A year that will
th
re-define your 5 Category
Presenting…
Traditional, non participating,
Money Back Insurance
Plan
The Virtues of Monthly Income…
Expenses are easier to plan when one knows the monthly
income coming in…
Children’s school fee &
overhead activity expenses
Monthly household
expenses, including EMIs
for the house, car,
others…
Medical expenses
Festival season:
Gifts and other
expenses
Among all your responsibilities, securing your
family’s future tops the chart
India is a country of 120 Cr people
 Over 112 Cr people do not have any
form of Insurance
 Out of those insured, 3 out of 4
are under protected
Source: IMRB Consumer U&A Research 2010
Guarantee your family a Monthly Income, and provide them
the financial security they deserve
What would you want…?
 96% of Indian working population
does not have a formal, mandated
provision for pension
Source:
http://www.rediff.com/news/2008/jan/09survey.htm
A luxurious
retired life?
Or old age, spent working?
We all wish to fulfill our responsibilities towards our parents in a better
way… we can do that by gifting them a comfortable lifestyle during their
golden years
Receive a regular, guaranteed Monthly Income during
Retirement!
Inflation increases your expenses but
not your Income!
India’s inflation rate
amongst the
steepest in the world
In last 12 months alone,
the fuel prices have
gone up by almost 25%
Food inflation grew
by 11.6% from 200809 to 2010-11
Fight inflation better by planning your
monthly income well…
Source: http://news.in.msn.com/business/article.aspx?cp-documentid=5248221&page=2
Guaranteed returns
Protection of Life
Protection of Financial
Goals
Beating inflation
Monthly cash flows that help
with expense management
to give a ‘boost’ to your
monthly income!
Guaranteed Monthly Income Plan :
Give and Get
Year 1 - 11
Year 12 - 21
GMIP:
In which you pay 11 Annual
Premiums
Your GMIP pays you back:
Every month, from 12th year onwards. For
10 years i.e. 120 payouts.
GMIP Benefits…
Money if one lives –
Money if one doesn’t –
Living benefits
Death Benefits
Guaranteed Monthly
Income – Starting 12th Year
Refund of all premiums paid, immediately
Monthly Income Booster
(Non-Guaranteed) –
Starting 12th Year
All future premiums borne by the Company
Guaranteed Terminal
Benefit – With the last
monthly payout in the 21st
year
GMI starts getting paid every month from the
policy anniversary following the date of
intimation of death
Guaranteed Monthly
Income – Starting 12th Year
Monthly Income Booster
(Non-Guaranteed) –
Starting 12th year
Guaranteed Terminal
Benefit– With the last
monthly payout in the 21st
year
Living Benefits
1:Guaranteed
Monthly
Income
GMIP
3:Guaranteed
Terminal
Benefit
2: Monthly
Income
Boosters
Living Benefits in detail…
• From policy year 2 onwards, upon receipt of the renewal
2: Monthly
Income
Boosters
premium, the policy will accrue monthly boosters
• Along with your Guaranteed Monthly Income, you would also
get a variable monthly income booster which is based on the
Govt Securities rate. These are very low risk investments, and
the rate vary basis the interest rate scenario.
• Boosters also start from the 12th year, and come to you
each month till the end of the payout period
• The Booster rate attached will be determined as on the last
working day of the previous month in which renewal is paid
Living Benefits in detail…
Premium Paying Phase – 1-11 yrs
Year
2012
Year
2013
Year
2014
Payout phase – 12-21 yrs
Year
2023
Year
2024
Year 1 - 21
Jan - 1st
Premium
1st Renewal Premium Paid – Jan 2013
• Rate as on 31st Dec 2012 = 8.0%
• Booster rate attached to policy is 53%,
which will be paid for 12 months in 2023
2nd Renewal Premium Paid
FIMMDA 5-Year
Monthly
Income Booster
G-Sec Benchmark • Rate as on 31st Dec 2013 = 8.5%
Rate
• Booster rate
attached to policy is 60%
Rate
7.5 % to < 8.0 %
46%
8.0 % to < 8.5 %
53%
locked
in
your
policy
for
the 12 months of the
8.5 % to < 9.0 %
60%
This rate gets
benefit
year; once accrued, boosters are guaranteed to be paid out…
GMIP: A transparent plan!
So in 2013, you
know the
income you will
get paid 10
years later, in
2023
Is there any better guarantee than this in Life !
Living Benefits in detail…
3:Guaranteed
Terminal
Benefit
• 200% of 1st annual premium is given as the
Guaranteed Terminal Benefit with the final
monthly payout
If the annual premium is Rs. 70000,
the final payout will include the GTB
of Rs. 1,40,000/-
This is how your GMIP works…
Mr. Singh is 40 old and works in an MNC. He wants an additional regular
monthly income to meet his future needs.
