Overview
The Axis Max Life Premium Return Protection Plan is a simple term insurance plan that offers coverage along with a 'Return of Premium' benefit. The plan offers a limited premium payment term of 11 years, making it a smart choice for securing a family's future. Policyholders have the flexibility to choose a protection period (20, 25, or 30 years).
Key benefits of the Axis Max Life Premium Return Protection Plan include:
- Death Benefit
- Tax Benefit
- Limited Premium Payment Term
- Premium Payment Flexibility
- Long Term Protection
- Survival Benefits or Return of Premium
Key Benefits of the Axis Max Life Premium Return Protection Plan
Death Benefit
In the event of the insured's death during the policy term, the nominee will receive the death benefit payout.
Survival Benefits or Return of Premium
If the policyholder outlives the policy term, the company will pay back all premiums paid, including any extra premiums for additional benefits.
Long Term Protection
The insured gets long-term protection for their loved ones, with an option to choose a policy term of 20, 25, or 30 years.
Tax Benefits
The Axis Max Life Premium Return Protection Plan offers term insurance tax benefits under Section 80C of the Income Tax Act, 1961, for up to ₹1.5 lakhs of the total premium paid in the same financial year.
Child's Financial Protection
Your child's future remains secure even in your absence. The plan can provide income support for education and daily needs.
Free Health Management Services up to ₹36,500 per Year
You get access to health support services at no extra cost, which helps with preventive care and medical guidance.
Riders Associated with Axis Max Life Premium Return Protection Plan
You can add the following riders to your Axis Max Life Premium Return Protection Plan:
Waiver of Premium Plus Rider
Future premiums are waived if you face permanent disability or critical illness, ensuring your plan remains active without payment burden.
Accidental Death and Dismemberment Rider
This rider provides an extra payout over the base sum assured in case of loss of limbs or accidental death, adding a financial safety layer.
Inbuilt Accidental Death Benefit
This provides an automatic extra payout of 50% of the sum assured on accidental death, without needing a separate rider.
Critical Illness Cover (60 Conditions)
You get protection against 60 major critical illnesses, including women-specific diseases, providing stronger health security.
Exclusions
- The policy will be terminated if the policyholder commits suicide within 12 months from the policy inception date.
- Death due to consumption of intoxicants.
- Death due to aviation accidents.
ChatGPT
Claude
Perplexity
4573-1743757256.png){kind=logo}
