Hi, I am told by some friends that all the insurance polocies/plans of AMSURE (promoted by Amway and Max New York) have distinct advantage over other policies in the market. Can you give your inputs & compare with similar plans by competitive companies on some of their (Amsure's) policies, e.g. - 1. Max New York Life Guaranteed Monthly Income Plan – 11 year policy, 2. Max New York Life Gain Plus

Asked By: Girish
On: 19th Jul 2012 11:23 AM
Answered Within: 2 Days

MIC Expert

Answer

Amsure is the Corporate Agent for Max Life Insurance Co Ltd in India. This means that Amsure will only distribute life insurance prdoucts of Max Life Insurance Company.

However, the product remains the same as it is when distributed by branches of Max Life Insurance, brokers, or individual agents. There is no change in the product structure, benefits and features.

The guaranteed monthly income plan of Max can be compared to MetLife Monthly Income Plan. This is somewhat a new category being introduced by life insurance companies where the policy pays back every month.

On the other hand, Max Life Gain Plus is a with-bonus plan and has some good features. For example the death benefit is

100% of the Sum Assured + Sum Assured of paid-up additions, if any (if policy is in force for less than 5 years)
200% of the Sum Assured + Sum Assured of paid-up additions, if any (if policy is in force for 5 years or more)

Answered By: MIC Expert
On: 21st Jul 2012 12:12 PM

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