Lic Pension Plans
vs
Axis Max Life

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Lic Pension Plans vs Axis Max Life

Lic Pension Plans

LIC Pension Plans are designed to secure the future after retirement. These policies are most suited for senior citizens and those planning a secure future so that they never give up on the best things in life.

Axis Max Life

Axis Max Life Insurance is a joint venture between Axis Bank and Max Life. Axis Max Life Insurance provides comprehensive protection and long-term savings life insurance solutions.

COMPANY DETAILS Edit LIC Pension Plan

Lic Pension Plans

 Edit Axis Max Life Insurance Page

Axis Max Life
Rating
Number of life insurance plans and add-ons
Annual Premiums Collected (2023-24)

Annual Premiums Collected (2023-24)

Rs 1 lakh to No limit

Annual Premiums Collected (2023-24)

25341.91 Cr
Payout Options

Payout Options

-

Payout Options

Lump sum, fixed payouts, or a combination of both
Claim ratio

Claim ratio

Minimum Age- 30 year%

Claim ratio

99.70%
Solvency Ratio

Solvency Ratio

85 years

Solvency Ratio

1.9
Branches

Branches

Annual, half-yearly,

Branches

239
Riders Available

Riders Available

10 to 30 years

Riders Available

Waiver of Premium, Comprehensive Accident Benefit Rider, Terminal Illness Rider, Total and Permanent Disability Cover, Critical Illness and Disability Rider
Policy Term

Policy Term

10 to 40 years

Policy Term

5 to 67 years

Know More About Companies

Overview

LIC Pension Plan

LIC Pension Plans are designed to secure the future after retirement. These policies are most suited for senior citizens and those planning a secure future so that they never give up on the best things in life. LIC (Life Corporation of India) is one of the oldest and most trusted insurance providers. The LIC Pension Scheme will help you in the golden years of your life. LIC pension plans are designed after extensive research and have been able to help millions of senior citizens across the country. LIC Pension schemes are versatile that meet every generation's evolving needs. Currently, 4 LIC retirement plans offered by the Life Insurance Corporation of India provide a steady flow of income to individuals in their second innings of life post-retirement.

LIC Pension Plan ensures to look after your insurance needs by offering:

why-choose

  • Secure a regular income with LIC pension plans

  • Easy process

  • A good investment for corporate employees

  • Lifetime Payout

 

Riders

Riders You Can Avail With Axis Max Life Insurance Plans

Name of the Rider Benefits
Axis Max Life Waiver of Premium It will waive all future premiums, and the benefits of the policy will remain the same in case of disability, dismemberment, or diagnosis of a listed critical illness.
Axis Max Life Comprehensive Accident Benefit Rider Offers financial help to your dependents in addition to base policy benefits in case of the policyholder’s demise due to an accident.
Axis Max Life Terminal Illness Rider Offers financial benefits in case the policyholder is diagnosed with any of the terminal illnesses.
Axis Max Life Total and Permanent Disability Cover This rider offers financial benefits in case the policyholder becomes partially or totally disabled.
Axis Max Life Critical Illness and Disability Rider In case the policyholder is diagnosed with any of the critical illnesses mentioned in the brochure then rider benefits are paid to them.

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.

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