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                • Income Tax Rules Changes
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                Tax Saving Investments

                ₹10K/m invested since 2005
                would have been ₹2.59Cr.#^Now

                Tax saving investments are central to financial planning and growth as they offer tax saving under Section 80C and 80CCC of the Income T
                ax Act of India – while also acting as a backup plan for unexpected expenses and emergencies.
                As individual taxpayers, you pay taxes on your expenses and incomes. Taxes which apply to your expenses are ‘indirect taxes’, and the taxes applicable to your income are the ‘direct taxes’. To reduce the income tax burden, you can go for tax saving investments and claim deductions for the same as per Income Tax Act, 1961.
                ...Read More

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                Tax savings
                up-to Rs 46,800##
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                Additional
                Critical Cover@>
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                Guaranteed*#
                Returns
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                Unlimited Free
                Switches
                ₹10K/m invested since 2005
                would have been ₹2.59Cr.#^Now
                stickyImage

                Tax saving investments are central to financial planning and growth as they offer tax saving under Section 80C and 80CCC of the Income T
                ax Act of India – while also acting as a backup plan for unexpected expenses and emergencies.
                As individual taxpayers, you pay taxes on your expenses and incomes. Taxes which apply to your expenses are ‘indirect taxes’, and the taxes applicable to your income are the ‘direct taxes’. To reduce the income tax burden, you can go for tax saving investments and claim deductions for the same as per Income Tax Act, 1961.
                ...Read More

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                Written by

                Alok Mishra
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                Alok Mishra

                Insurance Writer

                Alok Mishra is a Digital and Content Marketing specialist with 10 years of experience. He has spearheaded Web Content, Social Media & Branding, and Community Building initiatives to drive growth for prominent brands.

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                Reviewed by

                Bhaskar Sinha
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                Bhaskar Sinha

                Insurance Expert

                8+ years of experience in Life Insurance with expertise in Developing Life and Health Products, Digital Sales, Conducting effective trainings and Key Account Management.

                View in (हिन्दी)

                Basics of Income Tax Investments

                Taxes are one of the essential instruments for the survival of the state. Taxes collected by the Government helps in running the development projects in the country, including defence, and healthcare.

                Taxpayers of the country comprise of individuals, firms and institutions. Taxes are inevitable for anyone earning and spending money.

                Any person having income above the prescribed basic exemption limit is liable to file an Income tax return for the fiscal year, regardless of the tax liability. Also, you have various options to reduce your Income-tax liability. These are called ‘tax saving instruments.’

                But you need to focus on tax saving only if you are liable to pay income tax.

                Smart Income Tax Saving Tips

                smartIncomeTaxSavingTips.jpg

                “Next to being shot at and missed, nothing is quite as satisfying as an income tax refund.” – F.J. Raymond

                Tax saving is a benefit you can avail for selective investment options and expenses. You anyways need to invest money to achieve your financial goals. Investments which save tax can help you in two ways:

                • Invest more and have more disposable income
                • Grow your Investment faster

                Then why not, invest in your goals using tax efficient investments.

                Here are our top picks for tax saving instruments according to your life stage:

                1.Smart Income Tax Saving for Young Unmarried Tax-Payers & Single Income Couples

                If you are in your late 20s and early 30s, and unmarried, or you are married, but only one of you is earning, the best tax saving options for you will be:

                • Buy Term Insurance cover with a Sum Assured equal to 15 to 20 times of your annual income
                • Public Provident Fund (Provide EEE benefits)
                • Allocate at least 20% of your annual income to Market-linked Investment Options which offer EEE benefits. For example:
                • Unit Linked Insurance Plans (ULIPs) or Wealth Plans from Axis Max Life
                • Equity Linked Savings Schemes (ELSS)

                Start Investing at least 10% of your annual income in a pension fund, like

                • National Pension Scheme (you can save Rs. 50,000 more)
                • Pension Funds from Axis Max Life Insurance

                Save up to Rs.1 lakh under Section 80D

                • Buy a Mediclaim health insurance cover for self
                • Buy a Mediclaim health insurance cover for parents
                • Cover yourself against critical illnesses like cancer (final stage only), renal failure etc.
                • Get cancer (all stages) cover for self

                Invest in House Property for an Additional Tax Saving on interest amount up to Rs.2 lakh u/s 24(b)

                2.Smart Income Tax Saving Tips for Single Income Couple - Parents

                If you are a parent and one of you is earning, your investment options change a little to suit your financial goals. Investing as per your financial needs will not only help you save tax but also meet the goals of your kids:

                Save up to Rs. 1.5 lakh under Section 80C

                • Buy Term Insurance cover with a Sum Assured equal to 15 to 20 times of your annual income
                • Public Provident Fund (PPF)
                • Allocate at least 20% of your annual income to Market-linked Investment Options which offer EEE benefits. For example: Unit Linked Insurance Plans (ULIPs) or Wealth Plans from Axis Max Life, Equity Linked Savings Schemes (ELSS),Child Plans and ULIPs from Axis Max Life
                • Additionally, you can also claim children’s tuition fee for deduction under 80C

                Invest at least 10% of your annual income in a pension fund, like

                • National Pension Scheme (you can save Rs. 50,000 more)
                • Pension Funds from Axis Max Life Insurance

                Save up to Rs.1 lakh under Section 80D

                • Buy a Mediclaim health insurance cover for self, spouse and kid
                • Buy a Mediclaim health insurance cover for parents
                • Cover yourself against critical illnesses like cancer (final stage only), renal failure etc.
                • Get cancer (all stages) cover for self

                Invest in House Property for an Additional Tax Saving of home loan interest amount up to Rs.2 lakh under Section 24(b)

                Use education loan to fund the kid’s higher education. The interest on education loan is completely deductible under section 80E

                3.Smart Income Tax Saving Tips for Double Income Couples

                If you are married and both of you are earning, jointly you can claim more than Rs.8.5 lakh in deductions with investments and insurance:

