Axis Max Life Smart Wealth
  • Guaranteed maturity benefits
  • Guaranteed additions
  • Joint life option
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Axis Max Life Smart Wealth

Axis Max Life Smart Wealth Income Plan is a combination of insurance and savings that protects your loved ones financially in your absence and guarantees survival returns. This plan comes underneath four plan options and you can choose the one that best suits your needs.

Axis Max Life Smart Wealth Income Plan is a non-participating, non-linked savings life insurance plan. We will read the plan in detail in the section below for more clarity and better understanding.

Axis Max Life Smart Wealth Income Plan offers you a range of benefits including:

why-choose
  • Maturity returns
  • Death benefit
  • Guaranteed additions
  • Whole-life income with a joint life option
  • Rider protection
  • Surrender option
  • Reduced paid-up

Eligibility Criteria for Axis Max Life Smart Wealth

Your Occupation

Entry age

Min- 91 days, Max- 59 years

Mukhyamantri Amrutam Yojana

Maturity age

85 years

Your Gender

Policy tenure

6 to 20 years

Maternity Benefit Rider

Premium payment term

Based on the policy term

Dr YSR Aarogyasri Trust

Premium payment frequency

Monthly, Quarterly, Half-yearly, and Yearly

Maternity Benefit Rider

Sum assured

No Limit

How Does Axis Max  Smart Wealth Plan Work? 

Let’s understand how different plan options of the Axis Max  Life Smart Wealth Plan work with the help of an illustration table.

Mr Verma aged 35 years chooses the Axis Max Life Smart Wealth Plan.

1. Lump sum variant

Mr. Verma aged 35 years chooses the Lump Sum variant of the Axis Max  Life Smart Wealth Plan.

Policy Term Premium Payment Term Annual Premiums Total premium amount Guaranteed sum assured Accrued additions Total maturity benefits Death benefits
16 years 8 years Rs 1 lakh Rs 8 lakhs Rs 11,20,000 Rs 4,77,080 Rs 15,97,080 Rs 21,26,240

The death benefits payable are higher of the three:

  • 11 times the annual premiums which is 11 lakhs.

  • 105% of total premiums paid which is Rs 8,40,000.

  • Premiums are paid yearly with 8% interest accrued which is Rs 21,26,240.

2. Short-term income variant

Mr Verma aged 35 years chooses the Short-Term Income variant of the Axis Max life Smart Wealth Plan.

Policy Term Premium Payment Term Annual Premiums Total premium amount Annual income benefits Total income benefits Death benefits
13 years 12 years Rs 1 lakh Rs 12 lakhs Rs 2,19,510 Rs 26,34,120 Rs 22,13,520

Mr. Verma will receive an annual income of Rs 2,19,510 starting from the 14th year till the end of the 25th year. 

The death benefits payable are higher of the three:

  • 11 times the annual premiums which is 11 lakhs.

  • 105% of total premiums paid which is Rs 12,60,000.

  • Premiums are paid yearly with 8% interest accrued which is Rs 22,13,520.

3. Long-term income variant

Mr. Verma aged 35 years chooses the Long Term Income variant of the Axis Max  Life Smart Wealth Plan.

Policy Term Premium Payment Term Annual Premiums Total premium amount Annual income benefits Total income benefits Death benefits
7 years 6 years Rs 1 lakh Rs 6 lakhs Rs 44,750 Rs 13,42,500 Rs 11 lakhs

Mr. Verma will receive an annual income of Rs 44,750 starting from the 8th year till the end of the 37th year along with terminal benefits of Rs 6,00,000 at the end of the policy tenure.

Total benefits = Rs. 13,42,500 + 10,00,000= Rs 23,42,500

The death benefits payable are higher of the three:

  • 11 times the annual premiums which is 11 lakhs.

  • 105% of total premiums paid which is Rs 6,30,000.

  • Premiums are paid yearly with 8% interest accrued which is Rs 8,55,660.

4. Whole life income option

Mr. Bajaj aged 50 years chose the Whole Life Income option of the Axis Max life smart wealth plan for himself and his wife aged 45 years.

Policy Term Premium Payment Term Premium amount Annual payout Total income benefits Death benefits
5 years Single pay Rs 10 lakhs Rs 66,900 Rs 29,43,600

  • Rs 12.5 lakhs on the first death

  • Rs 10 lakhs on second partner’s death

Mr. Bajaj will receive an annual income of Rs 66,900 starting from the 6th year till the end of the 49th year along with a return of a single premium paid of Rs 10 lakhs at the end of the policy tenure.

Total benefits= Rs 29,43,600 + 10,00,000= Rs 39,43,600

Features of Axis Max Life Smart Wealth

Here are some features of Axis Max Life Smart Wealth:

Axis Max Life Investment Plans

Axis Max Life Smart Wealth

Axis Max Life Smart Wealth

Axis Max Life Smart Wealth Income Plan is a combination of insurance and savings that protects your loved ones financially in your absence and guarant...

