

Multiple sclerosis

Heart attack

Paralysis / paraplegia

Stroke

Major organ transplant

Coronary artery bypass surgery

Heart valve surgery

Benefits under LifeLine- Wellness™ Plan You can avail benefits on the happening of any of the above events and fulfilling the following three conditions:

Confirmed by a registered medical practitioner, including a relevant specialist acceptable to the company (the cost of which shall be borne by the policyholder)


Provided the life insured has survived for at least 28 (Twenty eight) days after the happening of the insured event

The life insured filing with the company all the required claim documents within 60 days of the date of the happening of the insured event

The benefit will be payable On the diagnosis of any of the critical illnesses as defined in serial number 1 to 7 in

the list of conditions.

On the actual undergoing of the surgery of any of the critical illnesses as defined in serial number 8 to10 in the list of conditions.

On the payment of the above benefit, the policy shall terminate.

LifeLine-Wellness™ Plus Plan

Max New York Life's LifeLine-Wellness™ Plus health plan provides a wonderful benefit

system in terms of long tenure of coverage, coverage for 38 critical illnesses and tax benefit.

All of us aim for a long and illness-free life. However, as human beings we are prone to

various illnesses and may contract various diseases. Though there are innumerable medical

facilities and technologies available today to cure almost every illness, the cost attached to it

quite high. These are the times you may need the assistance of a health insurance plan to

manage these unforeseen situations and expenses. Illnesses strike without prior warning and

that's the reason why you should possess a good health cover, which would insure you

against various illnesses and guarantee financial security should you require any treatment.

The health covers would provide you peace of mind and allow you to focus your time energy

on other important things in life.

Max New York Life's LifeLine-Wellness™ Plus health plan provides a wonderful benefit

system in terms of long tenure of coverage, coverage for 38 critical illnesses and tax benefit.





Criteria EligibilityAge At entry 18 years to 60 yearsOption for policy term 10, 15 or 20 years Maximum age at maturity 75 years

Premium Guarantee5 Years i.e subject to the revision with IRDA approval. Premium is renewed every 5 years through the term of your plan

Premium Limits Minimum: Rs. 2,500 (Yearly Mode) and Rs. 1,300 (Half Yearly Mode)

Waiting Period 180 days from policy commencement

Reinstatement after Lapse Allowed only till 6 months based on declaration of good health

Waiting Period after Reinstatement 90 days from policy revival date Scale of Benefits Coverage Choice Life Line - Wellness Plus™ PlanNumber of Units 1 2 3 4 5 6 7 8 9 10Sum Assured (in lacs) 2 4 6 8 10 12 14 16 18 20

Example: If you take 5 units of Wellness Plus you have bought yourself a sum assured of 10

lacs as per the table above.

List of Covered Critical Illness Conditions under LifeLine- Wellness™ Plan

The list of covered conditions are divided into 3 groupsGroup 1 Group 2 Group 3Claim - 25% of SA. Claim - 50% of SA. Claim - 100% of Sum Policy Continues with the Policy Continues with the Balance AssuredBalance Sum Assured Sum Assured Policy discontinuedAlzheimer’s Disease Angioplasty and other Invasive Apallic Syndrome Blindness Treatment for Coronary Artery Aplastic Anaemia Deafness Disease Brain Surgery Loss of Speech Benign Brain Tumor Cancer Medullary Cystic Disease Cardiomyopathy Coma Motor Neuron Disease End Stage Lung Disease Coronary Artery By-Muscular Dystrophy Heart Attack pass Surgery

Heart Valve Surgery Kidney Failure Major Burns End- Stage Liver Multiple Sclerosis Disease Multiple Trunk Avulsions of the Loss of Independent Brachial Plexus Existence Necrotizing Fascitiis Loss of Limbs Paralysis or Paraplegia Major Head trauma


Parkinson’s Disease Major Organ Primary Pulmonary Hypertension TransplantPoliomyelitis StrokeSystemic Lupus Erythematosus Surgery of Aorta

Terminal Illness Total Permanent Disability(to Age 65)

Benefits under LifeLine - Wellness™ PlanYou can avail benefits on the happening of any of the above events and fulfilling the following 3 conditions

Confirmed by a registered medical practitioner, including a relevant specialist acceptable to the company (the cost of which shall be borne by the policyholder).

