Individual
- Home>
- Group Insurance Plans>
- CARES Plan
Axis Max Life Corporate Advantage in Retirement and Employee Benefits Smart (CARES) Plan
In today’s dynamic business landscape, one of the most pressing concerns for forward-thinking companies is effective people management. Building a thriving workforce involves not only attracting top talent and enhancing employee productivity but also balancing the financial investment in benefits.
To meet these goals, companies that implement a well-rounded benefits strategy gain a competitive edge. However, the real test lies in managing escalating costs without compromising the quality or impact of those benefits.
Axis Max Life Corporate Advantage in Retirement and Employee Benefits Smart Plan, a structured group insurance solution designed for companies acting as policyholders, with employees as beneficiaries. It provides an adaptable and economical approach to accumulating funds for future employee-related financial commitments. As a trustee, this plan empowers you to enhance the returns on your savings while fulfilling your fiduciary responsibilities the SMART way.
3 Reasons Why this is an Ideal Plan for Employers:
- Manage your employee benefit obligations under a single plan
- Retirement and Retention tool for employees
- Minimum Guaranteed Interest Rate of 1%
What do I get with this plan?
Superannuation and more
Guaranteed Return
Annual Interest Credit
![plan3[1].webp](https://www.axismaxlife.com/static-page/assets/homepage/plan3_1_5eca749d6b.webp)
Here’s All You Need to Know about CARES Plan
- Plan Benefits
- How this plan works?
- Eligibility Criteria
- Downloads
Death Benefit
Maturity Benefit
Step 1: Select the employee benefit scheme as per your requirement
The following schemes can be covered under this plan:
a. Defined Benefit (DB)
- Superannuation
- Gratuity
- Leave Encashment
- Post-Retirement Medical Benefits Scheme
- Any scheme with significant savings element
b. Defined Contribution (DC)
- Superannuation
Step 2: Make initial contribution based on actuarial advice
The policyholder pays an initial contribution (In respect of past, initial or current contributions) for the selected employee benefit scheme.
| Group Type | Employer-Employee Only | |
|---|---|---|
| Minimum Group Size | 10 members at time of taking of the scheme, new members can join at any time | |
| Maximum Group Size | No limit | |
| Minimum Entry ages (as at last birthday) | Higher of • 18 years • Minimum age at entry as defined by scheme rules | |
| Maximum Entry age (as at last birthday) | Lower of • 79 years or • Minimum age at maturity as defined by scheme rules | |
| Minimum Maturity age (as at last birthday) | Higher of • 19 years or • Minimum age at maturity as defined by scheme rules | |
| Maximum Maturity age (as at last birthday) | Lower of • 80 years or • Maximum age at maturity as defined by scheme rules | |
| Premium Modes | Single Premium
However, Contribution may be made in any frequency and no modal factors are applicable | |
| Policy Term | One Year renewable scheme, policy will be renewed indefinitely till policyholder terminates/surrenders the policy or membership term of the existing members expires and there are no new members | |
| Minimum Initial Contribution | Defined Benefit Schemes: • Initial Contribution: Rs. 1,00,000 per scheme • Subsequent Contribution: Rs. 50,000 Defined Contribution Schemes: • Initial Contribution: Rs. 10,000 per employee per annum • Subsequent Contribution: Nil | |
| Maximum Initial Contribution | No limit, Maximum contribution will be as per the actuarial valuation AS-15(R) | |
| Death Benefit | Superannuation Scheme (both Defined Benefit and Defined Contribution) - Nil
All other Schemes- INR 10,000 per member | |
| Policy Loans | No Loans are available under the policy | |
| Top-Ups | No top-ups shall be allowed under the schemes unless required to address any deficit in funding of gratuity liability |
| Downloads | Actions |
| Prospectus | 
|
| Policy Contract |
|
| Customer Information Sheet |
|
Why Choose Axis Max Life?
99.70% Death Claims Paid Ratio
(Source: Individual Death Claims Paid Ratio as per Audited Financials for FY 2024-2025)
405 Branches
(Source: As reported to IRDAI, FY 2024-25)
₹2,191,857 Cr. Sum Assured
In force (individual) (Source: Axis Max Life Public Disclosure, FY 2024-25)
₹175,072 Cr. Assets Under Management
(Source: Axis Max Life Public Disclosure, FY 2024-25)
ARN: PDP/G/CARES/060126
Online Sales Helpline
- Whatsapp: 7428396005Send ‘Quick Help’ from your registered mobile number
- Phone: 0124 648 890009:30 AM to 06:30 PM
(Monday to Sunday except National Holidays) - service.helpdesk@axismaxlife.comPlease write to us incase of any escalation/feedback/queries.
Customer Service
- Whatsapp: 7428396005Send ‘Hi’ from your registered mobile number
- 1860 120 55779:00 AM to 6:00 PM
(Monday to Saturday) - service.helpdesk@axismaxlife.comPlease write to us incase of any escalation/feedback/queries.
NRI Helpdesk
- +91 11 71025900, +91 11 61329950 (Available 24X7 Monday to Sunday)
- nri.helpdesk@axismaxlife.comPlease write to us incase of any escalation/feedback/queries.