Unique Features

  • Guaranteed maturity benefits
  • Guaranteed additions
  • Joint life option

Axis Max Life Smart Wealth (Pros)

Axis Max Life Smart Wealth
  • Maturity returns
  • Death benefit
  • Guaranteed additions

Axis Max Life Smart Wealth (Cons)

Axis Max Life Smart Wealth
  • Suicidal benefit not covered
  • Air accident not covered

Axis Max Life Smart Wealth (Other Benefits)

Axis Max Life Smart Wealth
  • Whole-life income with a joint life option
  • Rider protection
  • Surrender option
  • Reduced paid-up

Axis Max Life Smart Wealth (Eligibility Criteria)

Axis Max Life Smart Wealth
  • Minimum entry age- 91 days
  • Maximum entry age- 59 years
  • Sum assured- No Limit
  • Maximum policy term- 12 years

Whole Life Super

Whole Life Super

Axis Max Life Whole Life Super is a non-linked, participating life insurance savings plan. It offers lifetime protection up to 100 years of age, in re...

Unique Features

  • Lifetime coverage
  • Flexible premium payment option
  • Receive Bonus

Whole Life Super (Pros)

Whole Life Super
  • Lifetime coverage
  • Flexible premium payment option
  • Receive Bonus

Whole Life Super (Cons)

Whole Life Super
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

Whole Life Super (Other Benefits)

Whole Life Super
  • Death benefits
  • Maturity benefits
  • Tax benefits

Whole Life Super (Eligibility Criteria)

Whole Life Super
  • Minimum entry age- 18 years
  • Maximum entry age- 60 years
  • Minimum sum assured- Rs 50000
  • Maximum sum assured- No limit
  • Maximum policy term- 100 years

Saving Advantage

Saving Advantage

Save More, Live Better with Axis Max Life Savings Advantage Plan Whether aiming for a new car or your daughter's dream wedding, savings alone won't do...

Unique Features

  • 5.5% Guaranteed Additions
  • Three In-built Riders
  • Annual/Terminal Bonus

Saving Advantage (Pros)

Saving Advantage
  • 5.5% Guaranteed Additions
  • Three In-built Riders
  • Annual/Terminal Bonus

Saving Advantage (Cons)

Saving Advantage
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

Saving Advantage (Other Benefits)

Saving Advantage
  • Flexible policy tenure
  • Cash bonuses
  • Tax benefits

Saving Advantage (Eligibility Criteria)

Saving Advantage
  • Minimum entry age- 91 days
  • Maximum entry age- 65 years
  • Minimum sum assured- 125% of Single Premium
  • Maximum sum assured- No limit
  • Maximum policy term- 30 years

Monthly Income Advantage

Monthly Income Advantage

Axis Max Monthly Income Advantage Plan is a comprehensive plan that offers you dual life Insurance coverage benefits until policy tenure and guarantee...

Unique Features

  • Guaranteed monthly income
  • Longer coverage
  • Waiver of premiums

Monthly Income Advantage (Pros)

Monthly Income Advantage
  • Guaranteed monthly income
  • Longer coverage
  • Waiver of premiums

Monthly Income Advantage (Cons)

Monthly Income Advantage
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

Monthly Income Advantage (Other Benefits)

Monthly Income Advantage
  • Flexible policy tenure
  • Reduced paid-up value
  • Tax benefits

Monthly Income Advantage (Eligibility Criteria)

Monthly Income Advantage
  • Minimum entry age- 18 years
  • Maximum entry age- 55 years
  • Minimum sum assured- Rs 54000
  • Maximum sum assured- No limit
  • Maximum policy term- 45 years

Assured Wealth

Assured Wealth

Axis Max Life Assured Wealth is a non-linked, comprehensive life insurance savings plan that offers the dual benefits of investment and insurance. It ...

Unique Features

  • Guaranteed return on maturity
  • Flexible premium paying term
  • Enhanced protection through rider

Assured Wealth (Pros)

Assured Wealth
  • Guaranteed return on maturity
  • Flexible premium paying term
  • Enhanced protection through rider

Assured Wealth (Cons)

Assured Wealth
  • No pre-existing condition
  • Suicidal exclusion
  • No auto-cover continuance

Assured Wealth (Other Benefits)

Assured Wealth
  • Tax Benefits
  • Death Benefits
  • Maturity Benefits

Assured Wealth (Eligibility Criteria)

Assured Wealth
  • Minimum entry age- 91 days
  • Maximum entry age- 65 years
  • Minimum sum assured- Rs 161225
  • Maximum sum assured- No limit
  • Maximum policy term- 20 years
Tired of Pushy Sales? Get Insurance, Your Way Tired of Pushy Sales? Get Insurance, Your Way

