Axis Max Life Term Insurance Plan

Types of Axis Max Life Insurance Term Insurance Plans 

The different types of Axis Max Life Term Insurance plans are listed below: 

• Axis Max Life Smart Term Plan Plus: This non-linked, non-participating life insurance plan offers death benefits and ensures enhanced protection, including 200% total premium as special exit value and terminal illness benefits, securing your loved ones. 

Features: 

1. Select from seven plan variants. 

1. Cover continuance benefit. 

1. Insta Payment upon claim intimation. 

1. Auto rebalance of Life cover Sum Assured and ADB cover under Rebalancing Cover plan variant. 

1. Protect your monthly income with the Income Protection cover plan variant. 

1. Option for life insurance coverage up to age of 100 years with the Whole life cover variant. 

1. Inbuilt terminal illness benefit. 

1. Features for Female Life Insured: 

1. Maternity Cover: Safeguard against pregnancy-related complications and protect newborns against congenital anomalies. 

1. Lifeline Plus: Avail top-up in case of the spouse’s death, with premium rates based on inception rates and total sum assured. 

1. Female Life Discount: A 15% premium discount for female life insured throughout the premium payment term. 

• Axis Max Life Smart Secure Plus Plan: This non-linked, non-participating life insurance plan offers death benefits and enhanced protection through add-ons like special exit value and terminal illness benefits, securing your family. 

Features: 

1. Option to increase life cover with each policy anniversary. 

1. Choose between lump sum payout, monthly income, or a combination of both. 

1. Get Accelerated Critical Illness (ACI) benefit for 40 specified critical illnesses. 

1. Benefit from add-ons like Accident Cover, Critical Illness, and Disability Rider. 

1. Protect your spouse with a joint life policy under the same plan. 

1. Avail premium break option up to two times during the policy term. 

• Axis Max Life Smart Total Elite Protection Plan: This non-linked, non-participating life insurance plan offers high death benefits with reasonable premiums, including terminal illness and cover continuance benefits for added financial protection. 

Features: 

1. InstaClaim™ available on claim intimation. 

1. Special Exit Value benefit from the 30th policy year. 

1. Enhance protection with add-ons like Critical Illness, Disability Rider, Accident Cover, etc. 

1. Customize the plan with lump sum, monthly income, or a combination of both. 

1. Waiver of premium benefit in case of disability or critical illness diagnosis. 

1. Lower premiums for women and non-smokers. 

• Axis Max Life Saral Jeevan Bima: This affordable, non-linked, non-participating life insurance plan offers simple coverage up to age 70, safeguarding the financial needs of the nominee in case of untimely death. 

Features: 

1. Coverage is available from the age of 18, with a maximum entry age of 65 years. 

1. Flexible policy term options ranging from 5 to 40 years. 

1. Choose sum assured between Rs.5 lakh and Rs.25 lakh. 

1. Select from premium payment options: limited pay, regular pay, or single pay. 

1. Flexibility to pay premiums monthly, semi-annually, or annually. 

1. A 30-day grace period is available for missed premium payments. 

Benefits of Buying Axis Max Life Term Insurance 

The benefits of purchasing Axis Max Life Term Insurance plans are mentioned below: 

1. High Life Cover at Affordable Premiums: Provides significant life coverage at an affordable premium and earlier you buy, the lower the premium for comprehensive coverage. 

1. Protection from Illnesses: Offers substantial life cover at a cost-effective premium. 

1. Long-Term Coverage: Get insurance coverage up to age of 85 years (with a maximum term of 50 years) at an affordable price, helping secure your family’s future. 

1. Disability Benefits: Offers financial support in case of accidental disability, available with an additional premium for both temporary and permanent disabilities. 

1. Income Protection in Unfortunate Events: Term plans provide income options for the family of the insured in case of unfortunate demise of the insured, ensuring financial support during tough times. 

1. Protection Against Liabilities: The sum assured under a term plan helps dependents of the insured pay off liabilities like loans and debts, safeguarding their financial security. 

1. Riders for Additional Benefits: Add-ons like the Axis Max Life Waiver of Premium Plus Rider offer extra benefits, such as waiving future premiums under specified conditions, enhancing coverage. 

1. Multiple Premium Payment Options: Term insurance offers flexible premium payment options, including regular pay or limited pay choices for more convenience. 

1. Tax Benefits: Benefit from tax savings under Section 80C (up to Rs.1.5 lakh annually) and enjoy tax-exempt lump-sum death benefits under Section 10(10D), if opted for the old tax regime. 

Add-Ons Available with Axis Max Life Term Insurance Plans 

The following is the list of add-ons available with Axis Max Life term Insurance plans: 

1. Critical Illness and Disability Rider 

1. Accidental Death Cover 

1. Total and Permanent Disability Cover 

1. Terminal Illness Rider 

1. Waiver of Premium Plus Rider 

What Is Not Covered in a Term Insurance? 

The following are the exclusion of Axis Max Life Term Insurance plan: 

1. Suicide by the life insured 

1. Death due to a pre-existing health condition 

1. Accidental death while under the influence of alcohol 

1. Death resulting from an undisclosed smoking or drinking habit 

1. Pregnancy-related complications during childbirth 

1. Death caused by natural calamities or disasters (e.g., tsunami, earthquake) 

1. Participation in hazardous activities 

Documents Required 

The following is the list of documents required to purchase Axis Max Life Term Insurance plans are mentioned below: 

How to Purchase Axis Max Life Term Insurance Plan? 

The steps to purchase the term plans offered by Axis Max Life Insurance are mentioned below: 

1. Visit the official portal of Axis Max Life Insurance 

1. Analyse your financial needs based on age, annual income, financial goal and other factors. 

1. Click on ‘Calculate Premium’ and enter the details as asked. 

1. Select your preferred term insurance plan and multiple benefits. 

1. Select the premium payment mode and make the payment 

1. Enter the details and submit the documents to complete the process of purchasing the insurance plans.