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                • Income Tax Rules Changes
                • Home>
                • Term Insurance Plans>
                • Term Plan with Return of Premium
                • Who Can Buy TROP?
                • Benefits of TROP
                • Why Choose TROP?
                • Features
                • TROP & Limited Pay
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                Term Insurance with Return of Premium

                Financially Secure Your Family
                & Get Your Premiums Back~1

                Term insurance is a popular choice amongst insurance buyers. It is a simple plan that offers financial coverage for a certain period. Al
                though a basic term insurance plan can be highly beneficial for most individuals, a term insurance with a return of premium plan can offer benefits beyond that. A term plan with a return of premium is quite similar to the usual term plan. However, the one feature that sets it apart from the regular term insurance plans is the survival benefit. Policyholders can avail survival benefits and get back the premiums (excluding GST) paid to the insurers. Some other add-on benefits associated with this plan include disability benefit, accidental death benefit, and protection against critical illness.
                ...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
                stickyImage
                99.65%^
                Death Claims Paid Ratio
                Financially Secure Your Family
                & Get Your Premiums Back~1
                stickyImage

                Term insurance is a popular choice amongst insurance buyers. It is a simple plan that offers financial coverage for a certain period. Al
                though a basic term insurance plan can be highly beneficial for most individuals, a term insurance with a return of premium plan can offer benefits beyond that. A term plan with a return of premium is quite similar to the usual term plan. However, the one feature that sets it apart from the regular term insurance plans is the survival benefit. Policyholders can avail survival benefits and get back the premiums (excluding GST) paid to the insurers. Some other add-on benefits associated with this plan include disability benefit, accidental death benefit, and protection against critical illness.
                ...Read More

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                Written by

                Kriti Arora
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                Kriti Arora

                Insurance Writer

                Kriti is a content marketing and branding expert with more than 13 years of rich experience across BFSI and Telecom industries. She is currently leading Digital Creative Strategy for Axis Max Life Insurance.

                :

                Reviewed by

                Vaibhav Kumar
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                Vaibhav Kumar

                Insurance Expert

                With over 15 years in life insurance, Vaibhav is a recognized products and digital leader for driving innovation at Axis Max Life. He's played a pivotal role in developing new business lines and implementing successful D2C strategies.

                What is Term Insurance with Return of Premium?

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                Essentially, a term insurance with return of premium is similar to a standard term plan. It works as a life cover and provides a death benefit to the beneficiaries of the policy.

                The key element that sets it apart is the maturity benefit applicable on a term plan with return of premium.

                Policyholders can benefit from a term insurance with return of premium by paying an additional premium.

                You can choose the required sum assured and policy period and pay the premiums, accordingly. When the policy matures, the insurance provider will return the premiums paid to the policyholder.

                Usually, there are two kinds of policy buyers:

                • One who is looking for medium of savings along with life coverage
                • One who is only in need of life cover to provide financial support to their family in their absence.

                Depending on your financial requirements, you can choose a suitable plan for your family.

                What are the differences between Term Insurance Plan and Term Insurance with Return of Premium?

                Term insurance and term insurance with return of premium (TROP) are two types of life insurance policies currently available in India. While term plans are relatively well known, TROP is a relatively lesser known variant that offers some key benefits that are not available in a basic term plan. The below table highlights the key differences between a term plan and a term plan with return of premium.

                Pure Term Insurance PlanTerm Plan with Return of Premium (TROP)
                A pure term insurance plan is the simplest type of life insurance with the sole goal of providing protection to the nominee/beneficiary of the life insured.Term plan with return of premium is a type of term insurance plan that provides protection to the nominee/beneficiary of the life insured, but also features an option to get a refund on the premiums already paid.
                It is the most affordable of all life insurance plans offered in India.TROP usually features a higher premium cost as compared to a pure term insurance plan.
                The only benefit offered in a pure term plan is the death benefit.In a TROP, along with the death benefit, there is the provision under which the insurer returns all the paid premiums provided the policy is surrendered within a pre-determined period of time.
                Pure term plan is suitable for those who want basic life insurance with no extra frills, at affordable premium.A term plan with return of premium typically features a higher premium due to the additional return of premium benefit available with the plan.
                Computation of the sum assured in a pure term plan is as per the life cover and any other payout as per the policy document at policy inception.In TROP policies, life cover payout and related payouts are as per the policy documents, while the return of premium is calculated based on the applicable special exit value calculation that varies from one insurer to another.
                Note: The above list of differences is illustrative and subject to periodic change.

