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Before You Buy Any Insurance Plan, Answer These Questions
Q. What is an ideal time to buy Term Insurance?
A. After Marriage
B.Before Marriage
C.In your early 20s
D. After 40

Who should invest in a ULIP Plan?

A ULIP plan is perfect for:

🎯

Medium to long-term investors

These plans are a good fit if you are saving money for your retirement or child’s education, etc.

⚖

Diverse risk appetites

Depending on your risk appetite, you may choose funds such as equities, debt, or other asset classes.

👪

All life stages

Whether you are nurturing a family or planning to retire, ULIPs can help you achieve goals at any stage in your lifetime.

💼

Young professionals

One benefit of starting early is that the premiums are affordable, and your investment will have more time to grow.

🛡

Insurance + investment seekers

Ideal if you want dual benefits of investment and insurance in a single plan.

💼

Working Professionals

Working professionals can create a retirement fund by availing long-term capital appreciation while adjusting their investment based on market conditions.

What is ULIP (Unit Linked Insurance Plan)?

A Unit-Linked Insurance Plan (ULIP) is a financial product that combines the benefits of life insurance cover and investment in one plan. When a policyholder buys a ULIP, a portion of the premium paid goes towards securing the life insurance plan and the remainder is invested.

2-in-1Insurance + Investment
5 YearsLock-in Period
80CTax Benefit*
FreeFund Switches^

ULIPs offer a high degree of flexibility, allowing you to invest across funds based on your risk appetite. Because returns are market-linked, ULIPs are best suited to long-term goals — wealth creation or retirement.

Good to know: As per current tax rules, ULIP returns are tax-free in the hands of the investor as specified u/s 10(10D), and premiums qualify for deduction u/s 80C under the old tax regime.

How does a ULIP Plans Work?

Under a ULIP, the investment risk in the portfolio is borne by you as the policyholder. Here is what happens to every premium you pay:

Premium is split

A portion goes to your life insurance cover; the rest is invested in the equity and debt fund options you choose.

Units are allotted

The invested corpus is divided into ‘units’ with a specific face value, allocated in proportion to your investment.

NAV tracks performance

Each unit's value is its Net Asset Value (NAV), reflecting increases or decreases in the underlying assets.

Withdrawals redeem units

Partial withdrawals after the lock-in sell the corresponding number of units at prevailing NAV.

Key Features of ULIPs

1

Investment and Insurance Benefits Under a Single Plan

Maximal wealth appreciation through market-linked instruments while your life cover protects your family.

2

Switch between different Fund Options

Move between equity and debt funds at any time during the policy term, with a fixed number of free switches each year.

3

Premium Redirection

Redirect future premiums between available fund options at any time to match your evolving goals.

4

Partial Withdrawals

After the 5-year lock-in, make a fixed number of partial withdrawals from your fund value without additional charges.

Benefits of ULIP Plan

₹

Maturity Benefit

Receive the fund value at maturity, built through disciplined long-term market-linked investing.

❤

Death Benefit

Your nominee receives the higher of sum assured or fund value, keeping your family's goals secure.

★

Loyalty Additions

Stay invested longer and earn extra units added to your fund value as a reward for continued premiums.

🎯

Future Goal Planning

Align fund choices with life goals — education, home, retirement — on one flexible platform.

Why Invest in ULIPs?

Buying a ULIP is a viable strategy to grow your savings through market-linked returns while staying protected. The global ULIP market was valued at $1.1 trillion (Allied Market Research, Aug'25) — and for good reason:

✓

Flexibility

Manage your money — change fund allotments to secure or grow your corpus as markets move.

✓

Transparency

Track NAVs and fund performance openly; you always know where your money is invested.

✓

Family security

Comprehensive maturity and death benefits keep your family's future protected.

✓

Long-term returns

Healthy market-linked returns in the long run, plus significant tax savings as per prevailing laws.

Who should invest in a ULIP Plan?

A ULIP plan is perfect for:

🎯

Medium to long-term investors

A good fit if you are saving for retirement, a child's education, or another distant milestone.

⚖

Diverse risk appetites

Choose equities, debt, or balanced funds depending on how much risk you're comfortable taking.

👪

All life stages

Whether you're nurturing a family or planning to retire, ULIPs adapt to your stage of life.

💼

Young professionals

Start early: premiums are affordable and your investment gets the longest runway to compound.

