{"uin":"104N118V13","name":"Axis Max Life Smart Secure Plus Plan","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13","insurer":{"slug":"axis-max-life-insurance","name":"Axis Max Life Insurance Limited","url":"https://indiainsurances.com/insurer/axis-max-life-insurance"},"line":"life","category":"term-life","category_name":"Term life","irdai_type":"Product","kind":"product","status":"active","approved_on":"2021-02-26","withdrawn_on":null,"summary":"Axis Max Life Smart Secure Plus Plan is a non-linked non-participating individual pure risk term plan with level or increasing cover, a minimum base Sum Assured of Rs. 20,00,000 and cover up to age 85. It accelerates up to Rs. 1 Crore on terminal illness and offers optional Return of Premium, Accidental Death, Joint Life, Premium Break and Sum Assured top-up options.","analysis":{"state":"extracted","analysed_at":"2026-10-16 07:12:01.08262+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":["Return of Premium Option","Other than the Return of Premium Option"],"display":"With or without the Return of Premium Option","note":"Surrender, paid-up, loan and maturity rules differ between the two; the Return of Premium variant costs extra premium and the prospectus says it makes the product a non-linked non-participating individual life insurance savings plan. Within each, the buyer also picks a Cover Option (Level Cover or Increasing Cover) and a premium payment variant (Single, Limited, Regular or Pay Till 60).","quote":"“Return of Premium Option” means the option available under the Policy to be chosen by You at the time of Date of Inception of Policy ... a) Under Return of Premium Option: ... b) Other than the Return of Premium Option: ... There is a Return of Premium variant available under this product which is available at policy inception and cannot be selected at later stage during the policy term.","sources":[{"clause":"48","heading":"“Return of Premium Option”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-48"},{"clause":"3.7(a)","heading":"Under Return of Premium Option","page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-7-a"},{"clause":"3.7(b)","heading":"Other than the Return of Premium Option","page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-7-b"},{"clause":null,"heading":"Return of Premium variant","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-return-of-premium-variant"}],"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":"10 to 67 years for the base cover (47 years maximum for point of sale policies; 50 years maximum with the Return of Premium Option).","display":"10 to 67 years","note":"POS (point of sale) policies: maximum 47 years. Return of Premium Option: maximum 50 years (47 for POS). Minimum term depends on premium paying term: 15 years for 10 pay, 17 for 12 pay, 20 for 15 pay; Pay Till 60 term must exceed its premium paying term.","quote":"Base Cover | 10 Years | For Non – POS: 67 Years For POS: 47 years ... In case the Return of Premium Option has been chosen by You, maximum Policy Term for base death benefit and Accidental Death benefit option shall in no case exceed 50 Years from the Date of Commencement of Risk. ... *For Return of Premium (ROP) variant, maximum policy term for both Base Cover and Accident Cover will be 50 years for Non- POS and 47 years for POS.","sources":[{"clause":"Section C","heading":"Plan at a Glance","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-section-c"},{"clause":"1.3.2","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-3-2-3"}],"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 tell the insurer, with the necessary documents, at the earliest possible time.","display":"At the earliest possible time","note":null,"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","sources":[{"clause":"3.5","heading":null,"page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#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 (death claim application form - form A)","original Policy document","copy of police complaint/ first information report (accident, unnatural or suicidal death)","All medical/ hospital records","post mortem report, autopsy/viscera report and final police investigation report (accident, unnatural or suicidal death)","original/ attested copy of death certificate","self-attested copy of identity proof of the Claimant","employer certificate with complete leave records (Form E)","ITR for last 3 years / GST certificate in case of self employed","attending physician’s statement (Form C) for medical/natural death","NEFT mandate form attested by bank authorities","Bank details of Claimant"],"display":"Claimant's statement, original policy, police report/FIR, medical records, post mortem report, death certificate, ID proof, bank details and others","note":"Death claim list. Terminal Illness claims need a Medical Practitioner's certificate confirming the diagnosis; maturity claims need NEFT form, cancelled cheque and photo ID.","quote":"claimant’s statement in the prescribed form (death claim application form -form A); ... original Policy document; ... a copy of police complaint/ first information report (in the case