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Axis Max Life Savings Advantage Plan is a non-linked, participating individual life insurance savings plan (UIN 104N111V04). It combines life insurance coverage with guaranteed additions and a maturity benefit, while paid-up additions and terminal bonus may also be payable where applicable. The plan provides guaranteed additions equal to 5.5% of the Guaranteed Sum Assured on Maturity at the end of each of the first five policy years. The maturity benefit includes 110% of the Guaranteed Sum Assured on Maturity, accrued guaranteed additions, accrued paid-up additions if any, and terminal bonus if any. The death benefit formula changes depending on whether death occurs on or before completion of 10 policy years or after that point. Eligible maturity or death benefits may be settled as monthly or annual income over 10 years. Premium minimums, entry ages and available policy terms depend on the premium payment mode and selected configuration.
5.5% of Guaranteed Sum Assured on Maturity as annual guaranteed additions for the first five policy years
This plan may suit people who prefer a savings-oriented life insurance product with a defined guaranteed component rather than market-linked investment exposure. Review the Guaranteed Sum Assured on Maturity, guaranteed additions, death benefit calculation, policy term, premium payment term and surrender conditions before buying. The published minimum premium is ₹5,250 per month for eligible limited/regular-pay configurations, while single-pay starts at ₹1,00,000; these are minimums, not a personalised quotation. Paid-up additions and terminal bonus, if any, are not guaranteed. Compare the official benefit illustration against your savings goal and budget, and evaluate the effect of early surrender before committing.
Axis Max Life
Key Insights
Founded
2000
Axis Max Life was established 26 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.7% CSR, calculated as a 3-year average
Axis Max Life settles 99.7% of all claims it receives, demonstrating strong credibility.
Contact Details
1860-120-5577
Headquarters: Jacaranda Marg, DLF Phase 2, Sector 25, Gurugram, Haryana – 122002, India
The plan provides guaranteed additions equal to 5.5% of the Guaranteed Sum Assured on Maturity at the end of each of the first five policy years.
Subject to policy conditions and the selected policy configuration.
The maturity benefit includes 110% of the Guaranteed Sum Assured on Maturity, accrued guaranteed additions, accrued paid-up additions if any, and terminal bonus if any.
Paid-up additions and terminal bonus, if any, are not guaranteed.
If death occurs on or before completion of 10 policy years, the payable benefit includes the Guaranteed Death Benefit, accrued guaranteed additions, paid-up additions if any, and terminal bonus if any.
The exact Guaranteed Death Benefit is calculated according to the policy contract.
For death after 10 policy years, the plan specifies 110% of the Guaranteed Death Benefit along with accrued guaranteed additions, paid-up additions if any, and terminal bonus if any.
Refer to the policy contract for the definition and calculation of Guaranteed Death Benefit.
Eligible maturity or death benefits may be converted into regular income over 10 years, with monthly or annual payout modes.
Availability and payout calculations are governed by policy terms.
Provides an additional death benefit when the insured dies under covered circumstances.
Optional rider subject to availability, underwriting and rider terms.
May waive eligible future premiums following specified covered events, including covered critical illness or dismemberment.
Optional rider. Covered events and eligibility are defined in the rider contract.
Conditions or treatments that the policy clearly says it will not cover.
Insurer
Axis Max Life plans and claim process
It is a non-linked, participating individual life insurance savings plan that combines life cover with guaranteed additions and maturity benefits under policy terms.
The official leaflet lists a minimum monthly premium of ₹5,250 for eligible limited/regular-pay configurations and ₹1,00,000 for single pay. Taxes, modal extras and underwriting extras may apply.
The plan specifies guaranteed additions equal to 5.5% of the Guaranteed Sum Assured on Maturity at the end of each of the first five policy years, subject to policy terms.
Disclaimer: Premium amounts are indicative and may vary based on age, health, and plan selected. Claim settlement ratios are from IRDAI Annual Reports. Finzony is not an insurance broker or agent. Verify all details on the official Axis Max Life website before purchasing.
Official Website
maxlifeinsurance.com
Visit the official Axis Max Life website for plan brochures, premium quotes and policy services.
The aforementioned ratios have been averaged over three years (FY24-FY26)
Provides additional protection for covered accidental death or dismemberment.
Optional rider subject to eligibility, exclusions and policy conditions.
The maturity benefit includes 110% of the Guaranteed Sum Assured on Maturity, accrued guaranteed additions, accrued paid-up additions if any, and terminal bonus if any.
The benefit includes the Guaranteed Death Benefit and applicable additions or bonus. The formula provides 110% of the Guaranteed Death Benefit for death after 10 policy years; see the policy contract for details.
Eligible maturity or death benefits may be converted into regular income over 10 years, with monthly or annual payout modes, subject to policy terms.
The plan leaflet lists annual, semi-annual, quarterly and monthly payment modes for eligible configurations. Single-pay options have separate conditions.
The maximum maturity age varies by payment mode: up to 75 years for single pay, 80 years for limited pay and 65 years for regular pay, subject to the current prospectus.
The insurer lists Term Plus, Waiver of Premium Plus and Accidental Death and Dismemberment riders. Availability, underwriting and additional premiums depend on the chosen policy configuration.
No. The plan specifies guaranteed additions, but paid-up additions and terminal bonus, if any, are not guaranteed.
Surrender conditions and payable values are determined by the policy contract. Early surrender may result in receiving less than the total premiums paid.
Tax treatment depends on prevailing tax laws, eligibility and the policyholder’s circumstances. Confirm current rules before relying on any tax benefit.