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Written byLakshey Bahl
Insurance Writer
Published 11th November 2025
Reviewed byVaibhav Kumar
Last Modified 1st December 2025
Insurance Domain Expert
Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider
An important lever for any business is to ensure loans against the borrower's death or inability to pay due to the borrower's illness. The purpose of the Group Critical Illness Secure (Accelerated Benefit) Rider (UIN: 104B032V03) plan is to minimize the risk of loan default in the event of your member being diagnosed with critical Illness during the period of coverage, and also helps your member get rid of his/her liability in such tough times.
- Benefit to the Policyholder/financial Institution – Group Critical Illness Secure (Accelerated Benefit) Rider protects the lender from loan defaults, in case the borrower is diagnosed with Critical Illness. Axis Max Life Insurance Limited pays out the Rider Sum assured (as per the option chosen).
- Benefit to the Loan borrower – In the event that the member is diagnosed with Critical Illness, the family does not have to surrender/ forgo the asset since part of the loan will be paid out as the rider sum assured by Axis Max Life Insurance Limited & hence reducing the burden of the regular installments.
Features & Benefits of Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider
This rider accelerates the chosen rider sum assured from the base sum assured in case your member is diagnosed with any of the specified critical illnesses, and the base plan continues for the rest of the policy term with the remaining base sum assured. This rider offers:
A) Choice of Critical Illness Variant
This rider offers you/member 2 variants (Gold & Silver). The gold Variant provides coverage against 20 critical illnesses, while the Silver variant covers you against 10 critical illnesses.
B) Flexibility To Choose Rider Sum Assured Up to 100% of the base plan
Your member has the flexibility to choose the rider sum assured as per their requirement & risk appetite. Rider sum assured cannot exceed the base policy sum assured and is subject to a maximum of ₹1 Crore.
C) Choice of Rider Term
Your member has the flexibility to select the rider term between 2 to 10 years based on their need. The rider term cannot exceed the base plan term.
Important Details about Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider
The following are the key details of Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider
| Item | Description |
|---|---|
| Product to which the rider will be attached | Axis Max Life Group Credit Life Secure (UIN: 104N072V04) Axis Max Life Group Credit Life Premier (UIN : 104N095V03) |
| Minimum Entry Age (last birthday) | 18 years |
| Maximum Entry Age (last birthday) | 69 years |
| Maximum Maturity Age (last birthday) | 77 years |
| Minimum Policy Terms | 2 years The term ‘Rider Coverage Term’ has been used to refer to the policy period of accelerated critical illness rider coverage for individual members. |
| Maximum Policy Term | 10 years The Rider Coverage Term cannot be higher than the base plan Policy Term. |
| Premium Payment Term | Min: Single Premium Max: Single Premium |
| Policy Term | Pick a term: 2-10 Years; subjected rider policy term cannot exceed base plan term The option to choose the term under a scheme rolled out by Master policyholder lies with individual member |
| Minimum Rider Sum Assured | ₹10,000 per member at cover inception 'Sum assured under health cover' means an absolute amount of benefit which is guaranteed to become payable on happening of insured health related contingency in accordance with the terms and conditions of the policy under health cover. The term ‘Rider SA (or Rider Sum assured)’ has been used to refer to the Sum assured under health cover for this rider, as defined above |
| Maximum Rider Sum Assured | Insured member can choose the Rider Sum Assured as a fixed proportion of base Sum Assured, up to 100% of base Sum Assured [capped at 1 Cr.] The option to choose the Rider Sum Assured under a scheme rolled out by Master policyholder lies with individual member. |
| Minimum Annualized Premium | Minimum premium per member is subject to minimum Rider Sum Assured per member and applicable premium rates. Sub-standard lives will be rated for extra premiums as per the Board approved underwriting policy of the company. |
| Maximum Annualized Premium | Maximum premium per member is subject to maximum Rider Sum Assured per member and applicable premium rates. However, the premium pertaining to health related or critical illness riders shall not exceed 100% of premium under the base product and the premiums under all other life insurance riders put together shall not exceed 30% of premiums under the base product. |
| Premium Rate Guarantee | The CI Premium (Single Premium) shall be guaranteed for full duration of cover opted. |
| Type of Loans | a) Home Loan b) Personal Loan c) Car Loan d) Education Loan e) Loan against Property f) Other loans* *Agri equipment/other vehicles/other loan |
| Variants/options | Gold – 20 Critical Illnesses will be covered
Silver – 10 Critical Illnesses will be covered The Master Policyholder can choose one or both of the CI Coverage option in a Master Policy. The insured member can opt one of the CI Coverage Option provided that the option was chosen by the Master Policyholder. |
| Waiting Period | A waiting period of 90 days from the date of commencement of risk |
| Survival Period | No survival period applicable |
| Death Benefit | There is no death benefit payable under this rider |
| Maturity Benefit | There is no maturity benefit payable under this rider |
| Grace Period | Not applicable |
What Critical Illnesses does Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider cover?