of death by accident or unnatural death or suicidal death of the Life Insured); ... All medical/ hospital records (including diagnostic records) in case of hospitalisation; ... a copy of duly certified post mortem report, autopsy/viscera report and a copy of the final police investigation report /charge sheet (in the case of death by accident or unnatural death or suicidal death of the Life Insured); ... original/ attested copy of death certificate issued by the local/municipal authority ... a self-attested copy of identity proof of the Claimant including Nominee(s) bearing their photographs and signatures ... employer certificate with complete leave records (Form E); ... ITR for last 3 years / GST certificate in case of self employed; ... in case of a medical/natural death of the Life Insured, the attending physician’s statement (Form C) ... NEFT mandate form attested by bank authorities ... Bank details of Claimant;","sources":[{"clause":"3.1.2","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-2-2"},{"clause":"3.1.3","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-3-2"},{"clause":"3.1.4","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-4"},{"clause":"3.1.5","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-5"},{"clause":"3.1.6","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-6"},{"clause":"3.1.7","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-7"},{"clause":"3.1.12","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-12"},{"clause":"3.1.14","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-14"},{"clause":"3.1.15","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-15"},{"clause":"3.1.16","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-16"},{"clause":"3.1.17","heading":"NEFT mandate form attested by bank authorities","page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-17"},{"clause":"3.1.18","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-18"}],"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 CIS only refers to 'Service TATs in Insurance - Axis Max Life Insurance' for turnaround times; no period is printed.","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":["Death within the waiting period of 90 days for point of sale policies, other than by Accident (refund of premiums only)","Suicide within 12 (Twelve) months from the Date of Commencement of Risk or date of Revival (higher of Surrender Value or premiums paid only)","Suicide or self-inflicted Injury (Accidental Death benefit)","War, terrorism, invasion, act of foreign enemy, hostilities, civil war, riot or civil commotion (Accidental Death benefit)","Taking part in any naval, military or air force operation during peace time (Accidental Death benefit)","Any condition that is pre-existing (Accidental Death benefit)","Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent (Accidental Death benefit)","Alcohol or solvent abuse or taking of drugs, narcotics or psychotropic substances (Accidental Death benefit)","Poison, gas or fumes (Accidental Death benefit)","Service in the armed forces, or any police organization, of any country at war (Accidental Death benefit)","Participation in aviation other than as a fare-paying passenger (Accidental Death benefit)","Taking part in professional sport(s) or any adventurous pursuits or hobbies (Accidental Death benefit)","Nuclear contamination (Accidental Death benefit)"],"display":"Suicide within 12 months; POS 90-day waiting period; Accidental Death benefit exclusions","note":"Items from 'Suicide or self-inflicted Injury' onward apply only to the optional Accidental Death benefit. The 90-day waiting period applies only to point of sale policies. The policy states there are no restrictions on travel or occupation.","quote":"in case the Life Insured dies during the waiting period of 90 days from Date of Commencement of Risk due to any reason other than an Accident, We will refund 100% of the Total Premiums Paid till the date of death of the Life Insured and no other benefit will be payable ... if the Life Insured commits suicide, within 12 (Twelve) months from the Date of Commencement of Risk of Policy or from the date of Revival of this Policy, as applicable, all risks and benefits under this Policy shall cease immediately ... Higher of the Surrender Value as on the date of death or the sum of (Total Premiums Paid ... no Accidental Death benefit shall be payable: ... a) Suicide or self-inflicted Injury ... b) War, terrorism, invasion, act of foreign enemy, hostilities, civil war ... riot or civil commotion ... c) Taking part in any naval, military or air force operation during peace time. ... d) Any condition that is pre-existing ... e) Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent. ... f) Alcohol or solvent abuse or taking of drugs, narcotics or psychotropic substances ... g) Poison, gas or fumes ... h) Service in the armed forces, or any police organization, of any country at war ... i) Participation in aviation other than as a fare-paying passenger ... j) Taking part in professional sport(s) or any adventurous pursuits or hobbies ... k) Nuclear contamination ... There are no restrictions