MARKETS CAN TAKE YOU FOR A RIDE.

HERE'S A SAFETY-BELT.
Introducing Max New York Life SMART XpressTM with Money Market Fund
to ensure your investments never go down.

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. UIN:104L051V02

MAX NEW YORK LIFE

SMART Xpress TM
GROWTH PLANS
A Unit Linked Insurance Plan
 TM
Max New York Life SMART Xpress A Unit Linked Life Insurance Plan
UIN: 104L051V02

“IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY

THE POLICYHOLDER”

• Isn't the world moving forward at an express speed?

• Haven't the previous few years passed by at a lightning speed?
• Have you wanted your investments to grow at an express speed?
• Have you preferred to commit yourself in short-term payment plans, as you are unsure
about your finances?
If your answer to most of the questions above is YES, go on reading!
• What if, there is a Life Insurance cum Investment plan which gives you the freedom to
pay for short durations such as once and for all or 3 times or 5 times?
• What if, there is a Life Insurance cum Investment plan that gives you widest of
investment choices that suit your risk appetite?
• What if, there is a Life Insurance cum Investment plan that helps market volatilities work
to your advantage?
• What if, there is a Life Insurance cum Investment plan that offers you a Fund choice,
which preserves your capital in turbulent market conditions?
• What if, there is an investment plan that gives you Guaranteed Loyalty Additions units
over and above your Policy Value?
Presenting SMART XpressTM, a limited pay Life Insurance cum Investment plan that
does all of the above and more for you. This Plan understands that your dynamic
lifestyle and today's environment makes it preferable for you to make short-term
commitments and reap maximum benefits from your investments.
What does SMART XpressTM Unit Linked Investment Plan offer you?
• Payment term of 3 pay or 5 pay or Single Premium
• Short Policy Term of 10 years
• Well managed 8 Investment Funds to choose from as per your risk profile, including the
Money Market Fund for safeguarding your investments in turbulent market conditions
• A unique option called Systematic Transfer Plan, which lets you take advantage of
market volatilities through Systematic Equity Investments
• Guaranteed Loyalty Additions to boost your Policy Fund Value
• Partial Withdrawal feature for easy liquidity at the time of need
• Personal Accident Benefit and Dread Disease Rider option for extra protection
• Death Benefit payable to the nominee in case of unfortunate event of death of Life Insured
• Tax benefit U/s 80C and 10(10D), as per prevailing tax laws

CHOOSE YOUR PREMIUM & PAYMENT OPTIONS

We offer three Premium Payment Options:
Single Premium - Once at the time of proposal
3 Pay - Premium payment only for the first three policy years
5 Pay - Premium payment only for the first five policy years
The minimum Annual Premium under 3 pay and 5 pay premium payment options allowed is
Rs. 1,00,000 and Rs. 50,000 respectively and minimum Single Premium allowed is
Rs. 1,50,000.

In addition to this, you may even want to invest a lump-sum as and when you have it in the
form of Top-ups. The maximum Top-up allowed is up to 25% of the Cumulative Modal
Premium paid / Single Premium paid till date. The Top-up payments do not increase the
insurance coverage on the Policy.

CHOOSE THE PERIOD OF YOUR COVERAGE

The Policy Term is fixed at 10 years and maximum age at Policy maturity being 70 years.
The Life Insured at the time of proposal must be at least 91 days of age and maximum
60 years (in case of 3 pay and 5 pay options) and 55 years (in case of Single Premium
option). With Dread Disease Rider, the minimum and maximum age of entry is 20 years and
50 years respectively. With Personal Accident Benefit Rider the minimum and maximum
age of entry is 20 years and 55 years respectively.

SUM ASSURED
3 pay and 5 pay options: Sum Assured will be Annual Premium times Multiple as per the below table.

Age Band Minimum Maximum

Single Premium option - Sum Assured will be Single Premium times Multiple
(Life Insured) ATP Multiple ATP Multiple
Up to 25 years 5 30 Age Band Single Premium
26 to 35 years 5 25 (Life Insured) Multiple (fixed)
36 to 49 years 5 10 Up to 49 years 1.10 or 5 times SP
50 to 60 years 5 5 50 to 55 years 1.10 times SP

CHOOSE YOUR INVESTMENT STRATEGY

In this plan, the investment risk in your chosen investment portfolio is borne by you.
It means that the premiums you pay in this plan are subject to investment risks associated
with the capital markets. The Unit Fund Value may go up or down, reflecting changes in the
capital market.

So, to balance your level of risk and return, making the right investment choice is
very important.