🛡

Insurance + investment seekers

Ideal if you want long-term financial goals and life cover handled in a single product.

How to Choose the Best ULIP Plans in India?

Keep these four things in mind while choosing the best unit linked insurance plan in India:

1

Select ULIP Fund Options as Per Your Goals

Equities offer high growth potential for the long term; debt funds offer stability. Match the mix to each goal.

2

Choose an Adequate Life Insurance Cover

Size your cover to long-term goals such as your children's higher education or your retirement.

3

Go for an Extended Investment Tenure

Staying invested 10–15 years helps grow wealth and beat volatility (Kotak Institutional Equities, 2024).

4

Look for Maximum Tax Saving Benefits

Compare plans on 80C deductions and 10(10D) maturity benefits under prevailing tax laws.

What is the Role of the ULIP Plan in Wealth Creation?

ULIPs channel your premiums into professionally managed, market-linked funds while compounding works over the policy term. Loyalty additions, fund switches, and top-ups let you steer the corpus toward your goals as markets and life circumstances change.

Plan your Investment Horizon

Map each financial goal to a time horizon before allocating funds: shorter horizons favour debt-oriented funds; longer horizons can carry more equity exposure. Review the mapping annually so your allocation always matches the years remaining to each goal.

Rule of thumb: the longer your horizon, the more volatility you can absorb — and the more compounding can do for you.

Riders Available with ULIP Plans

Strengthen your base cover with optional riders available on Axis Max Life plans:

+

Axis Max Life Critical Illness and Disability Secure Rider

Pays a lump sum on diagnosis of listed critical illnesses or disability, cushioning income shocks during treatment.

+

Axis Max Life Smart Ultra Protect Rider

Enhances protection with additional cover options for accidental death and disability at a nominal extra premium.

How to Buy ULIP Plans Online?

Buying a ULIP from Axis Max Life Insurance takes just a few minutes:

Step 1

Visit the website

Go to the official Axis Max Life Insurance website.

Step 2

Enter your details

Select Investment Plan and enter your name, date of birth, gender, etc.

Step 3

View plans

Click ‘View Plans’ and explore the products listed.

Step 4

Check eligibility

Enter personal details, check your premium estimate and click ‘Proceed’.

Step 5

Choose payment mode

Select Net Banking, Credit Card, UPI, or another payment option.

Step 6

Make the payment

Complete the payment and enjoy the perks of your ULIP.

Eligibility Requirements for Buying a ULIP Plan

Like other life insurance plans, you must meet a few prerequisites before buying a ULIP:

📅

1. Age Limit

You must fall within the plan's minimum and maximum entry age; limits vary by product.

🇮🇳

2. Citizenship

Resident status requirements apply; NRIs may be eligible subject to plan terms.

📄

3. Important Documents

Keep identity, address, and income proofs handy for a smooth KYC process.

🩺

4. Medical Checkup

A medical examination may be required depending on age and the cover you choose.

ULIP vs. Other Investment option

How ULIPs compare against other popular instruments on the parameters that matter:

OptionLife CoverMarket-Linked ReturnsTax Benefit*Lock-in
ULIP✓ Included✓ Equity & debt funds80C + 10(10D)5 years
Mutual Funds✗ None✓ Market-linkedELSS onlyNone / 3 yrs (ELSS)
Traditional Life Insurance✓ Included✗ Fixed/bonus based80CPolicy term
PPF✗ None✗ Fixed, govt-set80C (EEE)15 years
NPS✗ None✓ Market-linked80C + 80CCD(1B)Till age 60
Fixed Deposits✗ None✗ Fixed rateTax-saver FD onlyVaries / 5 yrs

See how much wealth your ULIP can build. Get your personalised premium estimate in under 2 minutes.

Check Premium

Investment Plans by Axis Max Life

🌱

Axis Max Life Forever Young Pension Plan

Freedom to choose your retirement age · Partner Care Rider for spouse security · equity-linked returns with downside protection · guaranteed loyalty additions from the 10th policy year · "Save more tomorrow" top-ups · tax benefits on premiums.

📈

Axis Max Life Flexi Wealth Plus

Flexible premium and policy terms with wealth boosters, wide fund choice, and life cover — built to flex with your goals.