Provided the life insured has survived for at least 28 (Twenty eight) days after the happening of the insured event..

The life insured filing with the company all the required claim documents within 60 days of the date of the happening of the insured event.

A claim with respect to any particular critical illness, if paid, shall not be payable again.

LifeLine-Safety Net™ Plan

Recognizing the need for a complete all round financial protection for you and your family,

Max New York Life Insurance Company offers you a term cum health insurance - LifeLine-

Safety Net™ , the new age insurance covering death, disability, disease and accident under

one single plan.

SOME OF THE OTHER PLANS ARE:

SAVINGS PLANS:

W hole Life Participating

20 Year Endowment (Par)

Endowment to Age 60 (Par)

Life Gain Plus 20 (Par)

Life Gain Plus 25 (Par)

Life Pay Money Back

Life Gain Endowment


Life Partner

RURAL PLANS:

Max Suraksha

Easy Term Policy

STRATEGIC PRODUCTS PLANS:

Bancassurance

Super Saver Bond

Capital Builder

Additional Distribution

Max Mangal

Max Vriksha

Capital Builder

Max Amsure

Future Builder

Family Money Back

Bonus Builder

Business Builder

Secure Returns builders


OBJECTIVESOF THE

MARKET SURVEY REPORT


OBJECTIVES OF THE MARKET SURVEY REPORT

To check the popularity of the company among the people

To study the various products offered by Max Newyork Life Insurance

To study the consumer perception for policies of Max Newyork Life Insurance


LITERATURE REVIEW


LITERATURE REVIEW

(BCG, 2003) Life insurance has become the most widely used means of family financial

security planning. Apart from that, it can help ensures the financial security of family, pay the

support of dependents and meet outstanding financial obligations when the policyholder dies.

Furthermore individuals and families need to become aware of the benefits, issues and

differences in various life insurance plans.

Life insurance programs are an important part of an individual’s financial plan. The

traditional view of life insurance as a commodity – simply underwriting coverage,

differentiated by price and little else evolving as communication, education, and benefit

enhancements are added. Research and trends support the evolution of employer - based life

insurance programmes from merely providing a benefit to beneficiaries at the point of claim

to a programme that is an important, vent critical components to an individual’s overall

financial plan (metlife, 2001).

There are three main types of life insurance polices in actuarial literature (Back, 2000)

including (a) whole life insurance – which provides a death benefit for lifetime (b) term life

insurance - that provide a death benefit for a limited number of years and, (c) environment

life insurance – which is a term life insurance with a saving component. In general terms, life

insurance is a way of dealing with risk and a saving medium for consumers. It also plays

important psychological and social roles. As (Hofstede, 1995) stated, the major function of

life insurance is to protect against financial loss from loss of human life. Besides covering the

risk of death, it also covers the risks of disability, critical illness, etc. Life insurance is

therefore developed on the concept of human life value (Saying, 2003). Human life value

approach focuses on the economic component of human life. Any event affecting an

individual’s earning capacity, retirement or unemployment (Black, 2000). The human life


value concept provides the philosophical basis for thee life insurance, which is a product

deigned to protect the individual against two distinct risks Premature death and

superannuating (Browne, 1993).

J Rajesh C Jampala and B Venkiteswara Rao( insurance marketing ,ApBSLI 2005) in his

article “Sales promotion in Insurance sector (A study of LIC) asserts that, sales promotion

helps in maximizing sales volume and value besides keeping competitors at bay. Sales

promotion is generally broken into 3 major categories such as consumer oriented, trade

oriented and sales force oriented activities.

The consumer oriented promotions are a part of the promotional pull strategy. These

promotions include tax benefits, payment of bonus, provision of accidental benefits and

higher non medical limits. Tax benefit is one of the major weapons in the arsenal of strategies

at the disposal of the corporation to promote sales. The tax saving measure is the greatest

mobilize for business for the corporation. Even the Indian consumer has traditionally looked

at life insurance as an instrument for tax saving, rather than as a prudent investment decision,

or even as a protection device. Another important consumer oriented promotion of LIC is

provision of accident and disability benefits offered to the insured.