You have the flexibility to direct your investments in any one or more of the following seven
Unit Linked Investment Funds being offered: SECURE, CONSERVATIVE, BALANCED,
GROWTH, GROWTH SUPER, DYNAMIC OPPORTUNITIES and MONEY MARKET.
The Fund details are as follow:
 Asset Class
Funds Corporate Bonds Money Market
Potential Risk Government
(Investment and Cash Equity
Reward Securities
Grade) Instruments
Growth Fund: Provides potentially
higher returns by investing primarily in
Equities (to target growth in capital
value of assets); however, the Fund High 0-30% 0-30% 0-40% 20-70%
will also invest in Government
Securities, Corporate Bonds and
Money Market Instruments.
Growth Super Fund: Provides
potentially higher returns by investing
predominantly in Equities (to target
growth in capital value of assets);
High 0-20% 0-20% 0-30% 70-100%
however, the Fund may also invest in
Government Securities, Corporate
Bonds and Money Market
Instruments.
Balanced Fund: Provides balanced
returns from investing in both Fixed
Income Securities (to target stability
Moderate 20-50% 20-40% 0-40% 10-40%
of returns) as well as in Equities (to
target growth in capital value of
assets).
Dynamic Opportunities Fund: Provides
potentially higher returns to the
Policyholder by dynamically investing
in Equities, Debt or Cash Instruments
to capitalise on changing market
conditions. The Fund will have the Moderate 0-100% 0-100% 0-40% 0-100%
flexibility to increase or decrease the
Debt-Equity ratio basis the
opportunities available in the market.
Conservative Fund: Provides stable
return by investing in assets of
relatively low to moderate level of
risk. The Fund will invest primarily in
Fixed Interest Securities such as
Government Securities, Corporate Low 50-80% 0-50% 0-40% 0-15%
bonds, etc. However, the Fund may
also invest in Equities.
Money Market Fund: Provides stable
returns by investing in short term
Money Market Instruments like
treasury bills and cash. The declared
NAV of the Fund is guaranteed to be Low Nil Nil 100% Nil
not less than the declared NAV of the
previous business day. #
Secure Fund: Provides stable returns
by investing in relatively low risk
assets. The Fund will invest
exclusively in Fixed Interest Securities Low 50-100% 0-50% 0-40% Nil
such as Government Securities,
Corporate Bonds, etc.
Secure Plus Fund: Provides safety of
capital while providing a moderate
return to the Policyholders. The Fund
will invest only in Government
Securities and Money Market
Instruments. This Fund is only Low 60-100% 0-60% 0-40% Nil
applicable with Systematic Fund
Transfer option. The policyholder
cannot switch/redirect fund to Secure
Plus Fund from any other fund during
the policy term.
# This will ensure that the investments done in this Fund are secure and are protected from any
capital erosion. This Fund is ideal for customers having low risk appetite.

SYSTEMATIC TRANSFER PLAN – A unique feature that staggers your entry into Equity
related Fund and helps you average out the entry cost.

If you opt for Single Premium option, or 3 Pay/5 Pay option on Annual mode of payment,
the Systematic Transfer Plan can be opted for.
Under this option, the ATP received net of premium allocation charge shall be allocated
first to the Secure Plus Fund and units will be purchased. Immediately thereafter and on
each subsequent 11 Monthiversaries, 1/12th of the initial units purchased shall be
switched to the Growth Super Fund automatically by cancelling units in the Secure Plus
Fund and purchasing units in the Growth Super Fund.

This may give you the benefit through market volatilities as the average entry price in the
Growth Super Fund will be the average of all the investments done on the Growth Super
Fund over the Policy Year.

Can I opt out of the Systematic Transfer Plan option?

Yes, you can opt out of the Systematic Transfer Plan only on Policy Anniversaries.
We would require a written request from the Policyholder to discontinue this option
by giving at least 30 days written notice to the Company. Upon fulfillment of such request
the premiums will be directly invested to Growth Super Fund or any other Funds as opted
by you from the available funds under the plan.

Will Systematic Transfer Plan work in case I do not pay the premiums on time?
The STP option will not work if the ATP is received after the expiry of grace period of 30
days from the premium due date. In such a case, the due ATP when received and upon
successful revival of the policy, the premium will directly be invested in Growth Super
Fund or any other fund of your choice.

Can I opt into the Systematic Transfer Plan option at a later stage after policy issuance?
Yes, this option is available at proposal stage and also at a later stage during the Premium
Payment Term. We would require a written request from the Policyholder to avail this
option by giving at least 30 days written notice to the Company.

