{"id":27496,"date":"2025-02-05T15:28:58","date_gmt":"2025-02-05T09:58:58","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/2025\/02\/05\/axis-max-life-unveils-smart-term-plan-plus-offering-upto-2x-return-of-premium\/"},"modified":"2025-02-05T15:28:58","modified_gmt":"2025-02-05T09:58:58","slug":"axis-max-life-unveils-smart-term-plan-plus-offering-upto-2x-return-of-premium","status":"publish","type":"post","link":"https:\/\/new.matribhumisamachar.com\/en\/2025\/02\/05\/axis-max-life-unveils-smart-term-plan-plus-offering-upto-2x-return-of-premium\/","title":{"rendered":"Axis Max Life Unveils Smart Term Plan Plus, Offering upto 2x Return of Premium"},"content":{"rendered":"

Women-Centric Features<\/strong>: Tailored benefits such as a Lifeline Plus, Special Premium discount and Maternity cover<\/p>\n

Double Your Premium Back<\/strong>: Get 2x of your total premiums paid as Special Exit Value<\/p>\n

Axis Max Life Insurance (“Axis Max Life<\/strong>“\/ “Company<\/strong>“) has announced the launch of the Axis Max Life Smart Term Plan Plus (UIN: 104N127V01), a non-linked, non-participating, individual pure-risk life insurance plan designed to address diverse needs and life stages, with coverage tailored for customers’ needs. It offers a benefit to receive up to 200% of the total premium, paid-back as a special exit value with no additional premium to be paid to avail this benefit.<\/p>\n

The plan also offers women-centric features tailored to the unique requirements of this customer segment. It includes a maternity cover benefit that safeguards against pregnancy complications and also covers the new-born for congenital anomalies for upto 3 years of birth. It offers Lifeline Plus benefit that allows the female Life Insured to increase the coverage in case of her spouses death for upto 50% of Base Sum Assured, or Rs. 50 lakhs (whichever is lower). Most significantly, the plan offers a 15% discount on premiums for female policyholders compared to male policyholders. Moreover, salaried females are eligible for an additional 15% discount on the first year premium which can be up to total discount of 27.75% on first year premium.<\/p>\n

Prashant Tripathy, Managing Director and CEO, Axis Max Life<\/strong>, comments, “While awareness of term insurance is increasing, its penetration in India remains significantly low, leaving a substantial protection gap for many families. The Axis Max Life Smart Term Plan Plus is designed to address this critical need by offering affordable and accessible protection to a wider segment of the population. With its flexible options and competitive pricing, the plan is an attractive and budget-friendly choice, particularly for young customers. I am confident that by making term insurance more accessible and affordable with this plan, we can play a crucial role in bridging the protection gap and building a more financially secure India<\/em>.”<\/p>\n

\nKey Features of the Axis Max Life Smart Term Plan Plus (subject to policy terms and conditions):<\/strong><\/p>\n

Rebalancing cover<\/strong>: One of the variant (rebalancing cover) of the plan offers auto rebalance of Life cover Sum Assured and Accidental Death Benefit (ADB) cover Sum Assured.<\/p>\n

Multiple Plan Options<\/strong>: The policy includes unique variants, such as “Return of Premium<\/strong>,” “Early ROP Plus<\/strong>,” “Smart Cover<\/strong>,” and “Whole Life Cover<\/strong>,” each designed to address specific customer needs.<\/p>\n

Special Exit Value<\/strong>: Policyholders can receive up to 200% of the Total Premiums Paid back (excluding GST) from the 30th policy year onwards, ensuring higher value at the point of exit.<\/p>\n

Smart Cover<\/strong>: Designed for families with young children, this feature provides 1.5X coverage for the first 15 years, helping ensure more robust protection during the early years of financial responsibility.<\/p>\n

Whole Life Cover<\/strong>: Offers coverage until the age of 100 years, providing policyholders with long-term financial security, regardless of when the claim occurs.<\/p>\n

Income Protection Cover<\/strong>: Option to receive monthly income payouts in the event of death, available as either level income payout or inflation-proof payout.<\/p>\n

15% Discount for Salaried Individuals<\/strong>: The plan offers a 15% discount on the first-year premium for all salaried professionals, making it more accessible for a wider range of customers.<\/p>\n

Inbuilt Cover Continuance Benefit<\/strong>: Flexibility to defer the due premium for a period of up to 12 months from the due date of first unpaid premium, while maintaining the full risk cover under the base plan and attached riders (if any).<\/p>\n

The Axis Max Life Smart Term Plan Plus, which has 7 variants, meets the rising demand for adaptable financial security in India. Despite growing awareness, only 31% of urban Indians have term insurance (Axis Max Life IPQ 6.0 Survey<\/a>) revealing a protection gap. This plan, with its flexible options, empowers individuals to create a safety net for their families, aligning with Axis Max Lifes commitment to financial empowerment.<\/p>\n

About Axis Max Life Insurance Limited<\/strong><\/p>\n

Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited (“MFSL<\/strong>“) and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per the annual audited financials for FY2023-24, Axis Max Life Insurance has achieved a gross written premium of INR 29,529 Cr.<\/p>\n

About India Protection Quotient <\/strong>
\nThe India Protection Quotient (IPQ) is a financial study conducted by Axis Max Life Insurance Ltd in association with KANTAR. It measures the financial preparedness in urban India against an unforeseen future. Since the last 6 years, Axis Max Life has chartered Indias protection journey and captured the financial sentiments of the nation. An increase in IPQ scores signal our countrys increasing preparedness.<\/p>\n

For more information, please visit the company website at www.maxlifeinsurance.com<\/a><\/p>\n

Featured Article<\/p>\n","protected":false},"excerpt":{"rendered":"

Women-Centric Features: Tailored benefits such as a Lifeline Plus, Special Premium discount and Maternity cover Double Your Premium Back: Get 2x of your total premiums paid as Special Exit Value Axis Max Life Insurance (“Axis Max Life“\/ “Company“) has announced the launch of the Axis Max Life Smart Term Plan Plus (UIN: 104N127V01), a non-linked, […]<\/p>\n","protected":false},"author":12,"featured_media":106422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52886],"tags":[],"class_list":["post-27496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-english-news"],"_links":{"self":[{"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/posts\/27496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/comments?post=27496"}],"version-history":[{"count":0,"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/posts\/27496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/media\/106422"}],"wp:attachment":[{"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/media?parent=27496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/categories?post=27496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.matribhumisamachar.com\/en\/wp-json\/wp\/v2\/tags?post=27496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}