on travel or occupation under this Policy.","sources":[{"clause":"1.1.4(a)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-4-a"},{"clause":null,"heading":"6 SUICIDE EXCLUSION","page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-6-suicide-exclusion"},{"clause":"1.3.9","heading":"Exclusions applicable to Accidental Death benefit","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-3-9"},{"clause":null,"heading":"7 TRAVEL AND OCCUPATION","page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-7-travel-and-occupation"}],"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 to your agent or the customer helpdesk (1860 120 5577, service.helpdesk@axismaxlife.com) or any Axis Max Life office; if the response is unsatisfactory or there is none within 14 days, to the Grievance Redressal Officer (manager.services@axismaxlife.com).","display":"Agent or customer helpdesk first, then the Grievance Redressal Officer after 14 days","note":null,"quote":"All consumer grievances and/or queries may be first addressed to Your agent or Our customer helpdesk as mentioned below: ... Helpline No. – 1860 120 5577, Email: service.helpdesk@axismaxlife.com; or ... b) To any office of Axis Max Life Insurance Limited. ... If Our response is not satisfactory or there is no response within 14 (Fiourteen) days ... Grievance Redressal Officer, Axis Max Life Insurance Limited ... Email: manager.services@axismaxlife.com;","sources":[{"clause":"1.1","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-7"},{"clause":"1.2","heading":"If Our response is not satisfactory or there is no response within 14 (Fiourteen) days","page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-10"},{"clause":"1.2.1","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-1-4"}],"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":"Minimum base death Sum Assured is Rs. 20,00,000; there is no maximum, subject to the Board approved underwriting policy.","display":"Minimum Rs. 20,00,000; no maximum (subject to underwriting)","note":"From the prospectus. Point of sale policies: multiples of Rs. 50,000. Joint Life Secondary Life: minimum Rs. 10,00,000, maximum Rs. 50,00,000. Accident Cover: minimum Rs. 50,000, maximum Rs. 1,00,00,000 and not above three times the Base Death Benefit Sum Assured.","quote":"Minimum Sum Assured | Base Death Benefit Rs. 20,00,000 For Secondary Life, in Joint Life: Rs. 10,00,000 For PoS, the Base Sum Assured shall be in multiples of INR 50,000 Accident Cover Option Minimum: Rs. 50,000 ... No Limit, subject to limits determined in accordance with the Board approved underwriting policy of the Company. For Secondary Life, in Joint Life: Rs. 50,00,000 ... a) Rs. 1,00,00,000. In addition, note that Accident Cover Sum Assured cannot be higher than three times the Base Death Benefit Sum Assured.","sources":[{"clause":"Section C","heading":"Plan at a Glance","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-section-c"},{"clause":null,"heading":"Base Death Benefit","page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-base-death-benefit"},{"clause":"Section C(a)","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-section-c-a"}],"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":"The Guaranteed Death Benefit is the highest of: 10 times the Annualised Premium (1.25 times the single premium for single pay); 105% of Total Premiums Paid; or the Sum Assured on Death under the chosen cover option. It is paid to the claimant and reduced by any Terminal Illness Benefit already paid.","display":"Highest of 10 x annualised premium (1.25 x single premium), 105% of premiums paid, or Sum Assured on Death","note":"Under Increasing Cover the Sum Assured on Death rises 5% a year (simple) up to 200%, until the 21st Policy Year. Point of sale policies: refund of premiums only for non-accidental death in the first 90 days. Optional Accidental Death benefit and Joint Life cover pay extra.","quote":"We will pay “Guaranteed Death Benefit” to the Claimant which will be highest of the following: ... a) For Single Premium Payment Variant – 1.25 times of the sum of single Premium and Underwriting Extra Premium, if any; For all other Premium payment variants – 10 times the sum of Annualised Premium and Underwriting Extra Premium, if any; or ... b) 105% of sum of Total Premiums Paid, Underwriting Extra Premium and loadings for modal premiums, if any, received till the date of death of the Life Insured; or ... c) “Absolute Amount Assured to be Paid on Death” which shall be the Sum Assured on Death payable as per the Cover Option chosen by You. ... In case Terminal Illness Benefit claim has been paid, then the Guaranteed Death Benefit shall be reduced to the extent of the Terminal Illness Benefit already paid. ... increases by a simple rate of 5% per annum at each policy anniversary, subject to maximum of 200% of Sum Assured on Death chosen at inception. The Sum Assured on Death will increase only till completion of 21st Policy Year. ... in case the Life Insured dies during the waiting period of 90 days from Date of Commencement of Risk due to any reason other than an Accident, We will refund 100% of the