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@ ₹876/Month@8 for 2 Cr. Life cover
@ ₹876/Month@8 for 2 Cr. Life cover
Life Insurance provides financial protection to safeguard your family in times of unforeseen circumstances. However, to ensure that the policy benefits are provided to the family, all the due premiums need to be paid on time. Axis Max Life Waiver of Premium Plus Rider (A Non-Linked Non-Participating Individual Pure Risk Health Insurance Rider | UIN: 104B029V05) offers waiver of all future premiums....Read More
Trust of 20+ Years in Industry
Written byLakshey Bahl
Insurance Writer
Published 11th September 2025
Reviewed byVaibhav Kumar
Last Modified 3rd October 2025
Insurance Domain Expert
Axis Max Life Waiver of Premium Plus Rider Coverage
Axis Max Life Waiver of Premium Plus Rider ensures that the policy benefits are paid up subject to the following eventualities:
- When Policyholder and life insured are same person a. Dismemberment
- When Policyholder and Life Insured are different a. Dismemberment
b. Upon diagnosis of any of the 11 specified critical illnesses
b. Upon diagnosis of any of the 11 specified critical illnesses
c. Death
Benefits of Axis Max Life Waiver of Premium Plus Rider
Axis Max Life Waiver of Premium Plus Rider provides waiver for all future premiums under a policy and all other attaching riders on earlier happening of either of the following events, provided the base policy and attaching riders are in force:
1. Critical Illness
Axis Max Life Waiver of Premium Plus Rider covers the following 11 Critical Illnesses:
- Cancer of specified severity
- First heart attack – of specified severity
- Open chest CABG (Coronary Artery Bypass Grafting)
- Open heart replacement or repair of heart valves
- Coma of specified severity
- Kidney failure requiring regular dialysis
- Stroke resulting in permanent symptoms
- Major organ / bone marrow transplant
- Permanent paralysis of limbs
- Motor neuron disease with permanent symptoms
- Multiple Sclerosis with persistency symptoms
2. Dismemberment
While the Base Policy and this Rider are in force, all future premiums payable for the base plan and the attached rider will be waived, in case the policyholder is subject to any of the following impairments (due to injury or illness). Such a conditions must persist continuously for 180 days and deemed permanent in the opinion of a medical practitioner appointed by the Company.
- Total and irrecoverable loss of entire sight in both eyes
- Amputation or loss of use, of both hands, at or above the wrists
- Amputation or loss of use, of both feet, at or above the ankles
- Amputation or loss of use, of one hand at or above the wrist and one foot at or above the ankle
3. Death (only when Life Insured and Policyholder are different individuals)
In case of occurrence of any of the events mentioned above, the company will waive all future premiums under the base policy and all attaching riders:
- till the end of the base policy premium payment term or
- until the termination of the base policy due to happening of any insured event / surrender or
- till the end of policy anniversary on which the policyholder attains age 70 years, whichever is earlier.
The cover under this rider will cease after a claim under this rider is accepted and future premium(s) waived. However, the cover under the base plan and other rider(s) will continue.
Note: For more details, please refer to the Rider Prospectus available under the Downloads section.
All about Axis Max Life Waiver of Premium Plus Rider
The following are the criteria and key details of Axis Max Life Waiver of Premium Plus Rider:
| Criteria | Details |
|---|---|
| Premium Payment Term | Same as Rider Policy Term |
| Minimum Entry Age (age as at last birthday) | 18 years |
| Maximum Entry Age (age as at last birthday) | 65 years |
| Minimum Annualised Premium | The Minimum Annual Premium is ₹ 2 per annum for age at entry of 18 years (age as at last birthday), Rider Term of 5 years and Base Plan Premium of ₹1,000. |
| Maximum Annualised Premium |
The maximum rider premium will be calculated basis the maximum base plan premium to which the rider is attached. However, the premium pertaining to health related or critical illness riders shall not exceed 100% of premium under the base plan, and any benefit arising under the captioned rider shall not exceed the sum assured under the base plan. |
| Minimum Sum at Risk | The minimum sum at risk amount is determined basis minimum annual premium of base plan along with attaching riders (if any) of ₹ 1,000. |
| Maximum Sum at Risk | The maximum sum at risk amount is determined basis maximum annual premium of base plan along with attaching riders (if any) of ₹25,00,000. |
| Surrender Benefit | This rider does not offer any surrender benefit. |
| Maturity Benefit | This rider does not offer any maturity benefit. |
How does Axis Max Life Waiver of Premium Plus Rider Work?