Benefits of Axis Max Life Smart Wealth Income Plan

Here are the benefits of buying the Axis Max Life Smart Wealth Income Plan:

  • Death benefits:This plan offers death benefits to your loved ones in case of your uncertain demise. This amount can help them to carry on with their lives without financial issues.
  • Maturity benefits:At the end of the policy tenure, you will get maturity benefits along with applicable additions. You can use this amount to fulfill your future financial needs.
  • Guaranteed additions:Under the lump sum option of the Axis Max Life Smart Wealth Income Plan, you get guaranteed additions to your policy. These additions increase the total value of maturity benefits.
  • Rider benefits:You can avail of 4 kinds of rider benefits to enhance the overall coverage of your plan. These rider benefits are available at a nominal additional cost.
  • Policy Loan:You can avail of a policy loan in emergencies. The loan amount is a minimum of Rs 10,000 and a Maximum of 50% of the surrender value of the policy.
  • Joint life plan:Under the whole life income option you get a joint life policy that covers you and your spouse under a single plan. You don’t need to spend any additional amount to buy an insurance policy for your spouse.
  • Commutation option:The commutation option is available under plan options 2,3 and 4. Under this option, you can receive the present value of the outstanding maturity or death benefits as a lump sum.

Documents Required to Buy Axis Max Smart Wealth Plan

Here is the list of documents required to buy the Axis Max Smart Wealth Plan:

  • Regular Smoking
    Photo ID Proof
  • Your Occupation
    Age Proof
  • Pre-Existing Diseases
    Address Proof
  • Your Age
    Medical Records
  • Your Gender
    Income Proof
Photo ID Proof

Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.

How to Buy Axis Max Life Smart Wealth?

You can buy the Axis Max Life Smart Wealth official website or one of their nearest branch offices.

Life Insurance
  • Step 1

    Visit the official website of PolicyX.com.

  • Step 2

    Click on the ‘Investment’ tab.

  • Step 3

    A new page will appear on the screen.

  • Step 4

    Fill out the form at the top of the page with the necessary details.

  • Step 5

    Select your income and city. Click on 'Proceed'.

  • Step 6

    Update your education and occupation details.

  • Step 7

    Choose your preferred plan and click on 'Buy this plan'.

  • Step 8

    Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

Life Insurance
  • Step 1

    Visit the official website of Axis Max Life Insurance.

  • Step 2

    Hover over the 'Investment Plans' from the top of the menu.

  • Step 3

    Click on the 'Axis Max Life Smart Wealth Plan'.

  • Step 4

    Click on ‘Buy Now’ and you will be redirected to a new page.

  • Step 5

    Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.

  • Step 6

    Once discussed you can make the premium payment and get the policy documents.

You can buy the Axis Max Life Smart Wealth Plan from the nearest branch office of Axis Max Life.

 

Your Occupation

Exclusions of Axis Max Smart Wealth Plan

  • In case the policyholder commits suicide within 12 months of policy purchase then no death benefits are offered to their family members. Either 80% of the premiums paid to date or the surrender value acquired to date whichever is higher is paid.

Maturity benefits in RPU- RPU Sum Assured + Guaranteed additions accrued.

Death benefits in RPU-  Total premiums paid / Total premiums payable * Death benefits.

Axis Max Life Smart Wealth Plan: FAQs

1. What plan options does Axis Max Life Smart Wealth Plan offer?

Axis Max Life Smart Wealth Plan offers four plan options- Lumpsum, Short-term income, Long-term income, and Whole-life income with a joint-life option.

2. What is the maximum age to buy the Axis Max Life Smart Wealth Plan?

The maximum age to buy the Axis Max Life Smart Wealth Plan is 65 years.

3. Does Axis Max Life Wealth Plan offer joint life cover?

The Whole life option of Axis Max Life Smart Wealth Plan offers joint life cover to protect you and your spouse under a single policy.

4. What is the commutation option of the Axis Max Life Smart Wealth Plan?

As per the commutation option, you can receive the present value of the outstanding death or maturity benefits. This option is available under 2,3 and 4 plan variants.

5. What rider benefits can I choose with the Axis Max Life Smart Wealth Income Plan?

You can choose from the four-rider options- Axis Max Life Waiver of Premium Plus Rider, Axis Max Life Accidental Death and Dismemberment Rider, Axis Max Life Term Plus Rider, Axis Max Life Critical Illness and Disability Rider.

Life Insurance Companies

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Himanshu Kumar

Written By: Himanshu Kumar

Himanshu is a seasoned content writer specializing in keeping readers engaged with the insurance industry, term and life insurance developments, etc. With an experience of 2 years in insurance and HR tech, Himanshu simplifies the insurance information and it is completely visible in his content pieces. He believes in making the content understandable to any common man.

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