Axis Max Life Smart Wealth Plan

The Axis Max Life Smart Wealth Plan helps you secure guaranteed returns along with life insurance protection under a non-linked, non-participating structure. It offers four benefit variants, including lumpsum, short term income, long term income, and whole life income options. Depending on the variant you select, the plan provides guaranteed additions, defined income payouts, or joint life coverage.

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  • 6.29 Crore Policies Sold
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13.2 Crore
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6.29 Crore
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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Eligibility Criteria for the Axis Max Life Smart Wealth Plan

Get to know all the eligibility conditions for Axis Max Life Investment Plans to understand your earning and saving possibilities better:

Eligibility Criteria Plan Option Minimum Maximum
Age At Entry (Years)* Lumpsum 0 (91 Days) 65^
 Short Term Income  5 65^
 Long Term Income 4 65^
 Whole Life Income Single Pay – 45 (Younger Life)
Regular Pay – 40 (Younger Life)
65 (Older Life)
Age At Maturity (Years)* Lumpsum 18 85
Short Term Income 18 73
Long Term Income 18 74
Whole Life Income 46 71
Minimum Premium (Exclusive of GST and underwriting extra premium) Lumpsum Annual: Rs. 11,000
Semi-Annual: Rs. 5,583
Quarterly: Rs. 2,814
Monthly: Rs. 943
Short Term Income Single Pay: Rs. 2,50,000
Regular Pay (Annual): Rs. 50,000
Regular Pay (Semi-Annual): Rs. 25,375
Regular Pay (Quarterly): Rs. 12,790
Regular Pay (Monthly): Rs. 4,285
Long Term Income Same As Short-Term Income
Whole Life Income Same As Short-Term Income
Maximum Premium All Options No Limit, Subject To Board-Approved Underwriting Policy (BAUP)
Premium Payment Mode & Modal Factors Lumpsum Annual / Semi Annual / Quarterly / Monthly

*Age as on last birthday

^Maximum entry age calculated as 72 minus PPT (subject to 65 years cap)

Features of Axis Max Life Smart Wealth Plan

  • Guaranteed returns: The plan provides fully guaranteed benefits, subject to payment of all due premiums.
  • Four plan variants: You can choose from Lumpsum, Short-Term Income, Long-Term Income, or Whole Life Income options at inception.
  • Guaranteed additions (Lumpsum option): Under the lump sum variant, guaranteed additions accrue during the last four policy years and are payable on maturity or surrender.
  • Whole Life Income with joint cover: The Whole Life Income option allows joint life coverage, and income continues until the death of the last surviving life.
  • Premium payment flexibility: Premiums can be paid annually, semi-annually, quarterly, or monthly, as per the chosen variant and modal factors.
  • Under the lump sum variation, guaranteed additions build up over the last four years of the policy and can be paid out at maturity or when the policy is surrendered, depending on its status.

Benefits of the Axis Max Life Smart Wealth Plan

Here are the benefits of the Axis Max Life Smart Wealth Plan for each variant:

  1. Death Benefit (Variants 1, 2 & 3)
    Higher Of:
    • 11 Times Annualised Premium Plus Underwriting Extra Premium
    • 105% of Total Premiums Paid Plus Underwriting Extra Premium
    • Absolute Amount Assured On Death
    • The absolute amount assured equals total premiums paid, accumulated monthly at 8% p.a.
  2. Death Benefit (Variant 4 - Whole Life Income)
    Higher Of:
    • 1.25 Times Single Premium (Single Pay)
    • 7 Times Annualized Premium (Regular Pay)
    • 105% Of Total Premiums Paid
    • Absolute Amount Assured
    • For joint life, the benefit continues until the death of the last surviving life.
  3. Maturity Benefit
    • Variant 1 – Lump sum
      • Guaranteed Sum Assured On Maturity (100%–125% × Annualised Premium × PPT, depending on policy term)
      • Accrued Guaranteed additions
    • Variant 2 – Short-Term Income
      • Guaranteed Income payable for 6–12 years after policy term
    • Variant 3 – Long-Term Income
      • Guaranteed Income for 25 or 30 years
      • Terminal benefit equal to total premiums paid at the end of income period
    • Variant 4 – Whole Life Income
      • Guaranteed Income until the death of the last survivor

Riders Under the Axis Max Life Smart Wealth Plan

Optional riders can be added for additional protection, subject to underwriting approval and rider availability as per policy guidelines.

Policy Details of Axis Max Life Smart Wealth Plan

  1. Grace Period
    • 30 Days For Annual, Semi-Annual, Quarterly
    • 15 Days For Monthly Mode
  2. Revival
    Allowed within the policy revival period as per policy conditions.
  3. Free Look Period
    15 Days (30 Days For Distance Marketing Policies)
  4. Surrender
    • Surrender value equals the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
    • Single Pay: Immediate acquisition
    • Other Than Single Pay: After two full years’ premium (GSV)
  5. Loan
    Available as per policy provisions after surrender value acquisition.

Exclusions Under the Axis Max Life Smart Wealth Plan

  • Suicidal Cover
    In case of suicide within 12 months from risk commencement or revival, only 80% of premiums paid (or as per policy terms) shall be payable, excluding taxes and extra premiums.
  • Total Permanent Disability (TPD)
    Being one of the best investment plans in India, this also has no in-built TPD under the base plan. Coverage may be available under applicable riders.

FAQs

  • When does the guaranteed income start under the Axis Max Life Smart Wealth Plan?

    Income starts after the policy term ends, as per the selected income variant.
  • Does income continue after the death of the life insured?

    Yes, for income variants, the unpaid guaranteed income continues to the beneficiary during the payout period.
  • Is it possible for me to give up the Axis Max Life Smart Wealth Plan early?

    Yes, you can surrender once the policy acquires a surrender value, subject to the terms.
  • What happens if I stop paying premiums under the Axis Max Life Smart Wealth Plan?

    The policy may change to Reduced Paid-Up status, which means that benefits will go down by the same amount.
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Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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(Based on 1298 Reviews)

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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

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