{"uin":"104L128V01","name":"Axis Max Life Smart Term with Additional Returns ULIP","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01","insurer":{"slug":"axis-max-life-insurance","name":"Axis Max Life Insurance Limited","url":"https://indiainsurances.com/insurer/axis-max-life-insurance"},"line":"life","category":"ulip","category_name":"ULIPs (unit-linked plans)","irdai_type":"ULIP","kind":"product","status":"active","approved_on":"2025-02-17","withdrawn_on":null,"summary":"Axis Max Life Smart Term with Additional Returns ULIP is a unit linked non-participating individual life plan with a Life Secure Variant (death benefit is the highest of Sum Assured, 105% of premiums paid or Fund Value) and a 3D Life Secure Variant (lump sum, monthly income of 20% of annual premium for 10 years and funding of 1, 2 or 3 times future premiums). It offers 31 funds, a 5-year lock-in, entry ages 18 to 60, Guaranteed Loyalty Additions, Guaranteed Wealth Boosters and return of mortality, allocation and administration charges.","analysis":{"state":"extracted","analysed_at":"2026-10-16 07:11:59.931752+00","note":"Every stated fact carries a verbatim quote found in the cited clause."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"cross-checked","value":["Life Secure Variant","3D Life Secure Variant","Wealth Variant (Limited Pay/Regular Pay)","Whole Life Variant (only limited pay)"],"display":"Life Secure Variant and 3D Life Secure Variant, each with a Wealth or Whole Life sub-variant","note":"The policy wording calls the sub-variants 'Wealth Sub Variant' and 'Whole Life Sub-Variant'. Critical Illness/Dismemberment funding of premium applies only under the 3D Life Secure Variant. Policy term, maturity age, Loyalty Additions and return of charges differ by sub-variant.","quote":"Product offers two variants ... a) Life Secure Variant - Under this variant, death benefit is defined as highest of Sum Assured or 105% of total premiums paid till the date of death or Total Fund Value as on the date of death. ... b) 3D Life Secure Variant - Under this variant, death benefit includes a Lump Sum benefit payable immediately on death, followed by regular payouts and the total Fund Value at the end of the Policy Term. ... Further, there are two sub-variants under the product as follows-\n• Wealth Variant (Limited Pay/Regular Pay)\n• Whole Life Variant (only limited pay is available in this variant) ... Variant chosen: <<Life Secure/ 3D Life Secure>> Sub-Variant Chosen: <<Wealth / Whole Life >> ... This is applicable only for 3D Life Secure Variant.","sources":[{"clause":"1","heading":"Product offers two variants","page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-1"},{"clause":"1(a)","heading":"Life Secure Variant - Under this variant, death benefit","page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-1-a"},{"clause":"1(b)","heading":null,"page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-1-b"},{"clause":null,"heading":"Nominee","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-nominee"},{"clause":"9(b)(iii)","heading":"Funding of Premium","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-b-iii"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"cross-checked","value":"Minimum 20 years. Maximum 67 years for the Wealth Variant; for the Whole Life Variant the term equals 100 less age at entry.","display":"20 to 67 years (Wealth); 100 minus entry age (Whole Life)","note":"From the prospectus; the policy wording says only that the term is as specified in the Schedule. The prospectus feature list gives the Whole Life term as 20 years to 100 less entry age, while its table says it equals 100 less entry age. The term may be increased once after the lock-in period (not for the Whole Life Sub-Variant).","quote":"Policy Term | Minimum: 20 years Maximum: Wealth Variant: 67 years Whole Life Variant: Policy term is equal to 100 less age at entry ... Whole Life Variant - Only available with Limited Pay option, choose Premium Payment Term from 5 years to 10 years, 12 years or 15 years and the Policy Terms from 20 years to 100 less age at entry years. ... You may avail this facility only once during the Policy Term ... This feature shall not be available for ‘Whole Life Sub-Variant’.","sources":[{"clause":null,"heading":"AXIS MAX LIFE SMART TERM WITH ADDITIONAL RETURNS ULIP AT A GLANCE","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-axis-max-life-smart-term-with-additional-returns-3"},{"clause":"2(b)","heading":null,"page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-2-b"},{"clause":"13.1.1","heading":"You may avail this facility only once during the Policy Term and shall be subject to Our","page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-13-1-1"},{"clause":"13.1.2","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-13-1-2"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"cross-checked","value":"The claimant must intimate the claim with the required documents at the earliest possible time; no fixed number of days is given.","display":"At the earliest possible time","note":"No deadline in days is printed.","quote":"The Claimant is required to intimate Us along with necessary documents as mentioned above, regarding a claim under the Policy, at the earliest possible time either in person or through online mode or Our distribution channel or authorized call centre.","sources":[{"clause":"3.5","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-3-5-2"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"cross-checked","value":["Claimant's statement in the prescribed form (death claim application form -form A)","Original Policy document","Copy of police complaint/ first information report (death by accident, unnatural death or suicide)","Post mortem report, autopsy/viscera report and final police investigation report /charge sheet (death by accident, unnatural death or suicide)","Original/ attested copy of death certificate issued by the local/municipal authority","Discharge summary / indoor case papers if death happened due to medical reasons in a hospital","Medical booklet / CGHS card details for defence and central government personnel","Body transfer certificate / embassy documents / postmortem report and complete passport copy for death in a foreign country","Identity proofs of the Claimants bearing their photographs and signatures","Other life / health insurance details with claim history details","Employer certificate with complete leave records (Form E)","Copy of bank passbook / cancelled cheque of the Claimant","ITR for last 3 years / GST certificate in case of self employed","Critical Illness condition specific medical records and APS (Attending Physician's Statement)","Bank statement of last 2 years of the Life Insured","Maturity claim: cancelled cheque or copy of passbook for NEFT, and a self-attested photo ID proof","Any other documents or information required by Us"],"display":"Death claim form A, original policy, death certificate, police and post mortem reports for unnatural death, ID and bank proofs, and others","note":"Forms can be downloaded from https://www.axismaxlife.com or obtained from any branch. The insurer may waive requirements in a Force Majeure Event.","quote":"a) Claimant’s statement in the prescribed form (death claim application form -form A);\nb) original Policy document;\nc) a copy of police complaint/ first information report (only in the case of death by accident or unnatural death or suicidal death of the Life Insured);\nd) a copy of duly certified post mortem report, autopsy/viscera report and a copy of the final police investigation report /charge sheet (only in the case of death by accident or unnatural death or suicidal death of the Life Insured);\ne) original/ attested copy of death certificate issued by the local/municipal authority (only in the case of death of the Life Insured);\nf) discharge summary / indoor case papers in case death happened due to medical reasons in a hospital;\ng) medical booklet / CGHS card details in case of defence and central government personnel;\nh) body transfer certificate / embassy documents / postmortem report whichever applicable in case of death in foreign country;\ni) complete passport copy in case of death in foreign country;\nj) identity proofs of the Claimants bearing their photographs and signatures (only in case of death of the Life Insured)\nk) other life / health insurance details with claim history details;\nl) employer certificate with complete leave records (Form E);\nm) copy of bank passbook / cancelled cheque of the Claimant;\nn) ITR for last 3 years / GST certificate in case of self employed;\no) Critical Illness condition specific medical records required for which Insured is claiming (For eg-ECG for Heart attack cases & Biopsy for cancer).