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Axis Max Life Smart Wealth Plan is a non-linked, non-participating individual life insurance savings plan (UIN 104N116V16). It combines life insurance protection with guaranteed benefits according to the option selected. The four options are Lump Sum, Short Term Income, Long Term Income and Whole Life Income. Under Lump Sum, the maturity benefit comprises the guaranteed sum assured on maturity and accrued guaranteed additions, where applicable. Short Term Income pays scheduled income after the policy term. Long Term Income provides scheduled income and a terminal benefit equal to total premiums paid, subject to the policy terms. Whole Life Income provides income for the lifetime of the last surviving life under the joint-life configuration. Death benefits, premium requirements, eligibility and available policy terms vary by option. Customers should review the current prospectus and personalised benefit illustration before purchasing.
Four options: Lump Sum, Short Term Income, Long Term Income and Whole Life Income
This plan may suit customers who prefer contractual guaranteed benefits over market-linked investment returns and want to align savings with a specific financial goal. The Lump Sum option may be considered for a future milestone, while the income options may suit people who want scheduled payouts. Whole Life Income has distinct joint-life eligibility and benefit rules. Compare the premium payment term, policy term, income period, payout frequency, death benefit and surrender conditions before choosing. Do not compare plans using the advertised starting premium alone: the actual premium and benefits depend on age, selected option, premium band and policy configuration. Optional riders can add protection but may increase the premium.
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 Lump Sum option pays a maturity benefit comprising the guaranteed sum assured on maturity and accrued guaranteed additions, where applicable.
Guaranteed additions depend on entry age, premium band, gender and selected sub-variant.
Provides guaranteed income after the policy term for the payout duration chosen under the selected sub-variant.
Income amount and payout schedule depend on the policy option and terms.
Provides guaranteed income over the selected payout period. A terminal benefit equal to total premiums paid is also described for this option.
The applicable payout period, timing and terminal benefit follow the chosen policy configuration.
Offers income payments for the lifetime of the last surviving life under the joint-life option.
Eligibility, premium payment mode and death benefits differ from other options.
A death benefit is payable during the policy term, calculated according to the selected option and policy contract.
The formula and amount vary between options; refer to the official benefit illustration.
May waive eligible future premiums when a covered event occurs, subject to rider conditions.
Optional extra premium; listed for Lump Sum, Short Term Income and Long Term Income options, not Whole Life Income.
May provide additional benefits for covered accidental death or dismemberment.
Optional rider subject to eligibility, exclusions and policy terms.
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, non-participating individual life insurance savings plan that offers guaranteed benefits according to the selected option and policy terms.
The plan offers Lump Sum, Short Term Income, Long Term Income and Whole Life Income options.
The minimum premium varies by option and payment mode. The prospectus lists monthly minimums from ₹943 for an applicable option, while other options have different minimums. Confirm the current premium table before buying.
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)
Optional supplementary protection for covered critical illnesses and disability, subject to rider wording.
This is an optional rider, not the base plan benefit; availability depends on eligibility and policy configuration.
May provide an additional lump-sum death benefit under the rider terms.
Optional rider; confirm availability for the selected policy option.
The plan is non-linked and provides guaranteed benefits as specified in the policy contract. The exact benefits depend on the selected option and policy configuration.
It pays a maturity benefit consisting of the guaranteed sum assured on maturity and accrued guaranteed additions, where applicable. Guaranteed additions vary by factors such as entry age, premium band, gender and sub-variant.
Short Term Income and Long Term Income provide scheduled payouts after the applicable policy term. The payout duration and amount depend on the selected sub-variant and policy terms.
It provides income for the lifetime of the last surviving life under a joint-life configuration, subject to the option’s eligibility and policy conditions.
Yes. It provides a death benefit during the policy term. The applicable formula differs by option, so review the policy contract and benefit illustration.
The insurer lists optional riders for eligible options, including Waiver of Premium Plus, Accidental Death and Dismemberment, Critical Illness and Disability, and Term Plus. Availability differs by option and policy channel.
Surrender and early termination are governed by the policy contract and can affect the amount payable. Review the current policy document before making a decision.
Tax benefits may be available under prevailing tax laws, subject to eligibility and applicable conditions. Tax rules can change.