                How Does Term Insurance with Return of Premium Work?

                It is in your best interest to map the objective of an investment carefully before buying a plan.

                Understanding how a term insurance with return of premium works will give you a clearer vision for your financial plans.

                Let’s take the case of Mr. Patel, a 30-year-old man looking to secure coverage for himself. He is a healthy man, without any smoking habits or history of medical problems. He opts for a term plan with return of premium and selects a sum assured of Rs. 50 lakhs.

                The annual premium payable for his plan is Rs. 12,718 for a tenure of 40 years, i.e. till the maturity of the policy. If Mr. Patel passes away within the policy tenure, the person assigned as the nominee will receive the sum assured of Rs. 50 lakhs.

                But, if Mr. Patel survives the policy term, he will be eligible for a maturity benefit under the term plan with return of premium. He will receive Rs. 5,08,720 (12718 x 40) upon maturity of the policy.

                One can also calculate their premium payable using online premium calculator

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                Death Claim Paid Ratio99.65%^

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                Return of Premium Option with Limited Pay

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                Single Pay

                You pay the entire premium amount payable as a lump sum in one go
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                Regular Pay

                You pay the premium amount throughout the term plan tenure either annually, half-yearly, quarterly or monthly
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                Pay Till 60

                You pay the premium till the age of 60 years while the plan coverage extends up to 85 years of age
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                Limited Pay

                You pay the premium for a fixed number of instalments, i.e., 5 Pay, 10 Pay, 12 Pay or 15 Pay

                Who Can Buy Term Insurance with Return of Premium (TROP)?

                When it comes to important financial commitments such as buying term insurance with return of premium (TROP) plan, each person may have different objectives. This is significantly dependent on a number of personal factors such as your age, income source, lifestyle habits and medical conditions. Analyzing your financial profile based on these key parameters can help you find the right policy.

                So, if you plan to purchase a term plan with return of premium, you have to examine the benefits offered against such factors.

                Largely, TROP can be a preferable choice for people who fall under the following categories:

                • Unmarried

                  As an unmarried individual, you may have the financial responsibilities of your parents, especially if they are retired. If you have a term plan with return of premium, the maturity benefit ensures they receive a large sum of money either way.

                  In the unfortunate case of your demise, their expenses will be taken care of with the death benefit. You will have the peace of mind that they will be financially independent even when you are not around. In the case of surviving the policy, you can have the satisfaction of receiving back the premiums paid throughout the TROP tenure.

                • Married with No Children

                  If you are a married person, you may also want to consider a term plan with return of premium. In case your spouse is solely dependent on your income source, TROP may work for you. You can create a financial support system for them to secure their future against any eventualities. The maturity benefit offered at the end of the policy term will be a bonus.

                • Married with Children

                  A parent has a broad set of financial responsibilities to undertake for the well-being of their children. Saving up for their marriage, higher education and other life goals is a crucial aspect of your investment plans. In case you are the only earning member of the family, your spouse’s and children’s well-being is also to be considered.

                  It can be heavy on your pocket to manage the current expenses and put a large sum aside for the future. Therefore, the assurance of a maturity benefit with a term plan with return of premium can be helpful.

                Benefits of Term Plan with Return of Premium

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                Let's take a closer look at the benefits of a term plan with return of premium:

                ROP Benefit

                Many policy buyers are discouraged from buying a term plan because there is no maturity benefit. Introducing Axis Max LifeSmart Secure Plus Plan (A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan | UIN104N118V11). a policy that offers option of a term plan with return of premium available as an alternative. The ROP (term insurance with return of premium benefit) allows policyholders to stay reassured.

                Death Benefit

                When a person buys a standard insurance plan or term plan with return of premium, the primary purpose is life cover. They wish to create a financial shield over their family against unpredictable circumstances.

                The death benefit offered with TROP helps the policyholder's family to manage their expenses during a crisis.

                Tax Benefits

                Purchasing a term plan with return of premium means makes a person eligible for tax benefits. You can avail of the benefits as per the prevailing tax laws. Under Section 80C and 10 (10D), the premium paid towards the term plan and the benefit amount are tax-free.

                You can get a tax deduction of up to Rs. 1.5 lakhs on the premiums paid for a term plan with return of premium.