This rider provides a rider sum assured to the member on diagnosis of any of the critical illnesses mentioned below basis the variant opted:
| Item | Silver Variant | Gold Variant |
|---|---|---|
| Number of CIs Covered | 10 | 20 |
| 1 | Cancer Of Specified Severity | Cancer Of Specified Severity |
| 2 | Open Chest CABG | Open Chest CABG |
| 3 | Kidney Failure Requiring Regular Dialysis | Kidney Failure Requiring Regular Dialysis |
| 4 | Permanent Paralysis of Limbs | Permanent Paralysis of Limbs |
| 5 | Coma of Specified Severity | Coma of Specified Severity |
| 6 | Myocardial Infarction (First Heart Attack of Specific Severity) | Myocardial Infarction (First Heart Attack of Specific Severity) |
| 7 | Stroke Resulting In Permanent Symptoms | Stroke Resulting In Permanent Symptoms |
| 8 | Major Organ / Bone Marrow Transplant | Major Organ / Bone Marrow Transplant |
| 9 | Loss of Limbs | Loss of Limbs |
| 10 | Surgery To Aorta | Surgery To Aorta |
| 11 | - | Apallic Syndrome |
| 12 | - | Benign Brain Tumour |
| 13 | - | Primary (Idiopathic) Pulmonary Hypertension |
| 14 | - | End Stage Liver Failure |
| 15 | - | End Stage Lung Failure |
| 16 | - | Open Heart Replacement or Repair of Heart Valves |
| 17 | - | Multiple Sclerosis With Persisting Symptoms |
| 18 | - | Blindness |
| 19 | - | Third Degree Burns |
| 20 | - | Major Head Trauma |
When does Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider Coverage Terminate?
The rider cover shall terminate upon the happening of the first of the following events:
- On the date on which we receive the free look cancellation request
- Death of Life Insured
- On settlement of the claim under this rider
- On the expiry of the rider coverage term
- On the date on which the rider or base cover is cancelled or terminated for any reason
- On receipt of a written request from the life insured for surrender of the rider
- On cancellation/ termination of the cover by the Company on grounds of misrepresentation, fraud or non-disclosure, subject to section 45 of the Insurance Act, 1938, as amended from time to time
Download Rider-related Documents
Rider Prospectus
Rider Leaflet
FAQs about Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider
What is the surrender benefit under Axis Max Life Group Critical Illness Secure (Accelerated Benefit) rider?
If a life insured surrenders the rider cover due to any reason, a surrender value under the rider benefit would be paid.
The rider surrender value payable at any point of time during rider coverage term will be computed using the below formula:
70% of Premium paid for rider * (Unexpired Rider Coverage Term in months) / Total Rider Coverage Term in months) * (Rider Sum Assured applicable at time of Surrender / Rider Sum Assured at inception)
Note that the rider can be surrendered only when the base plan is surrendered and not alone.
The rider surrender value payable at any point of time during rider coverage term will be computed using the below formula:
70% of Premium paid for rider * (Unexpired Rider Coverage Term in months) / Total Rider Coverage Term in months) * (Rider Sum Assured applicable at time of Surrender / Rider Sum Assured at inception)
Note that the rider can be surrendered only when the base plan is surrendered and not alone.
How many critical illnesses are covered by the gold and silver variants of the rider?
The gold and silver variants of Axis Max Life Group Critical Illness Secure (Accelerated Benefit) rider offer coverage against 20 and 10 critical illnesses respectively.
Is there any death benefit?
No, there is no death benefit payable under this rider.
What is the maximum entry age for Axis Max Life Group Critical Illness Secure (Accelerated Benefit) rider?
The maximum entry age for Axis Max Life Group Critical Illness Secure (Accelerated Benefit) rider is 69 years (age on your last birthday).
ARN: PDP/GCISABR/181125
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