Max New York Life launches ‘SMART Xpress’

Font Size

Print

Feedback

Email

Discuss

Related Articles

Wipro Technologies creates job opportunities in At...SVP Group launches Gulmohur Residency in Indrapura...Rolls-Royce Ghost debuts in India3rd International GCA India Conference for PR & co...

Pune: In the backdrop of the prevailing volatility in capital markets, Max New York Life Insurance Co. ltd, one of India’s leading life insurance companies launched the “Max New York Life SMART Xpress”, a flexible Unit Linked insurance Plan (ULIP) which offers secure returns even during market volatility. SMART Xpress has been specially designed to address the consumers’ need of capital preservation and growth.

Addressing a press conference at the launch of Max New York Life SMART Xpress Mr. Rajender Sud, Director & Head - Agency Distribution said, “Max New York Life has designed this product keeping in mind the financial goals and current risk perceptions of the majority of Indian consumers as a great protection cum wealth creation option that assures safety and guaranteed returns on investment. The policy is aligned along financial goals and the risk appetite of an individual and provides the necessary solution to address the objective of Capital preservation and growth.”

“With this offering we have also introduced the Money Market Fund which is a first of its kind offering by a life insurer and works on the fundamentals of low risk along with moderate returns primarily through a portfolio of treasury bills of short duration. We as a company believe that, it may not be efficient to lock customer savings into a long term guaranteed proposition when the belief is that the customer sentiment of seeking guarantees is based on current market situation, which is temporary in nature. He further added.

The product offers 8 fund options including the Money Market Fund, which is a new introduction and a first of its kind fund to be introduced by a life insurance company to ensure capital preservation. One of the key features of the Money Market fund is to guarantee protection of NAV regardless of the date of entry, switches & redirection and no exit barrier. The customer can ensure steady and safe returns on his investments in this fund during volatile markets as it guarantees NAV higher than the previous day and a lock in at the highest NAV thus ensuring that the NAV of the fund never falls. Investments from this fund can also be switched to any other funds of his choice depending on his risk appetite.