                As awareness of various benefits of life insurance plans rises among Indians concepts such as return of premium are being understood better as witnessed in the recent Axis Max Life Insurance India Protection Quotient (IPQ 6.0) survey conducted jointly by Kantar. The survey recorded that knowledge quotient of Indians with respect to life insurance products had increased to 61 in IPQ 6.0 as compared to 57 that was recorded in the earlier survey, IPQ 5.0.

                Why Should You Choose A Term Insurance with Return Of Premium Option?

                Given the increasing cost of living and responsibilities in life, each one of us is looking for ways to manage money efficiently. The financial instruments that offer an opportunity to build wealth and get life security can be an excellent choice to achieve that.

                Term Insurance with return of premium option also provides additional benefits such as waiver of premium, accidental death benefit, disability benefit, and protection against critical illnesses. Investing in TROP can bring a sense of overall protection for policyholders.

                A policy buyer may find it difficult to choose between the several insurance products available. Choosing on the basis of one deciding factor, whether it is cost or policy period may not be favourable. Hence, make sure to consider the comprehensive benefits of a term plan with return of premium to be satisfied with the investment.

                Term Plan with Return of Premium Features

                1. Affordability


                Term plan with return of premium may be slightly more expensive than a regular term plan. However, the premiums paid for TROP are returned as maturity benefit and are exempted from taxation.

                2. Premium Payment Options

                As the policyholder, you can choose the suitable sum assured under term plan with return of premium. Furthermore, you can also select the best-suited premium payment option from among these:

                One-Time Payment

                The entire premium for TROP is payable as a lump sum amount in one go, instead of distributing it over extended duration.

                Regular Pay

                Under this premium payment option for TROP, you pay premiums at regular intervals throughout the policy tenure. You can choose to pay them on an annual, half-yearly, quarterly or monthly basis.

                Pay Till 60

                This option under term plan with return of premium allows you to pay off the premiums till the age of 60 years, while the plan extends till 85 years of age.

                Limited Pay

                You can pay the premiums for a fixed number of instalments under the limited pay option for TROP. Please read sales brochure before proceeding for purchase.

                3. Surrender Value

                After purchasing the term plan with return of premium, if you discontinue premium payments or surrender the plan, you will receive a surrender value. The surrender value of TROP is subject to the following conditions, depending on the premium payment option:

                • For TROP with Single Premium variant, the surrender value is applicable after payment of a single premium.
                • For TROP with Limited Pay variant and Regular Pay variant, it is applicable on payment of premiums for two full years.

                The surrender value is the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV)

                4. Rider Options

                There are various types of riders or add-on features offered by the insurers with a term plan with return of premium. The popular ones include:

              • Critical illness and disability rider that provides coverage against critical illnesses like cardiovascular diseases, cancer, kidney failure, paralysis and diabetes
              • Accidental death and dismemberment rider that protects against income loss due to accidental injury and dismemberment.
              • Waiver of Premium rider that when activated led to future premiums being waived off if the life insured loses the ability to earn their income due to an accident or illness.
              • Terminal Illness rider provides a lump sum payout in case the life insured is diagnosed with a terminal illness during the policy term. 
              • Depending upon your need, you should consider choosing one or more of these riders in order to enhance the protection of your TROP policy. However, do keep in mind that availing these riders and add-ons typically requires payment of an additional premium. 

                How to Choose a Suitable Term Insurance Policy with Return of Premium?

                Take the following pointers into consideration when choosing a term insurance with return of premium feature that suits your unique needs:

                Assess Your Needs

                The first and foremost step is assessing your needs. You need to know what is the problem before finding a solution, similarly, to find the best suited TROP plan, you must identify your needs and then match those against available options. Calculate the life cover you require by considering your current income and evaluate that with your current liabilities and expected future liabilities. Then, decide the length of your policy term. Decide whether the policy term should match your retirement age or should it extend till your children complete their higher education and/or get married.

                Another very important factor to consider when assessing your needs is your premium budget. You should be well aware of the fact that a term plan with return of premium feature may cost you a higher premium as compared to a basic term plan. So opt for a TROP policy only if you are certain that the premium amount payable will not negatively impact your budget.

