{"uin":"104N122V25","name":"Axis Max Life Smart Guaranteed Pension Plan - Prospectus","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25","insurer":{"slug":"axis-max-life-insurance","name":"Axis Max Life Insurance Limited","url":"https://indiainsurances.com/insurer/axis-max-life-insurance"},"line":"life","category":"pension-annuity","category_name":"Pension and annuity","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"This is a non-linked non-participating single premium individual/group general annuity savings plan with single life and joint life immediate annuity options. It pays a fixed annuity in arrears for life, has no maturity benefit, and the with death benefit options return the Single Premium plus Top Up Premium if any.","analysis":{"state":"machine","analysed_at":"2026-10-20 00:43:09.019297+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"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":"quote-verified","value":["Individual General Annuity Savings Plan","Group General Annuity Savings Plan"],"display":"Individual General Annuity Savings Plan; Group General Annuity Savings Plan","note":null,"quote":"A Non-linked Non-Participating Single Premium Individual General Annuity Savings Plan ... A Non-linked Non-Participating Single Premium Group General Annuity Savings Plan UIN: 104N122V25","sources":[{"clause":null,"heading":"AXIS MAX LIFE INSURANCE LIMITED","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-axis-max-life-insurance-limited-2"},{"clause":null,"heading":"Axis Max Life Smart Guaranteed Pension Plan","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2821#c-axis-max-life-smart-guaranteed-pension-plan"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"For single life immediate annuity options, the policy term runs from commencement of risk till the death of the annuitant. For joint life immediate annuity options, it runs till the death of the last surviving annuitant.","display":"Single life: till death of the annuitant; joint life: till death of the last surviving annuitant","note":null,"quote":"a) In case of ‘Single Life Immediate Annuity for life (without Death Benefit) and ‘Single Life Immediate Annuity for life (with Death Benefit), the period commencing on the Date of Commencement of Risk till the death of the Annuitant; .85whereas; ... b) In case of ‘Joint Life Immediate Annuity for life (without Death Benefit)’ and ‘Joint Life Immediate Annuity for life (with Death Benefit)’, the period commencing on the Date of Commencement of Risk till the death of the last surviving Annuitant.","sources":[{"clause":"19(a)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-19-a"},{"clause":"19(b)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-19-b"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The claimant is required to intimate the insurer about a claim at the earliest possible time along with the necessary documents.","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 either in person or through online mode or Our distribution channel or authorized call centre.","sources":[{"clause":"3.7","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-7-2"}],"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":"quote-verified","value":["Claimant’s statement in the prescribed form (death claim application form -form A)","original Policy document","a copy of death certificate issued by the local/municipal authority (if applicable)","identity proof of the Claimant bearing their photographs and signature","discharge summary / indoor case papers in case death happened due to medical reasons in a hospital","medical booklet / CGHS card details in case of defence and central government personnel","body transfer certificate / embassy documents / postmortem report whichever applicable in case of death in foreign country","complete passport copy in case of death in foreign country","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","the attending physician’s statement (Form C) and the medical records (admission notes, discharge/death summary, test reports, etc.)","NEFT mandate form attested by bank authorities","Bank details of Claimant","any other documents or information required by Us for assessing and approving the claim request","Living Certificate"],"display":"Death claim form, original policy, death certificate, identity proof, medical and foreign-death documents where applicable, insurance and employer details, bank/NEFT documents, ITR/GST certificate where applicable, any other required documents; living certificate for survival benefit","note":"The listed death-claim documents apply for Death Benefit if applicable. For with Death Benefit annuity options, the Living Certificate is required at least 30 days before the end of every 5th Policy Year instead of each Policy Year.","quote":"Claimant’s statement in the prescribed form (death claim application form -form A); ... original Policy document; ... a copy of death certificate issued by the local/municipal authority (if applicable); ... identity proof of the Claimant bearing their photographs and signature; ... discharge summary / indoor case papers in case death happened due to medical reasons in a hospital; ... medical booklet / CGHS card details in case of defence and central government personnel; ... body transfer certificate / embassy documents / postmortem report whichever applicable in case of death in foreign country; ... complete passport copy in case of death in foreign country; ... 