Case 1: In case the Life Insured and Policyholder are same.
Mr. Kumar is a 35-year-old salaried professional, who is married, and has a 4-year-old child. He is a responsible individual who always takes care of his family. In order to plan for his family’s financial security, he buys Axis Max Life Smart Secure Plus Plan (₹1 Crore sum assured with 35 years term), on his life, making his wife the nominee under the policy. Further, in order to ensure there is no discontinuity in policy benefit, he also buys Axis Max Life Waiver of Premium Plus Rider at a nominal price.
Here are the following illustrative scenarios that can occur during the course of the policy of Mr. Kumar:
| Scenario | Waiver of Premium Plus Rider Benefit | Base Policy Benefit |
|---|---|---|
| Mr. Kumar meets with an accident and loses both his arms. | After the expiry of the waiting period of 180 days, all future premiums of the base policy, i.e., Axis Max Life Smart Secure Plus Plan and attached rider(s) will be waived till the age of 70 years (last birthday) or the end of policy term, whichever is earlier. | Base Policy (Axis Max Life Smart Secure Plus Plan) continues without any obligation on Mr. Kumar to pay any further premiums. |
| Mr. Kumar is diagnosed with cancer of specified severity, after paying three (3) annual premiums. | All future premiums of the base policy, i.e., Axis Max Life Smart Secure Plus Plan and attached rider(s) will be waived till the age of 70 years (last birthday) or end of policy term, whichever is earlier. | Base Policy (Axis Max Life Smart Secure Plus Plan) continues without any obligation on Mr. Kumar to pay any further premium. |
| Unfortunate death of Mr. Kumar after paying five (5) annual premiums. | No benefit is available under Waiver of Premium Plus rider. | Base Policy (Axis Max Life Smart Secure Plus Plan) Sum Assured of ₹ 1 crore is payable to the nominee and base policy terminates. |
Case 2: In case the Life Insured and Policyholder are different
Mr. Kumar is a 35-year-old salaried professional, married, and has a 4-year-old child. He is a responsible individual who always takes care of his family. In order to plan for his family’s financial security, he buys an Axis Max Life Smart Wealth Advantage Guarantee Plan (₹ 1 lakh premium with 10 years premium payment term), with his wife as Life Insured and himself as Policyholder. Further, in order to ensure there is no discontinuity in the policy benefits, he also buys Axis Max Life Waiver of Premium Plus Rider at a nominal price.
Here are the following illustrative scenarios that can occur during the course of the policy of Mr. Kumar:
| Scenario | Waiver of Premium Plus Rider Benefit | Base Policy Benefit |
|---|---|---|
| Mr. Kumar (policyholder) meets with an accident and loses both his arms. | All future premiums of Axis Max Life Smart Wealth Advantage Guarantee Plan will be waived till the end of premium payment term | Base Policy (Axis Max Life Smart Wealth Advantage Guarantee Plan) continues without any obligation on Mr. Kumar to pay any further premiums. |
| Mr. Kumar (policyholder) is diagnosed with Cancer of specified severity, after paying 3 annual premiums. | All future premiums of Axis Max Life Smart Wealth Advantage Guarantee Plan will be waived till end of premium payment term. | Base Policy (Axis Max Life Smart Wealth Advantage Guarantee Plan) continues without any obligation on Mr. Kumar to pay any further premiums. |
| Unfortunate death of Mr. Kumar (policyholder) after paying 5 annual premiums. | All future premiums of Axis Max Life Smart Wealth Advantage Guarantee Plan will be waived till end of premium payment term. | Base Policy (Axis Max Life Smart Wealth Advantage Guarantee Plan) continues without any obligation on Mrs. Kumar to pay any further premium. |
Disclaimer: The above scenarios are only examples and do not, in any way, create any rights and/or obligations.