Total Premiums Paid","sources":[{"clause":"1.1.1","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-1"},{"clause":"1.1.3","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-3"},{"clause":"10(ii)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-10-ii"},{"clause":"1.1.4(a)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-4-a"}],"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":"No maturity benefit, unless the Return of Premium Option was chosen at inception: then 100% of Total Premiums Paid, Underwriting Extra Premiums and modal loadings (base cover and any top-up) is paid on survival.","display":"None, unless Return of Premium Option chosen (100% of premiums paid)","note":"Premiums for Accidental Death benefit, Joint Life secondary life cover and riders are not returned.","quote":"No Maturity Benefit is payable except where Return of Premium Option has been chosen by You at Date of Inception of Policy. ... if the Life Insured survives throughout the Policy Term, 100% of the sum of Total Premiums Paid, Underwriting Extra Premiums and loadings for modal premiums received under the Policy (corresponding to the Guaranteed Death Benefit and any Voluntary Top Sum Assured) will be paid to You, on maturity","sources":[{"clause":"1.4","heading":"MATURITY BENEFIT","page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-4"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"cross-checked","value":"Single pay; limited pay of 5, 10, 12 or 15 years; regular pay for the whole policy term; or Pay Till 60 (60 less age, minimum 16 years).","display":"Single, 5/10/12/15 years, regular (= policy term) or Pay Till 60","note":"Limited pay: Policy Term must exceed the Premium Payment Term by at least 5 years.","quote":"“Single Premium Payment Variant” means where the Premium is received in full in advance of the Date of Commencement of Risk; ... “Limited Premium Payment Variant” means where the Premium Payment Term which is either 5, 10, 12 or 15 years with Policy Term ranging from 10 years to 67 years’ subject to the Policy Term being greater than the Premium Payment Term by at least 5 years ... throughout the Premium Payment Term which is the same as the Policy Term ... “Pay Till 60 Premium Payment Variant” means that the Premium payable to Us during the Premium Payment Term shall be equal to 60 less Age, subject to minimum Premium Payment Term of 16 years.","sources":[{"clause":"55","heading":"“Single Premium Payment Variant”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-55"},{"clause":"26","heading":"“Limited Premium Payment Variant”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-26"},{"clause":"42","heading":"“Regular Premium Payment Variant”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-42"},{"clause":"33","heading":"“Pay Till 60 Premium Payment Variant”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-33"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"cross-checked","value":"85 years (65 years for policies sourced through point of sales person).","display":"85 years","note":"Point of sale policies: 65 years.","quote":"The maximum Age of the Life Insured on the Maturity Date cannot exceed ... For Death/ Terminal Illness Benefit and Accidental Death benefit option is 85 (Eighty-Five) years. ... For policies sourced through point of sales person is 65 (Sixty-Five) years.","sources":[{"clause":"1.3","heading":"The maximum Age of the Life Insured on the Maturity Date cannot exceed","page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-3-11"},{"clause":"1.3.1","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-3-1-2"},{"clause":"1.3.2","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-3-2-3"}],"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":"Suicide within 12 months of risk commencement or revival: all benefits cease and the claimant gets the higher of the Surrender Value or Total Premiums Paid plus modal loadings and underwriting extra premium, if the policy is in force.","display":"Higher of Surrender Value or premiums paid","note":"Also applies for 12 months from a Voluntary Sum Assured Top-Up: the top-up amount is not paid, only its premiums are returned.","quote":"if the Life Insured commits suicide, within 12 (Twelve) months from the Date of Commencement of Risk of Policy or from the date of Revival of this Policy, as applicable, all risks and benefits under this Policy shall cease immediately and We shall only pay the following to the Claimant, provided that the Policy is in force: ... Higher of the Surrender Value as on the date of death or the sum of (Total Premiums Paid plus loadings for modal premiums and Underwriting Extra Premium, if any, paid till the date of death). ... The increased Sum Assured on Death due to Voluntary Sum Assured Top-Up Benefit Option will not be paid as suicide happened within 12 months of increase in Sum Assured on Death.","sources":[{"clause":null,"heading":"6 SUICIDE EXCLUSION","page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-6-suicide-exclusion"}],"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":"Without Return of Premium: an Early Exit Value of 70% x premiums