Trade promotional measures of LIC include salary saving scheme besides bringing more

occupations under insurance cover, including hazardous occupations. Salary saving scheme is

a very successful trade promotion strategy launched by the corporation to tap business from

the salaried class. LIC makes an arrangement with the employer to deduct the insurance

premium from the employee’s salary and remit it to the corporation. The basic advantage that

the corporation waives 5% additional charge on the scheme, resulting in a great benefit to the

policy holders.


Sales force promotions offer incentives to agents to work with more and more vigor. Sales

force promotion steps of the LIC include commission, gifts, advances for the purchase of the

cars, club memberships etc. LIC has instituted a system of club membership for its agents.

The club membership also enjoys certain privileges such as telephone, provision of

stationery, secretarial allowance, concessional loans etc. However sales promotion alone

cannot achieve the results for the corporation.

(Source: Insurance chronicle, The ICFAI University Press, ApBSLI 2006)

Walter de Oude and Rajagopalan Krishnamurthy (health insurance, Feb 2006) in their

article “The health insurance industry in India & its growing potential” emphasis that

ensuring public health is the principal responsibility lay down by the Indian constitution. The

central government provides about 15% of the funding needs mostly for national health

programs. The family planning and healthcare initiatives of the government have so far

effective in reducing birthrates and improving mortality rates. According to the WHO report

published in 2002 India ranked 13th from the bottom in terms of public spending on health.

Although India’s public spending is low, overall health spending improved due to higher

private spending. Currently less than 15% of the Indian population has some kind of health

insurance cover.

Health insurance remains vastly underdeveloped in India. The state owned companies had

little focus upon the developing line of business on a systematic and profitable basis. The

health portfolio that had a loss ratio of about 78% in 2003 deteriorated to 98% in the

following year.

Anyway the Third Party Agreement (TPA) has however given rights to some tension between

the healthcare providers and the health insurance companies.

(Source: Insurance Chronicle The ICFAI University Press -Feb 2006)


Jack Burke (Insurance marketing, July 2004) in his article “CROSS SELLING”emphasis

that people depend on insurance agents or brokers for the selection of and buying of policies

related to life, health, automobiles etc. but it has been found that most agents or brokers

specialize in selling policies related only to particular field. The statistics showed that the

average American had 7.2 insurance policies i.e., selling more than one policy to their client.

This can be specified as cross selling or multiline marketing. More policies per client mean

lower acquisition cost, higher client retention and greater profit.

(Source: Insurance chronicle The ICFAI University Press, July-2005)

A.Srujan (Insurance marketing July 2004) in his article “Rural insurance market in India”

States that the growth in the insurance sector is higher than the GDP growth rate of the

country. A careful analysis of postal liberalization period suggest that new insurance players

made a good start while the existing one maintained consistent growth level. The two

segments of Indian insurance market i.e., Urban and Rural have their own characteristic

features. The economic growth of the two has not been the same. But there is a fact that most

of the new insurance companies started operating from metros and urban. So they got more

opportunity to cover by several types of insurance. Moreover due to the better educational

status they got awareness about several financial and insurance products. Still there are many

opportunities in rural insurance market.

Gigantic population, growth in income level of rural population, high saving habits etc. are

some plus areas and if we exploit these areas, there in a very good scope for the growth.

Government of India makes steps to improve the conditions of the rural area. Janasree Bima

Yojna, LALGI etc. are some examples. Government made a tie with LIC and made several

scheme for rural people like Siksha Sahayog Yojna, Krishi Shrimik Samajik suraksha Yojna

etc. Anyway it is the opportunities not compulsions which would drive the old and new

players to rural India and the outcome will be steady and secured economic growth.


Rachana Parihar (Insurance marketing, july2004) in her article “Bancassurance: challenges

& opportunities in India” emphasis that Bancassurance symbolizes the convergence of

banking & insurance. The term involves distribution of insurance products through a bank’s

branch work. While the bancassurance has become a successful story in Europe, it is

relatively a new concept in Asia. The motive behind this also varies. For banks, it is a means

of product diversification & a source of additional fee income. Insurance companies see it as

a tool for increasing their market penetration and premium turnover. The customer sees it as a

bonanza in terms of reduced price, high quality products and delivery at the doorsteps. But,

when we think about India there is a huge pool of skilled professionals whether it is banks or

insurance companies who may be easily relocated for any bancassurance venture.