For example:
The table below shows an example showing maturity values on an assumed rate of return
on investment of Funds at 6% and 10%. The figures assume that investments are entirely
done in the Growth Fund:
 Assumed Rate
Premium Annual
Policy Term Sum Assured of Return on Maturity Value Net Yield to
Entry Age Payment Target
(Years) (In Rs.) Investment of (In Rs.) the Customer
Term Premium
Funds p.a.

6% 615,723 3.54%
3 Pay Rs. 150,000 Rs. 750,000
10% 855,459 7.38%

30 6% 667,649 3.66%
10 5 Pay Rs. 100,000 Rs. 500,000
Years 10% 896,337 7.50%

Single 6% 271,770 3.11%

Rs. 200,000 Rs. 220,000
Premium 10% 397,090 7.10%

Please note that the above-assumed rates of return of 6% and 10% respectively are only
scenarios of what your Policy may look like at these rates after recovering all applicable
charges. These are not guaranteed returns and they are not the upper or lower limits of
what you might earn, as the value of your Policy is dependent on a number of factors
including future investment performance.

OTHER FLEXIBILITIES
As you know, insurance is a long-term relationship and life's dynamic nature makes
changes necessary and important. Keeping that in mind, this plan offers you the below
flexibilities for convenience and to improve your investment returns.
Flexible Options Benefits
You can pay your premiums within 30 days after the due date to fit in with your cash
Premium Payments flows. In case of monthly mode, you need to pay your premiums within 15 days after
the due date.

Premium Payment Modes The premiums can be paid Monthly, Quarterly, Semi-Annually or Annually under the
3 pay and 5 pay payment options.
You have the option to invest over and above your Regular premiums at any time,
subject to the following conditions:
• Your total Top-up premiums at any time are not more than 25% of your total regular
Top-ups premiums paid till date
• We will accept the Top-up Premium specified in your written request provided there is
no default in the payment of modal premiums and any such payment of Top-up will ve
first applied in recovering the modal premiums.
Note: The Top-up premiums will not buy any insurance cover.
You can change your Investment Fund choices in two ways:
SWITCHING: You can Switch units from one Fund to another, minimum amount is Rs. 5000.
Changing your
PREMIUM REDIRECTION: You can pay your future premiums into a different selection of
investment decisions
Funds, as per your need.
Note: Switch and Redirection facility is not available in Secure Plus Fund under the Systematic
Transfer Plan option.

DISCONTINUATION OF PREMIUM
Discontinuation of premiums after paying premiums for at least First three Policy Years:
If after payment of all due premiums of first three Policy Years, any further premium is not
paid to the Company within the grace period (30 days), the Policy and all applicable covers
will continue till the end of the revival period (3 years) and all charges including Policy
Administration Charge, Fund Management Charge, Mortality Charge (if any) and Rider
Charge (if any) will continue to be levied during this period. However, at any time during the
revival period if the surrender value of the policy is equal to one initial annual
targetpremium then the Policy will terminate and the applicable surrender value will be
paid to the Policyholder.

If before the end of the revival period the policyholder wants to pay premium then all due
premiums should be paid till date to revive the policy. Alternatively, the policyholder has
the option to opt for 'Cover Continuance Option' under which the policy will continue
with all the due benefits. Once the Cover Continuance Option is chosen by the
policyholder, the Company will not accept any further premiums or Top-ups and the
policyholder shall not be entitled for the Guaranteed Loyalty Additions.
If the policyholder fails to pay all due premiums and also fails to choose the 'Cover
Continuance Option' before the end of the revival period then the policy will terminate and
the applicable Surrender Value will be paid to the policyholder.
However, at any time during the policy lifetime if the Surrender Value of the Policy is equal
to one initial Annual Target Premium then the Policy will terminate and the applicable
Surrender Value will be paid to the policyholder.
Discontinuance of premiums within three years of inception of the Policy:
Should a premium falling due before the third policy anniversary not be paid, then on
expiry of the grace period (30 days) the Unit Account will be closed (this means that the
units will be disinvested and the monetary value of such units will be held) and any life
cover or rider cover will cease.
The policyholder can revive the policy within the revival period (3 years) from the date of
first unpaid premium by paying all due premiums till date. On revival, the Unit Account will
be re-opened (this means once the customer revives the policy, the monetary value
of the units closed together with the amount of premium paid at the revival date
less any Premium Allocation Charge and according to the ratio in which the premium
should be allocated in various Funds, as specified by the Policyholder, will be used to
purchase Units at the Unit Price as at the date of revival) and any life cover or rider cover
will recommence.
An amount equal to the Policy Administration Charges falling due between the date of
lapse and the date of revival will be levied at the date of revival by cancelling Units in the
Unit Account at the then applicable Unit Price.
In case the policy is not revived during the revival period, the policy will terminate and the
Cash Surrender Value as at the date of lapse, if any, shall be paid at the end of the third
policy anniversary or at the end of the revival period, whichever is later.
Grace Period and Revival
A grace period of 30 days from the due date of payment of Modal Premium shall be
allowed for payment of unpaid Modal Premium.
During the grace period, we will accept the due Modal Premium amount without interest.
The insurance cover (Sum Assured) continues during this grace period. But, in case of
death of Life Insured during the grace period, we will pay the Death Benefit.
The policy can be revived within 36 months of its date of lapse, if:
i) You give us a written request to revive the policy and
ii) You have produced evidence of insurability acceptable to us as per our underwriting
practices and
iii) You pay us all overdue Modal Premiums
The revival of a lapsed Policy is subject to absolute discretion of the Insurer.
ELIGIBILITY CRITERIAS

