Axis Max Life Smart Value Income & Benefit Enhancer Plan

This plan offers guaranteed benefits with the choice of 3 variants to help you plan and achieve those milestones.

This plan offers the flexibility to choose from death benefit in multiple of 5 or 7 (as per age of the Life Insured) and 11 times the annualised premium paid.

Increase protection cover by opting for riders in exchange for a small premium. PCB ensures that survival and maturity benefits continue to be paid, as and when due, in case of death of the Life Insured without having to pay the premium.

Get Higher Income via Flexi Income Benefit in the 1st policy year.

This plan offers several types of Enhanced Maturity Boosters, including Enhanced Maturity Booster for existing customer, staff, transgender lives, and for female lives. Special boosters are available on choosing higher premiums.

You have an option to Advance your Future Milestone Benefit to meet your immediate liquidity needs during the Future Income Period (FIP).

You can enjoy inbuilt features like Sr. Citizen Benefit and Cover Continuance Option.

You get the option to accumulate your income with the company to utilise it later.

Applicable tax deduction is subject to prevailing tax laws.

This plan variant offers the flexibility to choose a premium payment term that suits your needs, where both policy terms and a Future Income Period remain fixed as per your requirements. In the first policy year, you get a Flexi Income Benefit, allowing you to select the payout level, frequency, and mode (either in advance or arrears) right from the inception. From the second policy year (or the 13th month), you will start receiving Insta Income, which will continue until the end of the policy term, based on your chosen mode (advance or arrears). When your policy matures, you have two options:

●Receive the sum assured on maturity along with the present value of the Accrued Income Booster (discounted at 9% per annum) as a lump sum along with the Enhanced Maturity Booster, if any.●Opt for Enhanced Maturity Booster, if any, followed by Future Income payments for the duration of the Future Income Period (FIP) you selected. At the end of the FIP, Future Milestone Benefit shall be provided as per the level chosen by you at inception, which will be paid out at the end of the FIP.

This plan variant offers the flexibility to choose a premium payment term, policy term, and Future Income Period (FIP) that suits your needs. In the first policy year, you get a Flexi Income Benefit, allowing you to select the payout level, frequency, and mode (either in advance or arrears) right from the start. When your policy matures, you have two options:

●Receive the sum assured on maturity along with the present value of the Accrued Income Booster (discounted at 9% per annum) as a lump sum along with the Enhanced Maturity Booster, if any.●Opt for Enhanced Maturity Booster, if any, followed by Future Income payments for the duration of the Future Income Period (FIP) you selected. At the end of the FIP, Future Milestone Benefit shall be provided as per the level chosen by you at inception, which will be paid out at the end of the FIP.

This plan variant offers a limited pay option. You can choose a premium payment term with fixed policy terms that suit your needs. In the first policy year, you get the Flexi Income Benefit, allowing you to select the payout level, frequency, and mode (either in advance or arrears) right from the start.

Starting from the second year, you will begin receiving Insta Income, which will continue until the end of the Premium Payment Term. As the policy term ends, you will receive a Maturity Benefit, which includes the Guaranteed Maturity Benefit plus Enhanced Maturity Boosters, all paid out as a lump sum.

Note: For additional details, please refer to the policy prospectus available under the Downloads section.

Survival benefit payable under the product is in the form of Insta Income benefit and Flexi Income benefit.

● Insta Income: Insta Income, if applicable, is payable from year 2 till the end of the policy term or premium paying term, depending upon the variant you choose at policy inception, provided you have paid all due premiums till the date of such payout.● Flexi Income: Flexi Income Benefit shall be paid in the first policy year, provided you have paid all due premiums till the date of such payout. At policy inception, you will have the option to choose the income amount to be received as the Flexi Income. You may also choose nil flexi income benefit.

The Maturity Benefit payable for each variant is provided in the table below:


Enhanced Maturity Booster, if any, is payable at end of the policy term.

●Future Income

Future Income, if applicable, is a part of the Maturity Benefit and is payable after the policy term, during the Future Income Period (FIP) as chosen by you at policy inception. Future income is available with Insta Wealth and Future Wealth variants only.

Future Income = Base Future Income + Accrued Income Booster (IB).

The IB will accrue at the end of each policy year starting from the 2nd policy year till the end of the policy term, provided the policy is in-force and you have paid all due premiums, and at least two full policy years’ premiums have been paid.

Note: For additional details, please refer to the policy prospectus available under the Downloads section.

●Future Milestone Benefit

The Future Milestone benefit is a lump sum amount and is a part of the Maturity Benefit. The policyholder has the option to choose at inception the percentage of Total Premiums Paid to be received as the Future Milestone benefit at the end of FIP for Insta Wealth and Future Wealth variants. The available percentages of Future Milestone Benefit are 0%, 50%, 100%, and 150%.

For Insta Wealth and Future Wealth variants, the Maturity Benefit shall be payable in future, when it is due, even after the death of the life insured during the FIP.

Note: For additional details, please refer to the policy prospectus available under the Downloads section.

The death benefit under this plan varies depending upon whether you have opted for Policy Continuance Benefit (PCB) at inception.

● When PCB is not opted by you: On death of the Life Insured anytime during the policy term, the death benefit payable shall be higher of:

     o Sum assured on death     o 105% of (Total premiums paid plus underwriting extra premiums plus loadings for modal premiums) as on the date of death of life insured     o Surrender value applicable as on date of death

Any accumulated survival benefits, if not already paid shall be paid in addition to death benefit.

Note: For additional details, please refer to the policy prospectus available under the Downloads section.

● When PCB is opted by you: The benefit payable is:

     o Death benefit; plus
     oPolicy continuance benefit (PCB)

           Death Benefit shall be higher of

           a. Sum assured on death           b. 105% of (Total premiums paid plus underwriting extra premiums plus loadings for modal premiums) as          on the date of death of life insured          c. Any accumulated survival benefits, if not already paid, shall be paid in addition to death benefit.

                Policy continuance benefit: All future survival benefits and maturity benefits shall be payable as and when                       due in future without any need for the premium payment.

Note: For additional details, please refer to the policy prospectus available under the Downloads section.

This rider provides waiver of all future premiums in case of Critical Illness or dismemberment or Death (only when Life Insured and Policyholder are different individuals). This product does not have an inbuilt Waiver of Premium benefit and thus rider benefit is an additional benefit.

This rider provides additional benefits in case of death or dismemberment of the Life Insured due to an accident.

This rider provides additional lump sum benefit in case of death of the Life Insured.

This rider provides additional lump sum benefit in case of critical illness diagnosis.

Note: No riders will be available with the policies sold through POS persons.