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                • Income Tax Rules Changes

                  Income Tax Return Last Date – Reasons You Need to File ITR on Time

                  Nothing proves your financial understanding and responsibility than timely income tax return filing. Contrary to popular belief, income tax return filing is not as complicated as it sounds. As a taxpayer,
                  timely income tax return filing enables you to provide proof for your annual income, carrying forward losses and claiming an income tax refund.

                  Income tax return is a form that enables a taxpayer to declare his income, expenses, tax deductions, investments and taxes [1]. The Income Tax Act, 1961, renders timely income tax return filing is mandatory. So, it is of extreme importance to keep income tax return last date in mind.
                  ...Read More

                  Axis Max Life Investment Plans

                   Image for tax percentage
                  Tax Savings upto Rs 46,800##
                   Image for guard icon
                  99.65% Death Claim Paid Ratio^
                  Image for discount icon
                  12% Discount on Term Plan3
                  Image for zero commission icon
                  Zero Commission#~
                  image banner3_desktop_rohitt_ritika_b4f7056058_2e379c7773_1_0654832454
                   Image for tax percentage
                  Tax Savings upto Rs 46,800##
                   Image for guard icon
                  99.65% Death Claim Paid Ratio^
                  Image for discount icon
                  12% Discount on Term Plan3
                  Image for zero commission icon
                  Zero Commission#~
                  image save_more_taxes_6181fcb93f

                  Tax Saving Investments

                  7.45%6 Guaranteed Returns
                  image 1_crore_icon_18a1d013a4

                  Savings + Life Cover

                  image nfo_ribbion_01_b7a49a8d0c
                  Past Returns
                  image twentyonepercentreturn%20%282%29

                  Multifactor Index Fund@$

                  SIP Plans
                  image market_growth_icon_8fed64aded

                  Pay 10k/Month, Get 1 Crore^~

                  image new_ribbion_storefront_icon_1c86e520ea_a0f208a06eimage term_life_ins_icon_12bc31e8d1

                  Free of Cost Benefit

                  Plan Changing Soon
                  image 2_crore_icon_77ca5c7e6c

                  ₹2 Crore Term Plan

                  Disclaimer:

                  In Unit Linked Policies, the investment Risk in the investment portfolio is borne by the policyholder.

                  Profile picture of the Abhishek Chakravarti

                  Written by

                  Abhishek Chakravarti
                  Profile picture of the Abhishek Chakravarti

                  Abhishek Chakravarti

                  BFSI Writer

                  Abhishek is a financial writer with over 6 years of experience in the BFSI sector. Prior to his current stint with Axis Max Life Insurance, he has worked with leading fintech startups. He specializes in writing about taxation and various investment products like ULIPs, retirement plans, guaranteed investment plans, mutual funds etc.

                  :

                  Reviewed by

                  Sahil Rawal
                  Profile picture of the Sahil Rawal

                  Sahil Rawal

                  BFSI Expert

                  Sahil Rawal is a digital & brand management specialist with over 10 years of experience in Financial Services Industry. Life insurance professional with expertise in digital marketing strategy, website content marketing and brand communication designed to increase brand awareness, drive engagement & sales.

                  Image for types Of Investments 0

                  The Income Tax Department offers the service for electronic income tax return filing (e-filing) as well. So, if you are not sure about how to file ITR, you don't need to worry as the online portal of the Income Tax Department has made the income tax return filing process quick and hassle free.

                  Also Read: 4-Point Checklist When Filing Income Tax Returns (ITR)
                   

                  What is the Income Tax Return Last Date?

                  Income tax return filing last date is the date by which an individual can file their return without any penalty or fees under Section 234A of the Income Tax Act, 1961. ITR filing last date for FY 2023-34 (AY 2024-25) for non-audit tax payers was 31st July 2024.

                  That said, IT department has extended this date till 31st December 2024 for revisions incurring zero charges.

                  Please note that fresh filing of ITR after the due date may attract applicable interest u/s 234A, 234B and 234C of the Income Tax Act, 1961. Along with it, the following late fee is also applicable on late filing of the income tax return or ITR:

                • Gross Total Income up to Rs 5 lakhs - Rs 1,000
                • Gross Total Income over Rs 5 lakhs - Rs 5,000
                • The income tax return filing last date for the following taxpayers was 31st October 2024 (Extended to 15th November 2024) –

                • 1. Corporate Assessee
                • 2. Non-corporate Assessee (whose books of accounts are essential to be audited)
                • Partner of a firm whose books of accounts are essential to be audited

                  Reasons for filing ITR on time


                  Even though income tax return filing not a mandate for some individuals, there are several advantages that one can benefit from, provided they have filed their ITR. Take a look at the following reasons for filing your ITR on time:

                  1. Claim tax refunds

                  There could be a probability that on some investments, there has been a tax deduction at source (TDS). In case TDS has been deducted, an individual must complete the process of income tax return filing to claim the refund. If you have paid excess tax on your income, then you can file for a refund from the income tax department. To get this refund, it is mandatory that your income tax return filing is made on time.