Criteria
Age of Life Insured
Age of Life Insured at Policy Maturity
Premium Payment Term
Policy Term
Premium Limits
Riders Available
Eligibility
3 pay and 5 pay: 91 days to 60 years, age as on last birthday
Single Premium: 91 days to 55 years, age as on last birthday
With Dread Disease Rider, the minimum and maximum age of entry is 20 years
and 50 years respectively. With Personal Accident Benefit Rider, the minimum
and maximum age of entry is 20 years and 55 years respectively.
Maximum: 70 years, age as on last birthday
Single Pay: Maximum - 65 years
3 Pay, 5 Pay or Single Premium
Fixed: 10 years
3 pay: Minimum ATP: Rs. 1,00,000
5 pay: Minimum ATP: Rs. 50,000
Single Premium: Minimum Single Premium: Rs. 1,50,000
Maximum ATP / Single Premium: No limit, subject to underwriting
Personal Accident Benefit and Dread Disease

POLICY BENEFITS
On Maturity:
Your Policy matures at the end of the Policy Term you have chosen and your death cover
and other risk ceases. You may take your maturity proceeds, which will be the Fund Value.
You have another option called the Settlement Option, where at least 3 months prior to the
maturity of the Policy, you can opt for a Settlement Option, which will entitle you to receive
periodical payments subject to our prevailing rules. In case a Settlement Option is opted
for, the Policy will continue even after the maturity date but without the Death Benefit for a
period not exceeding 5 years from the date of maturity (settlement period). The units will
be cancelled periodically at their Unit Price and the proceeds will be given to you in
accordance with the option selected and accepted by us. All applicable charges excluding
the Mortality charge shall continue to apply and shall be recovered. During the Settlement
Period, you will not be entitled to effect Partial Withdrawal of the Policy or exercise Switch
options. The Unit Account continues during the Settlement Period and all inherent risks
shall be borne by you.
Guaranteed Loyalty Additions:
Guaranteed Loyalty Additions will be paid, provided all due premiums have been paid by the
Policyholder. If the Policyholder opts for Cover Continuance Option, then Guaranteed
Loyalty Additions will not be paid.
The value of Guaranteed Loyalty Additions shall be equal to:
a) In case of Single Premium, 0.5% of single premium received
b) In case of 3 pay and 5 pay, 4% of the applicable Annual Target Premium

On Partial Withdrawal
As investment under insurance plans is viewed on a long-term horizon and the maximum
benefits are also reaped if you stay invested for longer duration, therefore, for the first three
Policy Years, the plan is not eligible for a partial surrender. Therefore, you can make lump-
sum Partial Withdrawals from your Funds at any time after the Policy has completed three
years provided the Life Insured has attained 18 years of age and within the Policy Term
chosen. The maximum amount of Partial Withdrawal allowed in any particular year after
the first 3 Policy Years is 20% of the Fund Value subject to the Fund Value immediately
after Partial Withdrawal being not less than 1.5 times of the Annual Target Premium. In
case of Single Premium option, the maximum amount of Partial Withdrawal allowed in any
particular year after the first 3 Policy Years is 20% of the Fund Value subject to minimum
Fund Value equal to 20% of the Single Premium after Partial Withdrawal of units. Minimum
amount for which the request for Partial Withdrawal of units will be entertained is Rs.
5,000.
The Sum Assured shall be reduced to the extent of Partial Withdrawals made during the
two years period immediately preceding the death of Life Insured. However, on attainment
of age 60 by the Life Insured, all Partial Withdrawals made within two years before
attaining age 60 and all Partial Withdrawals made after attaining age 60 shall be set-off
against Sum Assured payable on death.
We offer 12 free Partial Withdrawals every year with this plan.