💳

Axis Max Life Online Savings Plan

Inbuilt life cover with zero policy-admin and premium-allocation charges — more of your premium gets invested.

🎓

Axis Max Life Shiksha Plus Super Plan

Secure your child's education with equity participation, multiple fund options, and premium funding on death.

Best ULIP Plans with High Returns by Axis Max Life Insurance

ULIP Plan NameKey Features & Benefits
Axis Max Life Fast Track Super PlanAchieve long-term goals while securing your future; multiple fund strategies.
Axis Max Life Platinum Wealth PlanSecure your family's future with comprehensive maturity and death benefits.
Axis Max Life Online Savings Plan — Variant 1Inbuilt life cover with flexibility to increase cover; zero allocation charges.
Axis Max Life Online Savings Plan — Variant 2Triple protection: lump sum payout, monthly income, and premium waiver.
Axis Max Life Shiksha Plus Super PlanEquity-market participation with multiple fund options for a child's future.

Types of ULIPs

🌴

1. ULIPs for Retirement

Build a retirement corpus during your earning years; annuity-ready payouts when you stop working.

💰

2. ULIPs for Wealth Creation

Equity-oriented plans focused on maximising long-term wealth appreciation.

👶

3. ULIPs for Children

Goal-protected plans that fund your child's milestones even in your absence.

Axis Max Life ULIP Fund Performance

Snapshot of flagship funds against their benchmarks (5-year returns):

Equity · Very High Risk

Axis Max Life High Growth Fund

19.69%Fund 5-Yr
19.09%Benchmark 5-Yr

Open-ended multi-cap equity fund focusing on midcaps with long-term high-growth potential.

Debt · Low Risk

Axis Max Life UL Life Secure Plus Fund

5.33%Fund 5-Yr
5.69%Benchmark 5-Yr

Open-ended debt fund with preference for government securities, suited to systematic transfer plans.

See the full fund list with 1/3/5-year returns in the fund cards carousel on the Investment Plans page. Past performance is not indicative of future returns.

Types of ULIP Funds

Low Risk

1. Debt Fund

Invests in government securities and corporate bonds — stability first, steady returns.

High Risk

2. Equity Funds

Invests in stocks for high growth potential over long horizons; higher volatility.

Moderate Risk

3. Balanced Funds

Blends equity and debt to balance growth with downside cushioning.

How to Maximise ULIP Returns?

✓

Start Early

The longer your money stays invested, the more compounding works in your favour.

✓

Stick to Your Investments

Stay invested beyond the lock-in; ULIPs reward long-term discipline with loyalty additions.

✓

Spread Out Your Fund Allocation

Diversify across equity and debt funds in line with your risk appetite.

✓

Monitor and Rebalance Periodically

Use free fund switches to rebalance as markets and life goals change.

✓

Use Tax Benefits Wisely

Claim deductions u/s 80C and tax-free maturity u/s 10(10D), as per prevailing tax laws.

ULIP Investment Strategies for Long-Term Wealth Creation

An effective ULIP strategy aligns fund selection with goals and horizon: begin equity-heavy while goals are distant, glide toward debt as they approach, use top-ups in market dips, and let loyalty additions accumulate by staying the full term.

What is a ULIP Calculator?

A ULIP calculator is a tool that helps you determine the maturity amount under a unit linked insurance plan based on your monthly investment, tenure, and expected growth rate.

Calculate Returns with ULIP Calculator

You get: ₹20k/month invested in 2005 would have been

₹4.31 Cr now
ULIP CalculatorSIP CalculatorFD CalculatorRD CalculatorIncome Tax CalculatorTerm Insurance CalculatorInvestment Calculator

Calculating ULIP Plan Returns Using the Power of Compounding

Compounding grows your investments with time. An illustration for a Wealth Plan at ₹10,000/month over a 10-year investment tenure, held for 20 years:

Type of ULIPMonthly ContributionInvestment TenureCorpus after 20 yrs @4% p.a.Corpus after 20 yrs @8% p.a.
Wealth Plan₹10,00010 yearsIllustrative corpus at 4%Illustrative corpus at 8%

Assumed rates of 4% and 8% p.a. are illustrative only, as per IRDAI-permitted illustrations; actual returns depend on fund performance.

Tax Benefits on ULIP

80C

Premium deduction up to ₹1.5 lakh/year

Premiums paid qualify for deduction under Section 80C (old tax regime).