                  For instance: Rupanshi, who is currently unemployed, has invested most of his savings in fixed deposits. The bank deducted 10% TDS at maturity on the interest earned on fixed deposits. But, she is not liable to pay any taxes as she is unemployed and fall in the tax slab with no tax liability. So, it becomes essential for her to file Income Tax Return to claim a refund of the Tax Deducted at Source by the bank which was holding her deposit.

                  2. Documents Processing

                  When applying for loans, the eligibility and consideration of loans depend on the individual's income as established through ITRs filed. Income tax return filing gives a detailed picture of your total income earned during a year and the taxes paid on it. You need to maintain your ITR receipts after income tax return filing, as they are essential evidence of your income and tax payments. Another benefit of income tax return filing is that the details of ITR receipts that an individual receives are much more detailed than Form 16, as it includes your complete income details and features your income from other sources.

                  3. Carry-forward your losses

                  Rules of Income-tax permits one to carry-forward their losses to match them against any capital gains and applies to only those individuals who have filed ITR for the applicable year of evaluation. There are prospects that one might have sustained some or any losses. In such a situation, you cannot stay away from income tax return filing based on your income being under the exemption limit. Income tax return filing neutralizes the losses incurred as they can get carried forward to set them against the capital gains of the successive years.

                  Also Read: How Salaried Professionals Can Save Tax
                   

                  Image for types Of Investments 3

                  File Your ITR On Time


                  Most individuals think that if their salaries are below the taxable bracket, income tax return filing is not for them. Well, that is not accurate. Timely income tax return filing is mandatory if you want to claim tax refunds, avail tax deductions like term insurance premium (under Section 80C of the Income Tax Act, 1961) and to claim exemptions on eligible long-term capital gains.
                   

                  Remember, timely income tax return filing is both hassle-free and beneficial. So, don't wait for the clock to strike twelve – ensure that you keep income tax return filing last date in mind to file your ITR without the burden of paying any penalty for late filing of your income tax return..
                   

                  FAQ's For Income Tax Return Filing

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                  1. What is ITR and income tax return filing?

                  Income Tax Return (ITR) is a type of form in which the taxpayers file information about their income and tax pertinent to the income tax department. Till date, the department has reported seven such forms, namely ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7. Every taxpayer should complete income tax return filing on or before the stipulated due date. The applicability of ITR forms differs depending on the source and amount of earned income.

                  2. Why is income tax return filing necessary?

                  The total gross income denotes the total revenue and is calculated before any deduction allowance under sections 80C to 80U of the Income-tax Act, 1961 [2]. Even if the income is lower than the basic exemption limit, you would be required to complete their income tax return filing in India. Even in case you are holding assets abroad, or if you are a beneficiary to any foreign assets or financial interests, income tax return filing is mandatory under the Double Taxation Avoidance Agreement (DTAA).

                  3. What documents are needed for income tax return filing?

                  Income tax return filing requires you to have the following documents:  

                  1. Permanent Account Number (PAN)  

                  2. Aadhaar Identification Number  

                  3. Copy of tax returns of the previous year  

                  4. Bank statements  

                  5. Form 16  

                  6. A summation of all the interest income earned during the financial year  

                  7. Other tax Deducted at Source (TDS) certificates  

                  4. Is it required to affix documents with Income tax return?

                  The forms of income tax return filing, whether it is filed manually or electronically, do not include any documentation such as investment proof, and TDS certificates. However, the income tax return filing records should be maintained by you (taxpayer) and generated in situations such as evaluation, scrutiny, before the tax authorities when requested.

                  image What_is_TDS_Refund_e9f996e35e

                  5. Where does a taxpayer file his ITR electronically?

                  The income tax department has established an independent portal for electronic Income tax return filing (e-filing). The taxpayers need to log on to

                  www.incometaxindiaefiling.gov.in for electronic income tax return filing. The department's e-filing tool is simple, easy to use and also guides on how to file ITR.