On Full Surrender
In case you decide to discontinue the plan due to any reason, you may do so by giving us a
prior written request to Surrender this Policy at any time after the first Policy Anniversary,
subject to payment of 1 full ATP. Upon our receipt of your signed request for Surrender of
the Policy, this Policy will immediately terminate. However, the Surrender Value, if any,
prevailing at the time of effecting the Surrender shall be paid only after the completion of
the third Policy Anniversary. Please refer to the section on Other Charges for details on
surrender charge.

On Death of Life Insured:

In case of death of Life Insured, we will pay Death Benefit which is higher of:
i. The Fund Value prevailing on the date which immediately follows the date of intimation of
death to us; or
ii. The Sum Assured

Note:
In case the death of Life Insured occurs before attaining his age of 7 years, the Death
Benefit will be limited to the Fund Value prevailing on the date, which immediately follows
the date of intimation of death.

The Sum Assured shall be reduced to the extent of partial withdrawals made during the two
years period immediately preceding the death of Life Insured. However, on attainment of
age 60 by the Life Insured, all partial withdrawals made within two years before attaining
age 60 and all partial withdrawals made after attaining age 60 shall be set off against Sum
Assured payable on death.
 CHARGES UNDER THE POLICY

1. PREMIUM ALLOCATION CHARGE

Premium Allocation Charge for Year 1 (as a % of ATP/Single Premium/Top-up):

Premium Allocation Charge as a Premium Allocation Charge as a

Premium Bands (Rs.) percentage of Annual Target Premium percentage of Single Premium

3/5 Pay Single Premium (Minimum Rs. 1,50,000)

Rs. 50,000 to 2,99,999 20%

Rs. 3,00,000 to 4,99,999 18% 7%
Rs. 5,00,000 & above 16%

In respect of ATP received for subsequent years: Allocation charge shall be 3% of premium received.

In respect of Top-up premiums received: Allocation charge shall be 2% of Top-up premium received.

2. FUND MANAGEMENT CHARGE

In the long run what makes your investment returns look impressive is the way your
Funds are managed. Thankfully, Max New York Life's expertise in managing your Funds
does not cost you a fortune. This is a charge levied as a percentage of the value of assets
and shall be appropriated, usually daily, by adjusting the Net Asset Value of the Fund.
The annual rate of Fund Management charge is as below. This charge may increase in
future after clearance from IRDA but shall not be higher than 1.35% p.a.

Fund Charge

Secure Fund 0.90% per annum

Conservative Fund 0.90% per annum
Balanced Fund 1.10% per annum
Growth Fund 1.25% per annum
Growth Super Fund 1.25% per annum
Dynamic Opportunities Fund 1.25% per annum
Money Market Fund 1.25% per annum
Secure Plus Fund 0.90% per annum
 OTHER CHARGES

Charges Explanation

a) 3/5 Premium Payment Option: Rs. 600/- per annum which shall be charged monthly @ Rs. 50 per month on
Policy each Monthiversary which shall not exceed Rs. 900/- per annum, subject to IRDA approval. b) For Single
Administration Premium Payment Option: Rs. 1200/- per annum, which shall be charged monthly @ Rs. 100 per month on each
Charge* Monthiversary which shall not exceed Rs. 1800/- per annum, subject to IRDA approval.
*This charge shall be increased by 5% per annum compounded yearly.
Mortality charge for providing risk cover to the Life Insured shall be recovered.
On each Monthiversary, an appropriate number of Units, including a part thereof, in the Unit Account will be
Mortality cancelled at their unit price to meet mortality for the Life Insurance.
Charge Please refer to the below mortality rates for some sample ages.
Age 30 35 40 50
Annual Mortality charge per 1000 Sum at Risk 1.170 1.387 2.053 5.244

Morbidity charge will be levied for providing Dread Disease Benefit.

On each Monthiversary, an appropriate number of units, including a part thereof, in the Unit Account will be
cancelled at their unit price to meet morbidity for the coverage under the Dread Disease Benefit.
Morbidity Please refer to the below table for Dread Disease Benefit charges for some sample ages for a
Charge 10 year rider coverage term.