10D

Tax-free maturity proceeds

Maturity benefits are exempt u/s 10(10D), subject to prescribed premium conditions.

!

₹2.5 lakh premium cap

If annual ULIP premiums exceed ₹2.5 lakh, returns on the excess become taxable as per current rules.

How to Claim Tax Benefit on ULIPs?

Claim the exemption (up to ₹1.5 lakh under 80C) when filing your return by declaring the ULIP premium under eligible deductions, retaining premium receipts and the policy statement as proof. Maturity proceeds are reported under exempt income u/s 10(10D) where conditions are met.

What are the Types of Charges in ULIP?

Know the charges before you invest — many Axis Max Life online plans waive several of these:

1. Premium Allocation Charge

Deducted upfront from premium before units are allocated.

2. Fund Management Charge

Annual charge for managing the fund, adjusted in NAV.

3. Policy Administration Charge

Monthly charge for policy servicing and administration.

4. Mortality Charges

Cost of the life cover, based on age and sum at risk.

5. Surrender / Discontinuance Charge

Applies if the policy is discontinued during the lock-in.

6. Switch Charge

May apply after you exhaust your free fund switches.

7. Premium Redirection Charge

May apply on redirecting future premiums beyond free limits.

8. Partial Withdrawal Charge

May apply beyond the free partial-withdrawal limit post lock-in.

How to Manage ULIP Funds?

Automatic Switching

Not comfortable managing investments? Opt for systematic, rule-based switching managed for you.

Self-Switching

Change premium allocation yourself based on your investment view and goals.

Investment Top-Ups

Invest surplus money over and above premiums to accelerate wealth appreciation.

Track Fund Performance and NAV Periodically

Monitoring NAV shows your fund's performance relative to benchmarks.

Rebalance Your Portfolio Regularly

Use economic indicators and market trends to rebalance via free switches.

Tips to Manage ULIP Funds

✓

Set Your Financial Goals

Know what you're investing for from the very beginning.

✓

Assess Your Risk Appetite

Choose equity, debt, or balanced funds based on the risk you can carry.

✓

Review the Charges

Understand every charge so you know exactly what reaches the market.

✓

Analyse Fund Performance

Past results don't guarantee success, but they reflect fund quality.

✓

Look for Flexibility & Know the Lock-in

Pick ULIPs that flex with life changes, and plan around the 5-year lock-in.

Common Mistakes to Avoid with ULIP Plans

✗

Pursuing Short-Term Gains

ULIPs are designed for long-term wealth creation, not quick profits.

✗

Ignoring Fund Performance

Check your fund's progress regularly and switch when consistently underperforming.

✗

Ignoring Policy Fees

Mortality, admin, and fund-management charges affect net returns — know them.

✗

Withdrawing Too Soon

Early withdrawals break the force of compounding and limit potential gains.

✗

Not Aligning to Goals

Always invest with a clear goal so fund choices and tenure fit the purpose.

Advantages and Disadvantages of ULIP

Advantages of ULIP

  • Combines investment and insurance in one plan
  • Tax benefits under Section 80C (old regime)
  • Choice of equity, debt, or balanced funds
  • Switch between funds as market conditions change
  • Long-term wealth creation with financial protection
  • Life cover protection alongside investment growth

Disadvantages of ULIP

  • Minimum 5-year lock-in period
  • Returns are market-linked, not guaranteed
  • Charges such as fund management and allocation apply
  • Needs monitoring and understanding to get the most out
  • Not ideal for short-term liquidity needs
  • Tax benefits carry conditions like the premium cap

Which Investor Class is the Most Suited for Investments in ULIP Plans?

ULIPs suit disciplined, goal-based investors with a medium-to-long horizon who want market participation without giving up life cover — from young professionals starting early to families planning education and retirement milestones.

What Are the Myths About Investing in ULIPs?

Popularity brings misconceptions. Here's the myth vs. the fact:

MythULIP carries more risk
FactYou control risk by choosing equity, debt, or balanced funds to match your appetite.
MythMarket returns affect life cover
FactYour life cover is unaffected by fund performance; the sum assured stays secure.
MythULIPs don't offer health and accident cover
FactRiders add critical illness, disability, and accident protection to your plan.
MythULIPs are not for long-term wealth creation
FactULIPs are built for the long term — compounding plus loyalty additions reward staying invested.
MythSwitching funds is not easy
FactFund switches take a few clicks, with a fixed number free every policy year.
MythULIPs are only for high-income people
FactPlans start at affordable premiums; starting early matters more than starting big.
MythULIPs are not transparent
FactNAVs, charges, and portfolios are published regularly for every fund.