                • Save up to Rs.3 lakh under 80C
                • Both of you should buy separate term insurance covers with a sum assured equal to 15 to 20 times of your annual incomes
                • Public Provident Fund (PPF)
                • Allocate at least 20% of your annual household income to Market-linked Investment Options which offer EEE benefits. For example: Unit Linked Insurance Plans (ULIPs) or Wealth Plans from Axis Max Life, Equity Linked Savings Schemes (ELSS)

                Start Investing at least 10% of your annual household income in a pension fund, like

                • National Pension Scheme (you can save Rs.1 lakh more)
                • Pension Funds from Axis Max Life Insurance

                If you are a parent

                • One of you can claim the school fee paid (or if you have two kids then divide the school fee paid)
                • Invest in Child Plan
                • Save up to Rs.2 lakh under Section 80D
                • Buy a Mediclaim health insurance cover for self (both spouses should opt for separate Mediclaim covers)
                • Buy a Mediclaim health insurance cover for your (applicable to both spouses) parents
                • Cover yourself against critical illnesses like cancer (final stage only), renal failure etc.
                • Get cancer (all stages) cover for self
                • Invest in a House Property for additional Tax Savings on home loan interest up to Rs.4 lakh
                • Invest in joint names or different properties
                • Both spouses can only claim the respective amounts they have paid towards the home loan interest

                Tax Saving Tips for Retired or Pensioners

                • After retirement, the absence of monthly salary can become a problematic situation if enough funds are not available to manage your regular expenses
                • You can overcome this problem by opting for annuity schemes, which not only provide regular income in your golden days but also help save on taxes
                • ‘Senior Citizen’s Saving Scheme’ is one such annuity scheme, which is the first choice of most retirees
                • 1.The scheme is available only to individuals above 60 and can be availed from a post office or a bank

                  2.Investments in this scheme are eligible for tax benefits under Section 80C and allow premature withdrawals as well

                • Insurance companies also offer special annuity products, which provide a regular income post-retirement
                • Annuity plans provide tax benefits as no tax is charged on your invested money until you plan to withdraw it
                • Besides annuity plans, Unit Linked Insurance Plans (ULIPs) also make a good tool for retirement fund creation
                • Moreover, keeping your funds invested in ULIPs allows you tax benefits under:
                • 1.Section 80C: tax exemption of up to Rs.1.5 lakh on your premiums

                  2.Section 10D: allows you to withdraw tax-free proceeds at maturity

                • This saves a substantial amount of your money as these tax-free withdrawals help replace your taxable pension (as withdrawals on annuity plans are taxed)
                • You can invest into the following tax-saving instruments you can avail benefits under section 80C and beyond

                Smart Tax Saving Tip for Tax-payers Falling in the Highest Tax Bracket

                • When you fall into the highest tax bracket and have exhausted all options of tax saving, you can reduce your taxable income by:
                • 1.Transferring large sums to your non-earning spouse against an asset, like jewellery, etc.

                  2.Invest in the name of your parents who are retired and may fall into the lower tax bracket

                  3.Do not though,any transfer of an asset without adequate consideration will lead to clubbing of the income of that asset in your hands

                Smart Tax Saving Tips If You Are Running a Family Business

                The business itself offers huge tax saving opportunity in the early stages. However, once you have a long-established business becoming a cash cow, your income from the business assets may rise greatly.

                If your income from the family business is landing you and your family in the top tax brackets, you can form an HUF to reduce the tax outgo. HUF can help you evenly distribute the income among the family members and reduce your overall tax outflow on the income.

                Income Tax Liability

                Income Tax Liability.jpg

                Are You Liable to Pay Income Tax?

                Indian direct tax system offers a calculation of tax liability based on tax slabs. It also offers a minimum threshold for zero tax liability, based on the age of the taxpayer. Meaning, if your taxable income falls within the first (lowest) slab, your tax liability would be zero.

                According to the Interim Budget 2019, Individual taxpayers with taxable annual income up to Rs.5 lakh are eligible to receive full tax rebate under Section 87A, and therefore, will not have to pay any income tax. in addition, the income tax slabs and rates will remain unchanged for the FY 2022-23.

                What is the Minimum Threshold for Income Tax?

                The minimum income threshold depends on the age of the taxpayer (Resident/ Non-resident). The minimum threshold is:

                • Rs.2.5 lakh if you are below the age of 60 or filing tax as a Hindu Undivided Family (HUF)
                • Rs.3 lakh if your age is 60 to 79 years
                • Rs.5 lakh when you are 80 years and above

                What will be the Tax Liability After the Minimum Threshold?

                After you cross the minimum threshold, your excess income becomes taxable at the following rates:

                For Individuals below the Age of 60 Years

                Income Tax Slab (in Rs.)Applicable Tax
                Up to 2,50,000Nil
                2,50,001 to 5,00,0005%
                5,00,001 to 10,00,000Rs. 12,500 + 20% of total income exceeding 5,00,000
                Above 10,00,000Rs. 1,12,500 + 30% of total income exceeding 10,00,000

                For Individuals of the Age of 60 or above But Less Than 80 Years (Senior Citizens)

                Income Tax Slab (in Rs.)Applicable Tax
                Up to 3,50,000Nil
                3,00,001 to 5,00,0005%
                5,00,001 to 10,00,000Rs. 10,000 + 20% of total income exceeding 5,00,000
                Above 10,00,000Rs. 1,10,000 + 30% of total income exceeding 10,00,000

                For Individuals of the Age of 80 Years or above (Super Senior Citizens)

                Income Tax Slab (in Rs.)Applicable Tax
                Up to 5,00,000Nil
                5,00,001 to 10,00,00020%
                Above 10,00,000Rs. 1,00,000 + 30% of total income exceeding 10,00,000

                Also, if your total income is up to Rs.5 lakh, you are eligible for a full tax rebate under section 87A

                There is a 4% Cess of tax applicable across income groups. In addition, there is a Surcharge at:

                • 10% for income above Rs.50 lakh but upto Rs.1 crore
                • 15% for income above Rs.1 crore but upto Rs.2 crore
                • 25% for income above Rs.2 crore but upto Rs.5 crore
                • 37% for income above Rs.5 crore

                The slabs are applied to the total income. However, the minimum tax exemption limit will vary as per the individual taxpayer’s age.

