Max New York Life, one of the leading private insurer, has entered into a strategic tie-up with Peerless Developers Ltd., for distribution of its Insurance policy christened `Max Vijay.'

The executives of insurance firm believe that the latest tie-up will enable Max New York Life to significantly expand the distribution for Max Vijay across the country.

Under the arrangement, Max Vijay will be sold via 102 Peerless offices covering 21 states, which will be expanded to cover all 154 Peerless offices across 24 states, by the end of June 2009.

It should be noted that Max Vijay is a unique, first-of-its-kind policy that offers the benefit of stable investment returns along with insurance and savings, at low entry level premiums. In addition, the product is lapse free as long as there is sufficient value in the policy account to meet the premium charges.

Further, the company said that customers of Peerless network will be able to buy, pay subsequent premiums and register their claims at any of the dedicated Peerless offices, which makes it a very convenient proposition for subscriber.

Currently Max New York Life sells 7 products through the Peerless network, which includes Life Maker Gold, Life Maker Premium, Life Partner Plus, Max Mangal, Max Vriksha, SMART Steps Plus and Unit Builder.