Axis Max Life Investment Plans
The Axis Max Life Smart Wealth Plan is a combination of insurance and ...Read More
A quick read on what this Axis Max Life Investment Plans term plan covers and why it might be a fit for you.
The Axis Max Life Smart Wealth Plan is a combination of insurance and savings that protects your loved ones financially in your absence and guarantees survival returns. This plan offers four plan options, allowing you to choose the one that best suits your needs.
The Axis Max Life Smart Wealth Plan is a non-participating, non-linked savings life insurance plan. Let's explore the plan in detail for better clarity and understanding.
The Axis Max Life Smart Wealth Plan offers a range of benefits, including:
A quick honest summary — the strengths and the trade-offs.
Eligibility criteria pulled straight from the policy wording.
Let’s understand how different plan options of the Axis Max Life Smart Wealth Plan work with the help of an illustration table.
Mr. Verma, aged 35 years, chooses the Axis Max Life Smart Wealth Plan.
1. Lump Sum Variant
Mr. Verma, aged 35 years, chooses the Lump Sum variant of the Axis Max Life Smart Wealth Plan.
| Policy Term | Premium Payment Term | Annual Premiums | Total premium amount | Guaranteed sum assured | Accrued additions | Total maturity benefits | Death benefits |
| 16 years | 8 years | Rs 1 lakh | Rs 8 lakhs | Rs 11,20,000 | Rs 4,77,080 | Rs 15,97,080 | Rs 21,26,240 |
The death benefits payable are the highest of the three:
2. Short-Term Income Variant
Mr. Verma, aged 35 years, chooses the Short-Term Income variant of the Axis Max Life Smart Wealth Plan.
| Policy Term | Premium Payment Term | Annual Premiums | Total premium amount | Annual income benefits | Total income benefits | Death benefits |
| 13 years | 12 years | Rs 1 lakh | Rs 12 lakhs | Rs 2,19,510 | Rs 26,34,120 | Rs 22,13,520 |
Mr. Verma will receive an annual income of Rs 2,19,510 starting from the 14th year till the end of the 25th year.
The death benefits payable are the highest of the three:
3. Long-Term Income Variant
Mr. Verma, aged 35 years, chooses the Long-Term Income variant of the Axis Max Life Smart Wealth Plan.
| Policy Term | Premium Payment Term | Annual Premiums | Total premium amount | Annual income benefits | Total income benefits | Death benefits |
| 7 years | 6 years | Rs 1 lakh | Rs 6 lakhs | Rs 44,750 | Rs 13,42,500 | Rs 11 lakhs |
Mr. Verma will receive an annual income of Rs 44,750 starting from the 8th year till the end of the 37th year, along with terminal benefits of Rs 6,00,000 at the end of the policy tenure.
Total benefits = Rs 13,42,500 + Rs 10,00,000 = Rs 23,42,500
The death benefits payable are the highest of the three:
4. Whole Life Income Option
Mr. Bajaj, aged 50 years, chose the Whole Life Income option of the Axis Max Life Smart Wealth Plan for himself and his wife, aged 45 years.
| Policy Term | Premium Payment Term | Premium amount | Annual payout | Total income benefits | Death benefits |
| 5 years | Single pay | Rs 10 lakhs | Rs 66,900 | Rs 29,43,600 |
|
Mr. Bajaj will receive an annual income of Rs 66,900 starting from the 6th year till the end of the 49th year, along with a return of a single premium paid of Rs 10 lakhs at the end of the policy tenure.
Total benefits = Rs 29,43,600 + Rs 10,00,000 = Rs 39,43,600
Here are the benefits of buying the Axis Max Life Smart Wealth Plan:
Key features that make Axis Max Life Smart Wealth stand out.
Free look option
This plan offers a free look option to review the terms and conditions. If you are not satisfied and wish to return it, you can do so within a free look period of 15 days.
Grace period
There are instances when policyholders miss their premium payments. During the grace period, you can pay your late premiums without late fees. A grace period of 15 days is provided for monthly payments and 30 days for annual payments.
Policy revival
If your policy has lapsed due to non-payment of premiums, you can revive it within five years from the date of the unpaid premium. If the policy is not revived within five years, the insurance company may terminate it.
Reduced paid-up
When your policy acquires a surrender value, it automatically becomes eligible for reduced paid-up in case you do not wish to pay further premiums.
Surrender value
Your policy acquires a surrender value if you have continuously paid premiums for the first two years under plan options 1, 2, and 3, and after the expiry of the free look period for plan option 4.
Keep these documents handy when applying for Axis Max Life Smart Wealth.
Photo ID Proof
Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Utility bill, passport, voter ID, ration card.
Medical Records
Medical records of the policyholder, if requested.
Income Proof
Bank statement, last three months' salary slips (if salaried).
The 5 most-asked questions about Axis Max Life Smart Wealth, answered.
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
Select a company and plan for each side to see a detailed side-by-side comparison.
Rated by 64 customers
Select Your Rating
Let us know about your experience or any feedback that might help us serve you better in future.
Do you have any thoughts you'd like to share?
5-min consultation · No spam · No pushy sales
ChatGPT
Claude
Perplexity