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In Unit Linked Insurance Policies, the investment risk is borne by the policyholder. These insurance products do not offer any liquidity in the first 5 years, as they have a mandatory lock-in period of 5 years. During this period, the policyholder cannot fully or partially withdraw the invested amount or surrender the policy.
Axis Max Life Maxis Super Plan
Axis Max Life Maxis Super Plan is a Unit Linked Insurance plan with dual benefit of wealth maximization and life insurance coverage under a single plan
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Max Life Ulip Plans
- Axis Max Life Maxis Super Plan
Key Features
- It is a ULIP plan with Limited Pay option of premium payment
- 11, 15 or 20 times the annual premium can be chosen as the Sum Assured as per requirement based on the age of the insured
- There is a Dynamic Fund Allocation option, under which the funds are initially maintained in Growth Super Fund and gradually transferred to Secure Fund towards policy maturity.
- This option maintains a specified ratio of fund value in Growth Super and Secure Fund which changes with increasing policy term
- The following funds are available for investment
- Growth Super Fund
- Growth Fund
- Balanced Fund
- Conservative Fund
- Secure Fund
Benefits
- The insured will get the total Fund Value on Maturity which can be taken in instalments over a period of 5 years through the Settlement Option
- On death of the policyholder, Sum Assured + Fund Value subject to a minimum of 105% of all premiums paid till death is payable
- Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.
Product Specification:
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
18 years |
55 years |
|
Maturity Age (Last Birthday) |
- |
70 years |
|
Policy Term (PT) in years |
15 |
|
|
Premium Paying Term (PPT) in years |
7 Pay or 10 Pay |
|
|
Yearly Premium |
35,000 |
No limit |
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Premium Payment Frequency |
Annual |
|
|
Sum Assured |
385,000 |
No limit |
Details About Premium
Annual Premium in Rupees and Benefit Illustration for a term and PPT of 20 years
|
Age (years) |
Premium |
7 Pay |
10 Pay |
||
|
Fund Value @ 4% |
Fund Value @ 8% |
Fund Value @ 4% |
Fund Value @ 8% |
||
|
30 |
50,000 |
404,020 |
654,631 |
580,654 |
884,937 |
|
35 |
75,000 |
591,628 |
963,874 |
856,579 |
13,09,333 |
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns | |
|---|---|---|---|---|---|
| Bandhan Life Debt Fund | ₹40.54 | ₹91 Cr | 5.34% | 6.2% | |
| Bandhan Life Secure Fund | ₹29.14 | ₹48 Cr | 5.33% | 4.5% | |
| Bandhan Life Blue Chip Equity Fund | ₹31.16 | ₹189 Cr | 8.31% | 11.26% | |
| Bandhan Life Stable Fund | ₹33.37 | ₹14 Cr | 5.91% | 8.61% | |
| Bandhan Life Accelerator Fund | ₹48.97 | ₹195 Cr | 10.09% | 12.88% | |
| Bandhan Life Opportunity Fund | ₹41.03 | ₹238 Cr | 13.72% | - | |
| Aegon Balanced | ₹45.36 | ₹12 Cr | 6.22% | 8.76% | |
| Aegon Enhanced Equity | ₹70.58 | ₹104 Cr | 10.25% | 12.55% | |
| Aegon Pension Balanced | ₹51.8 | ₹2 Cr | 7.1% | 9.28% | |
| Aegon Pension Debt | ₹32.22 | ₹4 Cr | 5.18% | 5.99% | |
| Aegon Pension Enhanced Equity | ₹115.3 | ₹15 Cr | 10.72% | 12.86% | |
| Aegon Pension Index | ₹87.63 | ₹5 Cr | 6.38% | 10.95% | |
| Aegon Pension Secure | ₹28.96 | ₹1 Cr | 4.73% | 4.91% | |
| Aegon Life Group Equity Fund | ₹60.89 | ₹11 Cr | 11.26% | - | |
| Bandhan Life Flexi Cap Fund | ₹11.38 | ₹98 Cr | - | - | |
| Bandhan Life Mid Cap Fund | ₹10.07 | ₹92 Cr | - | - |
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Policy Details
- Grace Period: 30 days grace is allowed for premium payment after which the policy lapses
- Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy after 5 completed years. If surrendered before 5 years, the fund value net of discontinuation charge will be credited to the Linked Discontinued Policy Fund where it will earn a minimum of 4% p.a. growth. After completion of 5 years, the fund value in the Discontinued Policy fund as on that date will be paid to the policyholder. If surrendered after 5 completed policy years, the entire Fund value on the date of surrender is paid without any charges
- Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
People also read: Axis Max life mid cap fund
Inclusions
- 2 free Partial withdrawals are allowed every year after 5 completed policy years with a minimum value of Rs.5,000
- 12 free Switches are allowed every year for switching between funds
- 6 free Premium Redirections are allowed every year for redirecting future premiums into another fund
Exclusions
- The benefit paid in case of suicide within 12 months of policy inception or revival is the fund value as on that date.
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history and submit KYC documents.
Insurers Offering ULIPs
Disclaimer: Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar Insurance Brokers Private Limited does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI 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