Age 30 35 40 50
Annual Morbidity charge (in Rs.) 3.43 5.00 7.75 19.42
per 1000 Sum Assured

Switching A maximum of 12 Switches are allowed in a Policy Year and will be free of charge, , minimum amount is Rs. 5000.
Charge

Redirection A maximum of 12 Redirections are allowed in a Policy Year and will be free of charge.
Charge
Partial
Withdrawal A maximum of 12 Partial Withdrawals are allowed in a Policy Year and will be free of charge.
Charge
Surrender Charge as a Surrender Charge
If Policy is Surrendered percentage of ATP as a percentage of
3 Pay 5 Pay Single Premium

In 1st Policy Year 40% 40% 9%

Surrender In 2nd Policy Year 15% 15% 8%
Charge In 3rd Policy Year 10% 10% 7%
In 4th Policy Year 5% 5% 6%
In 5th Policy Year 2.5% 2.5% 4%
Year 6 and onwards Nil Nil Nil
Note: The Surrender Value is payable only after the 3rd Policy Anniversary.

Please Note : Service Tax and Education Cess is payable at the applicable rates on all
charges except Surrender Charge.

Note: All Charges are guaranteed and shall not increase during the term of the Policy
subject to the limits specified and subject to clearance from IRDA.
 TAX BENEFITS
This plan may entitle you to certain tax benefits on your premiums as well as on
your maturity value subject to Tax Laws prevailing from time to time.
• U/s 80C of the Income Tax Act 1961 on your premiums
• U/s 10(10D) of the Income Tax Act 1961 on your maturity proceeds of the policy

A WORD ON THE RISKS OF INVESTMENT IN THE UNITS OF THIS POLICY

• 'Max New York Life Insurance Co. Ltd.' is only the name of the insurance
company and Max New York Life SMART Xpress is only the name of the Unit
Linked Life Insurance plan and does not in any way indicate the quality of the
contract, its future prospects and returns.
• Unit Linked Life Insurance products are different from the traditional insurance
products and are subject to investment risk.
• The premium paid in Unit Linked Life Insurance Policies are subject to investment
risks associated with the capital markets and NAVs of the units may go up or
down based on the performance of fund and factors influencing the capital
market and the insured is responsible for his / her decisions.
• The various funds offered under this contract are the names of the Funds and do
not in any manner indicate the quality of these plans, their future prospects
and returns.
• The past performance of any Fund of the Company is not necessarily indicative
of the future performance of any of the Funds. The Funds do not offer a
guarantee of assured return.
• All premiums/benefits/charges payable under the policy are subject to applicable
laws and taxes including service tax and any cess, as they exist from time to
time.
• By definition this is a non-participating Policy.
• No loan is available under this Policy.
• Please understand the product features and discuss with your insurance agent
and intermediary, read the product brochures and illustrations carefully before
concluding the contract with the Company.