                That means if you are below 60, and your annual taxable income had been Rs.7 lakh your income tax liability can go up to Rs.52,500 plus cess, for FY 2022-23.

                That is, 5% of Rs.2.5 lakh (Rs.2.5 lakh to Rs.5 lakh) after the minimum exemption threshold (Rs.2.5 lakh) and 20% of remaining Rs.2 lakh.

                But this is a hypothetical scenario, where you have zero tax saving investments or spends.

                If you allocate your savings in tax saving investments through the financial year, you may reduce your tax liability to as low as zero.

                How to File Your Income Tax Return?

                • You can file your income tax return electronically on the income-tax portal incometaxindiaefiling.gov.in provided by the Government of India
                • Filing the return online is an easy and straightforward process. First, you need to create your login on the e-filing portal. You will need your PAN card details to create the login. It is advisable to assign your Aadhaar Number as well to your ITR for easier processing
                • Once you log in to the account, you can select your assessment status and year of filing to access the applicable ITR form
                • Fill the information in the ITR form as prompted. If you are salaried, it is recommended to use Form 16from your employer and 26AS as well, while filing ITR online
                • Alternatively, you can engage the services of a Tax Return Preparers (TRPs) authorized by the Government of India

                What is the Maximum Tax Saving That You Can Avail?

                Considering that you maximize your tax savings using investments, and voluntary spends, you may reduce your taxable income by Rs. 4,75,000 (details below) for FY 2022-23 (AY 2023-24.) Rs. 4,75,000 includes the following commonly available deductions:

                DeductionsMax Amount (Rs.)
                Standard deduction50,000
                Section 80C150,000
                Section 80CCD(1B) NPS50,000
                Section 80D25,000
                Section 24(b)200,000
                Section 80DTotal

                Disclaimer: This limit only includes, investments and expenses any taxpayer can voluntarily incur.

                The amount of tax you end up saving through the investments and expenses above depends on your income. See the cases below to get an idea:

                CASE 1

                Shobhit is a 27-year old Business Analyst. His taxable income in the financial year 2019-20 is Rs. 7,50,000 (without TDS).

                His tax liability for FY 2022-23 would be:

                • Rs. 52,520*without tax saving investments (after standard deduction & deduction u/s 80TTA)
                • Zero tax liability with maximum tax saving investments (after deduction u/s 80TTA and other deductions)

                *as per the applicable tax slabs & cess

                See Calculation Details

                Without any tax savings, Shobhit’s net taxable income (Rs. 750,000) goes up into the 20% tax slab. Without tax saving investments his total tax would be:

                Total Taxable IncomeRs. 750,000
                (Minus) Tax Saving Investments/Spends – Standard DeductionRs.(50,000)
                (Minus) Section 80TTA (savings in banks, post office, etc)(10000)
                Net Taxable IncomeRs.690,000
                Tax on Net Taxable Income:
                20% of Rs. 190,000 (Rs.690,000 – Rs.500,000)Rs. 38,000
                (Add) 5% of Rs. 250,000 (500,000 – 250,000)+12,500 
                Total Tax on Income50,500
                (Add) 4% Cess+ 2020
                Total Tax Payable in FY 2012-23Rs. 52520

                However, with tax saving:

                Total Taxable IncomeRs. 750,000
                (Minus) Tax Saving Investments/SpendsRs.(475,000)
                (Minus) Section 80TTA (savings in banks, post office, etc)(10000)
                Net Taxable IncomeRs.265,000
                Tax on Net Taxable Income:
                5% of Rs. 15,000 (265,000 – 250,000)Rs.750
                Rebate u/s 87A (Rs.12,500 or Actual Tax payable; whichever is less)Rs.(750)
                Total Tax on IncomeNIL

                CASE 2

                As Rajni is a 40 year old businesswoman and runs her own clothing store. Her taxable income in the financial year 2019-20 is Rs. 15,00,000.

                She will need to pay the following amount as tax on her income in FY 2022-23:

                Rs. 2,69,880* if she does not invest or spend anything for tax saving (after deduction under Section 80TTA)

                Rs. 137,280* if she maximizes her tax saving investments (after other deductions & deduction u/s 80TTA)

                • as per the applicable tax slabs & cess

                She can save Rs. 132,600 in direct taxes using tax saving investments.

                See Calculation Details

                Without any tax savings, Rajni’s net taxable income (Rs. 15,00,000) goes up into the 30% tax slab. Thus, the total liability of Rs. 269,880:

                Total Taxable IncomeRs. 15,00,000
                (Minus) Tax Saving Investments/Spends Section 80TTA10000
                Net Taxable Income14,90,000
                Tax on Net Taxable Income:
                30% of Rs. 490,000 (14,90,000 – 10,00,000)Rs. 147,000
                20% of Rs. 500,000 (10,00,000 – 500,000)+ 100,000
                (Add) 5% of Rs. 250,000 (500,000 – 250,000)+ 12,500
                (Add) 4% Cess+ 10,380
                Total Tax Payable in FY 2022-23Rs. 269,880

                However, with maximum tax saving, the breakup of her net taxable income and tax implication is as follows:

                Total Taxable IncomeRs. 15,00,000
                (Minus) Tax Saving Investments/Spends (475000 – 50000)(Rs. 425,000)
                (Minus) Section 80TTA (savings in banks, post office, etc)(10000)
                Net Taxable IncomeRs.10,65,000
                Tax on Net Taxable Income:
                30% of Rs. 55,000 (10,65,000 – 10,00,000)19500
                20% of Rs. 500,000 (10,00,000 – 500,000)Rs. 100,000
                (Add) 5% of Rs. 250,000 (500,000 – 250,000)+ 12,500
                Total Tax on Income132,000
                (Add) 4% Cess+ 5280
                Total Tax Payable in FY 2022-23Rs. 137,280

                **As Rajni is a businesswoman, she will not get the benefit of Standard Deduction of Rs. 50000. As the benefit of standard deduction is only provided to the salaried individuals.