Understanding the Lock-in Period and Liquidity in ULIPs

The ULIP lock-in period is a mandatory feature that promotes disciplined, goal-oriented investing. After 5 years, partial withdrawals unlock — and staying invested longer keeps compounding and loyalty additions working.

Are ULIP Plans Safe for Long-Term Investment?

ULIPs suit those seeking long-term options: market conditions may affect short-term returns, but a long investment term supports compounding through cycles. For retirement, children's education or marriage, and wealth building, risk-adjusted fund choices keep the plan aligned to your comfort.

Terms Related to ULIP Plan

1. Fund Value

Total current value of the units you hold across funds.

2. Sum Assured

The guaranteed life-cover amount paid to your nominee.

3. Fund Switch

Moving your money between equity, debt, and balanced funds.

4. Surrender Value

Amount payable if you exit the policy before maturity.

5. ULIP Charges

Fees like allocation, fund management, and mortality charges.

6. Net Asset Value (NAV)

Per-unit value of the fund, updated with market movement.

7. Single-Premium Contract

A ULIP bought with one lump-sum premium payment.

8. ULIP Riders

Optional add-on covers like critical illness or accident protection.

How to Make a Claim on Your ULIP Plans?

Raising a claim against the life coverage under your ULIP is simple:

Step 1

Register Your Request for a Claim

Notify Axis Max Life online, by phone, or at a branch to initiate the claim.

Step 2

Submit the Necessary Documents

Provide the policy document, claimant's ID, and other required proofs.

Step 3

Claim Assessment and Settlement

The claim is assessed and, once approved, settled to the nominee's account.

10 Common Mistakes That Can Decrease Your Credit Score and How to Avoid Them

Your credit score indicates your overall financial health. The Reserve Bank of India (RBI) has made it mandatory for every bank to check a loan applicant’s credit score before sanctioning loans. Notably,
...Read More

Test

The Cost of Delaying Retirement Savings

Understanding the Power of Starting Early
Many of us tend to delay our retirement planning. This is often due to the belief that financial goals that are to be achieved in the near term should take precedence. After all, retirement is decades in the future and we can wait a while before we start saving for retirement. However, this delay can cost you dearly.

Tale of Two Friends: Ram vs Shyam

RAM
Starts at Age 25
Monthly Investment ₹10,000
Investment Period 35 Years
Retirement Age 60 Years
Total Investment ₹42 Lakh
Annual Return 10% p.a.
Retirement Corpus at 60
₹3.43 Cr
SHYAM
Starts at Age 35
Monthly Investment ₹20,000
Investment Period 25 Years
Retirement Age 60 Years
Total Investment ₹60 Lakh
Annual Return 10% p.a.
Retirement Corpus at 60
₹2.48 Cr
⚡

The Shocking Impact of a 10-Year Delay

Even though Shyam invested ₹18 lakh MORE than Ram, his retirement corpus is significantly smaller!

Shyam Invested More
₹18L
But Has Less By
₹95L
All Due To
10 Years

The Power of Compounding in Action

Due to Ram's longer investment period, the power of compounding worked in his favor. He ended up with a retirement corpus that is almost ₹1 crore larger than Shyam's, despite investing significantly less!

People Are Realizing the Importance of Starting Early

50%
of urban respondents in the Axis Max Life IRIS 5.0 survey believe that retirement savings should start from the first paycheck itself

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10 Common Mistakes that Adversely Impact Credit Scores

Here are the common mistakes which you need to be mindful of. Make sure to avoid them:

Image for types Of Investments 0

1. Missing Credit Card or Loan Repayments

Missed EMI and credit card payments can significantly lower your credit score because delayed/missed payments can hurt your overall credit report. Every credit bureau and financial institution checks a person's payment history before generating a credit report.

If missed/delayed payments start piling up, then it will severely lower your credit score. So, pay your EMIs or credit card bills on time.

2. Having Too Many Credit Cards

It isn’t a good idea to keep multiple credit cards simultaneously open. Please remember that even if you don't miss payments on these cards, using too many credit cards reflects poor financial management skills.