                  6. How will I get refund for any excess tax already paid?

                  During the process of income tax return filing, if any excess tax has been paid in the financial year, you can claim the excess paid tax as a refund. After the ITR gets processed, given the IT department accepts your refund claim, the claimed refund amount gets credited back to your bank account via Electronic Clearance Service (ECS) transfer

                  7. How does electronic verification of the income tax return filing works?

                  The income tax return filing will not get treated as valid without verification. You can either choose to verify your income tax return filing physically or electronically. In case of physical verification, print the acknowledgment of your income tax return filing (ITR-V), sign it in blue ink, and send it to the Centralized Processing Centre (Bangalore) within 120 days of your income tax return filing.

                  ARN:-Aug21/Bg/18O

                  Source:

                  [1] https://www.incometax.gov.in/iec/foportal/sites/default/files/2024-10/circular-13-2024.pdf#

                  [2] https://cleartax.in/s/due-date-tax-filing

                  image tick_a2b9cfa3ac_188e3e7428_6f6b3af02f

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                  • Life Insurance Tax Benefits
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                  In the Interim Budget 2024-25, the Income Tax Slab and rates for AY 2025-26 i.e. FY 2024-25 were kept the same as FY 2023-24.

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                  BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

                  IRDAI clarifies to public that:
                  • • IRDAI is not involved in activities like selling insurance policies, announcing
                    bonus or investment of premiums.
                  • • Public receiving such phone calls are requested to lodge a police complaint.

                  IRDAI - Registration No. 104. ARN/Web/13122024 Category: Life. Validity: Valid.
                  Corporate Identity Number (CIN): U74899PB2000PLC045626.
                  Corporate Office: Axis Max Life Insurance Ltd. 11th Floor, DLF Square, Building, Jacaranda Marg, DLF Phase 2, Sector 25, Gurugram, Shahpur, Haryana 122002

                  DISCLAIMERS

                  Axis Max Life Insurance Limited (earlier known as Max Life Insurance Company Limited) is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.

                  Corporate Office: Axis Max Life Insurance Ltd. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002.

                  Operation Center: Axis Max Life Insurance Ltd, Plot No. 90C, Udyog Vihar, Sector 18, Gurugram (Haryana) - 122015.

                  Customer Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply.

                  Online Helpline - 0124 648 8900 (09:00 AM to 09:00 PM Monday to Saturday).

                  Fax Number: 0124-4159397.

                  Email ids: service.helpdesk@axismaxlife.com

                  Website: www.axismaxlife.com

                  Axis Max Life Insurance is integrated with licensed NBFC FinVu (Cookiejar Technologies Pvt. Ltd. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Read more about Account Aggregator framework here

                  *Life insurance coverage is available in this product. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws.

                  Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961. Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

                  Celeb disclaimer (if Rohit Sharma / Ritika Sajdeh image being used):

                  The Brand Ambassadors as depicted herein, have endorsed only the Axis Max Life Insurance Products and are not in any manner endorsing Axis Bank Limited and / or any other Bank Partner of Axis Max Life Insurance and do not have any kind of association or relationship with Axis Bank Limited and / or any other Bank Partner of Axis Max Life Insurance

                  Disclaimers for Market Linked Plans & Saving plans:

                  THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

                  Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Axis Max Life Insurance is only the name of the insurance company and Axis Max Life Online Savings Plan (UIN: 104L098V06) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

                  Axis Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN: 104L098V06)

                  *1The aggregate annualized premium should not be more than 5 lakhs (one or more policies put together) for non-linked non-par savings insurance plan in any given year of policy term to be eligible for Section 10 (10D) exemption.

                  *3All claims that qualify for InstaClaim will be paid within 3 hrs from the date of submission of all mandatory documents else Axis Max Life will pay interest at prevailing Bank Rate as on beginning of Financial Year in which claim has been received for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. Mandatory Documents: Original policy document; Original/attested copy of death certificate issued by local municipal authority; Death claim application form (Form A); NEFT mandate form attested by bank authorities along with a cancelled cheque of bank account passbook along with nominee's photo identity proof; Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/Viscera Report (in case of accident death).

                  *#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid. The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

                  Privacy Policy

                  ^^On completion of policy term

                  The savings indicated is the maximum premium difference as compared with offline plan & depends on the variant purchased.

                  Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day. Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification. Mandatory Documents:

                  > Original policy document

                  > Original/attested copy of death certificate issued by local municipal authority

                  > Death claim application form (Form A)

                  > NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominee’s photo identity proof

                  > Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

                  1The 5% employee discount will be refunded to you once your policy is issued. Submit your documents for getting your policy issued and get 5% employee discount

                  2Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).

                  315% discount is applicable only on the first year premium for salaried employees with a corporate, purchasing Smart Term Plan Plus (UIN: 104N127V02). During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. 15% discount (applied on standard male premium rates) is applicable for lifetime for females.