                Rajni can save up to Rs. 132,600 (Rs.269,880 – Rs.137,280) by maximizing her tax saving investments in F.Y. 2019-20.



                CASE 3

                Mukesh is 65 years old. He’s one of the Directors of a Consumer Electronics Firm. His taxable income in F.Y. 2019-20 has been Rs. 20,00,000

                Mukesh will need to pay the following amounts as income tax in FY 2022-23:

                Up to Rs. 3,95,200*without tax saving investments (after standard deduction & deduction u/s 80TTB)

                Only Rs. 2,62,600*with maximum tax saving investments (after deduction u/s 80TTB & other deductions)

                • as per the applicable tax slabs & cess

                See Calculation Details

                Without any tax savings, Mukesh goes up into the 30% tax slab with his net taxable income of Rs. 20 lakh. Thus, the total liability of Rs. 3,95,200:

                Total Taxable IncomeRs. 20,00,000
                (Minus) Tax Saving Investments/Spends (Standard Deduction)(50,000)
                (Minus) Deduction of Interest on Bank Savings, Post Office under Section 80TTB for Senior Citizens(50000)
                Net Taxable Income19,00,000
                Tax on Net Taxable Income:
                30% of Rs. 9,00,000 (19,00,000 – 10,00,000)Rs. 2,70,000
                20% of Rs. 500,000 (10,00,000 – 500,000)+ 100,000
                (Add) 5% of Rs. 200000 (500,000 – 300,000)+ 10,000
                Total Tax on Income3,80,000
                (Add) 4% Cess+ 15200
                Total Tax Payable in FY 2022-23Rs. 3,95,200

                **As Mukesh is a senior citizen, he can avail deduction on bank saving, post office interest up to Rs.50000 under Section 80TTB.

                Minimum tax-exempt income is Rs. 300,000 for taxpayers between 60 and 79 Years of age

                Although even with maximum tax saving, his net taxable income remains in the highest tax bracket, it reduces enough to reduce his total tax liability by little more than Rs. 132600:

                Total Taxable IncomeRs. 20,00,000
                (Minus) Tax Saving Investments/Spends(Rs. 4,75,000)
                (Minus) Deduction of Interest on Bank Savings, Post Office under Section 80TTB for Senior Citizens(50000)
                Net Taxable Income14,75,000
                Tax on Net Taxable Income:
                30% of Rs. 4,75,000 (14,75,000 – 10,00,000)Rs. 1,42,500
                20% of Rs. 500000 (10,00,000 – 500,000)+ 100000
                (Add) 5% of Rs. 200000 (500,000 – 300000)+ 10,000
                Total Tax on Income2,52,500
                (Add) 4% Cess+ 10100
                Total Tax Payable in FY 2022-23Rs. 2,62,600

                **Under Section 80TTA, regular individuals can claim a deduction up to Rs.10000 only. As Mukesh is a senior citizen, he can avail deduction on bank saving, post office interest up to Rs.50000 under Section 80TTB.

                Income Tax Investments Under Section 80C

                The commonly available deductions are available to any Indian tax-payer. Thus, if you are filing your income tax returns as a resident Indian, salaried or self-employed, or as a non-resident Indian (NRI) you can use these deductions to reduce your taxable income and tax liability.

                Claim Deductions up to Rs.1.5 lakh under Section 80C

                Section 80C consists of multiple investments and expense items. If you invest money in any of the products or expenses listed below, you can reduce your taxable income by up to Rs.1.5 lakh.

                SR. NOINVESTMENTS ELIGIBLE FOR TAX DEDUCTIONSDESCRIPTION
                1Home Loan Principal Repayment

                Applicable to the first house property.

                Home loan EMI consists of two major components: Principal and Interest.

                Section 80C allows you to claim tax benefits on the principal paid.

                2Life Insurance Premiums

                Life insurance premium, including payments for unit linked insurance plans, are eligible for tax benefits under section 80C.

                The limit for claiming the benefits is Rs.1.5 lakh, which means if you make no other investments but pay Rs.2 lakh towards your life insurance policy, then Rs.1.5 lakh will be eligible for tax benefits.

                *Exemption allowed for premium upto 10% of sum assured (20% if policy issued before 01.04.2012)

                3Five-Year Bank Fixed Deposits

                Term deposit with a tenure of at least five years qualify for deduction under section 80C.

                4Equity Linked Savings Schemes (ELSS)

                Investment in mutual funds, especially the equity-linked savings scheme makes you eligible for tax exemption under this section.

                ELSS funds provide maximum tax benefit up to Rs.1.5 lakh per annum and come with a lock-in period of 3 years.

                5Provident Funds

                All contributions made under different types of provident funds like PPF (Public Provident Fund), EPF (Employee Provident Fund) and VPF (Voluntary Provident Fund) are eligible for tax benefits under Section 80C.

                6National Pension Scheme (NPS)

                Investment into Tier I account (meant for retirement) of NPS, is eligible for deduction under sec 80C

                6National Savings Certificate (NSC)

                Investment made in these certificates, which come with a maturity period of 5 and 10 years, is also eligible for tax benefits up to Rs. 1.5 lakh.

                7Sukanya Samriddhi Account

                Announced by the Indian government in early 2015, this special account allows parents to open an account for their girl child. Parents can deposit money up to Rs.1.5 lakh each year.

                8School/College Education Expenses

                The amount paid by parents as tuition fees of their children, (at the time of admission or thereafter), is eligible as a deduction under Section 80C.