paid x (unexpired term / policy term), acquired immediately for single pay and on completing the premium paying term for limited pay; regular pay has no surrender benefit. With Return of Premium: the higher of the Guaranteed or Special Surrender Value, acquired after two full years' premium (immediately for single pay).","display":"Early Exit Value (no ROP) or Surrender Value after 2 years' premium (ROP)","note":"GSV factors for limited/regular pay: 30% in year 2 rising to 90%; single pay 75% to 90%. Special Exit Value (no ROP, policy term 40 years or more) returns all premiums if surrendered in the 25th/30th policy year or at age 65 to 66.","quote":"a) For Single Premium Payment Variant: immediately after payment of single Premium. ... b) For Limited Premium Payment Variant including Pay Till 60 Variant: Upon completion of Premium Payment Term on receipt of all due Premiums. ... c) Regular Premium Payment Variant: No surrender benefit is applicable or payable. The Early Exit Value shall be determined basis the formula provided below: 70% x (Sum of Total Premium Paid, Underwriting Extra Premium and loadings for modal premiums, if any) x (unexpired Policy Term/ Policy Term). ... b) Limited Premium Payment Variant including Pay Till 60 Premium Payment Variant and Regular Premium Payment Variant: on receipt of two full year Premium. ... The Surrender Value is the higher of Guaranteed Surrender Value or Special Surrender Value.","sources":[{"clause":"1.1.1","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-1-2"},{"clause":"1.2.1","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-1-2"},{"clause":"1.2.2","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-2-3"}],"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":"Only with the Return of Premium Option: once a Surrender Value is acquired, the policy becomes Reduced Paid-Up, with the Sum Assured on Death cut in proportion of premiums paid to premiums payable. Without that option, an Early Exit Value is paid if the policy is not revived.","display":"Reduced Paid-Up (Return of Premium Option only)","note":"No Accidental Death benefit or Secondary Life benefit in Reduced Paid-Up mode. Policy lapses if the reduced paid up sum assured is below Rs. 2500.","quote":"If Return of Premium Option was chosen by You at the Date of Inception of Policy and Policy has acquired a Surrender Value as specified under Clause 1 of Part D, then, in the event of non-payment of the due Premiums by You to Us, on the expiry of the Grace Period, this Policy will not become a Lapsed Policy and by default will continue under Reduced Paid-Up Mode unless revived. ... Reduced Paid-Up Sum Assured= ((Total Premium Paid under base Policy) / (total Premiums payable under base Policy ... b) Other than the Return of Premium Option: If the Policy is not revived within a Revival Period from the due date of first unpaid Premium, an Early Exit Value shall be paid to the You and the Policy shall be terminated.","sources":[{"clause":"1.8","heading":"REDUCED PAID-UP BENEFIT/ NON FORFEITURE OPTIONS","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-8"},{"clause":"1.8.1(a)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-8-1-a"},{"clause":"3.7(b)","heading":"Other than the Return of Premium Option","page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-7-b"}],"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 lapsed policy can be revived within 5 consecutive years from the due date of the first unpaid premium, on written request, evidence of insurability and payment of overdue premiums with interest.","display":"Within 5 years of the first unpaid premium","note":"Revival interest: nil for 0-60 days; RBI Bank Rate + 1% for 61-180 days; RBI Bank Rate + 3% beyond 180 days. Cannot be revived beyond the Policy Term.","quote":"“Revival Period” means a period of 5 (Five) consecutive years from the due date of the first unpaid Premium; ... on receipt of Your written request to revive the Policy by Us; and ... if You produce an evidence of insurability (in form of declaration of health condition and/or relevant medical reports) of Life Insured at Your own cost which is acceptable to Us; and ... on payment of all overdue Premiums (along with the applicable taxes, cesses and levies, if any) to Us with interest fee","sources":[{"clause":"50","heading":"“Revival Period”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-50"},{"clause":"3.1","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-1-2"},{"clause":"3.2","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-2-3"},{"clause":"3.3","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-3-3-2"}],"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":"Yes, only with the Return of Premium Option once the policy has a Surrender Value: minimum Rs. 10,000, maximum 75% of the Surrender Value, interest at RBI Bank Rate plus 3.0% (currently 9.75% p.a.). No loans without that option.","display":"Yes, Return of Premium Option only; up to 75% of Surrender Value","note":"CIS row 14 omits the Return of Premium condition.","quote":"If You have opted for Return of Premium Option and once this Policy has acquired