                  4InstaClaim TM is available for all versions of (UIN: 104N125V07). Mandatory Documents:

                  • Original policy document
                  • Original/attested copy of death certificate issued by local municipal authority
                  • Death claim application form (Form A)
                  • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominee’s photo identity proof
                  • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

                  5Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition

                  6Applicable for Titanium variant of Axis Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 30,000/- per month (exclusive of all applicable taxes) with 7.45% return. Life Insurance is available with this product

                  7Available with Axis Max Life Smart Wealth Plan (UIN: 104N116V14)

                  8Available with Axis Max Life Smart Fixed-return Digital Plan (UIN: 104N123V05). The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid.

                  9The percentage savings is for a regular pay Axis Max Life Smart Secure Plus Plan (A Non Linked Non Participating Individual Pure Risk Life Insurance Plan, UIN: 104N118V11)– Life Option for 1 Cr. life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term with the same details’

                  ##Tax conditions :

                  ##Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, fall under 30% income tax slab having taxable income less than Rs. 50 lakhs and Opt for Old tax regime ~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and 25,000 for critical illness cover and you are a Regular Individual, fall under 30% income tax slab having taxable income less than Rs. 50 lakhs and Opt for Old tax regime.

                  CI Rider disclaimers:

                  AXIS MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN: 104B033V02) available as a rider on payment of additional premium.

                  >Extended cover of up to 85 years is available with gold and platinum variant only

                  @64 critical illnesses covered in platinum and platinum plus variant on payment

                  22 critical illnesses covered in gold and gold plus variant

                  *^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

                  ~Conditions for premium break: Available at an additional premium for policies with policy term greater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years

                  ~1 Conditions for Special exit value:

                  Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of Premium variant is not chosen. No additional premium to be paid.

                  ~2 Voluntary Top-up Sum assured:

                  Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured up to an additional 100% of base sum assured, chosen at inception

                  ^^*^^Free look period conditions:

                  The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

                  ^Individual Death Claim Paid Ratio as per audited financials for FY 2023-2024

                  #1A flat 15% discount on the premium will be applicable throughout the Premium Payment Term for Female Life Insured with Axis Max Life Smart Term Plan Plus (UIN: 104N127V02).

                  #3Tax benefits as per prevailing tax laws, subject to change

                  Terms and conditions for availing 5% employee discount:

                  <Due to system constraints, employee is requested to select 5 Lakh and above income which can be changed to actual amount on the information page.

                  Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns. The premiums & funds are subject to certain charges related to the fund or to the premium paid.

                  The premium shall be adjusted on the due date even if it has been received in advance.

                  For Total Installment Premium - Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.

                  For Return of Premium - The Return of Premium Option is available on payment of Additional Premium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. Upon Policyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan.

                  For Riders - #Applicable Rider available on the payment of Additional Premium is Axis Max Life Critical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Health Insurance Rider | UIN: 104B033V02. Critical Illness and Disability Rider variant opted is Platinum Plus which covers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed with listed 64 critical illnesses or total and permanent disability. Rider will terminate after major critical illness claim is paid to the policyholder. In case customer requests for cancellation of rider only, the solution as a whole will be cancelled and not just the individual rider.

                  For Additional Benefits– ##On Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

                  *~Disclaimers

                  Axis Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk life insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standard premium for 30-year-old healthy male, non-smoker, 40 years’ policy term, 40 years’ premium payment term (exclusive of GST) for Axis Max Life Smart Secure Plus Plan.

                  ##Policy continuance benefit is not available with lifelong wealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate (publish on RBI’s website).

                  #With “Save the date”, you can choose to take your annual income to any special date in a year.

                  ***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

                  ~Accidental death benefit is available in call variants except for Single premium variant. Life insurance coverage is available in this product.

                  #~Term Insurance plan bought online directly from Axis Max Life Insurance has no commissions involved.

                  ~1Axis Max Life Smart Secure Plus Plan, A non-linked non-participating Individual Pure Risk Life Insurance Plan | Standard Premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Secure Plus Plan | ~1 Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to be paid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. Special Exit Value cover applicable till age 68 & above (of your age). T&C Apply.

                  @>Axis Max Life Critical Illness and Disability Rider (UIN 104B033V02) is available on payment of additional premium. It covers 64 critical illnesses under Platinum & Platinum Plus variant

                  #Available on Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

                  ^1Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 50 lakh.

                  ^2Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 75 lakh.

                  ^3Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 1 Cr.

                  ^4Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 1.5 Cr.

