Axis Max Life Savings Advantage Policy

Axis Max Life Savings Advantage Policy is a participating, non-linked individual life insurance savings plan. This plan caters to the need for a sound financial plan that can support the insured individual's family in case of an unexpected event. For any kind of needs such as buying a car, planning for the child's education/marriage, owning a farmhouse after retirement, etc., one would need a financial breakthrough where one can sustainability save for fulfilling all his/her life stage requirements.

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  • 4.8++ Rated
  • 10.5 Crore Registered Consumer
  • 51 Partners Insurance Partners
  • 5.3 Crore Policies Sold

Investment Plans

  • Plan starting from ₹1,000/month
  • Save upto ₹46,800 in Tax under section 80C^
  • Zero LTCG Tax
  • In built life cover
Top performing plans˜ with High Returns**
Invest ₹10K/Month & Get ₹1 Crore# Tax-Free*
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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

This Axis Max Life Savings Advantage Plan from Axis Max Life could help one to grow saving and build a reliable source to seek support for all his/her life stage needs while getting the risk coverage at the same time. This would also help the insured individual take care of loved ones during an exigency.

Axis Max Life Savings Advantage Policy

Parameters Details 
Policy Tenure 10 to 30 years
Premium Paying Term 5 to 12 years
Premium Paying Mode Annual, Semi-annual, Quarterly, and Monthly.
Entry Age 8 to 65 years
Maturity Age 18 to 75 years. (80 years for limited pay)
Grace Period 30 days.
Sum Assured Minimum: 1 Lakh
Liquidity Loans are available under this plan After the plan has acquired a surrender value.

Benefits of the Axis Max Life Savings Advantage Plan

The key benefits of the Axis Max Life Savings Advantage Plan are as follows:

  • Guaranteed Benefit: This policy provides a guaranteed 5.5% of Assured Sum Guaranteed on the Maturity as Guaranteed Additions at the termination of every year for the first five running years to boost the benefits.

  • Death Benefit: In the event of unfortunate death of the insured individual on or before completion of 10 plan years, Assured Death Benefit including the accrued Guaranteed Additions, Terminal Bonus, and Paid-Up Additions, if any, would be paid-out. In case of demise of the insured after 10 policy years, 110% of Assured Death Benefit including accumulated Assured Additions, Terminal Bonus, and Paid-Up Additions, if any, would be paid-out.

  • Maturity Benefit: The insured individual would get 110% of Assured Amount, which is guaranteed on Maturity, including accumulated Guaranteed Additions, Terminal Bonus and Paid-Up Additions, if any.

  • Commutation and Settlement Benefit: The insured individual/nominee or beneficiary, as the condition may be, will have the flexibility to convert the total amount (lump sum) on maturity benefit/death benefit into a regular income for 10 years based on his/her requirement.

  • Tax Benefits: One will be entitled to tax benefits on the paid premiums and benefits received by the insured individual as per the existing tax laws. These benefits on premiums are subjected to Alterations/Regulations under Section 80C and Section 10(10D), as per the Income Tax Act of 1961, which is entitled to be amended from time-to-time.

* Tax benefits are subjected to certain changes in tax laws

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The Premiums for Axis Max Life Savings Advantage Policy

The choice of the Premium Payment Tenure and Policy Tenure/Terms that the insured individual might choose will have the flexibility to opt from various policy terms and premium payment terms as per one's requirement. Hence, this feature enables the assured life to decide the period for which he/she wishes to save and the period when one wants to fulfil certain life stage requirements. 

The policy allows yearly, semi-annual, quarterly, and monthly modes of premium installments. The model of the installment options are as follows:

  • Yearly/Annually: 1.000,

  • Semi-Annual: 0.520,

  • Quarterly: 0.265,

  • Monthly: 0.090

The mode of Premium Payment could be changed anytime during the Axis Max Life Savings Advantage Plan term conditioned that it meets the minimum premium requirement criteria (provided that the policy is still in action). One can also visit their official website and use the Axis Max Life Savings Advantage Policy calculator to find out the total premium. Premium rates and benefits are uni-sex (same for all gender, i.e., male, female, and transgender) as well as uni-smoker.

Additional Riders for Axis Max Life Savings Advantage Plan

The plan offers the following 3 riders, namely: Axis Max Life Term Plus, Axis Max Life Accidental Dismemberment and Death Rider, and Axis Max Life Waiver of The Premium Plus Rider.

