A Winning Plan From Every Direction

The journey of life is full of wonderful dreams. To make them come true, your need for protection, investment, and financial liquidity keeps changing at different stages of life. The birth of a child will require you to increase your insurance cover; a marriage in the family will require additional money. Similarly on a promotion you may want to increase your investments, to create a large kitty for future expenses. Usually you would require multiple financial products to meet all your needs and would have to actively manage them. However with the Life Maker™ Gold- A Unit Linked Investment Plan you can meet all your financial needs, without the tedium of managing multiple products.

How does the Life Maker™ Gold Plan work?

In the Life Maker™ Gold plan; the premiums you pay are invested in funds offered by us. You will determine the appropriate ratio of investments into these funds in consultation with your Agent Advisor. These funds are invested in assets 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.

In turn, we issue units, which represent the value of your policy i.e. you can "see" the value of your policy on any day by multiplying the number of your units by the value of units on that day. The value of these units is called the Net Asset Value (or NAV) and is normally published in newspapers on a daily basis. The NAV is based on the market value of the underlying investments in that fund i.e. equities, company bonds, government securities, etc.

Level insurance cover: In the unfortunate event of your death anytime during the tenor of the plan, we will pay to your nominees the higher of the Sum Assured or the Fund Value in the policy.

Change your Sum Assured

The plan allows you to increase the sum assured as per required value. The same can be done by increasing the Annual Target Premium. However the Sum Assured can’t be decreased.

Choice of four attractive fund options

You have the option of investing your money in any ratio in four attractive funds. The choice of your funds is derived from your investor risk profile which looks at factors such as age, ability to invest & risk appetite.

Types of Funds

  Secure Fund - invests 100% in high quality fixed income securities issued by the Government of India, or companies or other bodies corporate with a high credit rating. This fund will have low level of risk and return.

  Conservative Fund - invests largely in high quality fixed income securities issued by the Government of India or companies or other bodies corporate with a high credit rating. This fund will have a low to moderate level of risk and return.

  Balanced Fund - invests in both high quality fixed income securities issued by the Government of India or companies or other bodies corporate with high credit rating, as well as in high quality Indian equity stocks. This fund will have a moderate level of risk and return.

  Growth Fund - invests largely in high quality Indian equity stocks. A small portion of the fund may be invested in high quality fixed income securities issued by the Government of India or companies or other bodies corporate with high credit rating. This fund will have a moderate to high level of risk and return.

You can make partial or full withdrawals to meet your monetary needs. Partial withdrawals can be made after 3 policy years. Please note due to level insurance cover, your sum assured may reduce on partial withdrawal.

After first three policy years, you may fully surrender your policy at any time by giving us prior written notice, and we will pay the surrender value [fund value-surrender charges (if any)] to you. Please note that your policy will not acquire a surrender value unless you have paid premiums (ATP or Top Up) equivalent to at least 3 years ATP in the first 3 policy years.

Switch across funds

We understand your need to adjust your investment portfolio based on factors like changing interest rates or the volatility in the equities market or a change in your life stage. The Life Maker™ Gold plan allows you to switch between funds in any ratio. The switch allows you to change your risk return profile of your existing investments. We will not charge on first 6 switches in every policy year. Any subsequent switch will attract a charge of Rs. 500 per transaction. The switch option we offer is one of the most powerful and flexible ones in the market where money from one fund can be switched to multiple funds in a single switch.

Re-direct future premium

Life Maker™ Gold allows you to re-direct your future premiums. You can invest your future premiums in a fund different from your earlier fund, or to multiple funds in a ratio different from your earlier ratio (provided the amount paid into each fund meets our minimum in-force requirement). Re-directing helps you change the risk - return profile of your future investments. Every policy year, we offer you 3 free redirections.

Invest more through fund top-ups to match your cash flows
You can invest extra money in your plan through occasional top-ups at anytime post the policy commencement dates. However, cumulative top ups will be allowed up to only 25% of the cumulative Annual Target Premium. Top ups won’t effect any change in Sum Assured.

Add-on Riders

Customize your policy benefits by adding Personal Accident Benefit or Dread Disease riders to your policy at inception or on any policy anniversary.

Personal Accident Benefit (PAB) rider - if you opt for this rider, we will pay the rider sum assured on accidental death or accidental disability.

Dread Disease (DD) rider - if you opt for this rider, we will pay the rider sum assured on contracting any of the ten diseases covered under this rider.

Please refer to the Riders' brochure for details.

In the last policy year, you can get free additional units, known as persistency units. These are equal to 2.5% of your annual target premium multiplied by the policy term, but not exceeding one annual target premium.

• All premiums (including all top-ups) paid are eligible for a tax rebate under Section 80C of the Income Tax Act of 1961
• All maturity benefits are tax free under Section 10 (10D) of the Income Tax Act of 1961.
• All switches are tax-free

Handpicked, highly trained agent advisors.

With a team of certified, and highly trained agent advisors, we are fully equipped to help you meet your unique financial goals.

Global life insurance experience

Benefit from our access to over 160 years of global life insurance experience. New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States and one of the largest life insurers in the world.