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; ... in case of a medical/natural death of the Life Insured, the attending physician’s statement (Form C) and the medical records (admission notes, discharge/death summary, test reports, etc.); ... NEFT mandate form attested by bank authorities; ... Bank details of Claimant; and ... any other documents or information required by Us for assessing and approving the claim request. ... the Annuitant (the Secondary Annuitant in case of death of the Primary Annuitant) to submit to Us a Living Certificate in the format prescribed by Us at least 30 days before the end of each Policy Year.","sources":[{"clause":"3.1.1","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-1"},{"clause":"3.1.2","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-2-2"},{"clause":"3.1.3","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-3-2"},{"clause":"3.1.4","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-4"},{"clause":"3.1.5","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-5"},{"clause":"3.1.6","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-6"},{"clause":"3.1.7","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-7"},{"clause":"3.1.8","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-8"},{"clause":"3.1.9","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-9"},{"clause":"3.1.10","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-10"},{"clause":"3.1.11","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-11"},{"clause":"3.1.12","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-12"},{"clause":"3.1.13","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-13"},{"clause":"3.1.14","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-14"},{"clause":"3.1.15","heading":"Bank details of Claimant; and","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-15"},{"clause":"3.1.16","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-1-16"},{"clause":"3.2.1","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-3-2-1"}],"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 says benefits are payable on submission of satisfactory proof, but it does not state a claim decision or payment time counted from intimation or last document.","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":"quote-verified","value":["no Death Benefit will be payable","No maturity benefit is payable under the Policy.","No Surrender benefit shall be payable","For National Pension System (NPS) subscriber, surrender is not allowed except due to any legal requirements or any specific cause as stipulated by Pension Fund Regulatory and Development Authority","If any Annuity is paid by Us after the date of death of the Annuitant or last surviving Annuitant, as the case may be, but before the date of intimation of death, We shall deduct an amount equal to the total of such Annuity paid from the Death Benefit"],"display":"No death benefit under without-death-benefit options; no maturity benefit; no surrender benefit under without-death-benefit options; NPS surrender restricted; annuity paid after death before intimation is deducted from death benefit","note":"The policy also says suicide is not excluded: the death benefit, as applicable, is payable.","quote":"a) If the Schedule specifies that ‘Single Life Immediate Annuity for life (without Death Benefit)’ or the ‘Joint Life Immediate Annuity for life (without Death Benefit)’ is in force, no Death Benefit will be payable; ... No maturity benefit is payable under the Policy. ... No Surrender benefit shall be payable, in case of you have chosen any of the following Annuity Options.: ... For National Pension System (NPS) subscriber, surrender is not allowed except due to any legal requirements or any specific cause as stipulated by Pension Fund Regulatory and Development Authority ... If any Annuity is paid by Us after the date of death of the Annuitant or last surviving Annuitant, as the case may be, but before the date of intimation of death, We shall deduct an amount equal to the total of such Annuity paid from the Death Benefit","sources":[{"clause":"1.1.1(a)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-a"},{"clause":"1.3","heading":"Maturity Benefit","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-3-2"},{"clause":"1.1","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-2"},{"clause":"1.7","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-7"},{"clause":"1.1.1(c)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-c"}],"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":"quote-verified","value":"Consumer grievances and queries may first be addressed to the agent or Axis Max Life customer helpdesk, or to any office of Axis Max Life Insurance Limited. If the response is not satisfactory or there is no response within 14 days, the complainant may write to the Grievance Redressal Officer.","display":"First agent/customer helpdesk or any Axis Max Life office; then Grievance Redressal Officer if no satisfactory response within 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: ... b) To any office of Axis Max Life Insurance Limited. ... If Our response is not satisfactory or there is no response