Why Choose Axis Max Life Term Insurance Plans?
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Flexibility with Plans: These plans provide policyholders with customization options in various aspects such as policy term, cover amount, and premium term.
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Easy Buying Option: Axis Max Life term plans are available both offline and online. Customers can choose either option to buy plans at their convenience.
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Wide Range of Plans: Axis Max Life Insurance offers a variety of term insurance plans that suit the different requirements of customers.
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Tax Benefits: Axis Max Life Insurance offers tax benefits up to Rs 1.5 lakhs for the premiums paid under Section 80C of the Income Tax Act of 1961. Moreover, the death benefits paid are also tax-free.
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Affordable Premiums: Compared to other insurance companies in the industry, Axis Max insurance plans are among the most economical plans, offering high sum assured options to the policyholder.
Eligibility Criteria for Axis Max Term Insurance Plans
To purchase an Axis Max term insurance plan, certain eligibility criteria must be met. Let's understand the eligibility criteria in detail.
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Age: A person between the ages of 18 and 65 is eligible to apply for a term life insurance plan. The policyholder's age is a key factor in the term insurance plan's premium.
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Health Condition: Since an Axis term insurance plan insures the policyholder's life, most insurance providers require a policyholder to undergo a health examination to determine their current health condition and the inherent risks for the insurer. Be completely honest about your health condition and medical history to avoid issues during claim settlement.
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Income: An Axis term insurance plan has no specified minimum income requirement. However, they might ask you for your bank statement copies and salary slips to determine the coverage on your term plan.
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Smoking Habits: If you smoke or have been a smoker in the past, you must disclose this information to the insurer because smokers are exposed to severe health hazards like lung cancer.
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Citizenship: Indian citizens can buy an Axis term insurance plan in India in their name. NRIs or PIOs can also leverage the benefits of a term insurance plan in India.
Who Should Buy Axis Max Life Term Insurance Plans?
Axis Max Life Insurance Plans are best for anyone who needs strong, affordable, or long-term protection for their families. You should consider this plan if your family relies on your income, or you are a younger earner looking to lock in high coverage at low premiums. This plan is also suitable if you have liabilities, loans, work in a high-risk profile, or are a woman seeking cost-effective and comprehensive protection.
Additional Benefits Offered by Axis Max Term Plans
Axis Max Life Term Insurance Plans offer various additional benefits to policyholders.
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Special Premium Rates for Non-Smokers and Females: Axis Max Life Term Plans, such as Axis Max Life Online Term Plan Plus, offer special premium rates for non-smokers as well as females.
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Joint Life Option: Some Axis Max Life Term Plans, such as the Smart Secure Plus Plan, offer you the option to cover your spouse under the same plan.
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High Sum Assured Discounts: Axis Max Life Term Plans, such as Axis Max Life Term Plan with Return of Premium (TROP) and Axis Max Life Online Term Plan Plus, offer discounts on choosing a high sum assured with your plan.
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Choice of Death Benefit Variants: Axis Max Life Smart Term Plan offers multiple death benefit variants for policyholders to choose from as per their requirements.
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Voluntary Sum Assured Top-up Option: Axis Max Life Smart Secure Plus Plan offers a voluntary sum assured top-up option to policyholders so that they can increase their sum assured during the policy term as per their needs.
Types of Axis Max Life Term Plans
There are various Axis Max Life term plans based on their features, policy tenure, and benefits. You can choose the one that best suits your requirements.
Basic Term Plan
Plan Name: Axis Max Life Online Term Plan
These plans only provide a sum assured to the nominee in case of the policyholder's death. No survival benefits are included.
Term Plan with Return of Premium
Plan Name: Axis Max Life Term Plan with Return of Premium (TROP)
These plans return the premium amount to the policyholders only if they survive the policy term. In case of a policyholder's death, the family will receive the chosen sum assured.
Term Insurance with Monthly Income
Plan Name: Axis Max Life Monthly Income Advantage Plan
These plans offer monthly income to the policyholder's dependents in case of the policyholder's demise during the policy tenure.
Term Insurance with Critical Illness
Plan Name: Axis Max Life Online Term Plan Plus
These plans offer inbuilt coverage against critical illnesses mentioned in the plan brochure.
Term Insurance with Accidental Disability & Death Cover
Plan Name: Axis Max Life Smart Term Plan
These plans offer inbuilt coverage against accidental disability, along with a death cover.
Riders You Can Avail with Axis Max Term Insurance Plans
There are various riders that you can avail with Axis Max term insurance plans as per your needs.
| 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. |
Documents Required to Buy an Axis Max Life Term Insurance Policy
Here are the documents required to buy an Axis Max Life Term Insurance Plan:
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Photo ID Proof: Passport, Aadhaar card, PAN card, Driving license.
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Age Proof: Passport, Aadhaar card, PAN card, Driving license.
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Address Proof: Utility bill, passport, voter ID, ration card.
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Medical Records: Medical records of the policyholder if requested.
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Income Proof: Bank statement, last three months' salary slips (if salaried).
How to Calculate Premiums
- Visit the official website of Axis Max Life Insurance.
- Click on 'Calculate Premium' and fill in the form that appears.
- Add benefits and riders as per your choice, then click on 'Continue'.
- Review the plan options and premium details, then select a suitable plan.
- Click on the 'Buy' option.
How to File an Axis Max Life Term Insurance Plan Claim
The claim settlement process for term plans is simple and hassle-free. The insurance provider gives you the option of filing a claim both online and offline. We have explained the process by which you can easily submit and settle your claim below:
Online Process
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Claim Reporting: Report your Axis Max Life Term plan claim by visiting the claim section of the insurance website.
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Claim Review: Axis Max Life's customer support staff will review your claim form and assist you at every step. Their staff will then evaluate your claim and notify you if any papers are still pending.
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Claim Approval and Settlement: Your claim will be resolved once you have informed the insurer of your claim and all necessary documents have been received.
Offline Process
The Axis Max Life Term plan claim can be reported by visiting a local branch office. For details of Axis Max Life Insurance branches, you can visit their website and locate the nearest branch. You must submit the essential documents at the branch so that your claim can be processed.
How to Port Your Policy
- Fill out the form at the top of this page with the necessary details.
- Select your income and city. Click on 'Proceed'.
- Update your education and occupation details.
- Choose your preferred plan and click on 'Buy this plan'.
- Select the policy term, premium period, and riders (if required), and then proceed to pay.
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