                  ^5Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 2 Cr.

                  ^6Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 5 Cr.

                  ^7Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Term Plan Plus (UIN: 104N127V02) - Regular Cover with a life cover of Rs. 1 Cr.

                  ~*Disclaimer: Standard premium for 24-year old healthy female,non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07)

                  ^~Disclaimer: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 31/07/2024

                  ^~The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back. The value of your policy depends on a number of factors including future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premium payment term, and 35 years policy term with Axis Max Life Online Saving Plan (Unit Linked Non Participating Individual Life Insurance Plan | Life Insurance is available in this product).

                  *++Axis Max Life's Nifty Alpha 50 Fund tracks the NSE's Nifty Alpha 50 Index, subject to tracking error. The above values have been calculated by projecting historical returns of the Nifty Alpha 50 index, after adjusting for all expenses, except the tracking error, in Axis Max Life online savings plan (variant 1) for a 35-year-old male investing 10k per month for 10 years and maturity after 20 years. The calculations have been done using historical returns of the Nifty Alpha 50 index and may not be indicative of the future performance of Axis Max Life's Nifty Alpha 50 Fund. The above values have been calculated basis 10 year returns of 26.4% (30th Apr'24) of the Nifty Alpha 50 Index.

                  *+Nifty Mid-cap 150 Momentum 50 Index was launched in Aug’22. These are returns of benchmark indices and are not indicative of return on Axis Max Life Insurance’s Midcap Momentum Index fund. 10 year return of NIFTY Midcap 150 Momentum 50 Index as on 27/05/2024. Max Life Midcap Momentum Index Fund (SFIN: ULIF02802/01/24MIDMOMENTM104) is passively managed Index Fund that mirrors NIFTY Midcap 150 Momentum 50 Index.

                  *&10 year return of Nifty Smallcap 250 Quality 50 Index as on 30/04/2024. The past returns are extrapolation of index fund returns up to past 10 years using same formula (provided by NSE). The returns are not indicative of the future performance of the fund. Max Life Nifty Smallcap Quality Index Fund is passively managed Index Fund that mirrors Nifty Smallcap 250 Quality 50 Index. The objective of the fund is to invest in companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.

                  ^*All claims that qualify for InstaClaim will be paid within 3 hrs from the date of submission of all mandatory documents else Axis Max Life will pay interest at prevailing Bank Rate as on beginning of Financial Year in which claim has been received for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. Mandatory Documents: Original policy document; Original/attested copy of death certificate issued by local municipal authority; Death claim application form (Form A); NEFT mandate form attested by bank authorities along with a cancelled cheque of bank account passbook along with nominee's photo identity proof; Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/Viscera Report (in case of accident death).

                  @1Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. | ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

                  @2Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. | ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

                  #*Axis Max Life Insurance’s Sustainable Wealth 50 Index Fund (SFIN: ULIF03223/12/24SUSTWEALTH104), which is a passively managed Index Fund that mirrors Axis Max Life Sustainable Yield Index, subject to tracking error. The fund value calculation is done by projecting historical returns of Axis Max Life Sustainable Yield Index, after adjusting for all expenses (except tracking error) in Axis Max Life Flexi Wealth Advantage Plan (UIN: 104L121V03) for a 30-year-old male investing 5k/10k per month for 20/10 years. The above values have been calculated assuming 25.2% p.a. gross investment returns as in Nov'24, which is the 10-year return of Axis Max Life Sustainable Yield Index. (back tested).

                  @3Standard premium for 20-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07)| The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

                  7Disclaimer: Rs. 1,00,29,587 after 14 years at policy maturity on monthly investment of Rs. 16,600 for 12 years for 30-year-old male with Axis Max Life Smart Wealth Plan – Long Term Variant. A non-linked non-participating individual life insurance savings plan. The guaranteed benefits are applicable only if all due premiums are paid. Total premiums paid is exclusive of GST. Life Insurance is available in this product.

                  @4Standard premium for 20-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Term Plan Plus (UIN:104N127V02)| The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate.

                  @5Disclaimer: Standard premium for 20-year old healthy female, non-smoker, 25 years policy term, 25 years premium payment term (exclusive of GST) for Rebalancing Cover Variant of Axis Max Life Smart Term Plan Plus (UIN:104N127V02) Sum Assured of 1 Cr | The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate. During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

                  @6Disclaimer: The policyholder will get back 200% of total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums (if any) (excl. of GST), if the policyholder exercises this option at policy year (Policy Term-10) only. This option will not applicable for Regular Pay and Pay Till 60. The minimum policy term will be 40 years for special exit value.