Most large retail banks engender a greater deal of trust in broad segments of consumers,

which they can leverage in selling them personal line insurance Products. Another advantage

banks have over traditional insurance distributors is the lower cost per sales lead made

possible by their sizable and loyal customer base. Banks also enjoy significant brand

awareness within their geographical regions. Banks proficiency in using Technology has

resulted in improvement in transaction processing and customer service. But there are also

some short comings. The most obstacles to success are the poor human resource

management, lack of sales culture within the bank, no involvements by the branch manager,

insufficient product promotions etc.

Anyway to move beyond products oriented cross selling to customer focused crossed buying

requires a holistic approach to bancassurance. Success of a bancassurance requires change in

approach, thinking and work culture on the part of everybody involved.

(Source: The ICFAI University Press, July-2004)


Brian D Baetz (Insurance marketing, July 2003) in his article “Term insurance sales

techniques” States that today people need term insurance more than ever, so one should

learn to be efficient in its sale. Term insurance enables even those people who could

otherwise not be able to afford a sufficient amount of life insurance, to ensure that their

family will not suffer financially should they die.

He says that he point out to clients the importance of adequate coverage to protect their

families. If their income permits, he encourages them to make a coverage permanent life

insurance.

Scott Menta, ChFC,CFP,CLU, a Met Life agent from Elmsford,NYbelieves term insurance

will continue to be sold as a commodity unless the producer can demonstrate that he /she

delivers additional value . He works to help buyers understand the products convertibility

period, and the kinds of permanent products to which their term insurance can be converted.

He believes producers should recommend the appropriate amount of coverage.


RESEARCH METHODOLOGY


RESEARCH METHODOLOGY

Data sources : Primary and Secondary.

Data approaches : Questionnaire.

Sample size : 50

Sample procedure : Convenience sampling.

Research Design : Descriptive.

Research design: Research design is simply the framework or plan for a study, Used guide

in collecting and analyzing data.

For the study: for conducting that research I selected the Descriptive research design.

Descriptive research design: Descriptive research is also called Statistical Research. The

main goal of this type of research is to describe the data and characteristics about what is

being studied. The idea behind this type of research is to study frequencies, averages, and

other statistical calculations. Although this research is highly accurate, it does not gather the

causes behind a situation. Descriptive research is mainly done when a researcher wants to

gain a better understanding of a topic. That is, analysis of the past as opposed to the future.

Descriptive research is the exploration of the existing certain phenomena. The details of the

facts wont be known. The existing phenomena’s facts are not known to the persons.

1. Sampling design:

I. Sample Unit:

Customers of Life insurance.

II. Sample size:

The sample size of the report is 50 in numbers.


Data collection method:

Primary data:

The primary data are those which are collected afresh and for the first time, and thus

happened to be original in character. There are several methods of collecting primary data

particularly in surveys.

For the study: Questionnaire method is used for collecting the data while conducting the

research.

Secondary data:

The secondary data are those which have already been collected by someone and which have

already been passed through the statistical process. Secondary data may either be published

data or un- published data.

For the study: Internet is used for collecting the data while conducting the research.


DATA ANALYSIS&

INTERPRETATION


DATA ANALYSIS & INTERPRETATIONS

Q1. Are you aware about the max New York life insurance policy? a) Yes 38 b) No 12

INTERPRETATION:

This chart shown that out of 50 respondents 76% respondents said that they aware about the

Max New York Life Insurance policy 24% respondents said that they don’t aware about the

Max New York Life Insurance policy.


Q2. Why would you choose max New York life insurance? a) Saving tool 22 b) A tax saving device 12 c) Tool to perfect future 14

INTERPRETATION:

This chart shown that out of 50 respondents 44% respondents said that Saving tool, 24%

respondents said that A tax saving device & 24% respondents said that tool to perfect future

choose Max New York Life Insurance.


Q3. According to you what is the right age to buy insurance? a) After 25 years 28 b) 35 years 2 c) 45 years 1 d) Any time 19

INTERPRETATION:

This chart shown that out of 50 respondents 56% respondents said that after 25 years, 4%

respondents said that 35 years, 2% respondents said that 45 years & 38% respondents said

that any time is the right age to buy insurance.