\np) Duly filled APS (Attending Physician's Statement) stating extent & duration of disability required.\nq) Bank statement of last 2 years of the Life Insured and\nr) any other documents or information required by Us for assessing and approving the claim request. ... a) NEFT a cancelled cheque or copy of passbook with pre-printed name and bank account number, for payout through NEFT (if not provided earlier or in case of any change in details provided earlier)\nb) a self-attested photo ID proof","sources":[{"clause":"3.1.1","heading":"Death claim documents","page":42,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-3-1-1"},{"clause":"3.1.2","heading":"Maturity claim documents","page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-3-1-2-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"not-stated","value":null,"display":null,"note":"The policy wording gives no settlement timeline. The CIS only says: 'For details, refer to \"Service TATs in Insurance - Axis Max Life Insurance\"'.","quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"cross-checked","value":["Suicide within 12 months of risk commencement or revival: only the Fund Value is paid","Critical Illness and Dismemberment diagnosed within the 90-day Waiting Period","Death within 30 days of the Diagnosis (no Critical Illness and Dismemberment benefit)","Lives with any Critical Illness or Dismemberment existing or occurred previously are not offered this product","Suicide or attempted suicide or self-inflicted injury","Assault, criminal offence, illegal activity or breach of law with criminal intent","Any congenital condition","Alcohol or solvent abuse or taking of drugs, narcotics or psychotropic substances not medically prescribed","War, invasion, hostilities, civil war, rebellion, riot or civil commotion, strikes","Flying activity other than as a bona fide passenger, Pilots and Cabin Crew in a licensed scheduled aircraft","Professional sport(s) or hazardous pursuits (diving, racing, martial arts, hunting, mountaineering, parachuting, bungee-jumping)","Nuclear contamination"],"display":"Suicide in the first 12 months (Fund Value only); for the Critical Illness/Dismemberment benefit: 90-day waiting period, death within 30 days, pre-existing conditions, self-injury, crime, congenital conditions, substance abuse, war, aviation, hazardous sports, nuclear","note":"Apart from the suicide clause, all listed exclusions apply only to the Critical Illness and Dismemberment benefit (3D Life Secure Variant); further disease-specific exclusions are in Annexure B. There are no restrictions on travel or occupation.","quote":"If the Life Insured commits suicide, within 12 (Twelve) months from the Date of ... Commencement of Risk or from the Date of Revival of the Policy, as applicable, the Claimant shall be entitled to the Fund Value, as available on the date of intimation of death of the Life Insured and the Policy will terminate. ... “Waiting Period” means a waiting period of 90 (Ninety) days in case of Critical Illness and Dismemberment benefit ... No Critical Illness and Dismemberment benefits shall be payable in the event Critical Illness and Dismemberment Diagnosed within the Waiting Period ... No Critical Illness and Dismemberment benefits shall be payable in the event of death accruing within the 30 days of the Diagnosis. ... Lives with any Critical Illness or Dismemberment existing or occurred previously shall not be offered this product. ... Suicide or attempted suicide or self-inflicted injury, whether Life Insured is medically sane or insane; ... Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent; ... Any congenital condition; ... Alcohol or solvent abuse or taking of drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a registered Medical Practitioner; ... War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes; ... Participation by the Life Insured in any flying activity other than as a bona fide passenger (whether paying or not), Pilots and Cabin Crew in a licensed scheduled aircraft; ... Engaging in or taking part in professional sport(s) or any hazardous pursuits, including but not limited to, diving or riding or any kind of race; underwater activities involving the use of breathing apparatus or not; martial arts; hunting; mountaineering; parachuting; bungee-jumping; ... Nuclear contamination; ... due to any specific disease exclusions as specified in Annexure B of the Policy ... There are no restrictions on travel or occupation under the Policy.","sources":[{"clause":"6.1.1","heading":"If the Life Insured commits suicide, within 12 (Twelve) months from the Date of","page":44,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-1-1"},{"clause":"79","heading":"“Waiting Period”","page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-79"},{"clause":"6.2","heading":"EXCLUSIONS FOR CRITICAL ILLNESS AND DISMEMBERMENT BENEFIT","page":44,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-2-3"},{"clause":"7","heading":"TRAVEL AND OCCUPATION","page":45,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-7-3"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"cross-checked","value":"First write to the agent or the customer helpdesk (Helpline 1860 120 5577, service.helpdesk@axismaxlife.com) or any office. If the response is not satisfactory or there is none within 14 days, complain to the Grievance Redressal Officer (manager.services@axismaxlife.com) or the IRDAI Grievance Call Centre (Bima Bharosa, toll free 155255), then the Insurance Ombudsman.","display":"Customer helpdesk first; Grievance Redressal Officer or IRDAI if no reply in 14 days; then Ombudsman","note":"Ombudsman can be approached if there is no response within 1 month, within 1 year after rejection. The wording's Part G heading oddly reads 'Dispute redressal process under the Rider'.","quote":"All consumer grievances and/or queries may be first addressed by the complainant to the agent or Our customer helpdesk as mentioned below: ... Helpline No. – 1860 120 5577, Email: service.helpdesk@axismaxlife.com, or\nb) Any office of Axis Max Life Insurance Limited. ... If Our response is not satisfactory or there is no response within 14 (Fourteen) days ... Grievance Redressal Officer , Axis Max Life Insurance Limited ... Email: manager.services@axismaxlife.com ... the complainant may approach the Grievance Cell of the IRDAI on the following contact details:\nIRDAI Grievance Call Centre (Bima Bharosa Shikayat Nivaran Kendra) Toll Free No:155255 ... the complainant may approach Insurance Ombudsman","sources":[{"clause":"1.1","heading":null,"page":48,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-14"},{"clause":"1.2","heading":"If Our response is not satisfactory or there is no response within 14 (Fourteen) days","page":48,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-2-10"},{"clause":"1.2.1","heading":null,"page":48,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-2-1-2"},{"clause":"1.2.2","heading":null,"page":48,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-2-2-3"},{"clause":"1.3","heading":null,"page":48,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-3-4"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"cross-checked","value":"Sum Assured is the Annualised Premium times the Cover Multiple chosen at inception. Minimum Cover Multiple is 10 and the minimum Sum Assured on death is Rs. 2,00,000; there is no maximum, subject to the underwriting policy.","display":"Annualised Premium x Cover Multiple (minimum 10); minimum Rs. 2,00,000, no maximum","note":"Minimum and maximum from the prospectus. Under 3D Life Secure Variant the Sum Assured on Death also includes the monthly income payout and 1, 2 or 3 times funding of future premiums. Minimum annualised premium Rs. 20,000 (Rs. 12,000 online/ISNP); the prospectus still prints Rs. 2,00,000 as the minimum sum assured for all channels.","quote":"“Sum Assured at Inception” means the Annualised Premium chosen at Date of Inception of Policy multiplied by the Cover Multiple; ... Wealth Variant | Limited/ Regular pay | 10 ... the minimum Sum assured on death under the product is as follows: Limited Pay/Regular Pay: Rs. 2,00,000 ... Maximum Sum Assured | No limit, subject to the limits determined in accordance with the Board approved underwriting policy of the Company. ... The minimum annualized premium is Rs. 20,000 per annum The minimum annualized premium shall be Rs. 12,000 for policies purchased via online channel or Insurance Self Network Platform (ISNP). ... Additionally, under ‘3D Life Secure Variant’, Sum Assured on Death also includes a monthly income payout and <<one/two/three>> (<<1/2/3>>) times funding of future outstanding premium, if any;","sources":[{"clause":"66","heading":"“Sum Assured at Inception”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-66"},{"clause":null,"heading":"AXIS MAX LIFE SMART TERM WITH ADDITIONAL RETURNS ULIP AT A GLANCE","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-axis-max-life-smart-term-with-additional-returns-3"},{"clause":"67","heading":"“Sum Assured” or “Sum Assured on Death”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-67"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"cross-checked","value":"Life Secure Variant: the highest of Sum Assured on Death, 105% of Total Premiums Paid (both reduced by partial withdrawals in the two years before death), or the Fund Value. 