Download Rider-related Documents
FAQs about Axis Max Life Waiver of Premium Plus Rider
What is the maximum entry age for Axis Max Life Waiver of Premium Plus Rider?
The maximum entry for Axis Max Life Waiver of Premium Plus Rider is 65 years (age on your last birthday).
How many critical illnesses does the rider cover?
Axis Max Life Waiver of Premium Plus Rider covers 11 specified critical illnesses. For detailed information, please refer to the rider prospectus available under Downloads section.
When does this rider waive all future premiums?
The rider allows waiver of all future premiums in case of happening of an eventuality mentioned below to the policyholder.
- In case Policyholder & Life Insured are same
- In case Policyholder & Life Insured are different
a) Dismemberment
b) Diagnosis of eleven (11) specified critical illnesses
a) Dismemberment
b) Diagnosis of eleven (11) specified critical illnesses
c) Death
What are the Exclusions under this Rider?
A. Following are the exclusions for Critical Illness:
B. Other Exclusions: Lives with any critical illness or dismemberment existing or occurred previously shall not be offered this Rider.
The Policyholder will not be entitled to any rider benefits if the critical illness or dismemberment of the policyholder is directly or indirectly caused, occasioned, accelerated or aggravated by any of the following:
C. Suicide Exclusion (applicable only in case of death of the policyholder when policy holder and life insured are different) : Notwithstanding anything stated herein, if the Policyholder whether minor/major and whether sane or insane, dies by suicide within 12 months of the effective date of risk commencement or the date of revival of rider, the rider shall terminate immediately. In such cases, the Company shall pay 100% of Total Premiums Paid plus underwriting extra premiums paid plus loadings of modal premiums paid
For detailed information, please refer to the rider prospectus available under Downloads section.
- Exclusion for Critical Illness – Waiting Period: No benefit under the rider is payable if any critical illnesses is diagnosed within ninety (90) days from the effective date of rider or the revival date , whichever is later.
- Exclusion for Critical Illness – Survival Period: No benefits are payable under the rider if the policyholder dies within a period of thirty (30) days from the date of diagnosis of critical illness. Subject to the provisions of the rider, the policyholder should survive for a period of 30 days from the diagnosis of critical illness to receive the benefits under the rider.
B. Other Exclusions: Lives with any critical illness or dismemberment existing or occurred previously shall not be offered this Rider.
The Policyholder will not be entitled to any rider benefits if the critical illness or dismemberment of the policyholder is directly or indirectly caused, occasioned, accelerated or aggravated by any of the following:
- Suicide or attempted suicide or self-inflicted injury, whether the life assured is medically sane or insane;
- Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent;
- Any congenital condition;
- Alcohol or Solvent abuse or taking of Drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered medical practitioner;
- War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes;
- Participation by the insured person in any flying activity other than as a bona fide passenger (whether paying or not), Pilots and Cabin Crew in a licensed scheduled aircraft;
- Engaging in or taking part in professional sport(s) or any hazardous pursuits, including but not limited to, diving or riding or any kind of race; underwater activities involving the use of breathing apparatus or not; martial arts; hunting; mountaineering; parachuting; bungee-jumping;
- Nuclear Contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature;
C. Suicide Exclusion (applicable only in case of death of the policyholder when policy holder and life insured are different) : Notwithstanding anything stated herein, if the Policyholder whether minor/major and whether sane or insane, dies by suicide within 12 months of the effective date of risk commencement or the date of revival of rider, the rider shall terminate immediately. In such cases, the Company shall pay 100% of Total Premiums Paid plus underwriting extra premiums paid plus loadings of modal premiums paid
For detailed information, please refer to the rider prospectus available under Downloads section.
ARN: PDP/WOPP/220925
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