Q4. Are you satisfied with the service provided by services agent? a) Satisfied 38 b) Not responding 8 c) Not satisfied 4

INTERPRETATION:

This chart shown that out of 50 respondents 76% respondents satisfied, 16% respondents not

responding & 8% respondents not satisfied with the service provided by services agent.


Q5. Which features of Max New York life insurance policy attracted you to buy it? a) Low premium 18 b) large risk cover 8 c) Many back guarantee 10 d) reputation of company 8 e) easy access to agent 6

INTERPRETATION:

This chart shown that out of 50 respondents 36% respondents said that low premium, 16%

respondents said that large risk cover, 20% respondents said that many back guarantee, 16%

respondents said that reputation of company & 12% respondents said that easy access to

agent features of Max New York Life Insurance policy attracted.


Q6. What do you intent to fain from investment? a) Saving & Return 20 b) Security 22 c) Tax benefit 8

INTERPRETATION:

This chart shown that out of 50 respondents 40% respondents said that saving & return, 44%

respondents said that security & 16% respondents said that tax benefit intent to fain from

investment.


Q7. What are the benefits of Max New York Life Insurance Cover?a) Cover future uncertainty 28b) Tax dedication 10c) Future investment 11d) Any other 1

INTERPRETATION:

This chart shown that out of 50 respondents 56% respondents said that cover future

uncertainty, 20% respondents said that tax dedication, 22% respondents said that future

investment & 2% respondents said that any other benefits of Max New York Life Insurance

Cover.


Q8. Which insurance policy you prefer the most? a) LIC 8 b) ICICI 9 c) SBI life insurance 8 d) HDFC 10 e) Max New York life insurance 15

INTERPRETATION:

This chart shown that out of 50 respondents 16% respondents preferred LIC, 18%

respondents preferred ICICI, 16% respondents preferred SBI Life Insurance, 20%

respondents preferred HDFC & 30% respondents preferred Max New York Life Insurance.


Q9. Are you satisfied with different types of money back policies of Max Newyork? a) Yes 38 b) No 10 c) Not clear 2

INTERPRETATION:

This chart shown that out of 50 respondents 76% respondents satisfied with different types of

money back policies of Max Newyork, 20% respondents dissatisfied with different types of

money back policies of Max Newyork & 4% respondents not clear.


Q10. Are you satisfied with extra protection plan or life partner plus policy? a) Life gain endowment 21b) Life pay Money back 12c) Life gain plan 20 13d) Life gain plan 25 4

INTERPRETATION:

This chart shown that out of 50 respondents 42% respondents said that life gain endowment,

24% respondents life pay money back, 26% respondents said that life gain plan 20 & 8%

respondents said that life gain plan 25, satisfied with extra protection plan or life partner plus

policy.


Q11. Where have you invested for tax saving? a) LIC 28 b) NSE 10 c) PPF 8 d) EPF 4

INTERPRETATION:

This chart shown that out of 50 respondents 56% respondents have invested for tax saving in

LIC, 20% respondents have invested for tax saving in NSE, 16% respondents have invested

for tax saving in PPF & 8% respondents have invested for tax saving in EPF.


Q12. How would you buy insurance?a) Customer approached insurance Companies / Agent 46b) Insurance Companies approached customer 4

INTERPRETATION:

This chart shown that out of 50 respondents 92% respondents said that they would buy

insurance through Customer approached insurance Companies / Agent & 8% respondents

said that they would buy Insurance Companies approached customer.


FINDINGS


FINDINGS

o Most of the respondents said that they aware about the Max New York Life

Insurance policy

o Most of the respondents satisfied with the service provided by services agent.

o Most of the respondents said that security

o Most of the respondents said that cover future uncertainty

o Most of the respondents satisfied with different types of money back policies

of Max Newyork

o Most of the respondents said that life gain endowment

o Most of the respondents have invested for tax saving in LIC

o Most of the respondents said that they would buy insurance through Customer

approached insurance Companies / Agent


o

CONCLUSION


CONCLUSION

Future is always uncertain and full of risk. It is not certain that what is going to happen

tomorrow. Therefore a man is always worried about security of property and life. Insurance

is a means of meeting out loss caused by future risks and uncertainties. This project report is

based on the survey-based analysis of the policies of Max Newyork

Life insurance is the necessary and considerable factor for any person for covering the risk of

life and for future security.

