Axis Max Life 1 Crore Term Insurance Plan
Axis Max Life 1 crore term insurance is a life insurance plan that pays a lump sum of ₹1 crore to the policyholder’s nominee if the policyholder dies during the policy term. Axis Max Life Insurance provides four 1 crore term plans: Smart Term Plan Plus, Smart Secure Plus Plan, Smart Total Elite Protection Plan, and Premium Return Protection Plan. Each plan differs in entry age limits, policy tenure, and optional benefits such as return of premium, joint life cover, and premium break options.
1 Crore Term Insurance Plans by Axis Max Life Insurance
Below is a list of Axis Max Life 1 crore plans, including their eligibility criteria and benefits that you can consider for buying.
| Plan Name | Entry Age | Maturity Age | Policy Tenure | Unique Features |
|---|---|---|---|---|
| Axis Max Life Smart Term Plan Plus | 18 to 65 years | 100 years | Minimum - 5 years, Maximum - 82 years |
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| Axis Max Life Smart Secure Plus Plan | 18 to 65 years | 85 years | Minimum - 10 years, Maximum - 67 years |
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| Axis Max Life Smart Total Elite Protection (STEP) Plan | 18 to 65 years | 85 years | Minimum - 10 years, Maximum - 67 years |
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| Axis Max Life Premium Return Protection Plan | 21 to 55 years | 75 years | Minimum - 20 years, Maximum - 30 years |
|
Axis Max Life Term Plan for 1 Crore: Overview
Here’s a brief overview of the 1 crore term insurance plans offered by Axis Max Life Insurance so that you can understand them better.
1. Axis Max Life Smart Term Plan Plus
Axis Max Life Smart Term Plan Plus is one of the comprehensive term plans that offers 1 crore coverage to help you meet changing needs. You have the option to skip your premiums in case of any emergencies, if you have completed 3 policy years. You can choose from 7 plan variants with this plan, including:
- Regular Cover
- Rebalancing Cover
- Early ROP Plus
- Smart Cover
- Return of Premium
- Whole Life Cover
- Income Protection Cover
Why Choose Axis Max Life Smart Term Plan Plus?
- Provides an option to receive a special exit value of 2X of the premiums paid with limited pay.
- Choice of plan option as per your needs.
- Option to choose whole life coverage with this plan.
- Accelerated payout of the sum assured within 24 hours of claim intimation.
- Exclusive benefits for female policyholders, including a premium discount, maternity cover, sum assured top-up option, etc.
2. Axis Max Life Smart Secure Plus Plan
Axis Max Life Smart Secure Plus Plan is a pure term insurance policy that helps you secure the future of your loved ones financially in your absence. This plan offers a lot of exclusive benefits for policyholders to choose from, including premium breaks, joint life cover, additional payout on accidental death, and much more.
Why Choose Axis Max Life Smart Secure Plus Plan?
- Option to receive all the premiums back with the Return of Premium (ROP) option.
- Choice to top-up the sum assured on completion of one year.
- Option to skip premiums in case of emergencies or uncertainties.
- Joint life coverage option to secure your spouse under the same plan.
- Flexible policy tenure and premium payment tenure.
3. Axis Max Life Smart Total Elite Protection (STEP) Plan
Smart Total Elite Protection Plan by Axis Max Life Insurance is an easy-to-customize term insurance plan with a lot of features for policyholders to choose from. This plan comes with an inbuilt terminal illness cover that pays an accelerated payout of Rs 1 crore in case the policyholder is diagnosed with any of the terminal illnesses mentioned in the policy brochure.
Why Choose Axis Max Life Smart Total Elite Protection Plan?
- High sum assured discounts.
- Premium discounts for female policyholders.
- Special exit value to receive back all your paid premiums.
- Option to choose additional rider benefits.
- Instant payment on claim intimation.
4. Axis Max Life Premium Return Protection Plan
Axis Max Life Premium Protection Plan provides financial security to your loved ones, along with a premium return in case the policyholder survives the policy tenure. You have the option to get coverage for a long tenure while paying premiums for a limited policy term.
Why Choose Axis Max Life Premium Return Protection Plan?
- Inbuilt accidental death benefit cover that pays 50% sum assured as a benefit.
- Return of premium on the policyholder’s survival.
- Additional discounts for female policyholders.
- Limited payment tenure along with long-term coverage.
- Guaranteed death benefits in case of the policyholder’s death.