TERMS AND CONDITIONS

We urge you to please read this brochure and benefit illustration and understand the plan
details, how it works and the inherent risks involved before your decide to purchase.
Unit Prices: Unit price of a Fund will be determined by dividing the Net Asset Value of the
Fund by the outstanding number of units on the Fund valuation date. The value of a Fund
will be determined and based on the market value / fair value at which assets referenced to
such Fund can be respectively purchased or sold, plus the respective cost of purchasing or
minus the cost of selling the assets, plus the value of current assets, plus any accrued
income net of Fund Management charges, less the value of current liabilities, less
provisions, if any. The value of Funds may increase, decrease or remain unchanged
accordingly. The unit pricing shall be computed based on whether the Company is
purchasing (Appropriation price) or selling (Expropriation price) the assets in order to meet
the day to day transactions of unit allocations and unit redemptions i.e. the Company shall
be required to sell / purchase the assets if unit redemptions / allocations exceed unit
allocations / redemptions at the valuation date.
The Appropriation price shall apply in a situation when the Company is required to purchase
the assets to allocate the units at the valuation date. This shall be the amount of money that
the Company would put into the Fund in respect of each unit it allocates in order to preserve
the interests of the existing Policyholders.
The Expropriation price shall apply in a situation when the Company is required to sell
assets to redeem the units at the valuation date. This shall be the amount of money that the
Company will take out of the fund in respect of each unit it cancels in order to preserve the
interests of the continuing Policyholders.
In respect of premiums received up to 3:00 p.m. under a local cheque or a demand draft
payable at par or by way of cash, the closing NAV of the day on which the premium is
received shall be applicable. In respect of premiums received after 3:00 p.m, the closing
NAV of the next business day shall be applicable.
In respect of premiums received under outstation cheques / demand drafts, the closing
NAV of the day on which the cheques / demand draft is realised shall be applicable.
All requests for Switch, Redirection or Partial Withdrawal received up to 3:00 p.m., will be
processed at the closing NAV of the day on which the request is received. All such requests
received after 3:00 p.m., will be processed at the closing NAV of the next business day.
Exclusions: If the Life Insured dies by suicide, whether sane or insane, within one year from
the date of acceptance of risk or the date of any revival of this Policy effected in the first
3 years, all risks under the Policy shall come to an end simultaneously. In such an event, we
will only refund the Fund Value, if any, of the Policy.
Free Look period: The Policyholder has a period of 15 days from the date of receipt of the
Policy to review the terms and conditions of the Policy and where the Policyholder
disagrees to any of those terms or conditions, he has the option to return the Policy stating
the reasons for his objections, upon which he shall be entitled to refund of an amount which
shall be equal to the non-allocated premium plus charges levied by cancellation of units plus
Fund Value as at the date of cancellation of Policy less expenses incurred on medical
examination and on account of stamp duty.
Prohibition of Rebates: Section 41 of the Insurance Act, 1938 states: "No person shall
allow or offer to allow, either directly or indirectly, as an inducement to any person to take
or renew or continue an insurance in respect of any kind of risk relating to lives or property,
in India, any rebate of whole or part of the commission payable or any rebate of the
premium shown on the Policy, nor shall any person taking out or renewing or continuing a
Policy accept any rebate, except such rebate as may be allowed in accordance with the
published prospectuses or tables of insurer."
Non-Disclosure: Section 45 of the Insurance Act, 1938, states that under the provisions of
Section 45 of the Insurance Act, 1938, "No Policy of life insurance effected after the expiry
of two years from the date on which it was effected be called in question by an insurer on
the ground that a statement made in the proposal for insurance or in any report of a medical
officer or referee or friend of the insured or in any other document leading to the issue of the
Policy, was inaccurate or false, unless the insurer shows that such statement was on a
material matter or suppressed facts which it was material to disclose and that it was
fraudulently made by the Policyholder and that the Policyholder knew at the time of making
it that the statement was false or that it suppressed facts which it was material to disclose.
Provided that nothing in this section shall prevent the insurer from calling for proof of age at
any time if he is entitled to do so and no Policy shall be deemed to be called in question
merely because the terms of the Policy are adjusted on subsequent proof that the age of the
Life Insured was incorrectly stated in the proposal."
Vesting on Attaining Majority: If the Policy has been issued on the life of a minor, the Policy
will automatically vest in him on his attaining the age of majority (eighteen years) and
thereafter the Life Insured would be the Policyholder and the company shall deal directly
with him.
A professional pedigree that's second to none: Insurance solutions from Max New York
Life bring proven expertise to the Indian life insurance arena. As your partner for life, we
bring you innovative Life Insurance solutions based on New York Life's global experience of
over 160 years and Max India's deep understanding of the Indian market.
Expert Advice at Your Doorstep: Our Agent Advisors have been professionally trained to
understand and evaluate your unique financial requirements and recommend a Policy
which best meets your needs. With experienced agents, supported by a team of
specialists, we are fully equipped to help you achieve your life's financial objectives.
Please call us today. We would be delighted to meet you.
National Contact Details incl. Full Name of the Company and its registered address)
Insurance is the subject matter of the solicitation
 List of Ombudsman
Office of the Ombudsman Name of the Ombudsman and Contact Details Areas of Jurisdiction
AHMEDABAD Shri B.C. Bose

2nd Flr., Ambica House, Nr. C.U. Shah (O): 079-27546150, 27546139 Gujarat, UT of Dadra &
College, 5, Navyug Colony, 2, Ashram Fax: 079-27546142 Nagar Haveli and
Road, AHMEDABAD - 380 014 E-mail: insombahd@rediffmail.com Daman & Diu
BHOPAL Shri R.P. Dubey
1st Floor, 117, Zone-II, (Above D.M. (O): 0755-2769200, 2769202, 2769201, Madhya Pradesh and
Motors Pvt. Ltd.), Maharana Pratap Fax: 0755-2769203 Chhattisgarh
Nagar, BHOPAL - 462 011 E-mail: bimalokpalbhopal@airtelbroadband.in

BHUBANESWAR Shri M.N. Patnaik

62, Forest Park, (O): 0674-2535220, 2533798 Orissa
BHUBANESWAR - 751 009 Fax: 0674-2531607
Email: ioobbsr@dataone.in
CHANDIGARH Shri K.M. Chadha
S.C.O. No. 101,102 & 103, (O): 0172-2706196, 2705861 Punjab, Haryana, Himachal
2nd Floor, Batra Building,Sector 17-D, EPBX: 0172-2706468 Pradesh, Jammu &
CHANDIGARH - 160 017 Fax: 0172-2708274 Kashmir, UT of Chandigarh
E-mail: ombchd@yahoo.co.in
CHENNAI Shri K. Sridhar
Fatima Akhtar Court, (O): 044-24333678, 24333668 Tamil Nadu, UT Pondicherry
4th Flr., 453(old 312 ), Fax: 044-24333664 Town and Karaikal
Anna Salai, Teynampet, E-mail: insombud@md4.vsnl.net.in (which are parts of UT of
CHENNAI - 600 018 Pondicherry)

