Max Vijay from Max New York Life Insurance Co
Max New York Life Insurance Co. Ltd has revolutionized the way insurance is procured, sold and serviced through its new and innovative business concept called – ‘MAX VIJAY’. It not only fulfils the customers’ primary need of protection, but also facilitates long-term savings. It has been designed specifically for the underserved segment of the society to meet the unique challenges of unpredictability in life and their income flow. A unique technology driven distribution and service model ensures reach of Max Vijay to the customers even in the remotest of places.
Max Vijay available in three premium paying options of ‘Rajat’, ‘Swarna’ and ‘Heera’ enables the customer to enter the plan at a minimal initial premium amount of Rs. 1000, Rs. 1500 and Rs. 2500 respectively.
The Sum Assured is guaranteed. The investment returns once credited to the policyholder’s account value are also guaranteed. In case of natural death the claimant receives the guaranteed sum assured and the account value. In case of an accidental death the claimant receives the account value and double the amount of Sum Assured.
Max Vijay provides customers the flexibility in financial planning by offering a choice to invest any amount (Rs. 10/- Rs. 2500/-), anytime, anywhere.
Accessible – Insurance at the consumers’ doorstep
The distribution approach adopted for this product is designed to make insurance available in the remotest areas of the country. Neither does the product require any financial and medical underwriting nor any supporting documents for age, etc. In terms of documentation, the customer is required to fill a simple one-page form and submit only an ID proof to own the policy.
The policy will not lapse as long as there is sufficient value in the policy account to meet the charges.
Robust backend support through internationally renowned partner
The company has tied-up with IBM to provide end-to-end technology backbone for fulfillment.