the Surrender Value, then, You will be eligible for grant of loans from Us. ... The minimum amount of loan which can be granted by Us under this Policy is INR 10,000 (Rupees Ten Thousand). In no event shall the maximum amount of loan which can be granted under this Policy during the Policy Term exceed 75% (Seventy-Five percent) of the Surrender Value ... The loan interest rate shall be equal to applicable ‘RBI Bank Rate’ plus 3.0%. The current loan interest rate is 9.75% p.a. compounded annually ... If You have not opted for Return of Premium Option, You are not entitled to any loans under this Policy.","sources":[{"clause":"2.1","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-2-1-2"},{"clause":"2.2","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-2-2-3"},{"clause":"2.5","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-2-5-2"},{"clause":"2.9","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-2-9"}],"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 Waiver of Premium Plus Rider (UIN:104B029V06)","Axis Max Life Critical Illness and Disability Rider (UIN: 104B033V02)"],"display":"Waiver of Premium Plus Rider; Critical Illness and Disability Rider","note":"Not available with Single Pay, the Premium Break Option or point of sale policies. Built-in options for extra premium: Accidental Death benefit, Joint Life Cover, Premium Break, Voluntary Sum Assured Top-Up, Return of Premium.","quote":"A. Axis Max Life Waiver of Premium Plus Rider (UIN:104B029V06) ... B. Axis Max Life Critical Illness and Disability Rider (UIN: 104B033V02) ... v) The rider is not available under the Single Pay PPT of the product.","sources":[{"clause":null,"heading":"Rider","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-rider"}],"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":"The policy cannot be questioned on any ground after 3 years from issuance, risk commencement, revival or rider date, whichever is later; within 3 years it can be questioned for fraud or for incorrect statement of material facts.","display":"Cannot be questioned after 3 years","note":null,"quote":"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","sources":[{"clause":"Section 45","heading":"Policy shall not be called in question on the ground of mis-statement after three years","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#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.","display":"Tax benefits may be available as per prevailing tax laws","note":null,"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.","sources":[{"clause":"2.3","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-2-3-4"}],"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 less proportionate risk premium, stamp duty and medical examination expenses.","quote":"“Freelook” means a period of 30 days beginning from the date of receipt of the Policy, to review the terms and conditions of the Policy.","sources":[{"clause":"6","heading":"FREELOOK CANCELLATION","page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-6-2"}],"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.","quote":"The Grace Period for payment of the premium for this Policy shall be 15 (Fifteen) days where You are paying on a monthly basis and 30 (Thirty) days in all other cases;","sources":[{"clause":"18","heading":"“Grace Period”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-18"}],"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":"18 to 65 years (44 years maximum for Pay Till 60; 55 years maximum for point of sale policies).","display":"18 to 65 years","note":"Age last birthday. Pay Till 60: maximum 44. Point of sale: maximum 55.","quote":"The minimum Age of the Life Insured on the Date of Commencement of Risk should be 18 (Eighteen) years. ... The maximum Age of the Life Insured on the Date of Commencement of Risk should be ... For Single Premium Payment Variant, Regular Premium Payment Variant, Limited Premium Payment Variant - 65 (Sixty-Five) years (except in case of the policies sourced through point of sales person it will be 55 (Fifty-Five) years ... For Pay Till 60 Premium Payment Variant - 44 (Forty-Four) years.","sources":[{"clause":"1.1","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-6"},{"clause":"1.2","heading":"The maximum Age of the Life Insured on the Date of Commencement of Risk should be","page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-9"},{"clause":"1.2.1","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-1-3"},{"clause":"1.2.2","heading":"For Pay Till 60 Premium Payment Variant","page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-2-4"}],"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, monthly","note":"Single premium is also available as a premium payment variant.","quote":"You can pay the Premium annually, semi-annually, quarterly or on monthly basis","sources":[{"clause":"2.2","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-2-2-2"}],"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":["Single Premium Payment Variant","Limited Premium Payment Variant","Regular Premium Payment Variant","Pay Till 60 Premium Payment Variant"],"display":"Single, limited, regular