Features of Axis Max Life Insurance Plans
- Axis Max Life Insurance plans are available at affordable premiums, making them accessible to a wide range of customers.
- Axis Max Life Insurance plans offer flexible policy tenures, allowing policyholders to choose as per their requirements.
- Axis Max Life Insurance plans offer a grace period in case you miss your premium payment. A 15-day grace period applies to monthly payments, and a 30-day grace period applies to quarterly, half-yearly, and yearly payments.
- Policyholders can choose their premium payment frequency from monthly, quarterly, half-yearly, or yearly options.
- Axis Max Life offers life insurance products for individuals of all age groups.
Exclusions of Axis Max Life Insurance Plans
- Death due to any pandemic, such as COVID-19, is not covered.
- Death caused by engaging in adventure sports.
- Death due to the consumption of drugs or alcohol.
- Death due to any pre-existing disease not declared at the start of the Axis Max Life policy.
- If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to the nominee. Only the premiums paid to the date of the incident or the surrender value of the policy, whichever is higher, is paid.
Waiting Periods in Axis Max Life Insurance Plans
Unlike health insurance, life insurance policies generally do not have extensive waiting periods for various illnesses. The primary waiting period in Axis Max Life Insurance plans typically relates to the suicide clause.
Suicide Clause
If the policyholder commits suicide within the first 12 months from the policy's inception or revival date, the death benefit will not be paid. In such cases, only the premiums paid to date or the surrender value, whichever is higher, will be paid to the nominee. It is important to review your specific policy document for exact terms and conditions regarding waiting periods and exclusions.
Riders You Can Avail With Axis Max Life Insurance Plans
| Name of the Rider |
Benefits |
| Axis Max Life Waiver of Premium |
It waives all future premiums, and policy benefits remain the same in case of disability, dismemberment, or diagnosis of a listed critical illness. |
| Axis Max Life Comprehensive Accident Benefit Rider |
Offers financial assistance to dependents in addition to base policy benefits if the policyholder's demise is due to an accident. |
| Axis Max Life Terminal Illness Rider |
Offers financial benefits if the policyholder is diagnosed with a terminal illness. |
| Axis Max Life Total and Permanent Disability Cover |
This rider offers financial benefits if the policyholder becomes partially or totally disabled. |
| Axis Max Life Critical Illness and Disability Rider |
If the policyholder is diagnosed with any critical illness mentioned in the brochure, rider benefits are paid. |
Documents Required to Buy an Axis Max Life Insurance Policy
Here is the list of documents required to buy an Axis Max Life Insurance Policy:
-
Photo ID Proof
Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
-
Age Proof
Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
-
Address Proof
Any one of the following: Utility bill, passport, voter ID, ration card.
-
Medical Records
Medical records of the policyholder, if requested.
-
Income Proof
Any one of the following: Bank statement, last three months' salary slips (if salaried).
How to Calculate Premiums
- Visit the official website of Axis Max Life Insurance Company.
- Select the type of plan you are interested in (e.g., Term plan, Investment plan, ULIPs).
- A new window will open. Enter your basic details, including name, contact number, email address, occupation, and residence details, into the premium calculator.
- The system will display the estimated premium amount based on your inputs.
- If satisfied, you can proceed to purchase the plan, and a payment confirmation will be sent to your registered email address.
How to File Axis Max Life Insurance Claims
Every claimant/nominee is assigned a dedicated Claims Relationship Officer to assist through the entire process. The life insurance claim settlement process at Axis Max Life Insurance involves the following steps:
Online Process
1. Claim Intimation
Inform the company about the incident via various channels: email ([email protected]), toll-free number (1860 120 5577), online claim form on its website, or by visiting the nearest branch. A claim reference/intimation number will be provided upon successful registration.
2. Document Submission
You will be requested to submit the following documents to process the claim:
- In case of natural death: death claim form, death certificate issued by the local municipality, original policy documents, claimant's identity & residence proof, medical records, and nominee's account details.
- In case of accidental death: the same documents along with an FIR and post-mortem report.
3. Claim Settlement
After receiving all documents and claim forms, the insurer will verify the details. If additional details are required, they will contact you via call or email. Upon successful completion, the claim will be settled, and the amount will be transferred to the nominee's bank account, with communication via call or email.
Offline Process
Axis Max Life Insurance Company's claim settlement procedure can also be initiated by visiting a local Axis Max Life branch office. You can find branch details on their website. Submit the required documents in hardcopy at your nearest branch to file the claim.
Axis Max Life Term Life Insurance Plans
| Category |
Plan Name |
Plan Type |
Key Highlights |
| Term |
Smart Term Plan Plus (STPP) |
Pure Term |
Flagship plan with the widest range of variants, riders, and in-built benefits |
| Term |
Smart Total Elite Protection (STEP) |
Pure Term |
Simpler plan designed for high-value life cover |
| Term |
Saral Jeevan Bima |
Pure Term |
IRDAI-standardized plan for basic protection |
| Term |
Smart Secure Plus (SSP) |
Pure Term with Return of Premium |
100% return of premium on survival, exit value, and premium breaks after 10 years |
| Life (Savings) |
Smart Wealth Plan |
Non-linked, Non-participating Savings |
Four options: Lumpsum, Short Term Income, Long Term Income, and Whole Life Income |
| Life (Savings) |
Smart Wealth Advantage Guarantee Plan |
Non-linked, Non-participating Savings |
Guaranteed income, “Save the Date” payout feature, and option to accrue income |
| Life (Savings) |
Smart Wealth Income Plan |
Savings / Income |
Early Income, Early Income with Guaranteed Money Back, and Deferred Income variants |
| Life (Savings) |
Smart Value Income & Benefit Enhancer Plan |
Non-linked, Non-participating Savings |
Three variants: Insta Wealth, Future Wealth, and Future Wealth Boost |
| Life (Savings) |
Smart Wealth Advantage Growth Par Plan |
Participating Savings |
Cash bonus, if declared, plus guaranteed income, depending on the |
Conclusion
Axis Max Life Insurance (formerly Max Life) is a trusted insurer with a 99.8% claim settlement ratio and a 2.01x solvency ratio, offering term, ULIP, savings, retirement and child plans. Read the policy exclusions and disclose your medical history accurately before buying. Compare plans and get a free quote on PolicyX, or call 1800-4200-269.
For more information about Axis Max Life Insurance Company, visit PolicyX.com or call us at 1800-420-0269. Our insurance experts will understand your unique needs and help you choose a plan that best suits you.
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