                  @7Disclaimer: Standard premium for 20-year old healthy male, non-smoker, 25 years policy term, 25 years premium payment term (exclusive of GST) for Rebalancing Cover Variant of Axis Max Life Smart Term Plan Plus (UIN:104N127V02)| The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate. During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

                  @8Disclaimer: Standard premium for 20-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Regular Cover Variant of Axis Max Life Smart Term Plan Plus (UIN: 104N127V02)| The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

                  Disclaimer: ~10 year CAGR of Nifty SmallCap 250 Quality50 index as on 24/07/2023. Max Life Nifty Smallcap Quality Index Fund is passively managed Index fund that tracks the Nifty SmallCap 250 Quality50 index (subject to tracking error).

                  Disclaimer: @2Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07). **The above mentioned is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employee with a corporate, purchased via web link | ~1Get back 4.67 Lakhs premiums paid under Special Exit value at 36th Policy Year. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accelerated Critical Illness, Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up| ~Singapore, Hong Kong, New Zealand, Australia, Canada, UAE, Oman, Qatar, Saudi Arabia, Kuwait, Sri Lanka, Maldives, Fil, Brunei, Taiwan, Mauritius, South Korea, Bahrain, China, France, Germany, Switzerland, Austria, Hungary, USA, UK, Japan, Belgium, Denmark, Spain, Greece, Ireland, Luxemburg, Italy, Netherlands, Finland, Sweden, Norway.

                  Disclaimer: @++ Axis Max Life’s NIFTY Momentum Quality 50 Fund (SFIN: ULIF03127/10/24MOMQUALITY104) is a passively managed Index Fund that mirrors NIFTY 500 Multicap Momentum Quality 50 Index, subject to tracking error. The fund value calculation is done by projecting historical returns of NIFTY 500 Multicap Momentum Quality 50 Index, after adjusting for all expenses (except tracking error) in Axis Max Life Online Savings Plan (UIN: 104L098V06) for a 30-year-old male investing 10k per month for 10 years. The above values have been calculated assuming 24.9% p.a. gross investment returns as on 16/10/2024, which is the 10-year return of NSE's NIFTY 500 Multicap Momentum Quality 50 Index (backtested)

                  ~4Subject to submission of all documents required for GST waiver. GST waiver/refund is not applicable for ULIP plans.

                  Disclaimer: **+NIFTY 500 Momentum 50 Index was launched in June'24. The past returns are back tested based on historical returns and formula (provided by NSE). These are returns of benchmark indices as on 11 June’24 and are not indicative of returns on Axis Max Life Insurance’s newly launched NIFTY 500 Momentum 50 Fund. Axis Max Life’s NIFTY 500 Momentum 50 Fund (SFIN: ULIF03014/08/24MOMENFIFTY104) is a passively managed Index Fund that mirrors NSE’s NIFTY 500 Momentum 50 Index, subject to tracking error. The fund value calculation is done by projecting historical returns of NSE’s NIFTY 500 Momentum 50 Index, after adjusting for all expenses (except tracking error) in Axis Max Life Online Savings Plan (UIN: 104L098V06) for a 30-year-old male investing 10k per month for 10 years. The above values have been calculated assuming 25% p.a. gross investment returns as on 11 June'24, which is the 10-year return of NSE's NIFTY 500 Momentum 50 Index (backtested).

                  Disclaimer: #^Axis Max Life Smart Innovation Fund (SFIN: ULIF03301/03/25INNOVATION104), which is an actively managed fund does not have any past performance benchmarks. The above values have been calculated for a 35-year-old male investing 10k per month for 10 years assuming 20.8% p.a. gross investment returns basis 5 years’ performance of existing active fund with Axis Max Life Insurance, as on date 31st Jan'25 after adjusting for all expenses in Axis Max Life’s Capital Guarantee Plan which is combination of Axis Max Life Online Savings Plan (UIN: 104L098V06) and Axis Max Life Smart Wealth Advantage Guarantee Plan (UIN: 104N116V13). | Investors in this plan are not offered guaranteed/ assured returns. | The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year. The premium shall be adjusted on the due date even if it has been received in advance. Applicable taxes, cesses and levies as imposed by the government from time to time will be deducted from the premiums received or from the funds, as applicable.

