Axis Max Life Smart Wealth Plan

Eligibility Criteria for the Axis Max Life Smart Wealth Plan

Get to know all the eligibility conditions for Axis Max Life Investment Plans to understand your earning and saving possibilities better:

*Age as on last birthday

^Maximum entry age calculated as 72 minus PPT (subject to 65 years cap)

Features of Axis Max Life Smart Wealth Plan

• Guaranteed returns: The plan provides fully guaranteed benefits, subject to payment of all due premiums.
• Four plan variants: You can choose from Lumpsum, Short-Term Income, Long-Term Income, or Whole Life Income options at inception.
• Guaranteed additions (Lumpsum option): Under the lump sum variant, guaranteed additions accrue during the last four policy years and are payable on maturity or surrender.
• Whole Life Income with joint cover: The Whole Life Income option allows joint life coverage, and income continues until the death of the last surviving life.
• Premium payment flexibility: Premiums can be paid annually, semi-annually, quarterly, or monthly, as per the chosen variant and modal factors.
• Under the lump sum variation, guaranteed additions build up over the last four years of the policy and can be paid out at maturity or when the policy is surrendered, depending on its status.

Benefits of the Axis Max Life Smart Wealth Plan

Here are the benefits of the Axis Max Life Smart Wealth Plan for each variant:

1. Death Benefit (Variants 1, 2 & 3)
   Higher Of:
   • 11 Times Annualised Premium Plus Underwriting Extra Premium
   • 105% of Total Premiums Paid Plus Underwriting Extra Premium
   • Absolute Amount Assured On Death
   • The absolute amount assured equals total premiums paid, accumulated monthly at 8% p.a.
2. Death Benefit (Variant 4 - Whole Life Income)
   Higher Of:
   • 1.25 Times Single Premium (Single Pay)
   • 7 Times Annualized Premium (Regular Pay)
   • 105% Of Total Premiums Paid
   • Absolute Amount Assured
   • For joint life, the benefit continues until the death of the last surviving life.
3. Maturity Benefit
   • Variant 1 – Lump sum
     • Guaranteed Sum Assured On Maturity (100%–125% × Annualised Premium × PPT, depending on policy term)
     • Accrued Guaranteed additions
   • Variant 2 – Short-Term Income
     • Guaranteed Income payable for 6–12 years after policy term
   • Variant 3 – Long-Term Income
     • Guaranteed Income for 25 or 30 years
     • Terminal benefit equal to total premiums paid at the end of income period
   • Variant 4 – Whole Life Income
     • Guaranteed Income until the death of the last survivor

Riders Under the Axis Max Life Smart Wealth Plan

Optional riders can be added for additional protection, subject to underwriting approval and rider availability as per policy guidelines.

Policy Details of Axis Max Life Smart Wealth Plan

1. Grace Period
   • 30 Days For Annual, Semi-Annual, Quarterly
   • 15 Days For Monthly Mode
2. Revival
   Allowed within the policy revival period as per policy conditions.
3. Free Look Period
   15 Days (30 Days For Distance Marketing Policies)
4. Surrender
   • Surrender value equals the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
   • Single Pay: Immediate acquisition
   • Other Than Single Pay: After two full years’ premium (GSV)
5. Loan
   Available as per policy provisions after surrender value acquisition.

Exclusions Under the Axis Max Life Smart Wealth Plan

• Suicidal Cover
  In case of suicide within 12 months from risk commencement or revival, only 80% of premiums paid (or as per policy terms) shall be payable, excluding taxes and extra premiums.
• Total Permanent Disability (TPD)
  Being one of the best investment plans in India, this also has no in-built TPD under the base plan. Coverage may be available under applicable riders.

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