within 14 (Fourteen) days ... the complainant may file a written complaint with full details of the complaint and the complainant’s contact information to the following official for resolution:\nGrievance Redressal Officer, Axis Max Life Insurance Limited","sources":[{"clause":"1.1","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-4"},{"clause":"1.2","heading":"If Our response is not satisfactory or there is no response within 14 (Fourteen) days","page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-2-5"},{"clause":"1.2.1","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-2-1-2"}],"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":"quote-verified","value":"For annuity options without Death Benefit, no Death Benefit is payable. For with Death Benefit options, the life cover is a lump sum equal to the Single Premium plus Top Up Premium, if any, paid on death of the annuitant for single life or on death of the last surviving annuitant for joint life.","display":"Without Death Benefit: no Death Benefit; with Death Benefit: Single Premium plus Top Up Premium, if any","note":null,"quote":"a) If the Schedule specifies that ‘Single Life Immediate Annuity for life (without Death Benefit)’ or the ‘Joint Life Immediate Annuity for life (without Death Benefit)’ is in force, no Death Benefit will be payable; ... b) If the Schedule specifies that ‘Single Life Immediate Annuity for life (with Death Benefit)’ is in force, We will pay the Claimant a lump sum amount equal to the Single Premium plus Top Up Premium (if any) received and the Policy will terminate. ... c) If the Schedule specifies that ‘Joint Life Immediate Annuity for life (with Death Benefit)’ is in force, then on death of the last surviving Annuitant, We will pay the Claimant a lump sum amount equal to the Single Premium plus Top Up Premium (if any), received and the Policy will terminate.","sources":[{"clause":"1.1.1(a)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-a"},{"clause":"1.1.1(b)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-b"},{"clause":"1.1.1(c)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-c"}],"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":"quote-verified","value":"If the without Death Benefit single life or joint life option is in force, no Death Benefit is payable. If the single life with Death Benefit option is in force, the claimant gets a lump sum equal to the Single Premium plus Top Up Premium, if any, on death of the annuitant; if the joint life with Death Benefit option is in force, this is paid on death of the last surviving annuitant.","display":"Without Death Benefit: none; Single Life with Death Benefit: Single Premium plus Top Up Premium, if any; Joint Life with Death Benefit: same, on death of last survivor","note":"If annuity is paid after the date of death but before intimation of death, it is deducted from the Death Benefit.","quote":"a) If the Schedule specifies that ‘Single Life Immediate Annuity for life (without Death Benefit)’ or the ‘Joint Life Immediate Annuity for life (without Death Benefit)’ is in force, no Death Benefit will be payable; ... b) If the Schedule specifies that ‘Single Life Immediate Annuity for life (with Death Benefit)’ is in force, We will pay the Claimant a lump sum amount equal to the Single Premium plus Top Up Premium (if any) received and the Policy will terminate. ... c) If the Schedule specifies that ‘Joint Life Immediate Annuity for life (with Death Benefit)’ is in force, then on death of the last surviving Annuitant, We will pay the Claimant a lump sum amount equal to the Single Premium plus Top Up Premium (if any), received and the Policy will terminate.","sources":[{"clause":"1.1.1(a)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-a"},{"clause":"1.1.1(b)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-b"},{"clause":"1.1.1(c)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-1-c"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"No maturity benefit is payable under the policy.","display":"No maturity benefit","note":null,"quote":"No maturity benefit is payable under the Policy.","sources":[{"clause":"1.3","heading":"Maturity Benefit","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-3-2"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"This is a single premium product; once the Single Premium is received, no other premium payments are accepted except Top Up Premium.","display":"Single premium; no other premium payments except Top Up Premium","note":null,"quote":"Once the Single Premium has been received no other premium payments will be accepted under the Policy except Top Up Premium.","sources":[{"clause":"5","heading":"PAYMENT OF PREMIUMS","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-5-2"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"There is no stated maximum maturity age. The policy term runs till death of the annuitant for single life options and till death of the last surviving annuitant for joint life options, and the policy has no maturity benefit.","display":"No maximum maturity age; policy runs till death or last survivor’s death","note":null,"quote":"a) In case of ‘Single Life Immediate Annuity for life (without Death Benefit) and ‘Single Life Immediate Annuity for life (with Death Benefit), the period commencing on the Date of Commencement of