Chennai, April 27, 2001

Max New York Life Insurance Company, a partnership between Max India and New York Life, today formally launched its operations in Chennai.

The company also announced its long-term association with the SOS Children's Village. According to the agreement signed between Max New York Life and SOS Children's Village, the company shall donate a sum of money to the NGO for every policy that it sells. This will ensure a consistent source of funding for the SOS Children's Village that will grow with increasing sales of Max New York Life.

"Max New York Life's decision to enter an alliance with SOS Children village is a part of our initiative to ensure that the community remain our partners for life," said Analjit Singh, Chairman, Max New York Life Insurance Company. "Max India has already donate over Rs. 86 lakh to set up Children's village in Gujarat."

"SOS Children's Village has touched the lives of thousands across India" said Anuroop Tony singh, CEO and Managing Driector, Max New York Life Insurance Company, "We expect our contribution to SOS to touch over Rs. 10 lakh in the next two years."

Max New York Life's team of professional and highly trained life insurance Agents & Advisors will sell Max New York Life's life insurance products and help customers select policies that are best suited for their needs and means.

'Our aim is to provide global standards of service and valued to our customers," said Anuroop 'Tony' Singh, CEO and Managing Director, Max New York Life Insurance Company. 'I believe that our need-based, customized products and our team of life insurance Agents & Advisors will make a significant impact in shaping the Indian life insurance marketplace."

Max New York Life has introduced five life insurance products and seven riders (options) that can be customized to over 200 combinations enabling customers to choose the policy that best fits their needs. The products are - Whole-Life-Participating, Whole Life-Non-participating, 5-year Term Renewable and Convertible, Easy Term and Endowment - 20 years.

The seven riders are - Option to Purchase paid-up Additions, Guaranteed Insurability Option, Waiver of premiums, Term Rider, Personal Accident benefit, Dread Disease and Spouse. All policies come with 'free-look' offer that allows unconditional return of the policy within 10 days from the date of receipt.

'New York Life sees the tremendous opportunity that the Indian Life insurance market offers," said Dennis Pedini, CEO Asia and New York Life International. "The partnership has leveraged New York Life's 156 years of experience and Max India's understanding of the local markets to create products that are in tune with the needs of the Indian consumer".