The conclusion of this project report is that the policies of Max Newyork are very good and

up to mark on the basis of consumer perception. Policies are providing very good returns and

investment security against the investors money.


SUGGESTIONS


SUGGESTIONS1. Max Newyork Life Insurance should not mislead to customer to provide wrong

information about own policy.

2. Rural area in India lacks this facility so the Max Newyork Life Insurance should

spread their business in rural area also.

3. Max Newyork Life Insurance should make personal contact with customer or own

client for improve brand promotion.

4. Most of person does not know about the full knowledge about insurance policy so the

companies should try to provide the complete knowledge about insurance policy to

the customer.

5. Some more facilities should be provided by the company to attract more customers

like discount and gifts.


LIMITATIONS


LIMITATIONSAlthough the study was carried out with extreme enthusiasm and careful planning there are

several limitations, which handicapped the research viz,

1. Time Constraints: The time stipulated for the project to be completed is less and thus

there are chances that some information might have been left out, however due care is taken

to include all the relevant information needed.

2. Sample size: Due to time constraints the sample size was relatively small and would

definitely have been more representative if I had collected information from more

respondents.

3. Accuracy: It is difficult to know if all the respondents gave accurate information; some

respondents tend to give misleading information.

4. Availability: It was difficult to find respondents as they were busy in their schedule, and

collection of data was very difficult


BIBLIOGRAPHY


BIBLIOGRAPHYBooks:

Kothari, C.R., Research Methodology, New Age Publications.

Malhotra, Naresh K., Marketing Research, An Applied Orientation, Fourth Edition,

Pearson Prentice Hall, 2005, Part II, pp. 71-340.

Chisnall, P.M. (1985). Marketing: A Behavioural Analysis. 2nd edn. McGraw-Hill.

Zeithaml, V.A. and Bitner, M.J. (1996), Services Marketing, international edition,

McGraw Hill, New York, NY and London.

Magazines:

Business Today, November 21, 2007 issue

Business Today, November 21, 2007 issue

Newspapers

Times Of India

Financial Express

Economic Times

WEBLIOGRAPHY

http://en.wikipedia.org/wiki/Life_insurance

http://www.economywatch.com/indianeconomy/india-insurance-sector.html

http://www.economywatch.com/insurance/?page=full

http://www.economywatch.com/world-industries/insurance/

www.maxnewyorklife.com


http://www.economywatch.com/insurance/?page=full

http://www.economywatch.com/indianeconomy/india-insurance-sector.html

http://en.wikipedia.org/wiki/Life_insurance

ANNEXURE


QUESTIONNAIRE

Dear respondent,

I am the student of …………………conducting a market survey report. Kindly spare few minutes to fill up this questionnaire. Any information provided by you will be used for academic purpose only.

Name :Age :Occupation :Mobile No. :Email :

Q1. Are you aware about the max New York life insurance policy? a) Yes b) No

Q2. Why would you choose max New York life insurance? a) Saving tool b) A tax saving device c) Tool to perfect future

Q3. According to you what is the right age to buy insurance? a) After 25 years b) 35 years c) 45 years d) Any time

Q4. Are you satisfied with the service provided by services agent? a) Satisfied b) Not responding c) Not satisfied

Q5. Which features of Max New York life insurance policy attracted you to buy it? a) Low premium b) large risk cover c) Many back guarantee d) reputation of company e) easy access to agent

Q6. What do you intent to fain from investment? a) Saving & Return b) Security c) Tax benefit

Q7. What are the benefits of Max New York life insurance cover?a) Cover future uncertaintyb) Tax dedicationc) Future investment d) Any other

Q8. Which insurance policy you prefer the most? a) LIC b) ICICI c) SBI life insurance d) HDFC e) Max New York life insurance

Q9. Are you satisfied with different types of money back policies of Max Newyork? a) Yes b) No c) Not clear


Q10. Are you satisfied with extra protection plan or life partner plus policy? a) Life gain endowment b) Life pay Money back c) Life gain plan 20d) Life gain plan 25

Q11. Where have you invested for tax saving? a) LIC b) NSE c) PPF d) EPF

Q12. How would you buy insurance?a) Customer approached insurance Companies / Agent b) Insurance Companies approached customer


Customer perception towards max newyork life insurance

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