Axis Max Life Insurance Announces ULIPs Sales via Internet

With the success of selling term plans online, Axis Max Life Insurance is all set to sell ULIPs now via the Web route.

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7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

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.

Mr. V. Viswanand, Senior Director & COO, Axis Max Life Insurance, recently released the news in the press stating, “We are proud of our success at online sales of term products and hope to experience greater accomplishment upon launching ULIP products including a pension product.”

He further added, “Due to our popular customer demand we are compelled to launch ULIPs online, and will be selling exclusively to customers who have previously purchased term plans from us. We expect the online sales to grow with time, with new customers adding to our portfolio. With digital marketing and sales rapidly gaining popularity, it makes absolute sense to fuel the growth of online sales channel to extract its benefits in the next decade. We shall be following the stringent rules laid down by IRDA for distance marketing,”

Currently, Axis Max Life Insurance is clocking 1,500-2,000 term policies monthly via online sales.

In April 2011, IRDA issued distance marketing guidelines to safeguard interests of policy holders and insurers though the electronic sales channel.

Source: This news was published on April 28, 2015 in thehindubusinessline.com under the title: Axis Max Life Insurance to get into online sales of ULIPs

†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. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^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.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.