Axis Max Life Smart Wealth Income Plan

Eligibility Criteria for Axis Max Life Smart Wealth Income Plan

Here are the key eligibility conditions for Axis Max Life Investment Plans to better understand the policy terms:

Features of Axis Max Life Smart Wealth Income Plan

Here are the key features of the plan:

• Multiple Plan Variants
  You can choose from:
  • Early Income
  • Early Income with Guaranteed Money Back
  • Deferred Income
• Policy Continuance Benefit (PCB)
  In Policy Continuance Benefit, in case the insured individual dies within the policy term, no additional premiums are paid, and all subsequent benefits are given to the nominee so that the individual would be financially stable.
• Accrual of Survival Benefits
  The plan will enable you to earn survival benefits and take them out in the future, providing flexibility and possible accumulation of interest.
• Flexible Income Period
  You can collect income until your chosen maturity age, up to 100 years in some variants, so you are guaranteed long-term financial security.
• Bonus Participation
  Being a participating plan, it can provide:
  • Annual Cash Bonus (in case proclaimed)
  • Terminal Bonus (if declared)
• Early Liquidity
  In the Early Income variants, the benefits of survival begin at the second year of policy and are more liquid, making it one of the best investment plans for those seeking early financial flexibility.

Benefits of the Axis Max Life Smart Wealth Income Plan

Here's how one can benefit from Axis Max Life Smart Wealth Income Plan:

1. Survival Benefits
   In accordance with the variant chosen, you can get:
   • Guaranteed Income
   • Guaranteed Money Back
   • Cash Bonuses (if declared)
2. Maturity Benefit
   On maturity, you receive:
   • Sum Assured on Maturity
   • Terminal Bonus (if declared)
   • Accrued benefits (if any)
3. Death Benefit
   • Without Policy Continuance Benefit:
     • Nominees receive Sum Assured on Death plus applicable bonuses. Under the death benefit without PCB:
     • Higher of 11x Annualised Premium
     • 105% of Total Premiums Paid
     • Absolute amount assured
     • Bonus component
   • With Policy Continuance Benefit:
     • The death benefit is paid, and the policy continues, ensuring all future payouts without premium payments. Under the death benefit with Policy Continuance Benefit:
     • Immediate death benefit payable
     • Future premiums waived
     • Survival/maturity benefits continue
4. Tax Benefits
   The premiums and benefits are subject to tax benefits depending on the current tax legislation.
5. Long-Term Wealth Creation
   The plan offers coverage up to age 100 (depending on the variant chosen).

Riders Under the Axis Max Life Smart Wealth Income Plan

Additional riders added to increase protection:

• Waiver of Premium Plus Rider
• Accidental Death and Dismemberment Rider.
• Term Plus Rider
• Critical Illness Rider
• Disability Rider

Such riders enable you to tailor the policy to suit your risk protection.

Policy Details of Axis Max Life Smart Wealth Income Plan

• Grace Period
  There is a grace period on payment of premiums as per policy terms. During this period, the policy remains active, and coverage continues as per the policy terms. However, if the premium is not paid within the grace period, the policy may lapse, or benefits may be affected.
• Revival
  A lapsed policy can be reinstated within the given revival time with the eyes of payment of missing premiums and terms.
• Free Look Period
  The policy is subject to review during the free look period (as per policy guidelines) and cancellation if not satisfied.
• Surrender
  Surrender value is gained by the policy having made the necessary premiums. Relevant bonuses can also be considered.
• Loan
  Loans can be taken out when the policy has gained surrender value, in accordance with the company's regulations.

Exclusions Under the Axis Max Life Smart Wealth Income Plan

• Suicidal Cover
  In case of death due to suicide within 12 months from commencement or revival, benefits are payable as per policy terms.
• Total Permanent Disability (TPD)
  TPD benefits can only be provided if they are taken under an optional rider. TPD coverage is not offered alone by the base plan.

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