3D Life Secure Variant: a lump sum (higher of Sum Assured at Inception or 105% of Total Premiums Paid), plus an income of 20% of the Annualised Premium every month for 10 years, plus funding of 1, 2 or 3 times all future premiums, with the Fund Value paid at the end of the Policy Term.","display":"Life Secure: highest of Sum Assured, 105% of premiums paid or Fund Value. 3D Life Secure: lump sum + 20% of annual premium monthly for 10 years + 1/2/3x future premiums funded, Fund Value at maturity","note":"Under 3D Life Secure the policy continues after death to the end of the term; Switches, Partial Withdrawals, Surrender etc. are not allowed then. No Settlement Option for the death benefit. If death occurs during Discontinuance in the lock-in period, only the Discontinuance Policy Fund value is paid.","quote":"i) For ‘Life Secure Variant’: The Death Benefit payable shall be the highest of the following benefits: ... a) Sum Assured on Death reduced by the sum of Partial Withdrawals (except smart withdrawals) made during the two years’ period immediately preceding the death of the Life Insured, if any; or ... b) 105% of Total Premiums Paid till date of death of Life Insured reduced by the sum of Partial Withdrawals (except smart withdrawals) made during the two years’ period immediately preceding the death of the Life Insured, if any; or ... c) the total Fund Value (as on the date of intimation of death of the Life Insured) after adding all charges, other than Fund Management Charge, recovered subsequent to the date of death of the Life Insured. ... ii. For ‘3D Life Secure Variant’: The Death Benefit payable to the Claimant shall be the sum of the following: ... a) Lump Sum benefit: Immediately on the Life Insured’s death, We will pay the higher of the following benefits: ... i) Sum Assured at Inception reduced by applicable Partial Withdrawals ... ii) 105% (Hundred and Five percent) of the Total Premium Paid until the date of death of Life Insured ... b) Income Benefit: We will pay an income benefit equal to 20% of the Annualised Premium every month starting from Policy Anniversary date of every month following or coinciding with the date of death of Life Insured for 10 years; plus ... c) Funding of Premium: We will fund (<<1/2/3>>) <<one/two/three>> times of all the future outstanding Premiums as and when due under the Policy. The Fund Value as on the Maturity Date will be paid at the end of the Policy Term. ... 1. For ‘3D Life Secure Variant’, the Policy will continue even after the death of Life Insured till the end of Policy Term. In this case, following the Life Insured’s death, the Claimant shall not be entitled to exercise Switches, Partial Withdrawals, Premium Re-Direction, Settlement Option or Surrender the Policy. ... 3. Settlement Option will not be provided in respect of Death Benefit payable under either of the Variants. ... In case the Life Insured dies during the period of Discontinuance, We shall pay the proceeds of the Discontinuance Policy Fund as on the date of intimation of death.","sources":[{"clause":"1.1.1(i)","heading":"For ‘Life Secure Variant’","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-i"},{"clause":"1.1.1(a)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-a"},{"clause":"1.1.1(b)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-b"},{"clause":"1.1.1(c)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-c"},{"clause":"1.1.1(a)","heading":"Lump Sum benefit","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-a-2"},{"clause":"1.1.1(a)(i)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-a-i"},{"clause":"1.1.1(a)(ii)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-a-ii"},{"clause":"1.1.1(b)","heading":"Income Benefit","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-b-2"},{"clause":"1.1.1(c)","heading":"Funding of Premium","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-c-2"},{"clause":"1.1.10","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-10"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"cross-checked","value":"The Fund Value on the Maturity Date, or in instalments over up to 5 years if the Settlement Option is chosen. Under the Wealth Sub Variant applicable charges are also returned. Under 3D Life Secure, if the Life Insured has died, the Fund Value is paid at the end of the term.","display":"Fund Value on the Maturity Date","note":"Fund Value includes Guaranteed Loyalty Additions (last 5 policy years for Wealth), Guaranteed Wealth Boosters of 3% of Fund Value every 5th year from year 20, and Return of Charges, if all premiums are paid. Not guaranteed; market-linked.","quote":"Upon maturity, if the Life Insured is alive (except where the ‘3D Life Secure Variant’ has been opted) and the Policy is in force or if this Policy is a Paid-Up Policy, then, We will pay the Fund Value applicable on the Maturity Date to You, unless You have opted for the Settlement Option. ... In case You have chosen the ‘Wealth Sub Variant’, in addition to the above, We will also return the applicable charges as per Clause 1.4 of Part C. ... for a maximum period of 5 (Five) years from the Maturity Date ... The Fund Value as on the Maturity Date will be paid at the end of the Policy Term. ... a) In the case of ‘Wealth Sub Variant’, Guaranteed Loyalty Additions will be credited to the Fund Value during the last 5 Policy Years at the end of the Policy Year. ... Guaranteed Wealth Boosters will be credited at the end of every 5th Year starting from the 20th Policy Year till the end of the Policy Term. ... A Guaranteed Wealth Booster of 3% will be applied on the total Fund Value at the end of the respective Policy Year.","sources":[{"clause":"1.3","heading":"Maturity Benefit","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-3"},{"clause":"11.1.1","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-11-1-1"},{"clause":"1.1.1(c)","heading":"Funding of Premium","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-1-c-2"},{"clause":"1.5.2","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-5-2"},{"clause":"1.6.1","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-6-1"},{"clause":"1.6.2","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-6-2"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"cross-checked","value":"Wealth Variant: Limited Pay 5 to 10, 12 or 15 years; Regular Pay equal to the Policy Term (20 to 67 years). Whole Life Variant: Limited Pay only, 5 to 10, 12 or 15 years.","display":"Limited Pay 5 to 10, 12 or 15 years; Regular Pay 20 to 67 years (Wealth only)","note":"From the prospectus. The Premium Payment Term can be increased or decreased once after the lock-in period, in multiples of one year.","quote":"• Under Limited Pay option choose Premium Payment Term from 5 years to 10 years, 12 years or 15 years and the Policy Terms from 20 years to 67 years.