Risk till the death of the Annuitant; .85whereas; ... b) In case of ‘Joint Life Immediate Annuity for life (without Death Benefit)’ and ‘Joint Life Immediate Annuity for life (with Death Benefit)’, the period commencing on the Date of Commencement of Risk till the death of the last surviving Annuitant. ... No maturity benefit is payable under the Policy.","sources":[{"clause":"19(a)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-19-a"},{"clause":"19(b)","heading":null,"page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-19-b"},{"clause":"1.3","heading":"Maturity Benefit","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-3-2"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"In case of suicide by the annuitant or the secondary annuitant after death of the primary annuitant, the Death Benefit as applicable is payable.","display":"Death Benefit, as applicable, is payable on suicide","note":null,"quote":"In case of Suicide by the Annuitant or the Secondary Annuitant (in case of death of the Primary Annuitant), the Death Benefit (as applicable) in accordance with the Clause 1.1 of Part C shall be payable.","sources":[{"clause":"6","heading":"SUICIDE EXCLUSION","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-6-4"}],"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":"quote-verified","value":"No surrender benefit is payable for the single life or joint life immediate annuity without Death Benefit options. With Death Benefit options acquire surrender value immediately after the end of the free look period; the surrender value is the higher of guaranteed surrender value and special surrender value, each described as 50% of Single Premium plus Top-Up Premium if any, reduced by annuity already paid during the policy year of surrender.","display":"No surrender for without-death-benefit options; with-death-benefit options acquire surrender value after free look, higher of GSV or SSV","note":"For NPS subscribers, surrender is not allowed except for legal requirements or specific PFRDA-stipulated causes.","quote":"No Surrender benefit shall be payable, in case of you have chosen any of the following Annuity Options.: ... The Policy will acquire Surrender Value immediately after the end of Free look period, only for the Single Life Immediate Annuity for life (with Death Benefit) or Joint Life Immediate Annuity for life (with Death Benefit) options. ... The Surrender Value will be higher of the Guaranteed Surrender Value and the Special Surrender Value. ... The Guaranteed Surrender Value will equal to 50% of the sum of (i) Single Premium and (ii) Top-Up Premium, if any, received under this Policy reduced by amount of Annuity already paid during the Policy Year in which Policy is surrendered. ... The Special Surrender Value will be equal to 50% of the sum of Single Premium and Top-Up Premium, if any, received under this Policy reduced by amount of Annuity already paid during the Policy Year in which Policy is surrendered.","sources":[{"clause":"1.1","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-1-2"},{"clause":"1.2","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-2-3"},{"clause":"1.3","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-3-3"},{"clause":"1.4","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-4-2"},{"clause":"1.5","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-5"}],"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":"not-applicable","value":null,"display":null,"note":"This is a single premium annuity policy, so there are no future regular premiums to stop paying and no paid-up continuation question arises.","quote":null,"sources":[],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"not-applicable","value":null,"display":null,"note":"This is a single premium annuity policy with no regular premium lapse and revival period.","quote":null,"sources":[],"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":"quote-verified","value":"Loans are not available under this policy.","display":"No policy loans","note":null,"quote":"You are not entitled to any loans under this Policy.","sources":[{"clause":"2","heading":"LOANS","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-2-6"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"not-stated","value":null,"display":null,"note":"The documents describe top-up and advance annuity options, but do not state any optional life insurance riders.","quote":null,"sources":[],"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":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"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":"quote-verified","value":"Tax benefits may be available as per prevailing tax laws, which are subject to change; the policyholder is advised to consult a tax advisor.","display":"Tax benefits may be available as per prevailing tax laws; consult your tax advisor","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":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-2-3-3"}],"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":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"The group policy also states a 30 (thirty) day free look period from receipt of the Master Policy/Certificate of Insurance.","quote":"within the Freelook period of thirty (30) days beginning from the date of receiving the policy