                  Disclaimer: @$The Nifty500 Multifactor MQVLv 50 Index was launched in Feb’25. The past returns are back tested based on historical returns and formula (provided by NSE). These are returns of benchmark indices and are not indicative of return on Axis Max Life Insurance’s NIFTY 500 Multifactor 50 Index fund. Axis Max Life’s NIFTY 500 Multifactor 50 Index fund (SFIN: ULIF03414/05/25MULTIFACTO104) is a passively managed Index Fund that mirrors NSE’s Nifty500 Multifactor MQVLv 50 Index, subject to tracking error. The fund value calculation is done by projecting historical returns of NSE’s Nifty500 Multifactor MQVLv 50 Index, after adjusting for all expenses (except tracking error) Axis Max Life’s Online Savings Plan (UIN: 104L098V06)) for a 30-year old male investing 5K/10K per month for 10 years. The above return values have been calculated assuming 21% p.a. gross investment returns, which is the returns since inception of NSE's Nifty500 Multifactor MQVLv 50 Index (backtested) as on 24th April 2025. For FWAP, replace Axis Max Life’s Online Savings Plan (UIN: 104L098V06) with Axis max Life’s Flexi Wealth Advantage Plan (UIN: 104L121V04).

                  Please note, while our website has been updated with the changed corporate name and brand identity, our product collaterals will be updated in due course. We regret any inconvenience caused.

                  Disclaimer: *6Check the Total Premium amount against the respective monthly premium values in the below table.

                  For Sum assured of 75 lakh, 1 crore, 1.5 crore and 2 crore, the below calculations are based on Axis Max Life Smart Total Elite Protection Term Plan (A Non Linked Non Participating Individual Pure Risk Life Insurance Plan, UIN:104N125V07). Monthly premium amounts are excluding GST and before any applicable discounts assuming Regular Pay and monthly payment mode..

                  Age of Male ApplicantPremium Amount for Rs. 75 lakh Term PlanPremium Amount for Rs. 1 crore Term PlanPremium Amount for Rs. 1.5 crore Term PlanPremium Amount for Rs. 2 crore Term Plan
                  SmokerNon-SmokerSmokerNon-SmokerSmokerNon-SmokerSmokerNon-Smoker
                  18 Years (PPT: 67 years)1,488/Month
                  Total Premium: 11.33 lakh
                  930/Month
                  Total Premium: 7.08 lakh
                  1,500/Month
                  Total Premium: 11.42 lakh
                  938/Month
                  Total Premium: 7.14 lakh
                  2,251/Month
                  Total Premium: 17.13 lakh
                  1,407/Month
                  Total Premium: 10.71 lakh
                  2,675/Month
                  Total Premium: 20.37 lakh
                  1,672/Month
                  Total Premium: 12.73 lakh
                  25 Years (PPT: 60 years)1,966/Month
                  Total Premium: 13.40 lakh
                  1,228/Month
                  Total Premium: 8.38 lakh
                  2,054/Month
                  Total Premium: 14.06 lakh
                  1,284/Month
                  Total Premium: 8.75 lakh
                  3,081/Month
                  Total Premium: 21.01 lakh
                  1,926/Month
                  Total Premium: 13.13 lakh
                  3,607/Month
                  Total Premium: 24.59 lakh
                  2,255/Month
                  Total Premium: 15.37 lakh
                  35 Years (PPT: 50 years)3,182/Month
                  Total Premium: 18.08 lakh
                  1,989/Month
                  Total Premium: 11.30 lakh
                  3,592/Month
                  Total Premium: 20.41 lakh
                  2,245/Month
                  Total Premium: 12.76 lakh
                  5,388/Month
                  Total Premium: 30.61 lakh
                  3,367/Month
                  Total Premium: 19.13 lakh
                  5,947/Month
                  Total Premium: 33.79 lakh
                  3,717/Month
                  Total Premium: 21.12 lakh
                  45 Years (PPT: 40 years)5,971/Month
                  Total Premium: 27.14 lakh
                  3,732/Month
                  Total Premium: 16.96 lakh
                  6,629/Month
                  Total Premium: 30.13 lakh
                  4,143/Month
                  Total Premium: 18.83 lakh
                  9,944/Month
                  Total Premium: 45.20 lakh
                  6,215/Month
                  Total Premium: 28.25 lakh
                  12,546/Month
                  Total Premium: 57.02 lakh
                  7,841/Month
                  Total Premium: 35.64 lakh
                  55 Years (PPT: 30 years)11,656/Month
                  Total Premium: 39.73 lakh
                  7,285/Month
                  Total Premium: 24.83 lakh
                  13,719/Month
                  Total Premium: 46.77 lakh
                  8,574/Month
                  Total Premium: 29.23 lakh
                  20,578/Month
                  Total Premium: 70.15 lakh
                  12,861/Month
                  Total Premium: 43.84 lakh
                  26,160/Month
                  Total Premium: 89.18 lakh
                  16,350/Month
                  Total Premium: 55.74 lakh
                  60 Years (PPT: 25 years)16,846/Month
                  Total Premium: 47.86 lakh
                  10,529/Month
                  Total Premium: 29.91 lakh
                  19,966/Month
                  Total Premium: 56.72 lakh
                  12,479/Month
                  Total Premium: 35.45 lakh
                  29,949/Month
                  Total Premium: 85.08 lakh
                  18,718/Month
                  Total Premium: 53.18 lakh
                  37,689/Month
                  Total Premium: 107.07 lakh
                  23,555/Month
                  Total Premium: 66.92 lakh