Step 1: Mr. Singh decided that he needs a monthly income of Rs. 10,000
Step 2: His policy term is 11 years
Step 3: The premium for his policy comes out to be Rs. 1,05,120* payable
for 11 years
*exclusive of Service Tax
GMIP: Living / Survival Benefits
Mr. Singh survives till the end of the payout period
Rs. 2.1 Lacs as Guaranteed Terminal Benefit
Monthly Income Booster
Rs. Rs. Rs.
Rs. Rs. Rs. Rs. Rs. Rs. Rs.
6000 6000 6800 6000 6800 6000 6000 6000 6000 6000
Booster rate will vary depending on
the benchmark rate.
Eg:
Eg:
Year 12 payouts:
Year 14 payouts include:
o Total payouts: (GMI+MIB)
o Total payouts: (GMI+MIB)
Rs. 16000 X 12 = Rs.1,92,000,
Rs.(Rs.
16800
X 12=
Rs. 2,01,600,
120000
annually)
Year 12Rs. 10000 per month
Year 21
consisting of:
consisting of:
Guaranteed Monthly Income
Year 1
• Guaranteed Monthly Income:
Rs. 10000 X12 = 120000
Year 11
+
• Monthly Income
Boosters:
Policyholder to pay premiums
from year
1-11:
Rs. 6000 X12 = 72000
Rs. 105120
• Guaranteed Monthly Income:
Rs. 10000*12 = 120000
+
• Monthly Income Boosters:
Rs. 6800*12 = 81600
GMIP: Death Benefit
1
In case Mr. Singh dies after paying 5 annual premiums
6
MNYL refunds the
annual premiums
paid by the
policyholder from
year 1-5
(Rs. 5.25 Lacs)
Rs. 2.1 Lacs Guaranteed Terminal Benefit
5
Rs. Rs. Rs. Rs. Rs. Rs. Rs.
Rs. Rs. Rs.
6000 6000 6800 6000 6800 6000 6000 6000 6000 6000
3
Nominee gets a monthly
income of Rs. 10000 from
year 6 - 11
2
Year 12
Rs. 10000 p.m. (Rs. 120000 annually)
4
Rs. 105120
Monthly Income Booster
Rs. 630720
Year 21
Guaranteed Monthly Income continues
see
Mr. Singh
is
Mr.Lets
Singh,
agehow
35, needs
Rs. 10,000
monthly
income
from
GMIP.
thinking
about
GMIP
I need a monthly
Income of Rs. 10000/-
The last 3 years average of the
benchmark rate is near about 8%...so
I should be able to earn around 53%
as income boosters
My AIP told me to look at a 70:30 ratio
between the GMI and MIB…so if I take
Rs. 7000 as the GMI & let the balance
come through boosters, at 53%
booster rate, I can earn Rs. 3710 as
boosters, making my monthly income
to be 10,710/-
This will also help me
save almost 30% of
the annual premium/-
Alternatively…!
I need a monthly
Income of Rs.
10000/I can take this entire amount
as the guaranteed monthly
income, so that there is no
shortage of money.
I can earn the monthly income
boosters over and above this
GMI! Which means that I could
earn about Rs.15300* every
month!
Higher premiums =
higher savings +
guaranteed
fulfillment of dreams
*@8% booster returns
GMIP: Product Features
Parameters
Specifications
Entry Age
Min: 25 years
Max: 60 years
Policy Term*
11 years
Monthly Income to begin
from
Year 12 (Month 133 onwards)
Income Payout Period
10 years (120 monthly payouts)
Minimum guaranteed
Monthly Income
Rs. 2000
(In multiples of Rs. 500)
Sum Assured
240 times guaranteed monthly Income
Premium Payment Mode
Annual (Only)
Underwriting Multiple
125 times guaranteed monthly Income
*Note: Premium Payment Term is equal to the policy term
GMIP: Tax Benefit
“The tax benefits under Max New York Life Guaranteed Monthly Income
Plan are available as per the prevailing provisions and conditions of the
Income-tax Act, 1961, including benefits under section 80C and 10 (10D)
of the Act that should be available in respect of sums received under Max
New York Life Guaranteed Monthly Income Plan”
It may be noted that the tax authorities may independently examine the availability of the
aforesaid benefits. Also, this is subject to any changes made to the tax legislation in
future.
The policyholders are advised to independently consult their tax advisor on their incometax implications.
Documents Required
Signed application form, version 2.1
One latest passport size photo, colour
Address Proof
Income Proof
Age Proof
1 Cancelled cheque copy of the customer’s bank account
Goal Finder, signed by the customer
Acknowledgement, signed by the customer
All documents to be self-attested by the customer
The excitement is just building…
For ABOs only:
Submit 1 case of
On 12th Jan, 2012…
And…
Get this exclusive
Sales Kit absolutely…
Sales Kit
And now, the news we’ve all been
waiting for…
Year
First Year
Premium
1st Year renewal
2nd Year
renewal
3rd Year
renewal
GMIP
50%
50%
10%
10%
Don’t forget to collect your folder!
For ABOs only:
Submit 1 case of
On 12th Jan, 2012…
And…
Get this exclusive
Sales Kit absolutely…