                Compare Features of the Available TROP Plans

                Just like you compare various features before buying a mobile phone, it is imperative that you pay equal or more attention to the different TROP plan options available and their features too. A thorough comparative analysis will help you find the which policy works best for you in terms of life cover offered, policy tenure options, premium payment term/frequency, the structure of premiums to be returned (some offer 100% return while some might offer less than that), riders or add-on benefit available as well as key exclusions of the policy. It is only after this analysis will you be able to find a type of policy suited to your needs.

                Evaluate the Insurer

                The next step in choosing the best term plan with return of premium is evaluating the insurer. It is equally important to pay close attention to the insurance company you’re choosing. You may choose a plan in line with your budget and requirements but it may all go in vain if the insurer chosen doesn’t match the standards. It is important to check key features of the insurer such as claim settlement ratio, solvency ratio, etc. Another important point to consider is the insurance company’s customer services as these will play a major role at the time of making claims.

                Compare Premium Costs

                Premiums payable for a TROP policy are usually higher than a basic term insurance plan. This should be very clear in your mind. But even with this, you must draw a comparative analysis of the premiums offered by different insurance companies. Do take into account the premium payment frequencies offered by the insurer along with the discounts offered on the online purchases etc. It is only after such analysis will you be able to finalize a cost-effective term plan with return of premium.

                Review Policy Terms

                Once you’ve chosen the insurance company and the policy, do not miss out of reviewing the policy terms. Take the benefit if the free-look period and carefully read through the various terms and conditions along with the exclusions mentioned in the policy to reduce the possibility of unpleasant surprises in the future. Knowing such details beforehand can be extremely helpful at the time of making claims. Additionally, it is advised to consult a life advisor if you are new to the insurance and unable to finalize the best term insurance plan with return of premium.

                Why Choose Axis Max Life Term Plan?

                image solvency_ratio_one_bbd7247402

                Solvency Ratio
                172%

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

                image percentage-icon

                Claims Paid Percentage
                99.65%

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

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                Sum Assured
                ₹1,779,409 Cr.

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

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                Assets Managed
                ₹150,836 Cr

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

                Choosing the Adequate Sum Assured for Your Term Insurance

                Choosing the right sum assured depends on various factors. Know more  on how to select the correct sum assured for your term insurance. Below are some of the sum assured options you can avail. Click on the preferred option and check on further details.

                Term Insurance

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                ₹50 Lakhs

                Starting from  ₹16/ day%*

                Check Plan

                Term Insurance

                sum-assured-right-arrow.svg

                ₹75 Lakhs

                Starting from  ₹24/day%*

                Check Plan

                BESTSELLER

                BESTSELLER

                Term Insurance

                sum-assured-right-arrow.svg

                ₹1 Crore

                Starting from  ₹26/day%*

                Check Plan

                Term Insurance

                sum-assured-right-arrow.svg

                ₹1.5 Crore

                Starting from  ₹39/day%*

                Check Plan

                Term Insurance

                sum-assured-right-arrow.svg

                ₹2 Crore

                Starting from  ₹39/day%*

                Check Plan

                Term Insurance

                sum-assured-right-arrow.svg

                ₹5 Crore

                Starting from  ₹92/day%*

                Check Plan

                 Disclaimer:%*Standard daily 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). ARN: C/SA/280125

                Key Takeaways

                • Overview
                • Tax Benefits
                • Cost of Plan
                • ROP Benefit
                • ROP with MWPA
                • ROP Option And Surrender Value
              • Nowadays, most people look for insurance plans that can provide a higher life cover at the lowest possible cost of the premium. Term plans fulfil this criterion. However, given the fact that there are no maturity benefits on the policy, many are discouraged from purchasing a term insurance plan.
              • This made life insurance companies introduce term insurance plans with return of premium (or ROP) additional benefits in them. In other words, a ROP (term insurance with return of premium optional benefit) is a variant of term insurance plans that provides both a death benefit (in case of an eventuality) and a maturity benefit by returning the premium invested
              • FAQs

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                Are the term plans with return of premium option worth it?

                Compared to traditional term insurance plans, a Term with Return of Premium option (or TROP) offers to pay back the total amount of annualised premium {Exclusive of taxes^}, upon maturity of the coverage period. This is the most obvious pro of the TROP feature. The fact that you get your money back if you survive the policy tenure makes the return of premium plans especially appealing to people who want insurance coverage but have a low-risk tolerance.

                Moreover, you can also avail of a host of other policy benefits such as protection against accidental death and dismemberment, critical illnesses, and tax benefits (both deductions and exemptions). Thus, the term plans with return of premium option are definitely worth their price.