                   

                   

                  Age of Female ApplicantPremium Amount for Rs. 75 lakh Term PlanPremium Amount for Rs. 1 crore Term PlanPremium Amount for Rs. 1.5 crore Term PlanPremium Amount for Rs. 2 crore Term Plan
                  SmokerNon-SmokerSmokerNon-SmokerSmokerNon-SmokerSmokerNon-Smoker
                  18 Years (PPT: 67 years)1,488/Month
                  Total Premium payable: 11.33 lakh
                  930/Month
                  Total Premium payable: 7.08 lakh
                  1,500/Month
                  Total Premium payable: 11.42 lakh
                  938/Month
                  Total Premium payable: 7.14 lakh
                  2,251/Month
                  Total Premium payable: 17.13 lakh
                  1,407/Month
                  Total Premium payable: 10.71 lakh
                  2,675/Month
                  Total Premium payable: 20.37 lakh
                  1,672/Month
                  Total Premium payable: 12.73 lakh
                  25 Years (PPT: 60 years)1,707/Month
                  Total Premium payable: 11.64 lakh
                  1,067/Month
                  Total Premium payable: 7.28 lakh
                  1,744/Month
                  Total Premium payable: 11.89 lakh
                  1,090/Month
                  Total Premium payable: 7.43 lakh
                  2,616/Month
                  Total Premium payable: 17.84 lakh
                  1,635/Month
                  Total Premium payable: 11.15 lakh
                  2,972/Month
                  Total Premium payable: 20.26 lakh
                  1,858/Month
                  Total Premium payable: 12.67 lakh
                  35 Years (PPT: 50 years)2,617/Month
                  Total Premium payable: 14.87 lakh
                  1,636/Month
                  Total Premium payable: 9.29 lakh
                  2,905/Month
                  Total Premium payable: 16.50 lakh
                  1,815/Month
                  Total Premium payable: 10.32 lakh
                  4,357/Month
                  Total Premium payable: 24.76 lakh
                  2,723/Month
                  Total Premium payable: 15.47 lakh
                  4,801/Month
                  Total Premium payable: 27.28 lakh
                  3,000/Month
                  Total Premium payable: 17.05 lakh
                  45 Years (PPT: 40 years)4,794/Month
                  Total Premium payable: 21.79 lakh
                  2,996/Month
                  Total Premium payable: 13.62 lakh
                  5,061/Month
                  Total Premium payable: 23.00 lakh
                  3,163/Month
                  Total Premium payable: 14.38 lakh
                  7,591/Month
                  Total Premium payable: 34.50 lakh
                  4,744/Month
                  Total Premium payable: 21.56 lakh
                  9,496/Month
                  Total Premium payable: 43.16 lakh
                  5,935/Month
                  Total Premium payable: 26.98 lakh
                  55 Years (PPT: 30 years)8,883/Month
                  Total Premium payable: 30.28 lakh
                  5,552/Month
                  Total Premium payable: 18.93 lakh
                  10,102/Month
                  Total Premium payable: 34.44 lakh
                  6,314/Month
                  Total Premium payable: 21.52 lakh
                  15,153/Month
                  Total Premium payable: 51.66 lakh
                  9,471/Month
                  Total Premium payable: 32.29 lakh
                  19,378/Month
                  Total Premium payable: 66.06 lakh
                  12,111/Month
                  Total Premium payable: 41.29 lakh
                  60 Years (PPT: 25 years)12,611/Month
                  Total Premium payable: 35.83 lakh
                  7,882/Month
                  Total Premium payable: 22.39 lakh
                  14,826/Month
                  Total Premium payable: 42.12 lakh
                  9,266/Month
                  Total Premium payable: 26.32 lakh
                  22,239/Month
                  Total Premium payable: 63.18 lakh
                  13,899/Month
                  Total Premium payable: 39.49 lakh
                  27,941/Month
                  Total Premium payable: 79.38 lakh
                  17,463/Month
                  Total Premium payable: 49.61 lakh