\n• Under Regular Pay option choose Premium Payment Term and Policy Term from 20 years to 67 years. ... b) Whole Life Variant - Only available with Limited Pay option, choose Premium Payment Term from 5 years to 10 years, 12 years or 15 years ... You may avail this facility only once during the Policy Term. ... Any change in Premium Payment Term must always be in multiples of 1 (one) year. ... After completion of Lock in Period, You may be allowed to increase or decrease the Policy Term (in multiples of one Policy Year), or the Premium Payment Term","sources":[{"clause":"2(a)","heading":null,"page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-2-a"},{"clause":"2(b)","heading":null,"page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-2-b"},{"clause":"13.2.2","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-13-2-2-2"},{"clause":"13.2.5","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-13-2-5"},{"clause":"13","heading":"ALTERATION OF POLICY TERM / PREMIUM PAYMENT TERM","page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-13-2"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"cross-checked","value":"Maximum maturity age is 85 years for the Wealth Variant and 100 years for the Whole Life Variant (age last birthday).","display":"85 years (Wealth); 100 years (Whole Life)","note":"From the prospectus. Minimum maturity age is 38 years (Wealth) and 100 years (Whole Life).","quote":"Maximum Maturity Age of the Life Insured (age as on last birthday) | Wealth Variant: 85 years Whole Life Variant: 100 years ... Minimum Maturity Age of the Life Insured (age as on last birthday) | Wealth Variant: 38 years. Whole Life Variant: 100 years.","sources":[{"clause":null,"heading":"AXIS MAX LIFE SMART TERM WITH ADDITIONAL RETURNS ULIP AT A GLANCE","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-axis-max-life-smart-term-with-additional-returns-3"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"cross-checked","value":"If the Life Insured commits suicide within 12 months of the Date of Commencement of Risk or of Revival, the claimant gets only the Fund Value on the date of intimation of death, with charges (other than Fund Management Charges) deducted after death added back, and the policy ends.","display":"Fund Value only, if suicide within 12 months of start or revival","note":null,"quote":"If the Life Insured commits suicide, within 12 (Twelve) months from the Date of ... Commencement of Risk or from the Date of Revival of the Policy, as applicable, the Claimant shall be entitled to the Fund Value, as available on the date of intimation of death of the Life Insured and the Policy will terminate. ... Any charges other than Fund Management Charges recovered subsequent to the date of ... death of the Life Insured shall be added back to the Fund Value as available on the date of intimation of death.","sources":[{"clause":"6.1.1","heading":"If the Life Insured commits suicide, within 12 (Twelve) months from the Date of","page":44,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-1-1"},{"clause":"6.1.2","heading":"Any charges other than Fund Management Charges recovered subsequent to the date of","page":44,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-1-2-2"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"cross-checked","value":"Surrender is allowed any time. Within the 5-year lock-in, the Fund Value less the Discontinuance/Surrender Charge moves to the Discontinuance Policy Fund and is paid at the end of the lock-in period. After the lock-in, the Surrender Value equals the Fund Value. There is no guaranteed surrender value.","display":"Fund Value; paid only after the 5-year lock-in (less discontinuance charge if surrendered in years 1 to 4)","note":"The Discontinuance Policy Fund earns a minimum guaranteed 4% p.a. and carries a 0.50% p.a. fund management charge. Risk cover stops on surrender within the lock-in. A surrendered policy cannot be revived.","quote":"At any time during the Policy Term, You have the right to Surrender the Policy by giving Us a written notice: ... If You Surrender the Policy within the Lock- in Period, We will credit the Fund Value by creation of Units into the Discontinuance Policy Fund after deducting applicable Discontinuance/Surrender Charge and the risk cover under the Policy and any applicable Riders, if any, will cease. ... On the expiry of the Lock- in Period, We will close the Unit Account and the value of Units in the Discontinuance Policy Fund as on that date shall be paid to You and the Policy will terminate. ... If You Surrender the Policy after the completion of the Lock- in Period, We shall close the Unit Account and pay the Surrender Value which is equal to the Fund Value prevailing on the date of receipt of a valid request for Surrender. ... No guaranteed Surrender Value is applicable under this Policy. ... “Lock-in Period” means a period of 5 (Five) consecutive completed years from the Date of Commencement of Risk ... on which a minimum guaranteed interest rate of 4% (Four percent) per annum ... Discontinuance Policy Fund | 0.50% ... No Surrender/Discontinuance charge shall be levied from 5th Policy Year onwards. ... Please note, policy once surrendered, cannot be revived.","sources":[{"clause":"2","heading":"SURRENDER","page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-4"},{"clause":"2.1.1","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-1-1"},{"clause":"2.1.2","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-1-2-2"},{"clause":"2.2.1","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-2-1"},{"clause":"2.2.2","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-2-2-2"},{"clause":"35","heading":"“Lock-in Period”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-35"},{"clause":"21","heading":"“Discontinuance Policy Fund”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-21"},{"clause":null,"heading":"FUND MANAGEMENT CHARGE","page":37,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-fund-management-charge"},{"clause":null,"heading":"Maximum Discontinuance Charges for the policies having Annualized Premium","page":32,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-maximum-discontinuance-charges-for-the-policies"},{"clause":null,"heading":"SURRENDER/DISCONTINUANCE TERMS What happens when you surrender the policy?","page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-surrender-discontinuance-terms-what-happens-when"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"cross-checked","value":"If premiums stop after the 5-year lock-in, the policy becomes a reduced Paid-Up Policy. For Life Secure, the Paid Up Sum Assured is the Sum Assured on Death times premiums paid period over premiums payable period; for 3D Life Secure the lump sum, income and premium funding benefits are reduced in the same ratio. Without revival, the Fund Value is paid at the end of the 3-year Revival Period.","display":"Reduced paid-up cover in proportion to premiums paid (after lock-in only)","note":"Charges continue during the paid-up period; mortality charges are on the reduced Paid-Up Sum Assured. Rider cover ceases. No Guaranteed Loyalty Additions, Wealth Boosters or Return of Charges while paid-up. Within the lock-in, discontinued policies go to the Discontinuance Policy Fund instead (no paid-up cover).","quote":"If the Premium is not received in full by the expiry of the Grace Period, the Policy shall be immediately and automatically converted into a reduced Paid Up Policy with the Paid Up Sum Assured. ... i) For ‘Life Secure Variant’: Sum Assured on Death multiplied by the ratio of the “total period for which Premiums have already been paid” divided by the \"maximum period for which Premiums were originally payable” by You during the Premium Payment Term ... “Paid-Up Policy” means the Policy under which the due Premiums have been discontinued after the completion of the Lock in Period; ... If You do not exercise any of the above options, the Policy will continue to be a reduced Paid-Up Policy and at the end of the Revival Period, We will pay the Fund Value to You and terminate the Policy. ... “Revival Period” means a period of 3 (Three) consecutive years from the date of first unpaid Premium; ... ii) For ‘3D Life Secure Variant’: Sum of the following benefits: ... multiplied by a ratio of “total period for which Premiums have already been paid” to the “maximum period for which Premiums were originally payable ... During this period, the Rider cover, if any, will cease. However, the mortality charges shall be deducted based on the reduced Paid-Up Sum Assured only. ... No Guaranteed Loyalty Additions will be payable if the Policy is a Paid-Up Policy or in Discontinuance mode. ... No Guaranteed Wealth Booster will be payable if the Policy is a Paid-Up Policy or in Discontinuance mode. ... Return of Charges shall not be applicable in case of a Surrender/ Discontinued or reduced paid-up