Platinum protect is the new term plan from Max New York life. This plan is available in terms of 20, 25, and 30 year plans. The chief attractive feature for this plan is that we can avail the insurance coverage even though the policy premium payment is stopped after 16 years.  This facility can be claimed if the insurance need of the policy owner become reduced or he turns financially instable. Another interesting feature of this policy is that people with healthy life style can pay reduced premium amounts. They can avail a discount up to 36%.