Is my investment guaranteed in Axis Max Life Flexi Wealth Plus?

No the investment portion of ULIPs is subject to market risks. The value of your funds can go up or down based on market performance.Â

Can I access my money anytime I need it while investing in Axis Max Life Flexi Wealth Plus?

No there is a mandatory 5 year lock-in period. You cannot withdraw any money, partially or fully until this 5 year period is over.

How do Loyalty Additions and Wealth Boosters work?

These are additional units or amounts added to your fund value as a reward for staying invested for a longer term. Guaranteed Loyalty Additions are typically added annually from the 6th year, while Guaranteed Wealth Boosters are added every 5 years starting from the 10th policy year, provided all premiums are paid.

What happens if I stop paying premiums?

In that case, your policy may become discontinued. The treatment of your policy will depend on whether you discontinue it within or after the 5 year lock-in period, and charges may apply. You may lose some or all of your benefits. It's best to consult the policy document or your advisor.

Can I change my investment strategy after some time?

Yes, Axis Max Life Flexi Wealth Plus offers flexibility. You can switch between different investment funds and strategies without charges (unlimited free switches). You can also redirect future premiums to different funds up to six times a year.

What is Return of Mortality Charges (RoMC)?

This is a unique benefit where the total amount of mortality charges (the cost of your life insurance cover) deducted throughout your policy term is added back to your Fund Value at maturity, provided all your premiums have been paid up to date.

Axis Max Life Flexi Wealth Plus Plan

Axis Max Life Flexi Wealth Plus is a Unit Linked Insurance Policy (ULIP). It is a Unit Linked, Non-Participating, individual Life Insurance Plan that combines life insurance protection with investment opportunities, enabling you to keep your family protected while growing your wealth.

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In built life cover

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Fund Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

High Growth Fund

Max Life

AUM:9,223 Cr

9,223 Cr

NAV

117.8

-1.18%

Returns

31.41%

Highest Returns

Returns

27.23%

Returns

18.4%

Get Details

Top 200 Fund

Tata AIA

AUM:2,188 Cr

2,188 Cr

NAV

178.96

-1.39%

Returns

25.93%

Returns

31.64%

Highest Returns

Returns

17.46%

Get Details

Accelerator Mid-Cap Fund II

Bajaj Allianz

AUM:5,410 Cr

5,410 Cr

NAV

83.89

-0.81%

Returns

22.05%

Returns

24.63%

Highest Returns

Returns

15.19%

Get Details

Opportunities Fund

HDFC Standard

AUM:35,672 Cr

35,672 Cr

NAV

78.5

-0.72%

Returns

23.03%

Returns

26.34%

Highest Returns

Returns

15.33%

Get Details

Equity II Fund

Canara HSBC Oriental Bank

AUM:3,509 Cr

3,509 Cr

NAV

42.02

-0.20%

Returns

15.54%

Returns

19.68%

Highest Returns

Returns

10.65%

Get Details

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Disclaimer :
˜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

How Does Axis Max Life Flexi Wealth Plus Plan Work?

Axis Max Life Flexi Wealth Plus uniquely combines protection and savings. As per this Axis Max ULIP plan, your Sum Assured on death is determined based on your choices, and your premiums are invested in your selected investment strategy and funds. Upon maturity, you receive your Fund Value as a lump sum. In the unfortunate event of the Life Assured's death during the policy term, the nominee receives the Death Benefit.

Key Features of Axis Max Life Flexi Wealth Plus

As a ULIP designed to maximize returns with flexibility, the Axis Max Flexi Wealth Plus offers the following features:

Feature	Specifics
Product Type	A Unit Linked Non-Participating Individual Life Insurance Plan.
Broad Coverage	Available to all individuals in accordance with the Board Approved Underwriting Policy.
Flexible Entry & Maturity Ages	Entry: Wealth Variant from 91 days; Whole Life Variant from 18 years. Maturity: Wealth Variant 18-80 years; Whole Life Variant up to 100 years.
Customizable Terms	Policy Term: Wealth Variant: 10-30 years; Whole Life Variant: 100 - Entry Age. Premium Payment Term (PPT): Wealth Variant: Single Pay; Limited Pay (1-29 years); Regular Pay (10-30 years, equal to Policy Term). Whole Life Variant: Limited Pay: 7-20 years.
Flexible Premiums	Opt for Single, Annual, Semi-Annual, Quarterly, or Monthly payments. Minimum premium varies by plan; no maximum limit, subject to underwriting.
Adjustable Sum Assured	Minimum Sum Assured varies by variant (e.g., Wealth Single Pay from ₹2,50,000/₹20,00,000; Whole Life Limited Pay from ₹10,00,000); no maximum limit, subject to underwriting.
Death Benefit	On the death of the Life Insured, the nominee receives the highest of: Sum Assured (reduced by applicable partial withdrawals from Fund Value in preceding 2 years) Fund Value on date of death, or 105% of total premiums received up to death (reduced by applicable partial withdrawals).
Maturity Benefit	At maturity, the policyholder receives the Fund Value.
Free-Look Period	You have 15 days (30 days if purchased through Distance Marketing) from receiving the policy to review it. If you're not satisfied, you can return it and get a refund of the Fund Value and unallocated premium, after deducting charges for mortality, riders, medical tests, and stamp duty.
Guaranteed Loyalty Additions (GLA)	Starting from the 6th year, you get a yearly bonus added to your Fund Value. This bonus is 0.25% or 0.40%, depending on how much premium you pay each year. You get this only if all your premiums are paid on time.
Guaranteed Wealth Boosters (GWB)	Every 5 years starting from the 10th year, you get an extra bonus of 2% added to your Fund Value. This also depends on your premium amount and is given only if all premiums are paid on time.
Option to Reduce Premium	Reduce original Annualized Premium by up to 50% only once, after the 5-year lock-in period, provided all due premiums have been paid.
Surrender Option	Policy can be surrendered anytime. You'll get your Fund Value after deducting surrender charges. Once surrendered, the policy cannot be revived. Payout rules follow policy terms.
Diverse Investment Strategies	Options include: Self-Managed Portfolio, Lifecycle-based Portfolio, Trigger-based Portfolio, Systematic Transfer Plan, and Dynamic Fund Allocation Strategy.
Flexibility in Policy & Premium Term	Increase or decrease Policy Term or Premium Payment Term is allowed once after lock-in period, subject to all due premiums being paid. Not applicable for single pay premiums.
Settlement Option	You may opt to receive maturity benefits in periodic payments for up to 5 years after the Maturity Date. Fund Management Charges continue during this period.

Examples of Axis Max Life Flexi Wealth Plus

Wealth Variant

Let's understand how the Axis Max Life Flexi Wealth Plus plan works. The following example shows potential outcomes under assumed investment returns (4% and 8% per year).

Example 1: Rahul's Wealth Building Plan

Rahul, 35, chose the Wealth Variant to save for his child's education.

Annual Premium: ₹1,00,000

Premium Payment Term: 5 years

Policy Term: 10 years

Scenario A: Rahul Lives and Saves till Maturity (10 Years)

If Rahul lives and completes his plan, here's what he could receive at maturity (end of year 10):

Benefit Type	At 4% Assumed Return	At 8% Assumed Return
Guaranteed Loyalty Additions (GLA)	₹6,457	₹8,205
Guaranteed Wealth Boosters (GWB)	₹8,682	₹7,386
Return of Mortality Charges (RoMC)	₹10,717	₹14,723
Total Maturity Payout (Fund Value)	₹5,56,594	₹7,60,100

Scenario B: Unexpected Event – Rahul Passes Away in Year 3

If Rahul unfortunately passes away at the end of the 3rd year (after paying 3 premiums), his nominee gets a Death Benefit.

The nominee receives the highest of these three amounts:

What's Compared	Amount	Why This Amount?
1. The Main Promise (Sum Assured)	₹10,00,000 (Ten Lakh Rupees)	This was the fixed amount agreed upon when Rahul bought the policy.
2. More Than Money Paid In	₹3,15,000 (Three Lakh Fifteen Thousand Rupees)	This is a little bit more (5% extra) than the ₹3,00,000 Rahul paid in premiums.
3. What His Investment Grew To	Around ₹2,84,139 to ₹3,06,965	This is how much the investment part of his policy grew to (depending on how well it performed).
Result: Payout to Nominee	₹10,00,000	Because this is the largest amount out of the three options!

Whole Life Variant

Example 2: Priya's Lifelong Security Plan

Priya, aged 35, opts for the Whole Life Variant with an Annual Premium of ₹1,50,000, a 7-year Premium Payment Term, and a 65-year Policy Term (covering her until age 100).

Scenario	Benefit	At 4% Assumed Return	At 8% Assumed Return
Survival (Maturity)	Total Maturity Payout (Fund Value) Includes GLA, GWB, RoMC	₹69,39,456	₹7,31,45,873
Death in Year 40 (Age 75)	Death Benefit Paid to Nominee (Highest of Sum Assured, 105% Premiums, Fund Value)	₹30,63,704	₹1,25,96,895

Note: Actual returns can vary as your investment is linked to the market.