Moreover, lenders might feel that you’ll use up the credit of all the cards even if you don’t use all of the available credit. It’s one of the common mistakes that impact credit scores. So, it’s best to avoid it.

3. Closing a Particular Credit Card

Did you know that the timeframe during which you hold a credit card is a major contributor to building a good credit score? So, even if you don’t use a credit card, don’t make the mistake of closing it unless and until it's required.

Otherwise, it will hurt your overall credit report and decrease your credit score.

4. Availing too Many Unsecured Loans

Unsecured loans are the ones which are not backed by any collateral. Examples include personal loans, credit cards, education loans, and more.

When someone has multiple unsecured loans, it indicates he/she might be financially overburdened with debt. Furthermore, it denotes such persons as risky candidates. Lastly, always remember that if you have numerous active unsecured loans, it’ll have a major negative impact on your credit score.

5. Submitting Multiple Credit Applications at Once

Submitting multiple loan or credit applications to different lenders is one of the 10 common mistakes that can decrease your credit score. It indicates credit-hungry behaviour, which doesn't show you in a flattering light.

Apart from lowering your credit score, there’s another side effect. It cuts down on your negotiating options with the lender. As a result, you might receive credit, but on unfavourable terms and conditions.

6. Not Paying Bills on Time

Not paying your utility bills (electricity, gas, phone and water) in time is another mistake that adversely impacts your credit score. Credit rating agencies consider your payment history while preparing a credit report and assigning a credit score. Even if you miss one payment by over a month, your credit score might decrease.

Late payments might remain recorded in the credit report for many years. You will face questions regarding late bill payments if you apply for loans. You can set payment reminders or set up the auto-pay option to avoid late payments.

7. Paying the Minimum Due Amount

If you pay the minimum amount due on your credit card bills, then it might negatively affect your credit report. While your debt may seem more affordable, your interests can start piling up and strain your purse. When the balance of the credit card bill grows, it can significantly increase your credit utilisation ratio or the percentage of your available credit you’re using at a given time.

You should try your best not to let the credit utilisation rate rise above 30%. Otherwise, your credit score can come down greatly. So, what can you consider? Try to pay off your credit card dues in time. Use other payment methods until you’ve cleared your credit card dues.

8. Co-signing a Loan

Co-signing a loan can also contribute to lowering your credit score. Imagine a situation where you have co-signed a loan for someone you know, and the person fails to repay. It will get recorded in your credit report as now you’ll be liable to pay the remaining due and this can bring down your credit score as well.

9. Not Paying Taxes on Time

Only a few people know the impact of non-payment of taxes on credit scores. When you don’t pay taxes for a long time, the government may place a tax lien on your property, which can severely bring down your credit score.

10. Not Assessing Your Credit Report

Always monitor your credit report closely for any inconsistency. If you come across any inaccurate data or wrong information, then bring it to the attention of the concerned authorities immediately.

Moreover, if you track your credit report regularly, then you’ll also come to know when your credit score is on the fall and take steps to rectify the situation.

Building a good credit record can be time-consuming. So, develop good financial habits early on and consciously avoid making the 10 common mistakes that can decrease your credit score. It will be easy for you to build creditworthiness.

Watch How to File a Claim Online

Watch this short video to understand the claim process.
Axis Max Life - Submit Claims

New Component

A term insurance plan provides a large life cover at an affordable premium. If the policyholder passes away during the policy term, the nominee receives the full sum assured as a death benefit.

Term insurance

Get ₹1 Crore cover from ₹490/month

Compare plans in 2 minutes. No medical test required up to age 35.

99.5% claim settlement ratio · IRDAI regulated

The sum assured in a term plan is typically recommended to be 10–15 times your annual income to ensure your family can maintain their standard of living and meet long-term financial obligations.

Not sure how much cover you need?

Use our free cover calculator

Enter your income and age — get a personalised cover recommendation in 30 seconds.

No login required · No spam

Term insurance premiums are determined by the policyholder's age, health, lifestyle habits, sum assured, and policy term. Buying at a younger age locks in lower premiums for the entire duration.

