If Max NY calls you, persuade yourself to not give them your time. Insist on the written details of the plan(s), and IRDA approved illustrations. Look really closely at the cost structure.
Then compare with plans from LIC, ICICI Prudential, Bajaj Allianz. And Tata AIG. HDFC Standard and SBI Life also are worth considering. However, Metlife, Aviva, Max NY and their ilk are only fancy names of greedy multinationals whose mouth is watering at the prospect of a young and deep pocketed indian consumer community.
Max New York is relentless in searching for the un-informed and gullible customers. They prey on your family and contacts and when the responsible and capable individual(s) are not around, the agents move in and make their kill ! Ulips are their pet products and one comparison will tell you their plans are simply meant to benefit the company at your cost.
Cases of ulips with equity allocations being sold in Jan., Feb., Mar., April 2008 clearly tell you that **Max NY does not care. As a policy holder who is supposed to benefit from their financial planning, you are making instantaneous losses (altho’ notional) and will also recieve significantly lower returns in the long run(even if it were terms of 25 to 30 yrs). Further Max NY agents will never bother to discuss switching options and will be conspicously absent/unavilable when you have review your investments and carry out damage control.
Like Eureka Forbes, Reliance Power, Club Mahindra, the ethics of this company are questionable and the enemy is the retail customer. The day Max NY can claim a track record in selling group insurance and provide real financial planning will be the day I would re-look their products. Till then heres hoping that they will stop misleading and swindling customers.