policy ... We will credit the Fund Value, by creation of Units, into the Discontinuance Policy Fund after deducting applicable Discontinuance/Surrender Charge.","sources":[{"clause":"1.2.1","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-2-1"},{"clause":"45(i)","heading":"For ‘Life Secure Variant’","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-45-i"},{"clause":"44","heading":"“Paid-Up Policy”","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-44"},{"clause":"1.2.4","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-2-4"},{"clause":"61","heading":"“Revival Period”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-61"},{"clause":"45(ii)","heading":"For ‘3D Life Secure Variant’","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-45-ii"},{"clause":"45(a)","heading":"Lump Sum Benefit","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-45-a"},{"clause":"1.2.6","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-2-6"},{"clause":"1.5.1","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-5-1"},{"clause":"1.6.1","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-6-1"},{"clause":"1.4.3","heading":"Return of Policy Administration Charges","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-4-3"},{"clause":"1.1.2","heading":null,"page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-2-2"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"cross-checked","value":"A discontinued policy can be revived within the Revival Period of 3 consecutive years from the date of the first unpaid premium, on written request, evidence of insurability and payment of all overdue premiums.","display":"3 years from the first unpaid premium","note":"The prospectus says overdue premiums are collected without interest or fee, though the wording's Revival definition mentions 'other charges or late fee if any'. A surrendered policy cannot be revived. One prospectus passage counts the 3 years from the Date of Discontinuance instead of the first unpaid premium.","quote":"“Revival Period” means a period of 3 (Three) consecutive years from the date of first unpaid Premium; ... a) You give Us a written request to revive the Policy or the Policy along with Rider cover; and\nb) Producing evidence of insurability of the Life Insured (in form of declaration of health condition and/or relevant medical reports) at Your own cost, as per Our Underwriting Policy; and\nc) You pay Us all overdue Premiums in full. ... We shall collect all due and unpaid premiums without charging any interest or fee. ... upon the receipt of all the Premiums due and other charges or late fee if any ... Please note, policy once surrendered, cannot be revived. ... you will have the Revival Period of three years from the Date of Discontinuance to revive your policy","sources":[{"clause":"61","heading":"“Revival Period”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-61"},{"clause":"1.1.6","heading":null,"page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-6"},{"clause":"A.1(b)(i)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-a-1-b-i"},{"clause":"60","heading":"“Revival”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-60"},{"clause":null,"heading":"SURRENDER/DISCONTINUANCE TERMS What happens when you surrender the policy?","page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-surrender-discontinuance-terms-what-happens-when"},{"clause":"A.1","heading":"The Revival Period","page":28,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-a-1"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"cross-checked","value":"No. Loans are not available under the policy.","display":"Not available","note":null,"quote":"You are not entitled to loans under the Policy.","sources":[{"clause":"3","heading":"LOANS","page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-3-6"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"cross-checked","value":["Axis Max Life Critical Illness and Disability Secure Rider (UIN: 104A034V02)","Axis Max Life Smart Ultra Protect Rider (UIN: 104A049V03): Term Booster with Accelerated Terminal Illness, Accidental Death Benefit, Accidental Total and Permanent Disability, Payor Benefit"],"display":"Critical Illness and Disability Secure Rider; Smart Ultra Protect Rider (term booster, accidental death, accidental disability, payor benefit)","note":"From the prospectus; the CIS lists the same two riders. Rider premiums are not part of the base Premium.","quote":"a) Axis Max Life Critical Illness and Disability Secure Rider (UIN: 104A034V02): This rider provides benefit upon diagnosis of any of the critical illnesses covered. ... b) Axis Max Life Smart Ultra Protect Rider (UIN: 104A049V03): This rider provides following rider benefit variants: ... i) Rider benefit variant 1 - Term Booster with Accelerated Terminal Illness ... ii) Rider benefit variant 2 - Accidental Death Benefit ... iii) Rider benefit variant 3 - Accidental Total and Permanent Disability ... iv) Rider benefit variant 4 – Payor Benefit ... Axis Max Life Smart Ultra Protect Rider (UIN: 104A049V03): This rider provides following variants: ... excluding any Rider premiums","sources":[{"clause":"9(a)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-a-11"},{"clause":"9(b)","heading":"Axis Max Life Smart Ultra Protect Rider (UIN","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-b-11"},{"clause":"9(b)(i)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-b-i-2"},{"clause":"9(b)(ii)","heading":"Rider benefit variant 2 - Accidental Death Benefit","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-b-ii-2"},{"clause":"9(b)(iii)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-b-iii-2"},{"clause":"9(b)(iv)","heading":"Rider benefit variant 4 – Payor Benefit","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-b-iv"},{"clause":"Row 7","heading":"Riders opted, if any","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/218#c-row-7"},{"clause":"52","heading":"“Premium”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-52"}],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"cross-checked","value":"Under Section 45, the policy cannot be called in question on any ground after 3 years from the date of issuance, commencement of risk, revival or rider, whichever is later. Within 3 years it can be questioned for fraud or for misstatement of a material fact, with written grounds.","display":"Cannot be questioned after 3 years; within 3 years only for fraud or material misstatement","note":"If repudiated for misstatement (not fraud), premiums collected are refunded within 90 days of repudiation.","quote":"Provisions regarding policy not being called into question in terms of Section 45 of the Insurance Act, 1938 ... No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 yrs from a. the date of issuance of policy or b. the date of commencement of risk or c.the Date of Revival of policy or d. the date of rider to the policy, whichever is later. ... On the ground of fraud, a policy of Life Insurance may be called in question within 3 years ... Life insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of a fact material to expectancy of life of the insured was incorrectly made in the proposal","sources":[{"clause":"Section 45","heading":"Policy shall not be called in question on the ground of mis-statement after three years","page":54,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-section-45"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"cross-checked","value":"Tax benefits may be available as per prevailing tax laws, which are subject to change; consult a tax advisor. GST and other taxes on premiums, charges and benefits are borne by the policyholder.","display":"Tax benefits may be available as per prevailing tax laws","note":"No specific tax section is named.","quote":"Tax benefits may be available as per prevailing tax laws. Tax laws, their interpretation and/or application, including benefits arising thereunder are subject to change. You are advised to consult your tax advisor regarding the tax benefits and liabilities applicable to you. ... including but not limited to Goods and Services Tax (GST) and Income Tax, as applicable, which shall be entirely borne by You","sources":[{"clause":"1.3","heading":null,"page":42,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-3-3"},{"clause":"1.1","heading":null,"page":42,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-1-13"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"cross-checked","value":{"unit":"days","amount":30},"display":"30 