                However, the fees should be paid to a school, college, or university in India only.

                9Pension Funds

                You can secure your retirement by investment in pension funds and become eligible for deduction under this section.

                10Senior Citizen Saving Scheme

                This scheme is available only for individuals in 60 or above age group. The investment made into this scheme makes you eligible for tax benefits under this section.

                11Post Office Time Deposits

                Similar to bank fixed deposits, time deposits held at post office also are eligible for tax benefits under section 80C.

                Increasing Your Deduction to Rs.2 lakh under Section 80C

                Section 80CCD(1B) - For NPS Subscribers


                This is possible only for NPS , NPS Lite and Atal Pension Yojana (APY) subscribers. Under section 80CCD (1) subscribers of NPS Tier-I (retirement savings account) can claim deduction up to the normal 80C limit of Rs. 150,000.

                Additionally, you can claim deduction of up to Rs. 50,000 under Section 80CCD (1B) which is for contributions made by individual taxpayers towards NPS, NPS Lite & APY. So, the total exemption limit available becomes Rs.2 lakh:

                • Rs.1.5 lakh (Section 80C + Section 80CCD (1) + Section 80CCC)

                • Rs.50,000 under Section 80CCD(1B)

                Tax Saving Investment Options

                Investment options which enjoy all the three types of exemptions are the best, or most tax-efficient. Usually, the order of exemption goes as follows:

                Best Tax SavingStill BetterOkay Option
                Invested MoneyExemptExemptExempt
                Interest/IncomeExemptExemptTaxable
                Maturity ValueExemptTaxableTaxable
                Investment typeEEEEETETT

                EEE Investment Options with Axis Max Life Insurance

                Axis Max Life Insurance offers multiple investment plans which can save your income tax under 80C and offer tax exempt growth. You can invest in multiple of these plans as per your financial goals and needs.

                Term Insurance Plans & Protection Plans

                • Axis Max Life Smart Secure Plus Plan (UIN: 104N118V02, A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan)

                Market Linked Investment Plans for Long-term goal planning (ULIPs)

                • Axis Max Life Fast Track Super Plan (UIN: 104L082V04; A Unit Linked Non Participating Individual Life Insurance Plan)
                • Axis Max Life Platinum Wealth Plan (UIN: 104L090V04, A Unit Linked Non Participating Individual Life Insurance Plan)

                Children’s Education Goal Investment Options

                • Axis Max Life Future Genius Education Plan (UIN:104N094V03, A Non-Linked Participating Individual Life Insurance Savings Plan)
                • Axis Max Life Shiksha Plus Super (UIN: 104L084V04, A Unit-Linked Non-Participating Individual Life Insurance Plan)

                Retirement Planning Investment Options

                • Axis Max Life Forever Young Plan (UIN: 104L075V03, A Unit-Linked Non-Participating Individual Pension Plan)
                • Axis Max Life Guaranteed Lifetime Income Plan (UIN: 104N076V11, Non-Linked Non-Participating Individual General Annuity Savings Plan)
                • Axis Max Life Perfect Partner Super (UIN - 104N077V03, A Non Linked Participating Individual Life Insurance Savings Plan)


                Guaranteed Saving and Income Plans

                • Axis Max Life Smart Wealth Plan (UIN: 104N116V06, Non-Linked Non-Participating Individual Life Insurance Savings Plan)
                • Axis Max Life Smart Wealth Income Plan (UIN: 104N120V01, Non-Linked Participating Individual Life Insurance Savings Plan)
                • Axis Max Life Online Savings Plan (UIN: 104L098V04, Unit Linked Non-Participating Individual Life Insurance Plan)

                Deduction up to Rs. 1,00,000 under Section 80D for Medical Insurance & Expenses

                Section 80D offers a tax deduction for the following investments/expenses:

                • Premiums paid for Mediclaim/Health Insurance
                • Premium paid for critical illness health insurance plans
                • Preventive health check expenses

                Healthcare expenses for senior citizen parents


                HEALTH PREMIUM PAID FOR

                DESCRIPTIONSELF, SPOUSE AND DEPENDENT CHILDRENPARENTSMAX DEDUCTION UNDER SECTION 80D
                Everyone is below 60 years of ageRs. 25,000Rs. 25,000Rs. 50,000
                When your parents have crossed the age of 60Rs. 25,000Rs. 50,000 (incl. Expenses)Rs. 75,000
                You and your parents have passed the age of 6050,000Rs. 50,000 (incl. Expenses)Rs. 1,00,000

                Preventive healthcare expense of up to Rs. 5000 is part of the maximum limit under this Section.


                Example of Estimating Deduction Under Section 80D


                Paramjit is 37 years old and married to Kiran, both are employed. They have two kids. Paramjit’s parents are financially independent, but Paramjit pays their health insurance premiums, as they don’t want to buy a health plan at their age. They are over 70 years of age. Similarly, Kiran has bought a senior citizen health plan for her parents.

                Paramjit and Kiran have paid the following amount of premiums and care expenses in the F.Y. 2019-20:

                Paramjit paid:

                • Rs. 18,000 for family floater policy covering him, Kiran and the kids
                • Rs. 4,000 for critical illness health insurance for self
                • Rs. 48,000 for family floater Mediclaim for his senior citizen parents

                Kiran paid:

                • Rs. 3,500 for critical illness cover for self
                • Rs. 42,000 for Mediclaim cover for her parents
                • Rs. 12,000 on preventive healthcare for the family (not the parents)

                Since both Param and Kiran file their separate ITRs, they can claim the following amounts under Section 80D:

                ItemParamKiran
                Family Floater Mediclaim Premium18,000
                Critical Illness Health Cover Premium40003500
                Premium Paid for Health cover for Senior Citizen Parents48,00042,000
                Preventive Healthcare expenses (Max. 5000)5,000
                Total Applicable Claim70,00050,500

                Thus, Paramjeet can claim Rs. 70,000 as deduction under Section 80D while Kiran can claim Rs. 50,500 (whereas she spent about Rs. 57,500).