DELHI Shri R. Beri

2/2 A, 1st Floor, (O): 011-23239611,23237539, 23237532 Delhi and Rajashthan
Universal Insurance Bldg., Asaf Ali Road, Fax: 011-23230858
NEW DELHI - 110 002 E-mail: iobdelraj@rediffmail.com

GUWAHATI Shri S.K. Kar

Aquarius, (O): 0361-2413525 Assam, Meghalaya,
Bhaskar Nagar, EPBX: 0361-2415430 Manipur, Mizoram,
R.G. Baruah Rd., Fax: 0361-2414051 Arunachal Pradesh,
GUWAHATI - 781 021 E-mail: omb_ghy@sify.com Nagaland and Tripura

HYDERABAD Shri P.A. Chowdary

6-2-46, 1st Floor, (O): 040-23325325, 23312122, 65504123 Andhra Pradesh, Karnataka
Moin Court, Lane Opp.Saleem Function Fax: 040-23376599 and UT of Yanam (a part of
Palace, A. C. Guards, Lakdi-Ka-pool, E-mail: hyd2_insombud@sancharnet.in the UT of Pondicherry)
HYDERABAD - 500 004

KOCHI Smt. P.N. Santhakumari

2nd Flr., CC 27/ 2603, Pulinat Building, (O): 0484-2358734, 2359338, 2358759 Kerala, UT of
Opp. Cochin Shipyard, M.G. Road, Fax: 0484-2359336 (a) Lakshadweep,
ERNAKULAM - 682 015 E-mail: ombudsmankochi@yahoo.co.in (b) Mahe (a part of UT of
Pondicherry)
KOLKATA Shri K. Rangabhashyam
North British Bldg. (O): 033-22134869, 22134867, 22134866 West Bengal, Bihar,
29, N. S. Road, 3rd Flr., Fax: 033-22134866 Jharkhand and UT of
KOLKATA -700 001 E-mail: iombkol@vsnl.net Andaman & Nicobar
Islands, Sikkim
LUCKNOW Shri K.S.K. Khare
Jeevan Bhawan, Phase 2, 6th Floor, (O): 0522-2201188, 2231330, 2231331 Uttar Pradesh and
Nawal Kishore Rd., Hazartganj, Fax: 0522-2231310, Uttaranchal
LUCKNOW - 226 001 E-mail: ioblko@sancharnet.in

MUMBAI Shri R.K. Vashishtha

3rd Flr., Jeevan Seva Annexe, S.V. (O): 022-26106928, 26106360, Maharashtra and Goa
Road, Santa Cruz (W), EPBX: 022-6106889,
MUMBAI - 400 054 Fax: 022-26106052
Email: ombudsman@vsnl.net
Max New York Life Insurance Company Limited is a joint venture of MAX India Limited and New York Life International LLC.
Max New York Life Insurance Company Limited, 11th Floor, DLF Square Building, Jacaranda Marg, DLF Ph - II, Gurgaon (Haryana) - 122002. 'Max New York Life Insurance Co.
Ltd.' is only the name of the insurance company and 'Max New York Life SMART Xpress' is only the name of the Unit Linked Life Insurance plan and does not in any way indicate
the quality of the contract, its future prospects and returns. Unit linked Life Insurance products are different from the traditional insurance products and are subject to investment
risk. The premium paid in Unit Linked Life Insurance Policies are subject to investment risks associated with the capital markets and NAVs of the units may go up or down based
on the performance of Fund and factors influencing the capital market and the insured is responsible for his / her decisions The various Funds offered under this contract are the
names of the Funds and do not in any manner indicate the quality of these plans, their future prospects and returns. The past performance of any Fund of the Company is not
necessarily indicative of the future performance of any of the Funds. The Funds do not offer a guarantee of assured return. All premiums / benefits / charges payable under the
Policy are subject to applicable laws and taxes including service tax and any cess, as they exist from time to time. By definition this is a non-participating Policy. No loan is
available under this Policy. Please understand the product features and discuss with your insurance agent and intermediary, read the product brochures and illustrations
carefully before concluding the contract with the Company.

SMS 'MAX' to 54242 A plan for every need. SMS 'GROWTH' to 54242