days","note":"Refund is the Fund Value on the cancellation date plus non-allocated premium and charges deducted, less proportionate risk premium, medical examination expenses and stamp duty. The leaflet describes the refund as the premium paid (lower priority).","quote":"“Free Look” means a period of thirty (30) days beginning from the date of receipt of the Policy, to review the terms and conditions of the Policy ... You will be entitled to receive the Fund Value as on the date of such cancellation by cancellation of Units and any non-allocated Premium along with the charges already deducted in advance. We will deduct the proportionate risk premium for the period of cover, and the expenses, if any, incurred on medical examination of the Life Insured, and stamp duty charges, from the aforesaid amount. ... the Policyholder shall be entitled to a refund of the premium paid","sources":[{"clause":"10","heading":"FREE LOOK CANCELLATION","page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-10-2"},{"clause":null,"heading":"Variants available under this plan","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/219#c-variants-available-under-this-plan-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"cross-checked","value":{"unit":"days","amount":30},"display":"30 days (15 days for monthly mode)","note":"15 days for monthly premiums. Cover continues and charges apply during the grace period.","quote":"The Grace Period for payment of the Premium for all types of life insurance policies shall be 15 (Fifteen) days, where the Policyholder pays the Premium on a monthly basis and 30 (thirty) days in all other cases; ... During the Grace Period the insurance cover will continue and all charges under the Policy will continue to apply.","sources":[{"clause":"27","heading":"“Grace Period”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-27"},{"clause":"3.1","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-3-1"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"cross-checked","value":"Minimum entry age 18 years and maximum 60 years (age last birthday).","display":"18 to 60 years","note":"From the prospectus.","quote":"Minimum Age of Life Insured at Entry (age as on last birthday) | 18 years ... Maximum Age of Life Insured at Entry (age as on last birthday) | 60 years","sources":[{"clause":null,"heading":"AXIS MAX LIFE SMART TERM WITH ADDITIONAL RETURNS ULIP AT A GLANCE","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-axis-max-life-smart-term-with-additional-returns-3"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"cross-checked","value":["Annually","Semi-annually","Quarterly","Monthly"],"display":"Annual, semi-annual, quarterly or monthly","note":"Mode can be changed from the next Policy Anniversary. Systematic Transfer Plan needs annual mode.","quote":"The Premium can be paid by You annually, semi-annually, quarterly or monthly, as per the Premium payment mode chosen by You. You may change the Premium payment mode by submitting a written request to Us, provided that such change in Premium payment mode will be effective only on the Policy Anniversary following the receipt of such request. ... You may opt to exercise the systematic transfer plan only prior to the Date of Commencement of Risk where You have opted for annual mode for Premium payment","sources":[{"clause":"3.2","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-3-2-2"},{"clause":"2.2.1","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-2-1-2"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"cross-checked","value":["Regular premium","Limited premium"],"display":"Regular pay or limited pay (Whole Life: limited pay only)","note":"No single premium option is described. Top-up premiums are not accepted.","quote":"“Limited Premium Payment Variant” means the variant where the Premium is payable to Us during the Premium Payment Term which is limited compared to the Policy Term ... “Regular Premium Payment Variant” means the variant where the Premium is payable to Us in regular instalments throughout the Premium Payment Term which is the same as the Policy Term ... • Wealth Variant (Limited Pay/Regular Pay)\n• Whole Life Variant (only limited pay is available in this variant) ... We will not accept any additional premium or top-up premium under this Policy.","sources":[{"clause":"34","heading":"“Limited Premium Payment Variant”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-34"},{"clause":"58","heading":"“Regular Premium Payment Variant”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-58"},{"clause":"1(b)","heading":null,"page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-1-b"},{"clause":"3.5","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-3-5"}],"law":[]},{"key":"lock_in","label":"Lock-in period","section":"Renewal and rights","meaning":"Years before you can withdraw. ULIPs have a 5-year lock-in.","status":"cross-checked","value":{"unit":"years","amount":5},"display":"5 years","note":null,"quote":"“Lock-in Period” means a period of 5 (Five) consecutive completed years from the Date of Commencement of Risk, during which period the proceeds of the Policy cannot be paid by Us to You or to the Life Insured, as the case may be, except in the case of death or upon the happening of any other contingency covered under the Policy;","sources":[{"clause":"35","heading":"“Lock-in Period”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-35"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 42","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 54.1 and 54.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.5","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.22 to 1.24","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vii) to (ix)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"funds","label":"Fund options","section":"Cover","meaning":"The investment funds you can choose and their risk.","status":"cross-checked","value":["High Growth Fund (Very High)","NIFTY Smallcap Quality Index (Very High)","Nifty Alpha 50 Fund (Very High)","Nifty 500 Momentum 50 Fund (Very High)","Midcap Momentum Index Fund (Very High)","Nifty Momentum Quality 50 Fund (Very High)","Sustainable Wealth 50 Index Fund (Very High)","Smart Innovation Fund (Very High)","Nifty 500 Multifactor 50 Index Fund (Very High)","BSE 500 Dividend leaders 50 Index Fund (Very High)","High Growth Fund II (Very High)","BSE 500 Value 50 Index Fund II (Very High)","BSE Dividend Stability Index Fund (Very High)","India Sector Leaders Opportunities Fund (Very High)","Rising India Manufacturing Fund (Very High)","Flexi Cap Fund (Very High)","India Consumption Opportunities Fund (Very High)","BSE 500 Value 50 Index Fund (Very High)","Growth Super Fund II (High)","Diversified Equity Fund II (High)","Diversified Equity Fund (High)","Growth Super Fund (High)","Growth Fund (High)","Sustainable Equity Fund (High)","Pure Growth Fund (High)","Balanced Fund (Medium)","Conservative Fund (Low)","Dynamic Bond Fund (Low)","Secure Fund (Low)","Secure Plus Fund (Low)","Money Market II Fund (Low)"],"display":"31 funds, risk from Low to Very High","note":"Risk ratings from the prospectus table. Secure Plus Fund is available only under the Systematic Transfer Plan, Lifecycle and Trigger based strategies; the Discontinuance Policy Fund is used only on discontinuance or surrender in the first five years. Five investment strategies: Self-Managed, Systematic Transfer Plan, Lifecycle Based, Trigger Based and Dynamic Fund Allocation. Default fund on closure or modification is Money Market II Fund.","quote":"you have a range of 31 funds and 5 investment strategies to choose from ... High Growth Fund | Very High ... NIFTY Smallcap Quality Index | Very High ... Nifty Alpha 50 Fund | Very High ... Nifty 500 Momentum 50 Fund | Very High ... Midcap Momentum Index Fund | Very High ... Nifty Momentum Quality 50 Fund | Very High ... Sustainable Wealth 50 Index Fund | Very High ... Smart Innovation Fund | Very High ... Nifty 500 Multifactor 50 Index Fund | Very High ... BSE 500 Dividend leaders 50 Index Fund | Very High ... High Growth Fund II | Very High ... BSE 500 Value 50 Index Fund II | Very High ... BSE Dividend Stability Index Fund | Very High ... India Sector Leaders Opportunities Fund | Very High ... Rising India Manufacturing Fund | Very High ... Flexi Cap Fund | Very High ... India Consumption Opportunities Fund | Very High ... BSE 500 Value 50 Index Fund | Very High ... Growth Super Fund II | High ... Diversified Equity Fund II | High ... Diversified Equity Fund | High ... Growth Super Fund | High ... Growth Fund | High ... Sustainable Equity Fund | High ... Pure Growth Fund | High ... Balanced Fund | Medium ... Conservative Fund | Low ... Dynamic Bond Fund | Low ... Secure Fund | Low ... Secure Plus Fund | Low ... Money Market II Fund | Low ... (This Fund is available only under Systematic Transfer Plan (STP), Lifecycle Based Portfolio Strategy and Trigger Based Portfolio strategy) ... The Discontinuance Policy Fund is available only in case of policy surrender or discontinuance within first five policy years. ... The default fund in the event of closure or modification of fund in future is Money Market II Fund ... 