                Health Insurance Plans with Axis Max Life Insurance

                Axis Max Life Insurance offers two health insurance plans which are eligible for 80D deduction:

                • Axis Max Life Critical Illness and Disability Rider (UIN: 104B033V01, Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Rider) covering 64 critical illnesses

                Deduction up to Rs.2 lakh under Section 24(b) for Home Loan Interest


                1.Deduction up to Rs. 200,000

                2.Buying a house can offer you an additional deduction if you avail a home loan from a housing finance institution or bank.

                3.The limit of deduction on home loan interest paid is Rs.2 lakh for the current financial year (2019-20).

                4.The limit for the financial year 2019-20 is same whether you are filing a return for all the following conditions:

                • Self-occupied house
                • Vacant house (neither self-occupied nor let-out)

                Individuals can also claim deduction up to Rs.1.5 lakh on home loan interest under Section 80EEA, which is extended by the government for affordable housing. You can only avail this if:

                • The value of the house is not more than Rs.45 lakh
                • You should not own any other house property on the date of home loan sanction
                • Loan should be taken during the FY 19-20

                Apart from the home loan interest following expenses also reduce your taxable income from house properties:

                • Municipal taxes
                • Standard Deduction of 30% of net annual value (NAV) for the property
                • Standard Deduction - for Salaried Taxpayers

                Best Tax Saving Investments under Section 80C

                Some popular tax-saving options for individuals in India are under Section 80C of the Income Tax Act. It encompasses multiple investments and expenses you can claim deductions on – up to the limit of Rs. 1.5 lakh in a financial year. Following are some of the best tax saving investment options under Section 80C of the Income Tax Act, 1961:

                InvestmentReturnsLock-in Period
                5-Year Bank Fixed Deposit[2]5.30% to 7.25%5 years
                Public Provident Fund (PPF)[1]7.1%15 years
                National Savings Certificate[1]6.8%5 years
                National Pension System (NPS)[4]Varies with Plan Chosen & TenureTill Retirement
                ELSS Funds[3]15.42% to 32.67%3 years
                Unit Linked Insurance Plan (ULIP)Varies with Plan Chosen5 years
                Sukanya Samriddhi Yojana (SSY)[1]7.60%N/A
                Senior Citizen Saving Scheme (SCSS)[1]7.40%5 years

                Note:Data mentioned above are as on 2nd August, 2021 and are subject to change without prior information.

                Sources:

                [1] www.indiapost.gov.in/Financial/pages/content/post-office-saving-schemes.aspx (2021)

                [2] www.livemint.com/money/personal-finance/taxsaving-deposits-with-best-rates-11615896758990.html (2021)

                [3] www.valueresearchonline.com/funds/best-tax-savers/?return-period=3Y (2021)

                [4] www.npstrust.org.in/return-of-nps-scheme (2021)

                How to Calculate HRA Tax Exemption?

                HRA received by you from your employer is taxable based on the following conditions:

                The tax-exempt portion of the HRA is the minimum of the following:

                • Actual HRA received in the financial year
                • 50 percent of your 'salary' if your accommodation is in metro cities (Mumbai, Chennai, Delhi, Kolkata) or else 40 percent for other cities
                • Rent paid minus 10 percent of your ‘salary’

                Definition of Salary for HRA: Basic salary + dearness allowance (DA) (only that part which forms part of the retirement benefit) + commission received based on a percentage of turnover
                Example of HRA Calculation
                Mr Kiran lives in Mumbai and earns a basic salary of Rs. 30,000. The actual rent paid by Kiran is Rs 10,000 and the HRA component of his salary is Rs. 15,000. In this case, how much exemption will he get?


                To determine the exemption, calculate the amount for different factors affecting HRA calculation:

                TYPES OF TAX SAVING ACTIVITIESSECTIONMAX DEDUCTION LIMITS
                Actual HRA received:Rs 15,000 x 12Rs 180,000
                Actual rent paid - excess rent paid over 10% of the salary(Rs 10,000 x 12) – (10% of Rs 30,000 x 12)84,000
                50% of basic salary:[(Rs 30,000 x 12) x 50%]180,000

                As Rs. 84,000 is the least among the above figures, Mr Kiran will get an amount of Rs. 84,000 exempted.

                Tax Saving for Self-Employed Living on Rent

                You can still claim a deduction for the house rent paid, even if you are self-employed or do not receive HRA along with your salary.

                Section 80GG of the Indian Income Tax Act allows a deduction of up to Rs. 60,000 for F.Y. 2019-20.

                The deduction is applicable on per month basis with maximum amount limited to Rs. 5000 a month.

                The amount you can claim a deduction will be the least out of the following:

                • Rs. 5000 per month
                • 25% of total income
                • The amount of actual rent paid over 10% of income

                See the example below to understand how much will apply to you:

                Sandeep stays in a PG accommodation and pays Rs. 4500 as monthly rent starting Jan 2018. He paid the same rent till December 2018 and then the rent will increase to Rs. 5000 per month.

                Sandeep is employed and earned salary income of Rs. 300,000 for the financial year 2019-20. He does not receive HRA.

                Total amount of deduction he can claim under section 80GG will be the lowest of:

                Rs. 5000 per month or Rs. 60,000

                25% of Rs. 300,000 or Rs. 75,000

                (Rent Paid – 10% of Salary) or (55,500 – 30,000) = Rs. 25,500

                Thus, Sandeep can claim Rs. 25,500 as deduction under section 80GG.

                Other Tax Deductions for FY 2022-23

                • Tax Saving for Tax-Payers Staying on Rent
                • Tax Saving for Salaried Individual Living on Rent

                If salary is the major taxable income for you, you should look for the House Rent Allowance (HRA) on your salary slip. HRA is usually 50% of your basic salary and the second highest component of it.