Features of Axis Max Life 1 Crore Term Insurance
There are various customer-centric features of Axis Max Life 1 crore term insurance that make it an ideal choice.
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Choice of Premium Payment Tenure
Axis Max Life 1 crore plans allow policyholders to choose their preferred premium payment tenure. There are various premium payment modes available, including limited-term, fixed instalments (monthly, quarterly, half-yearly, or yearly).
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Long Term Coverage
Policyholders can choose coverage up to 100 years of age with Axis Max Life Insurance’s 1 crore term plans.
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Return of Premium Option
Some Axis Max Life 1 crore term insurance plans offer a Return of Premium option upon survival.
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Joint Life Coverage
With the joint life coverage option, you can cover your spouse under the same plan by paying an additional premium amount.
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High Sum Assured Discounts
Axis Max Life Insurance 1 crore term plans offer discounts for a high sum assured of Rs 1 crore or more.
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Sum Assured Top-up
Some Axis Max Life term plans with 1 crore coverage allow policyholders to top up their coverage at certain life stages, such as marriage, childbirth, etc.
Benefits of Axis Max Life Insurance 1 Crore Term Plans
Buying 1 crore term insurance from Axis Max Life offers a lot of benefits to the policyholders and their families. Here are all the benefits offered by Axis Max Life 1 crore term insurance plans:
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Financial Protection
A 1 crore term insurance policy by Axis Max Life Insurance offers a guaranteed payout to the policyholder’s family so that they can live comfortably even in their absence.
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Premium Break Benefits
Policyholders have the option to skip the premiums of their plan for a certain period in case of any emergencies or uncertainties. The coverage remains active even if the premiums are skipped.
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Enhanced Coverage with Riders
Axis Max Life 1 crore term insurance plans allow policyholders to enhance coverage by opting for additional riders. There are various rider benefits available, including an accidental death benefit rider, a critical illness rider, a terminal illness rider, etc.
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Special Exit Value
Axis Max Life 1 crore term plans offer a special exit value, allowing policyholders to surrender the policy after a certain term.
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Debt Coverage
If the policyholder has outstanding loans, a 1 crore term insurance plan ensures these do not become a burden for their family in case of their death.
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Tax Benefits
Premiums paid for Axis Max Life 1 crore term plans are eligible for tax benefits under Section 80C of the Income Tax Act, 1961.
Documents Required to Buy Axis Max Life 1 Crore Term Plans
To buy an Axis Max 1 crore term plan, various documents are required, including identity proof, income proof, address proof, and medical proof. Here is a list of documents required to buy Axis Max Life 1 crore term plans.
| Types of Documents | Documents |
|---|---|
| Identity Proof (Any one) | Passport, Voter ID, Aadhaar Card, PAN Card |
| Income Proof | If salaried - Last 3 months’ salary slips and bank statements having salary credit information. |
| If self-employed - Last 3 years with the Computation of Income (COI). | |
| Address Proof (Any one) | Water Bill, Telephone Bill, Aadhaar Card, Rent Agreement, Electricity Bill |
| Medical Proof | The latest medical test reports allocated by the insurer |
How to Buy Axis Max Life 1 Crore Term Plans?
You can buy Axis Max Life Insurance 1 crore term plans either through PolicyX.com or the official Axis Max Life website.
Buying From PolicyX.com
- Visit the PolicyX website.
- Select your age, gender, city, annual income, name, and mobile number.
- Choose your date of birth, education qualification, occupation, and smoking habits. Then click on ‘Continue’.
- Choose your coverage amount as 1 crore and select the company ‘Axis Max Life Insurance’.
- The list of 1 crore Axis Max Life term plans will be displayed on your screen.
- Choose a plan that best suits your needs and make the premium payment.
Once payment is made, you will receive the payment receipt and policy documents shortly.
Buying from Axis Max Life
You can buy a 1 crore Axis Max Life term plan from their official website or a nearest branch office.
Conclusion
A term insurance plan with a minimum 1 crore coverage is essential to ensure your loved ones can live comfortably even in your absence. Axis Max Life Insurance is one of the leading private life insurers, with gross written premiums of Rs 29,529 crore as per the 2023-24 financial report, demonstrating strong customer trust. You can use the PolicyX term insurance premium calculator to calculate premiums for Axis Max Life 1 crore term plans.
If you are still unsure which Axis Max Life 1 crore term plan is best, contact us at 1800-420-0269 or visit our website, PolicyX.com.
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