1) Self-Managed Portfolio Strategy\n2) Systematic Transfer Plan (STP)\n3) Lifecycle Based Portfolio Strategy\n4) Trigger Based Portfolio Strategy\n5) Dynamic Fund Allocation (DFA) strategy","sources":[{"clause":null,"heading":"CHOICE OF INVESTMENT STRATEGIES AND INVESTMENT FUNDS","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-choice-of-investment-strategies-and-investment-f"},{"clause":null,"heading":"Investment Mix of the Funds (in %)","page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-investment-mix-of-the-funds-in"},{"clause":null,"heading":"Investment Mix of the Funds (in %)","page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-investment-mix-of-the-funds-in-2"},{"clause":"9(z)","heading":"Balanced Fund (SFIN","page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-9-z"},{"clause":null,"heading":"Discontinuance Policy Fund (SFIN: ULIF002021/06/13LIFEDISCON104)","page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-discontinuance-policy-fund-sfin-ulif002021-06-13"},{"clause":null,"heading":"Step 3: Choose your Investment Strategy and Investment Funds","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-step-3-choose-your-investment-strategy-and-inves"}],"law":[]},{"key":"premium_allocation_charge","label":"Premium allocation charge","section":"Charges","meaning":"Part of each premium taken before investing.","status":"cross-checked","value":"7% of premium in policy year 1 and 6% in policy years 2 to 4; nil from year 5. Female policyholders get a 0.50% lower charge in year 1. 200% of these charges is added back at the end of policy years 10 to 13 if all premiums are paid.","display":"7% (year 1), 6% (years 2 to 4), nil thereafter","note":null,"quote":"The Premium Allocation Charge is applicable only for the initial four Policy Years and NIL thereafter. The Premium Allocation Charge is as follows:\nPolicy Year | Allocation Charge\n1 | 7%\n2 | 6%\n3 | 6%\n4 | 6%\nFor Female Policyholders, there will an additional reduction in first Policy Year Premium Allocation Charge by 0.50%. ... At the end of the 10th,11th,12th and 13th Policy Years, 200% of the total Premium Allocation Charges, deducted over the Policy Years 1,2,3 and 4 respectively, shall be added back as return of Premium Allocation Charge to the Fund Value.","sources":[{"clause":"5.1.1","heading":"Premium Allocation Charge","page":37,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-1-1"},{"clause":"1.4.2","heading":"Return of Premium Allocation charges","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-4-2"}],"law":[]},{"key":"policy_admin_charge","label":"Policy administration charge","section":"Charges","meaning":"Monthly charge deducted from your fund.","status":"cross-checked","value":"From the 5th policy year, 0.41% of the Annualised Premium each month, rising 5% a year compounded, capped at Rs. 500 a month. 300% of these charges is added back at maturity or at the end of policy year (85 minus entry age), whichever is earlier, if all premiums are paid.","display":"0.41% of annualised premium a month from year 5, rising 5% a year, max Rs. 500 a month","note":"The prospectus heads this charge 'Policy Administration Charge (All Years)' and also says it is levied 'starting from the date of commencement of Policy', while stating it is deducted starting 5th policy year.","quote":"This charge is levied for administration of this Policy starting from 5th Policy Year will be equal to 0.41% of Annualised Premium on each Monthly Anniversary by cancelling an appropriate number of Units in the Unit Account at the prevailing NAV. The Policy Administration Charge will inflate by 5% per annum compounded annually subject to a maximum of Rs.500/- (Rupees Five Hundred) per month. ... We will add 300% of Policy Administration Charges to the Fund Value on Maturity Date or at end of Policy Year (85 minus Age at entry), whichever is earlier. ... Policy Administration Charge (All Years) ... This charge will be levied at each monthly anniversary by cancelling Units from the Unit Account starting from the date of commencement of Policy.","sources":[{"clause":"5.1.3","heading":"Policy Administration Charge","page":38,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-1-3"},{"clause":"1.4.3","heading":"Return of Policy Administration Charges","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-4-3"},{"clause":null,"heading":"2. Policy Administration Charge (All Years)","page":30,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-2-policy-administration-charge-all-years"}],"law":[]},{"key":"fund_management_charge","label":"Fund management charge","section":"Charges","meaning":"Yearly charge on fund value; capped at 1.35% by IRDAI.","status":"cross-checked","value":"0.90% to 1.35% a year of fund value depending on the fund (e.g. 1.25% High Growth Fund, 1.35% High Growth Fund II, 1.10% Balanced Fund, 1.00% Nifty Smallcap Quality Index Fund, 0.90% debt funds); 0.50% for the Discontinuance Policy Fund.","display":"0.90% to 1.35% p.a. by fund; 0.50% Discontinuance Policy Fund","note":"Most equity funds are 1.25% or 1.35% (NIFTY Smallcap Quality Index Fund 1.00%); Balanced 1.10%; debt and money market funds 0.90%. Levied through the NAV on each Valuation Date and does not change during the Policy Term.","quote":"High Growth Fund | 1.25% ... Nifty Smallcap Quality Index Fund | 1.00% ... High Growth Fund II | 1.35% ... Balanced Fund | 1.10% ... Conservative Fund | 0.90% ... Secure Fund | 0.90% ... Money Market II Fund | 0.90% ... Dynamic Bond Fund | 0.90% ... Discontinuance Policy Fund | 0.50% ... calculated as a percentage of the Fund Value and appropriated by adjusting the NAV. The Fund Management Charge shall be levied on each Valuation Date throughout the Policy Term and shall not change during the Policy Term","sources":[{"clause":null,"heading":"FUND MANAGEMENT CHARGE","page":37,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-fund-management-charge"},{"clause":"25","heading":"“Fund Management Charge”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-25"}],"law":[]},{"key":"mortality_charge","label":"Mortality charge","section":"Charges","meaning":"Cost of life cover, deducted monthly by age.","status":"cross-checked","value":"Deducted every Monthly Anniversary on the Sum at Risk, by attained age, per the table: e.g. per 1000 Sum at Risk 0.87 (male, age 18), 1.68 (male, age 40), 4.44 (male, age 50), 397.73 (male, age 100); female rates equal male rates with a three-year age offset. Extra charges may apply as per underwriting. From the 16th policy year, 200% (years 16 to 25) and 300% (from year 26) of the charges deducted 180 months earlier are returned to the fund.","display":"Monthly, per 1000 Sum at Risk by attained age (e.g. 0.87 at 18, 4.44 at 50 for males); returned from year 16","note":"3D Life Secure also carries a Morbidity Charge for the Critical Illness/Dismemberment benefit (separate table; not applicable to Life Secure). The return of charges applies only while the Life Insured is alive (except under 3D Life Secure) and all due premiums are paid; for the Whole Life sub-variant it runs till age 85.","quote":"Mortality Charge per 1000 Sum at Risk for calculating the Mortality Charge on Death Benefit (excluding GST & extra mortality charge) ... 18 | 0.87 | 0.7 | 60 | 11.16 | 8.93 ... 40 | 1.68 | 1.36 | 82 | 75.35 | 56.23 ... 50 | 4.44 | 3.17 | 92 | 197.38 | 148.64 ... 58 | 9.65 | 7.51 | 100 | 397.73 | 309.66 ... *In the table above, the Mortality Charges for females are equal to the rates for males with a three-year Age off set. ... a proportionate mortality charge shall be levied by Us on the basis of ‘Sum at Risk’ on every Monthly Anniversary ... Please note that We may charge extra Mortality Charge on Death Benefit from You based on Our Underwriting Policy. ... From the start 16th Policy Year to the end of 25th Policy Year | 200%\nFrom the start of 26th Policy Year | 300% ... 