or pay till 60","note":"Chosen at inception and cannot be changed later. Pay Till 60 is a limited term equal to 60 less age (minimum 16 years).","quote":"You shall have a choice between the Single Premium Payment Variant, Limited Premium Payment Variant, Regular Premium Payment Variant or Pay Till 60 Premium Payment Variant for Premium payments. Unless otherwise allowed in the Policy, the Premium payment variant can only be chosen at the Date of Inception of Policy and cannot be changed subsequently.","sources":[{"clause":"2.1","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-2-1"}],"law":[]},{"key":"return_of_premium","label":"Return of premium option","section":"Cover","meaning":"Whether premiums come back if you survive the term, and at what cost. 'No' only when the document says no maturity benefit is payable.","status":"cross-checked","value":"Optional: with the Return of Premium Option, chosen at inception for an additional premium, 100% of Total Premiums Paid, Underwriting Extra Premiums and modal loadings is returned on survival to maturity.","display":"Optional, for extra premium: 100% of premiums returned at maturity","note":"Premiums for Accidental Death benefit, Joint Life secondary life and riders are not returned.","quote":"No Maturity Benefit is payable except where Return of Premium Option has been chosen by You at Date of Inception of Policy. This option cannot be selected at later stage during the Policy Term. Under this option, if the Life Insured survives throughout the Policy Term, 100% of the sum of Total Premiums Paid, Underwriting Extra Premiums and loadings for modal premiums received ... • Return of Premium variant* *on payment of additional premium","sources":[{"clause":"1.4","heading":"MATURITY BENEFIT","page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-4"},{"clause":null,"heading":"Axis Max Life Smart Secure Plus Plan","page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-axis-max-life-smart-secure-plus-plan-2"}],"law":[]},{"key":"payout_options","label":"Payout options","section":"Cover","meaning":"Lump sum, monthly income, or a mix for your family.","status":"cross-checked","value":"The claimant chooses lump sum (the default), monthly income for a fixed 10 years, or part lump sum and part monthly income; outstanding income can be commuted.","display":"Lump sum, monthly income for 10 years, or a mix","note":"Terminal Illness and Accidental Death benefits are paid only as lump sum.","quote":"In case no payout option is selected by the Claimant, then the payout option 1 (lump sum Guaranteed Death Benefit) will be considered as the default payout option: ... b) Payout option 2 – monthly income - monthly payment for a fixed period of 10 years ... c) Payout option 3 – partial Guaranteed Death Benefit plus part monthly income ... the Claimant may commute the outstanding monthly income.","sources":[{"clause":"1.1.2","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-2"},{"clause":"1.1.2(b)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-2-b"},{"clause":"1.1.2(c)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-1-2-c"}],"law":[]},{"key":"terminal_illness","label":"Terminal illness benefit","section":"Cover","meaning":"Whether part of the cover is paid early on diagnosis of a terminal illness.","status":"cross-checked","value":"Yes: on diagnosis of a Terminal Illness (death likely within 6 months), 100% of the Guaranteed Death Benefit, up to Rs. 1 Crore, is paid early with no additional premium; it reduces the death benefit and future premiums are waived.","display":"Yes, 100% of death benefit up to Rs. 1 Crore","note":"Paid once, lump sum only. The policy continues with the reduced death benefit; it ends if the payment equals 100% of the Guaranteed Death Benefit (as in the prospectus example on p. 20). Top-Up sum assured is also accelerated, within the Rs. 1 Crore total.","quote":"is likely to lead to the death of the Life Insured within 6 (Six) months ... upon Diagnosis of Life Insured with a Terminal Illness, during the Policy Term, We will pay 100% of the Guaranteed Death Benefit (subject to maximum of Rs. 1 Crore) as accelerated Terminal Illness Benefit to the Claimant. ... all Premiums (including the Premium for base Policy and optional benefits i.e. Premium Break Option, Joint Life Cover Option and/or Voluntary Sum Assured Top-Up Option) falling due from the date of Diagnosis of Terminal Illness would be waived off ... No additional premium to be paid ... upon payment of the Sum Assured on Death or 100% of the Guaranteed Death Benefit to Claimant;","sources":[{"clause":"61","heading":"“Terminal Illness”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-61"},{"clause":"1.2.1","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-1"},{"clause":"1.2.5","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-5"},{"clause":"Row 3","heading":"Terminal Illness","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-row-3"},{"clause":"5.3","heading":null,"page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-5-3"}],"law":[]},{"key":"increasing_cover","label":"Increasing or life-stage