                What is the return of premium in term life insurance?

                Pure term insurance plans provide significant financial support to your grieving family, should anything happen to you. But these plans do not offer any maturity benefits, i.e., if you were to outlive the term insurance coverage period, you do not receive anything on policy maturity.

                Term life insurance plans with Return of Premium (or TROP) pays back the total amount of annualised premium {Exclusive of taxes^} paid towards the policy as maturity benefit if you survive the policy tenure. At the same time, if anything were to happen to you, the return of premium plan provides the Sum Assured to your family.

                Which companies offer a term insurance plan with return of premium option?

                Generally, most of the Life insurance companies in India offer term insurance plans with return of premium benefits.

                Which is the best term plan with return of premium?

                While you may compare online which plan suits you the best. Some of the benefits of taking Term Insurance plans from Axis Max Life are:

                1. Significant financial protection against life’s uncertainties
                2. Maturity benefits upon surviving the policy tenure
                3. Protection against critical illnesses, accidental death and dismemberment
                4. Multiple channels for a seamless buying experience
                5. No bulky paperwork while buying or paying premiums for policies online
                6. Dedicated claim settlement officer to make the claim process effortless
                7. Multiple premium payment channels, including net banking, digital wallet, credit cards, and debit cards

                * the coverage amount that you can opt for may vary depending upon several factors such as your age, annual income, coverage tenure, and premium payment term.

                What major benefits are provided by term insurance plans with Return of Premium option?

                Term insurance plans with return of premium option offers policy benefits if anything happens to you within the policy period as well as upon surviving the policy. The major benefits are

                  1. In case of your unfortunate demise, your family would receive a significant financial assistance in the form of the death benefit from the Term insurance plans with Return of Premium Option.
                  1. Upon surviving the policy term, you would receive the total amount of premiums back that was paid towards the term insurance plans with return of premium option. It does not include the premium paid for riders during the policy tenure.
                  1. You can avail tax benefits4 for the premium paid under Section 80C of the Income Tax Act 1961
                  1. The death benefit paid to nominee(s) is tax free and maturity benefit received under the Term insurance plans with return of premium option is tax-exempt under Section 10(10D) of the Income Tax Act 1961

                You can also enhance your financial protection by opting for Add-ons/Riders (upon payment of the additional premium) against accidental death, life-threatening ailments etc.

                Is there any term insurance plan offered by Axis Max Life which provides return of premium option?

                Axis Max Life Insurance offers the below term life insurance plan with return of premium option – Axis Max Life Smart Secure Plus Plan (A Non-Linked Non Participating Individual Pure Risk Premium Life Insurance Plan UIN - 104N118V08)

                What is the catch with the Term insurance plans with return of premium option?

                There is no catch as such with the Term insurance plans with return of premium option. On the contrary, the Term insurance plans with return of premium option offers financial assistance in case of your untimely demise within the policy tenure. Moreover, these plans also offer to pay back the 100% of the Total Premiums that you pay towards the plan in case you outlive the coverage term.

                ‘Total premiums paid plus underwriting extra premiums, if any, for base policy’ refers to the total of all annualised premium paid plus underwriting extra premium, if any, under the policy including premiums for Life Stage Add on Sum Assured (if any)

                Should I buy a Term insurance plans with return of premium option?

                Yes, you must purchase Term insurance plans with return of premium option if you require a significant amount of financial protection for your loved ones but have a low-risk tolerance when it comes to putting your money into term insurance. Unlike pure term insurance plans, Term insurance plans with return of premium option provides both death and maturity benefits, so that you and your loved ones can benefit from the plan.

                Can you get your money back from term insurance on maturity?

                Yes, term insurance plans with return of premium benefit offer to pay back the total amount of annualised premiums paid {Exclusive of taxes^} once you outlive the coverage tenure. In other words, if nothing happens to you throughout the term insurance policy period, you will receive the entire amount (exclusive of taxes) that you have paid for the plan.

                Illustration – Suppose you bought a term insurance plan with a return of premium option for a Sum Assured of Rs 1 crore at a premium of Rs 25,000 per annum (Exclusive of GST)* with a policy term of 30 years. In the case of your demise within 30 years of buying the policy (i.e., the policy period), your family would receive the Sum Assured of Rs 1 crore.