180 preceding Policy month ... “Morbidity Charge on Critical Illness/Dismemberment Benefit” means a charge levied by Us on every Monthly Anniversary ... For ‘Life Secure Variant’: Not applicable. ... If the Life Insured is alive (except where the ‘3D Life Secure Variant’ has been opted) and all due Premiums have been received by Us ... For Whole Life Sub-Variant: from the start of 16th Policy Year till the Life Insured attaining 85 years of Age.","sources":[{"clause":"5.1.11","heading":"Mortality Charge","page":38,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-1-11"},{"clause":null,"heading":"Proportion of","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-proportion-of"},{"clause":"1.4.1","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-1-4-1"},{"clause":"39","heading":"“Morbidity Charge on Critical Illness/Dismemberment Benefit”","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-39"},{"clause":"69","heading":null,"page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-69"}],"law":[]},{"key":"discontinuance_charge","label":"Discontinuance charge","section":"Charges","meaning":"Charge if you stop paying in the first five years.","status":"cross-checked","value":"For annualised premium up to Rs. 50,000: lowest of 20% of annualised premium, 20% of fund value or Rs. 3,000 in year 1; 15%/15%/Rs. 2,000 in year 2; 10%/10%/Rs. 1,500 in year 3; 5%/5%/Rs. 1,000 in year 4. Above Rs. 50,000: 6%/6%/Rs. 6,000; 4%/4%/Rs. 5,000; 3%/3%/Rs. 4,000; 2%/2%/Rs. 2,000. Nil from year 5.","display":"Year 1 max Rs. 3,000 (AP up to Rs. 50,000) or Rs. 6,000 (above); falling to nil from year 5","note":"Columns are percentage of Annualised Premium, percentage of Fund Value and a fixed amount; the lowest applies. The wording table is garbled in extraction; the prospectus table gives the same figures.","quote":"Up to Rs. 50,000/- is lowest of: | Above Rs. 50,000/-, is lowest of: ... 1st Policy Year | 20% | 20% | 3,000 | 6% | 6% | 6,000\n2nd Policy Year | 15% | 15% | 2,000 | 4% | 4% | 5,000\n3rd Policy Year | 10% | 10% | 1,500 | 3% | 3% | 4,000\n4th Policy Year | 5% | 5% | 1,000 | 2% | 2% | 2,000\n5 | th and onward | s | Nil | Nil | Nil | Nil | Nil | Nil ... 1 | 20% | 3000 | 6% | 6000","sources":[{"clause":"5.1.12(i)","heading":null,"page":39,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-1-12-i"},{"clause":null,"heading":"Premium","page":40,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-premium"},{"clause":null,"heading":"Maximum Discontinuance Charges for the policies having Annualized Premium","page":32,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217#c-maximum-discontinuance-charges-for-the-policies"}],"law":[]},{"key":"switches_withdrawals","label":"Switches and partial withdrawals","section":"Renewal and rights","meaning":"Free fund switches and withdrawals after lock-in.","status":"cross-checked","value":"Switches: unlimited and free, minimum Rs. 500 per switch. Partial withdrawals: free, from the 6th policy year, minimum Rs. 5,000, up to 12 a year, Life Insured at least 18, fund value after withdrawal at least two Annualised Premiums. Smart withdrawals (regular percentage of fund value) are free and start after 10 policy years or the end of the Premium Payment Term, whichever is later.","display":"Unlimited free switches (min Rs. 500); free partial withdrawals from year 6 (min Rs. 5,000, up to 12 a year)","note":"Switches and premium redirection are not allowed under the Lifecycle, Trigger based or Dynamic Fund Allocation strategies or the Systematic Transfer Plan, nor during discontinuance. Partial withdrawals in the two years before death reduce the Sum Assured; smart withdrawals do not. Partial withdrawal total is also limited by the underwriting policy. The leaflet adds that partial withdrawals need all premiums for the first 5 policy years paid; the settlement option clause mentions 'applicable Switching charges' although all switches are free.","quote":"provided that the minimum amount to be Switched is at least Rs. 500/- (Rupees Five Hundred). ... You may Switch any number of times without any charges. ... The amount to be withdrawn is at least Rs. 5,000 (Rupees Five Thousand); ... If Life Insured is at least 18 years of age at the date of request. ... You may make upto 12 (Twelve) Partial Withdrawals in a Policy Year such that the total Fund Value Withdrawn is not more than the limit prescribed by Us as per the Underwriting Policy as updated from time to time and subject to the Fund Value immediately after the Partial Withdrawal(s) being at least equal to two Annualised Premiums; ... You shall not be allowed to make any Partial Withdrawal before the commencement of the 6th (Sixth) Policy Year ... Partial Withdrawal Charge: Partial Withdrawals are free of any charge ... The smart withdrawal may be made only after completion of 10 Policy Years or at the end of ... Premium Payment Term, whichever is later, as chosen by You; ... Smart Withdrawal Charge: Smart withdrawals are free of any charge ... Switches will not be allowed during the period of Discontinuance. ... You shall not be allowed to redirect Premiums and effect Switching of Units during the period when ‘Systematic Transfer Plan’ is in force. ... No Switches or Premium Redirections would be allowed under this strategy. ... You shall not be permitted to make Premium Redirections or Switch Units between the Funds ... Partial withdrawal is allowed 6th policy year onwards, provided all due premiums for first 5 policy years have been paid. ... You may Switch Units between the Funds upon which applicable Switching charges will be deducted","sources":[{"clause":"5.1","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-1"},{"clause":"5.2","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-2-2"},{"clause":"6.2","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-2-2"},{"clause":"6.3","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-3"},{"clause":"6.4","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-4"},{"clause":"6.6","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-6"},{"clause":"6.5","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-6-5"},{"clause":"5.1.6","heading":"Partial Withdrawal Charge: Partial Withdrawals are free of any charge","page":38,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-1-6"},{"clause":"7.1.3","heading":"The smart withdrawal may be made only after completion of 10 Policy Years or at the end of","page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-7-1-3"},{"clause":"5.1.8","heading":"Smart Withdrawal Charge: Smart withdrawals are free of any charge","page":38,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-1-8"},{"clause":"5.3","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-5-3-2"},{"clause":"2.2.4","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-2-4-2"},{"clause":"2.3.7","heading":null,"page":33,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-3-7"},{"clause":"2.5.3","heading":"You shall not be permitted to make Premium Redirections or Switch Units between the Funds","page":35,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-2-5-3"},{"clause":null,"heading":"WINNING BHAROSA","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/219#c-winning-bharosa"},{"clause":"11.1.3","heading":"During the period when the Settlement Option is in force","page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216#c-11-1-3"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Contract","pages":56,"fetched_at":"2026-10-16 07:11:45.976355+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/STAR_ULIP_Policy_Document_f70a315c46.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/216"},{"kind":"prospectus","label":"Policy Prospectus","pages":41,"fetched_at":"2026-10-16 07:11:45.976355+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/STAR_ULIP_Prospectus_cf95979376.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01/document/217"},{"kind":"cis","label":"Customer Information Sheet","pages":5,"fetched_at":"2026-10-16 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IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Axis Max Life Smart Term with Additional Returns ULIP (UIN 104L128V01), IndiaInsurances, https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-with-additional-returns-ulip-104l128v01"}