Lic Pension Plans vs Axis Max Life

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Lic Pension Plans vs Axis Max Life

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 (2024-25)

Annual Premiums Collected (2024-25)

Rs 1 lakh to No limit

Annual Premiums Collected (2024-25)

222.60 crore
Payout Options

Payout Options

-

Payout Options

Life insurance policies, including those from Axis Max Life Insurance, typically do not involve a ne
Claim ratio

Claim ratio

Minimum Age- 30 year%

Claim ratio

99.68%%
Solvency Ratio

Solvency Ratio

85 years

Solvency Ratio

2.01
Branches

Branches

Annual, half-yearly,

Branches

405
Riders Available

Riders Available

10 to 30 years

Riders Available

To initiate a claim, you will need to fill out the Axis Max Life Insurance claim form. This form can be downloaded from the official Axis Max Life Insurance website or obtained from any of their branch offices. Ensure all sections are accurately completed
Policy Term

Policy Term

10 to 40 years

Policy Term

10 to 67 years
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Overview

LIC Pension Plan

LIC Pension Plans are designed to secure your future after retirement. These policies are ideal for senior citizens and those planning a secure future, ensuring they can continue to enjoy the best things in life. LIC (Life Insurance Corporation of India) is one of the oldest and most trusted insurance providers. LIC pension plans are developed after extensive research and have helped millions of senior citizens across the country. LIC Pension schemes are versatile, meeting the evolving needs of every generation. Currently, the Life Insurance Corporation of India offers 4 LIC retirement plans that provide a steady flow of income to individuals in their second innings of life post-retirement.

LIC Pension Plans ensure your insurance needs are met by offering:

  • 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 waives all future premiums, and policy benefits remain the same in case of disability, dismemberment, or diagnosis of a listed critical illness.
Axis Max Life Comprehensive Accident Benefit Rider Offers financial assistance to dependents in addition to base policy benefits if the policyholder's demise is due to an accident.
Axis Max Life Terminal Illness Rider Offers financial benefits if the policyholder is diagnosed with a terminal illness.
Axis Max Life Total and Permanent Disability Cover This rider offers financial benefits if the policyholder becomes partially or totally disabled.
Axis Max Life Critical Illness and Disability Rider If the policyholder is diagnosed with any critical illness mentioned in the brochure, rider benefits are paid.

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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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