Eligibility for Axis Max Life Savings Advantage Policy

  • Entry Age

    • Minimum: 8 years

    • Maximum: Single Pay 65 years, Limited Pay 60 years, and Regular Pay 45 years

  • Maturity age

    • Minimum: 18 years

    • Maximum: Single Pay 75 years, Limited Pay 80 years, and Regular Pay 65 years

What are the Documents Required to Buy this Policy?

To buy the Axis Max Life Savings Advantage Plan, the assured life would have to arrange the following documents:

  • Address proof - maintenance bills, passport, ration card, electricity bill, Aadhaar card, or voter's card

  • Income proof - bank statements, valid salary slips, or Income tax return.

  • Identity proof - driving license, passport, voter's card, ration card, or Aadhar card.

How to Buy this Plan Online?

One cannot buy Axis Max Life Savings Advantage Plan online but can request a call back by visiting the official website of Policybazaar. To buy this plan, one can visit their website, have the required documents available, and buy the policy from them. But before making any decision, one should make sure that he/she has gone through the Axis Max Life Savings Advantage Plan reviews and compare plans online.

Exclusions of Axis Max Life Savings Advantage Plan

Axis Max Life Savings Advantage Plan includes a suicide exclusion, which states, the insured individual, may it be minor or major, sane or insane, unfortunately, and dies by suicide within a year (12 months) of the effective period of the enforcement or the date of the revival of the plan, the policy shall end immediately. In such cases, the assured life would be paid by the Company, Higher of the Surrender Value or all premiums Paid in addition to the extra underwriting premiums paid. This also includes loadings for the modal premiums paid in events of the plan not acquiring a surrender value.

FAQ's

  • How can one know the status of the Axis Max Life Savings Advantage Plan?

    To get information about the Axis Max Life Savings Advantage Plan Status, one can either call or mail the insurer.
  • Are nominations and assignments allowed?

    Yes, under Axis Max Life Savings Advantage Plan, assignments and Nominations will be allowed.
  • What is the Free Look Period?

    One will have a time limit of 15 days as a free look period.
  • What is the period to revive the lapsed Policy?

    Once the plan has lapsed, it can be revived only within five years (revival period) from the first unpaid premium due date.
  • What is the plan coverage?

    All individuals are covered (Males, Females, Transgender, etc.)
  • What is the minimum loan amount?

    The minimum loan amount which can be availed under the plan at any time, as long as the policy is in action, would be Rs.10,000.
  • What is the loan interest rate?

    The present loan interest rate is fixed at 9.9% p.a. which would be compounded annually.

˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Axis Max Life Traditional Plans Reviews & Ratings

4.6 / 5 (Based on 1286 Reviews)
(Showing Newest 10 reviews)
Divya
Ranchi, June 22, 2025
Kotak E Invest plus Policybazaar equal Win
Best combo. Policybazaars help made it stress free.
Harsha
Guwahati, June 21, 2025
Promise for Growth Plus Is Understated
It quietly delivers what it promises. Good pick.
Meera
Vellore, June 20, 2025
Click to Invest Makes Investing Fun
Simple UI digital first and a great entry level product.
Nikhil
Shimla, June 19, 2025
Goal Assure IV Seems Tailored for Me
Plan gives control over fund choice and returns.
Aditi
Vijayawada, June 16, 2025
Policybazaar Helped Me Choose Confidently
Smart Fortune Plus was explained so well. Really appreciated the clarity.
Nidhi
Indore, June 11, 2025
Birla Wealth Smart Plus Has Solid Features
Low charges and good growth options. Very happy.
Siddharth
Kochi, May 10, 2025
Pramerica Smart Invest Was a Pleasant Surprise
Didnt expect it to be this flexible. Great choice.
Aisha
Kolkata, April 09, 2025
ICICI Signature Plan Was a Smart Decision
Liked the balance between life cover and returns
Raghav
Ahmedabad, April 08, 2025
LIC Index Plus is a No Brainer
Safe low risk and time tested. I didnt have to think twice.
Amit
Guwahati, March 26, 2025
Reliable and Safe Investment
Policybazaar is reliable for investment. HDFC Life Dynamic Advantage Fund performs well and is safe for long term.
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