                However, if you survive the policy term of 30 years; you will receive Rs. 750,000 (25000 x 30) {Exclusive of taxes^} as maturity benefit from the plan.

                Figures mention in the above illustration are assumed.

                What does return of premium mean?

                Return of premium benefit offered under term insurance plans implies that the insurance company would pay back the total amount of annualised premiums {Exclusive of taxes^} once you survive the coverage tenure. In other words, if nothing happens to you throughout the policy period, you will receive the entire amount you have paid as premiums (exclusive of taxes and amount paid towards rider) in the form of maturity benefit.

                What is death benefit under return of premium term insurance plan?

                Suppose you purchased a term insurance plan with a return of premium option for a Sum Assured of Rs 1 crore and pay a premium of Rs 20,000 per annum (inclusive GST)* with a policy term of 30 years. In the case of your unfortunate demise within 30 years of buying the policy (i.e., the policy period), your family would receive the Sum Assured of Rs 1 crore.

                This Sum Assured which is paid to the family/nominee(s) in the event of death of the life insured is the death benefit under the return of premium term plan.

                Figures mention in the above illustration are assumed.

                Is the Term insurance plans with return of premium option a good deal?

                Purchasing a Term insurance plans with return of premium option or TROP plan is a good deal, especially when you consider the amount of coverage the plan would provide to your family, should anything happen to you.

                In case of your untimely demise, the Term insurance plans with return of premium optionwill provide the financial protection to your loved ones, like any regular term plan. The insurance amount received as death benefit is tax-free.

                Not only that, in case you survive the policy tenure the total amount of premiums paid {Exclusive of taxes and exclusive of amount paid towards riders} ^ would be returned to you on Policy Maturity. This maturity amount is tax-exempt under Section 10(10D) of the Income Tax Act, 1961.

                Are There Any Riders Available With TROP?

                Yes, policyholders can strengthen the coverage offered by TROP by adding riders of their choice. Different types of riders can be added depending on the personal requirements to get comprehensive coverage.

                What Is The Eligibility Criteria For Term Plan With Return Of Premium?

                Term plan with return of premium, like other insurance plans is a long-term protection tool. The entry age in general for this plan is 18 years.

                How Does Smoking Habit Affect The Term Plan With Return Of Premium?

                The premium rates may vary for a smoker and a non-smoker since the insurer is providing coverage for risk. A person with smoking habits comes under the high-risk category.

                Should I Buy A Regular Term Plan Or TROP?

                It can be favourable to opt for a term plan with return of premium since it offers maturity benefit along with death benefit. Nevertheless, it is up to you to assess your financial requirements and purchase accordingly.

                What Is The Grace Period In Term Plan With Return Of Premium?

                The grace period in insurance is the period after the due date of premium payment when the policyholder can pay it without any penalties. Generally, the grace period for a term plan is 30 days, but it is 15 days if the premiums are being paid monthly.

                ARN NO: PCP/TROP/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

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                  Death benefit on policyholder's demise's during policy term

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                  Axis Max Life Smart Fixed-return Digital Plan

                  Built-in life cover

                  Tax deduction u/s 80C of Income Tax Act, 1961

                  Tax-free## fixed returns up to 7.5%** u/s 10(10D)

                  Facility to avail a loan in case of a financial emergency

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                  Hassle-free worldwide$+ claim processing

                  Flexible premium payment options

                  GST waiver4 of up to 18% for eligible customers

                  Video medical test at your own ease

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                BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

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                  bonus or investment of premiums.
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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.

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

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

                Fax Number: 0124-4159397.

                Email ids: service.helpdesk@axismaxlife.com

                Website: www.axismaxlife.com

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

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

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

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

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

                Disclaimers for Market Linked Plans & Saving plans:

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

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

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

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

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

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

                Privacy Policy

                ^^On completion of policy term

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

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

                > Original policy document

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

                > Death claim application form (Form A)

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

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

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

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

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

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

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

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

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

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

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

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

                ##Tax conditions :

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

                CI Rider disclaimers:

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

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

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

                22 critical illnesses covered in gold and gold plus variant

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

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

                ~1 Conditions for Special exit value:

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

                ~2 Voluntary Top-up Sum assured:

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

                ^^*^^Free look period conditions:

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

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

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

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

                Terms and conditions for availing 5% employee discount:

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

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

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

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

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

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

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

                *~Disclaimers

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                 

                 

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