                Other Deductions & Exemptions Available to Indian Tax-Payers

                TYPES OF TAX SAVING ACTIVITIESSECTIONMAX DEDUCTION AMOUNT
                Expenses on a handicapped dependent80DDFor Disability more than 40% but up to 80%: Rs. 75,000

                For severe disabilities (above 80%): Rs.1.25 Lakh

                Treatment of specified illnesses for self or dependent80DDBBased on Taxpayer's Age:
                Less than 60 years - Rs. 40,000
                60 years or Above-&nbsb;Rs. 1,00,000
                Education loan interest payment80EActual interest paid (for initial 8 years)
                Home loan interest payment for first-time home-owners80EEUp to Rs. 50,000 (additional deduction over sec. 24(b))
                Donations to approved charitable institutes80G50% or 100% of the donated amount
                Contributions made to a political party by companies and individuals respectively80GGB
                80GGC
                Nil. 100% actual contribution made, by other than cash only.
                Saving account interest80TTAUp to Rs. 10,000
                Handicapped tax-payers can claim this deduction80UDisability more than 40% but up to 80% - Rs.75,000
                Severe disabilities (above 80%) - Rs.1.25 lakh
                Royalty or patent income80RRBUp to Rs. 3 lakh
                Received Gift56(2)Up to Rs. 50,000

                How to Form a HUF?

                A Hindu, Sikh, Jain or Buddhist family with at least one male member can form an HUF

                • Create the Deed for HUF
                • Karta can transfer income generating assets to HUF as gifts
                • Get a separate PAN card for the HUF
                • Open a bank account in the name of HUF

                What are the Benefits of Forming an HUF?

                There are several advantages of forming an HUF such as:

                • Family members can split the family’s income and file taxes separately, thus reducing their tax liability on both individual and HUF tax return.
                • Ancestral joint family assets are not a requirement for the HUF to exist.
                • Women in the family can make a gift towards the HUF and gift property in their name.
                • Getting loans is easier for the members of an HUF.
                • The official status of an HUF and its control can remain with the women of the family in the event of the death of the last male member, without any need to dividing the acquired or ancestral assets of the HUF.
                • Women can be the co-partner with their husband (or Karta) in the HUF even though they cannot start a separate account on their own
                • HUF can act as a taxpayer and invest in tax saving instruments
                • Impact of forming an HUF on Family’s Tax Liabilities

                Let us understand the significance of HUF’s and their impact on tax savings with an example.

                Consider a family of four - husband, wife and two children. Husband’s income is Rs.24 lakh, and his wife’s income is Rs. 18 lakh. They also have a family run business from which the annual earnings amount to Rs. 8 lakh. These earnings can be either taxed in the hands of husband, wife or both.

                Situation 1

                If the earnings are taxed in the hands of the husband, who is currently in 30% tax bracket, he would require paying 30% of Rs. 8 lakh, i.e. Rs. 2.4 lakh as tax.

                Situation 2

                If the earnings are taxed in the hands of the wife, who is currently in 30% tax bracket, again she would require paying 30% of Rs. 8 lakh, i.e. Rs. 2.4 lakh as tax.

                Situation 3

                If the earnings are taxed equally in the hands of both husband and wife, both would require paying tax at 30% on Rs. 4 lakh, i.e. Rs 1.2 lakh each.

                Situation 4

                However, if the income from the family-run business is taxed in the hands of HUF, the tax payable by the HUF as computed as per the tax slabs would be approx. Rs. 75,000.


                Therefore, taxing the earnings from the family-run business under HUF would lead to a tax saving of Rs. 1,65,000 lakh per annum (Rs. 2,40,000 – Rs. 75,000).

                Appendix 1: Tax Slabs & Total Liabilities FY 2022-23 (AY 2023-24)

                Health & Education Cess at 4% of Maximum Tax Liability will apply to all taxpayers.

                Tax Slab for Individuals below 60 Years of Age

                AGEINCOME TAX SLABSTAX RATEMAX. LIABILITY (Rs.)
                Up to 2,50,000NilNil
                2,50,001 to 5,00,0005%12,500
                Less than 60 years5,00,001 to 10,00,00020%112,500
                More than 10,00,00030%112,500 + 30% of (Income – 10 Lakh)

                Tax Slab for Individuals ageing between 60 to 80 years (Senior Citizens)

                AGEINCOME TAX SLABSTAX RATEMAX. LIABILITY (Rs.)
                Up to 3,00,000NilNil
                3,00,001 to 5,00,0005%10,000
                60 years to 79 years5,00,001 to 10,00,00020%110,000
                More than 10,00,00030%110,000 + 30% of (Income – 10 Lakh)

                Tax Slab for Individuals ageing 80 Years or above (Super Senior Citizens)

                AGEINCOME TAX SLABSTAX RATEMAX. LIABILITY (Rs.)
                Up to 2,50,000NilNil
                2,50,001 to 5,00,000NilNil
                80 years or above5,00,001 to 10,00,00020%100,000
                More than 10,00,00030%100,000 + 30% of (Income – 10 Lakh)

                Surcharge on the Tax

                If your taxable income is more than Rs. 50 Lakh in the financial year 2019-20, a surcharge may apply to the total tax payable.