cover","section":"Cover","meaning":"Options to raise cover over time or at marriage or childbirth.","status":"cross-checked","value":"Increasing Cover Option: Sum Assured on Death rises by a simple 5% a year up to 200% of the starting amount, until the 21st Policy Year. Voluntary Sum Assured Top-Up: once, after 1 year, up to 100% more, in multiples of Rs. 10 lakh, if age is 50 or under and the starting Sum Assured is at least Rs. 50 Lacs.","display":"Increasing cover (5% a year to 200%) or one top-up of up to 100%","note":"Top-up not available with Increasing Cover, Premium Break or point of sale policies. No marriage or childbirth option is stated.","quote":"increases by a simple rate of 5% per annum at each policy anniversary, subject to maximum of 200% of Sum Assured on Death chosen at inception. The Sum Assured on Death will increase only till completion of 21st Policy Year. ... Post completion of waiting period of 1 year from the Date of Commencement of Risk and subject to receipt of Your written request and medical and financial underwriting by Us, We may allow You to increase the Sum Assured on Death ... once during the Policy. Such increase in the Sum Assured on Death shall in no case exceed 100% of the Sum Assured on Death as on the Date of Commencement of Risk. ... The Sum Assured on Death can be increased in multiples of Rs.10 lakh only. ... a) the Age of the Life Insured does not exceed 50 years; b) Increasing Cover Option or Premium Break Option have not been opted; ... c) The Sum Assured on Death under the Policy as chosen at Date of Inception of Policy, is equal to or greater than Rs.50 Lacs; and ... Voluntary Sum Assured Top-Up will not be available in case of Policy is sourced as a point of sale policy.","sources":[{"clause":"10(ii)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-10-ii"},{"clause":"1.5.1","heading":null,"page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-5-1"},{"clause":"1.5.2","heading":null,"page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-5-2"},{"clause":"1.5.15","heading":null,"page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-5-15"}],"law":[]},{"key":"waiver_of_premium","label":"Waiver of premium","section":"Cover","meaning":"Whether future premiums stop on disability or critical illness.","status":"cross-checked","value":"Future premiums are waived after a Terminal Illness claim. Waiver on critical illness or disability is available only through the optional Axis Max Life Waiver of Premium Plus Rider.","display":"Built in only after Terminal Illness; otherwise via optional rider","note":"Joint Life: secondary life premium waived on death or Terminal Illness of the Life Insured.","quote":"all Premiums (including the Premium for base Policy and optional benefits i.e. Premium Break Option, Joint Life Cover Option and/or Voluntary Sum Assured Top-Up Option) falling due from the date of Diagnosis of Terminal Illness would be waived off ... A. Axis Max Life Waiver of Premium Plus Rider (UIN:104B029V06): This rider provides waiver of all future premiums under a policy and all other attaching riders on earlier happening of either of the following events provided the base policy and attaching riders are in force: − Critical Illness; or − Dismemberment","sources":[{"clause":"1.2.5","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236#c-1-2-5"},{"clause":null,"heading":"Rider","page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237#c-rider"}],"law":[]},{"key":"medicals","label":"Medical tests","section":"Eligibility","meaning":"Whether medical tests are needed, and at what cover.","status":"not-stated","value":null,"display":null,"note":"Documents mention medical examination costs, underwriting and medical underwriting for the top-up, but give no test requirements or cover thresholds.","quote":null,"sources":[],"law":[]}],"documents":[{"kind":"wording","label":"Policy Contract","pages":26,"fetched_at":"2026-10-16 07:11:47.341217+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SSPP-Policy-Document.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/236"},{"kind":"prospectus","label":"Policy Prospectus","pages":26,"fetched_at":"2026-10-16 07:11:47.341217+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SSPP-Prospectus.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/237"},{"kind":"cis","label":"Customer Information Sheet","pages":5,"fetched_at":"2026-10-16 07:11:47.341217+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SSPP-CIS.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/238"},{"kind":"brochure","label":"Policy Leaflet","pages":8,"fetched_at":"2026-10-16 07:11:47.341217+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SSPP-Leaflet.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13/document/239"}],"versions":[{"uin":"104N118V01","version":null,"approved_on":null},{"uin":"104N118V13","version":null,"approved_on":null}],"where_to_buy":[],"claims_and_complaints":[],"notice":"Information, not advice. 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 Secure Plus Plan (UIN 104N118V13), IndiaInsurances, https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-secure-plus-plan-104n118v13"}