Steps to Create Your Axis Max Life Flexi Wealth Plus Plan

To choose a plan of Axis Max Life Flexi Wealth Plus, the following 5 easy steps are to be followed:

Step 1: Choose either the Wealth Variant or the Whole Life Variant.

Step 2: Select the premium amount you wish to invest regularly.

Step 3: Decide your Premium Payment Term & Policy Term of the plan.

Step 4: Choose your Mode of Payment: Monthly, Quarterly, Semi-Annual, or Annual payments.

Step 5: Choose your Investment options that align with your individual risk appetite and financial goals.

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Additional Information About the Plan (Charges & More)

When considering Axis Max Life Flexi Wealth Plus, it's helpful to understand how ULIP charges work and what other options are available:

Charge Name	How It Works	When/How It's Taken
Premium Allocation	Deducted directly from your premium payment.	Single Pay: 4% of the single premium. Limited & Regular Pay (as % of premium): 6.0% (Year 1), 5.0% (Year 2), 4.5% (Year 3), 4.0% (Years 4-10), and 0% (Year 11 onwards).
Policy Administration	Charged by cancelling units from your fund to cover policy management.	Levied monthly. Varies by premium payment frequency and policy year (e.g., 0.10% or 0.20% per month for the first 10 years, increasing 5% p.a. from 13th month). Zero from Year 11 onwards. Capped at ₹500/month.
Fund Management	Daily charge levied as a percentage of your investment fund's value by adjusting the Net Asset Value (NAV).	Rates are guaranteed annually: Typically 0.90% for low-risk debt funds (e.g., Secure Fund), 1.10% for balanced funds, and 1.25% for high-risk equity funds (e.g., Growth Super Fund). Discontinuance Policy Fund is 0.50%.
Mortality	Charge for your life cover, based on your 'Sum at Risk' (SAR).	Deducted monthly by cancelling units. Varies by your attained age and gender. SAR is defined as Max (Max (Sum Assured, 105% of all premiums paid) less applicable partial withdrawals - Total Fund Value, 0).
Surrender / Discontinuance	Applied if you discontinue the policy before maturity.	Charges apply if discontinued within the first 4 policy years, becoming 0% from Year 5 onwards. The charge is the lower of a percentage of premium/fund value or a fixed amount, varying by premium type (single/regular) and annual premium amount.
Switch	For moving your investments between different funds.	No charge; you can switch any number of times in a policy year.
Premium Redirection	For changing the allocation of your future premiums to different funds.	No charge; a maximum of six (6) redirections are allowed in any policy year.
Partial Withdrawal	For withdrawing a portion of your fund value.	Free of any charge; a maximum of twelve (12) withdrawals are allowed in any policy year.

Conclusion

Axis Max Life Flexi Wealth Plus is the perfect solution if you look for essential life insurance protection with dynamic wealth creation opportunities. Its customizable features, diverse investment options, and loyalty benefits ensure securing their family's financial future while aiming for substantial long-term wealth growth. Meet your unique financial objectives and navigate life's uncertainties with greater confidence with Axis Max Life Flexi Wealth Plus.

FAQs

Is my investment guaranteed in Axis Max Life Flexi Wealth Plus?

No the investment portion of ULIPs is subject to market risks. The value of your funds can go up or down based on market performance.
Can I access my money anytime I need it while investing in Axis Max Life Flexi Wealth Plus?

No there is a mandatory 5 year lock-in period. You cannot withdraw any money, partially or fully until this 5 year period is over.
How do Loyalty Additions and Wealth Boosters work?

These are additional units or amounts added to your fund value as a reward for staying invested for a longer term. Guaranteed Loyalty Additions are typically added annually from the 6th year, while Guaranteed Wealth Boosters are added every 5 years starting from the 10th policy year, provided all premiums are paid.
What happens if I stop paying premiums?

In that case, your policy may become discontinued. The treatment of your policy will depend on whether you discontinue it within or after the 5 year lock-in period, and charges may apply. You may lose some or all of your benefits. It's best to consult the policy document or your advisor.
Can I change my investment strategy after some time?

Yes, Axis Max Life Flexi Wealth Plus offers flexibility. You can switch between different investment funds and strategies without charges (unlimited free switches). You can also redirect future premiums to different funds up to six times a year.
What is Return of Mortality Charges (RoMC)?

This is a unique benefit where the total amount of mortality charges (the cost of your life insurance cover) deducted throughout your policy term is added back to your Fund Value at maturity, provided all your premiums have been paid up to date.

˜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.
^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.
+Returns Since Inception of LIC Growth Fund
¶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
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.