Axis Max Life Monthly Income Advantage Plan: Benefits | PolicyX
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Axis Max Life Monthly Income Advantage Plan

Axis Max Monthly Income Advantage Plan is a comprehensive plan that of ...Read More

🛡️ IRDAI Approved
⭐ 4.0/5 · 64 reviews
📊 100 years solvency ratio
✅ Minimum Age - 5 year% claim settlement ratio
🌐 Annual, half-yearly,+ pan-India

About Axis Max Life Monthly Income Advantage Plan

A quick read on what this Axis Max Life Investment Plans term plan covers and why it might be a fit for you.

Axis Max Monthly Income Advantage Plan is a comprehensive plan that offers dual life insurance coverage benefits until policy tenure and guaranteed income for a certain duration. You can also avail of riders including term plus rider, accidental death, disability rider, COVID-19 one-year rider, critical illness, and disability rider to enhance overall coverage. You can avail of a sum assured ranging from Rs 54,000 to no upper limit. This plan has 15 plan variants, and you can choose the one that best suits your needs.

Axis Max Monthly Income Advantage Plan offers a range of benefits including:

  • Guaranteed monthly income

  • Waiver of future premiums

  • Flexible policy tenure

  • Reduced paid-up value

Eligibility Criteria for Axis Max Life Monthly Income Advantage Plan

Entry age
Entry age
Minimum Age - 18 years Maximum Age - 55 years
Maturity age
Maturity age
Maximum Maturity Age - 90 years
Policy tenure
Policy tenure
Minimum term - 16 years Maximum term - 45 years
Premium payment term
Premium payment term
6,8,10,12,15 years
Premium payment frequency
Premium payment frequency
Annual, half-yearly, quarterly & monthly
Sum assured
Sum assured
No limit

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Guaranteed monthly income
  • Longer coverage
  • Waiver of premiums

Cons

  • Suicidal exclusion
  • No auto-cover continuance
  • No high sum assured rebate

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum entry age: 18 years
Maximum entry age: 55 years
Minimum sum assured: Rs 54
Maximum sum assured: No limit
Maximum policy term: 45 years
No specific waiting period information is available for the Axis Max Monthly Income Advantage Plan.

Benefits of Axis Max Life Monthly Income Advantage Plan

Premium calculation details for the Axis Max Monthly Income Advantage Plan are not provided in this section.

Documents Required for Axis Max Life Monthly Income Advantage Plan

Keep these documents handy when applying for Axis Max Life Monthly Income Advantage Plan.

Photo ID Proof

Any one of the following: Passport, Aadhaar card, PAN card, Driving license.

Age Proof

Any one of the following: Passport, Aadhaar card, PAN card, Driving license.

Address Proof

Any one of the following: Utility bill, passport, voter ID, ration card.

Medical Records

Medical records of the policyholder if requested.

Income Proof

Any one of the following: Bank statement, last three months' salary slips (if salaried).

Exclusions of the Axis Max Monthly Income Advantage Plan

Given below are some exclusions of the Axis Max Monthly Income Advantage Plan:

  • Suicide within 12 months of the policy purchase is not covered.
  • Consumption of any intoxicants.
  • Death due to any aviation accident.
  • Death due to any adventurous sports.

Other Features of Axis Max Life Monthly Income Advantage Plan

Here are the key features of the Axis Max Life Monthly Income Advantage Plan.

Plan At a Glance

What's Good HereWhat's Missing
Guaranteed Monthly IncomeGuaranteed Additions
Waiver of Future PremiumsNo High Sum Assured Rebate
Flexible Policy TenurePremium Offset
Rider ProtectionNo Auto Cover Continuance

In a nutshell

The Axis Max Monthly Income Advantage Plan can be an ideal choice if you are looking for a plan that protects your family financially even in your absence, along with providing regular monthly incomes if you survive the policy tenure. This plan offers longer coverage in exchange for limited premium payments. If you are still unsure whether this plan is right for you, please contact us at PolicyX.com. One of our insurance professionals will reach out to you and help you choose the plan that best suits your requirements.

Life Insurance Articles

FAQs: Max Life Monthly Income Advantage Plan

The 5 most-asked questions about Axis Max Life Monthly Income Advantage Plan, answered.

In case of the policyholder’s demise during the policy tenure, their family members or nominees don’t have to pay further premiums.
Yes, you can surrender your Axis Max Life Income Advantage Plan if you have made premium payments for a minimum of two years.
There are 15 plan variants available under the Axis Max Monthly Income Advantage Plan and you can choose the one that suits your needs.
You can choose from several riders including Axis Max Life Term Plus Rider, Max Life Accidental Death and Dismemberment Rider, Max Life COVID-19 One-Year Term Rider, Max Life Critical Illness and Disability Rider.
The maximum age to buy the Axis Max Life Insurance Monthly Income Advantage Plan is 55 years.

Written and reviewed by

PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.

Written by Himanshu Kumar — Term & Life Insurance Reviewed by Anchita Bhattacharyya — Health, Term & Life Insurance
Last updated: 31 Jan 2025 · Originally published: 31 Jan 2025

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