Max New York Life launches new group scheme

Max New York Life launches new group scheme
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First Published: Tue, Mar 20 2007. 03 24 PM IST
Updated: Tue, Mar 20 2007. 03 24 PM IST
PTI
New Delhi: Private sector life insurer Max New York Life has launched its new group insurance plan for employees under the Unit Linked Investment Plan (ULIP) on 20 March.
The new plan gives an additional 3% allocation on the primary investment by the employee-employer, Max New York Life said in a statement on 20 March.
The minimum contribution for the scheme is Rs 6,000 a year per employee and those in the age group of 18-64 years can opt for the plan, the statement said.
“The objective is to build a sizeable corpus for an employee as he approaches retirement, a part of which can be transferred and the remaining amount used to purchase an annuity,” Max New York Life director, group business, Anil Mehta said.
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First Published: Tue, Mar 20 2007. 03 24 PM IST
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