                The surcharge, like the Health & Education Cess, is applicable to the tax payable on the total taxable income. The surcharge can be calculated using the below-mentioned rates:

                Surcharge: 10% of income tax, where the total income exceeds Rs.50 lakh up to Rs. 1 crore

                Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore but upto Rs. 2 crore

                Surcharge: 25% of income tax, where the total income exceeds Rs.2 crore but upto Rs. 5 crore

                Surcharge: 37% of income tax, where the total income exceeds Rs.5 crore

                Appendix - 2: Deductions Available to Resident Individuals & HUF

                TYPES OF TAX SAVING ACTIVITIESSECTIONMaximum DEDUCTION LIMITS
                Investments & Expenses80C
                80CCC and 80CCD(1)
                up to Rs. 1,50,000
                Additional NPS Investments80CCD(1B)up to Rs. 50,000
                Expenses on a handicapped dependent80DDFor Disability more than 40% but up to 80% - Rs. 75,000
                For severe disabilities (above 80%)–Rs.1.25 lakh
                Treatment of specified illnesses for self or dependent80DDBAge
                Less than 60 years - Rs.40,000
                60 or above – Rs.1,00,000
                Education loan interest payment80ENil. Actual interest paid
                Home loan interest payment for first-time home-owners80EEUp to Rs.50,000
                Donations to approved charitable institutes80G50% or 100% of the donated amount
                Rent paid by employees not having HRA80GGLesser of the following:
                25% of total income
                Rs.5000 per month
                Rent paid to exceed 10% of total income
                Contributions made to a political party by companies and individuals respectively80GGB
                80GGC
                Nil. 100% actual contribution made, by other than cash only.
                Saving account interest80TTAUp to Rs.10,000
                Handicapped tax-payers can claim this deduction80UDisability more than 40% but up to 80% - Rs.75,000
                Severe disabilities(above 80%) - Rs.1.25 lakh
                Royalty or patent income80RRBUp to Rs.3 lakh
                Received Gift56(2)Up to Rs. 50,000

                Appendix 3: Deductions Available to NRIs and PIOs (Person of Indian Origin)

                TYPES OF TAX SAVING ACTIVITIESSECTIONMaximum DEDUCTION LIMITS
                Investments & Expenses80C
                80CCC and 80CCD(1)
                up to Rs. 150,000
                Education loan interest payment80ENil. Actual interest paid
                Home loan interest payment for first-time home-owners80EEUp to Rs. 50,000
                Donations to approved charitable institutes80G50% or 100% of the donated amount
                Contributions made to a political party by companies and individuals respectively80GGB
                80GGC
                Nil. 100% actual contribution made by other than cash only.
                Saving account interest80TTAUp to Rs. 10,000
                Royalty or patent income80RRBUp to Rs. 3 lakh
                Received Gift56(2)Up to Rs. 50,000

                Tax Saving Investment FAQs

                search

                Which investment instruments are tax-free?

                Here are some investment instruments that are tax-free:

                • Life Insurance
                • Public Provident Fund
                • National Pension Scheme

                Do I have to pay taxes on the investments?

                You only must pay taxes on the sale of investments when gains are received. To figure this out, you must subtract the cost of your investment from the sale price in case you have had a gain. If that’s the case, it is vital to see if you owe taxes or not.

                How many tax-free investment instruments can one have?

                The investments made u/s 80C of the IT Act are eligible for tax exemption up to a limit of INR 1, 50,000. These investments may include PPF, fixed deposits, life insurance, bonds, etc.

                How will I be able to pay less tax on higher income?

                Investments in tax-effective index mutual funds and ETFs are a great choice. If you wish to pay less tax on a higher income, you must plan to diversify the income taxation in your retirement.

                How much should I save for my taxes?

                The government offers tax-saving investments to both self-employed and salaried individuals that help save on taxes. It is also possible for you to have tax deductions and exemptions that help you save money and lower your tax liability.

                What investments come under Section 80C of the Income Tax Act?

                Here are the investments that come u/s 80C of the Income Tax Act:
                Tax saving fixed deposits, National Pension System, Employee Provident Fund and Public Provident Fund, life insurance etc.

                What is the maximum investment limit under Section 80C?

                Section 80C provides deductions on different investments up to a maximum limit of INR 1.5 lakhs every year from taxable income.

                How can I reduce my taxes legally?

                Some ways in which you can reduce your taxes legally are:

                • Max out your employee benefits and retirement accounts
                • Aim for long-term capital gains

                ARN NO: PCP/TSI/070624

                Sources:

                www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=89

                www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=55

                www.indiapost.gov.in/Financial/pages/content/post-office-saving-schemes.aspx

                www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=134

                www.incometaxindia.gov.in/Pages/tools/deduction-under-section-80c.aspx

                www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11865&Mode=0

                www.rbi.org.in/Scripts/FAQView.aspx?Id=79

                Check out the different Online Insurance Plans from Axis Max Life!

                • Axis Max Life Smart Term Plan

                  Financial protection against serious illnesses such as kidney failure, cancer, and heart attacks

                  Flexibility to select the best premium payment alternatives based on your income and budget

                  Having life insurance and the possibility to have the payments repaid as a survival benefit

                  Know more
                • Axis Max Life Online Term Plan Plus

                  Ease of buying life cover from the comfort of your home to ensure financial benefits for your loved ones

                  3 payout options – lumpsum benefit, lumpsum with monthly income, and lumpsum with increasing monthly income

                  Additional protection with term insurance riders to cover accidents, disability, and critical illnesses

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                • Term Plan with Return of Premium

                  Option to receive the premiums paid back on successful survival of the insured till end of policy term

                  Death benefits for your family members in case of any eventuality leading to the loss of your life

                  Limited pay options to pay for term plans with return of premium - 5 Pay, 10 Pay, 12 Pay, 15 Pay, or 60 Pay

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                • Axis Max Life Critical Illness and Disability Rider

                  Additional protection against upto 64 critical illnesses depending on the rider variant you select

                  Total and Permanent Disability Cover on the occurrence of disability arising from sickness or injury

                  Wellness benefit to avail a discount on annualised renewal premiums as per healthy weeks you accumulate

                  Know more

                Why Choose Axis Max Life?

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                99.65% Death Claim Paid Percentage

                (Source : Individual Death Claim Paid Ratio as per Audited Financials for FY 2023-2024)

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                304 Offices

                (Source: As reported to IRDAI, FY 2023-24)

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                ₹1,779,409 Cr. Sum Assured

                In force (individual) (Source: Axis Max Life Public Disclosure, FY 2023-24)

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                ₹150,836 Cr. Assets Managed

                (Source: Axis Max Life Public Disclosure, FY 2023-24)

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                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.

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                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.

                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