Sources:

www.experian.com/blogs/ask-experian/common-credit-mistakes-to-avoid

cred.club/check-your-credit-score/articles/mistakes-that-can-lower-your-credit-score

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Why Choose Axis Max Life Insurance?

image percentage-icon

99.70% Death Claims Paid Ratio

(Source: Individual Death Claims Paid Ratio as per Audited Financials for FY 2024-2025)
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405 Branches

(Source: As reported to IRDAI, FY 2024-25)
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₹2,191,857 Cr. Sum Assured

In force (individual) (Source: Axis Max Life Public Disclosure, FY 2024-25)
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₹175,072 Cr. Assets Under Management

(Source: Axis Max Life Public Disclosure, FY 2024-25)

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Documents you'll need

You will need a few documents to get started. If something is missing right now, it's ok. We'll guide you as you go.

Indian ClaimantIndian
4 Mandatory21 Non-Mandatory
1Original Policy documents (Mandatory)
2KYC documents-Nominee/ Appointee (Mandatory)
3Bank Proof- Nominee/ Appointee (Mandatory)
4Death certificate (Registered) (Mandatory)
5Bank statement- Joint account
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Watch this short video to understand the claim process.
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How does a ULIP Plans Work?

Under a unit linked insurance plan (ULIP), the investment risk in the portfolio is borne by you (as a policyholder.) The primary purpose of buying the best ULIP is to secure your loved ones financially against any unforeseen events.

  • When you invest in the best ULIP, a portion of your premium is allocated for the life insurance cover as insurance.
  • The rest is invested in various equity and debt fund options, as part of the investment.
  • Your money is invested in the market-linked funds that you choose.
  • The total corpus invested is divided into ‘units’ with a specific face value, and you are allocated "Units" in proportion to the amount you invest.
  • At any point in time, the value of each unit is referred to as the Net Asset Value (or NAV).
  • The NAV reflects any increase or decrease in the value of the underlying assets.
  • If you make partial withdrawals from the accumulated corpus, the corresponding number of Units is sold.
  • Similarly, the ULIP policy charges are deducted in the form of units.
  • At the time of maturity, you have the option to receive the total value of the fund, either as a lump sum, or monthly instalments paid over a specific period, as per the terms and conditions of the ULIP plan.
  • In case of your demise within the policy tenure, the death benefit payable to your family will be the higher of the:
    • Sum Assured or Total Fund Value (as on the day of death)
    • Sum Assured plus Total Fund Value

Benefits of ULIP Plan

  • Maturity Benefit


    On maturity of the ULIP policy, you become eligible to avail of an amount equal to the accumulated fund value as a maturity/ survival benefit.

  • Death Benefit


    In case of untimely demise at any time within the ULIP policy tenure, your family will receive the ULIP insurance benefit as per the policy terms and conditions.

  • Loyalty Additions


    The best ULIPs help you boost your accumulated wealth through loyalty additions, at the end of each policy year. A specific percentage of the fund value under the ULIP is added to your policy earnings through the creation of additional units. Loyalty Additions are offered under the following plans by Axis Max Life Insurance.

  • Future Goal Planning


    ULIPs can help achieve long-term financial goals, such as a child's education, marriage, retirement planning, wealth creation, or buying a house. Since the returns from ULIPs are market-linked, they yield best when held for a long-term duration.

    Such plans also come with a mandatory 5-year lock-in period, which encourages goal-oriented, disciplined investing. In fact, ULIPs can be an ideal investment for future goal achievement, given the features like flexibility, tax benefits, and professional fund managers’ involvement.
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BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that:
  • • IRDAI or its officials do not involve in activities like selling insurance policies,
      announcing bonus, or investments of premiums.
  • • Public receiving such phone calls are requested to lodge a police complaint.

IRDAI - Registration No. 104. ARN/Web/13122024 Category: Life. Validity: Valid.
Corporate Identity Number (CIN): U74899HR2000PLC143012.

Corporate Office: Axis Max Life Insurance Ltd. 11th Floor, DLF Square, Building, Jacaranda Marg, DLF Phase 2, Sector 25, Gurugram, Shahpur, Haryana 122002

Registered Office: Axis Max Life Insurance Limited. Plot no. 90-C, Sector-18, Urban Estate, Gurugram, Haryana – 122 015, India. Tel No.: (0124) 421909

For any query regarding this website, please reach out to:

Name: Lakshey BahlDesignation: Website Manager
Email ID:
service.helpdesk@axismaxlife.com

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