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“Policybazaar helped me settle my dad's max term insurance in such a little time. I didn't even have to do a lot. They handled everything since my dad had purchased the plan through them. Thank you policybazaar.” – Ashtekar, Bangalore
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Ashtekar’s father, who came from Bangalore, had purchased the Max Life Term Insurance to secure his family. Max Life provides a wide range of life insurance plans that provide both protection and the opportunity to have long-term savings. It also ensures that housewives are provided financial protection against several unforeseen events in life.
Axis Max Life Insurance is one off the leading insurer in India that offers financial products that fit the needs of people from all walks of life. The company is a joint venture between Axis Bank and Max Financial Services Ltd. and has over 269 offices pan India, promising empathy and transparency to its customers. With a CSR of 99.51% in the FY 2022-23, Max Life has settled claims worth 1,397,142 Cr. in sum assured and has around 122,857 Cr. assets under management.
Let’s understand the multiple features and benefits of Axis Max Life Insurance.
Term Plans
Axis Max Life Insurance is known for its flexible and customizable features that allow policyholders to buy term plan according to their preferences and life goals. Below are some reasons why you can consider buying the Axis Max Life Insurance:
A wide range of comprehensive policies is available to meet the different needs of insurance buyers.
Buyers have the option to choose a high coverage plan with an affordable premium rate.
The policies offer insurance coverage and also provide tax exemption benefits under sections 80C and 10(10D) of the Income Tax Act.
Purchasing a policy online from the official website of the insurer is convenient and easy.
The company's plans aim to secure the financial future of the insured person's family.
Axis Max Life Insurance policies help the insured person ensure financial security for their family and protect them from unforeseen circumstances.
Note: Know what is term plan first and then buy a term plan for your loved ones.
Note: It is suggested to calculate the term plan premium on the term policy calculator online tool by Policybazaar before buying.
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Max Smart Secure Plus is one of the best plans for people who wish to secure their families against financial burden in the long-run. It is one plan that aims at providing comprehensive financial protection to its customers. With dual benefit types and multiple payout options, this plan provides financial security to the policyholder and a choice to customize the benefits of the plan.
Below mentioned are the features of the Max Smart Secure Plus Plan:
Cover Options: This plan offers 2 cover options:
Life Cover
Increasing Life Cover
Claims Payout: You also have the option to choose amongst 3 payout modes:
Lump sum
Monthly Income
Part Lump sum and Part Monthly Income
Terminal Illness: You will receive free coverage if you are diagnosed with a terminal illness. You will also get an accelerated payout of Rs. 1 Crore with no additional premiums.
Return of Premium: You can enjoy the return of the premiums you paid throughout the policy at the end of the policy term on surviving the policy.
Special Exit Value: You have the option to get back all the premiums upon special exit with no additional premiums required to be paid. However, this option is unavailable in the Return of Premium variant.
Premium Break: You will receive an option to skip paying the premiums for a year and yet, stay covered. However, you will only receive a total of 2 premium breaks in your entire policy term.
Benefits for Housewives: Housewives can buy the Max Life Term Plan and financially protect themselves and their loved ones against multiple unforeseen events, like critical illnesses or, worse, death. These plans offer a guaranteed payout to the family of the housewife in an unforeseen event with the housewife. This payout is guaranteed against the premium made by the policyholder.
Joint Life Option: You can also cover your spouse under the same plan at a very nominal premium.
Riders: You get to avail extra benefits from riders such as Accidental Death benefit, Waiver of Premium Plus Rider and Critical Illness and Disability Rider.
Below mentioned is the eligibility criteria for buying a Axis Max Life Insurance Plan:
| Parameters | Minimum | Maximum |
| Entry Age | 18 years | 65 years |
| Maturity Age | - | 85 years |
| Policy Term | 5 years | 67 years |
| Sum Assured | 20 Lakhs | - |
Ashtekar and his family have been secured by dint of his late father’s concern towards financially protecting them for the long run. The Axis Max Life Insurance aims at covering for the risks that may cause monetary burden in the lives of the policyholder’s loved ones, and will do the same for the Ashtekar, too.
Note: Check out the best term life insurance in India and choose one that suits your requirements.
Note: You should also check the term life insurance benefits if you are planning to purchase the term insurance plan.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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