document.","sources":[{"clause":"4.1","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-4-1-2"}],"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":"not-applicable","value":null,"display":null,"note":"This is a single premium annuity policy, so there are no recurring premium due dates for a grace period.","quote":null,"sources":[],"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":"quote-verified","value":"The minimum entry age is 30 years and the maximum entry age is 85 years. The minimum age requirement is not applicable for certain pension proceeds or compulsory annuity cases and NPS family members, QROPS minimum age is 55 years, and there is no maximum entry age for NPS family members or nominees under the insurer’s compulsory annuitizing pension plan.","display":"Minimum 30 years; maximum 85 years","note":"Minimum age requirement is waived where stated in clause 285677 for proceeds from pension accumulation plans, compulsory annuity cases, and NPS family members under the Default Family Income Option.","quote":"The minimum entry Age of the Annuitant on the Date of Commencement of Risk should be 30 (Thirty) years. ... If the Policy has been sourced under QROPS, the minimum Age of the Annuitant on the Date of Commencement of Risk, as per the prevailing His Majesty’s Revenue & Customs (HMRC) regulations shall be 55 (Fifty-Five) years in case of Immediate Annuity option. ... The maximum entry Age of the Annuitant on the Date of Commencement of Risk cannot exceed 85 (Eighty-Five) years. However, there is no limit to the maximum entry Age for issuance of Policy to family members of the subscribers of National Pension System or nominees under Our pension plan, under which annuitizing is compulsory.","sources":[{"clause":"1.2","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-2-4"},{"clause":"1.3","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-3-4"},{"clause":"1.4","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-1-4-3"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Single Premium"],"display":"Single Premium","note":"Top Up Premium may be paid separately, but the base policy premium is received in lump sum.","quote":"“Single Premium” means the premium amount specified in the Schedule and received by Us in lump sum excluding applicable taxes, cesses and levies; ... Once the Single Premium has been received no other premium payments will be accepted under the Policy except Top Up Premium.","sources":[{"clause":"27","heading":"“Single Premium”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-27"},{"clause":"5","heading":"PAYMENT OF PREMIUMS","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-5-2"}],"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":"quote-verified","value":["Single premium"],"display":"Single premium","note":null,"quote":"A Non-linked Non-Participating Single Premium Individual General Annuity Savings Plan ... Once the Single Premium has been received no other premium payments will be accepted under the Policy except Top Up Premium.","sources":[{"clause":null,"heading":"AXIS MAX LIFE INSURANCE LIMITED","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-axis-max-life-insurance-limited-2"},{"clause":"5","heading":"PAYMENT OF PREMIUMS","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-5-2"}],"law":[]},{"key":"annuity_options","label":"Annuity options","section":"Cover","meaning":"Life annuity, joint life, return of purchase price, increasing annuity...","status":"quote-verified","value":["Single Life Immediate Annuity for life (without Death Benefit)","Single Life Immediate Annuity for life (with Death Benefit)","Joint Life Immediate Annuity for life (without Death Benefit)","Joint Life Immediate Annuity for life (with Death Benefit)","Default Family Income Option"],"display":"Single Life Immediate Annuity for life with or without Death Benefit; Joint Life Immediate Annuity for life with or without Death Benefit; Default Family Income Option for NPS","note":"The annuity option once chosen cannot be changed thereafter. The Default Family Income Option is for National Pension System subscribers as described in the policy.","quote":"“Annuity Option” means the annuity option chosen by You and appearing in the Policy Schedule and includes the following:\na) Single Life Immediate Annuity for life (without Death Benefit)\nb) Single Life Immediate Annuity for life (with Death Benefit)\nc) Joint Life Immediate Annuity for life (without Death Benefit); and,\nd) Joint Life Immediate Annuity for life (with Death Benefit). ... Default Family Income Option: If this product is purchased as a default option by government sector employee (National Pension System subscriber) through funds accumulated in his/her National Pension System","sources":[{"clause":"4","heading":"“Annuity Option”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-4"},{"clause":"5.2","heading":"Default Family Income Option","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-5-2-2"}],"law":[]},{"key":"purchase_price_min","label":"Minimum purchase price","section":"Eligibility","meaning":"Smallest lump sum or annuity accepted.","status":"quote-verified","value":"The minimum purchase price is any amount that results in an annuity pay-out of at least Rs. 1000 per month. Minimum annuity limits are Rs. 1,000 monthly, Rs. 3,000 quarterly, Rs. 6,000 half-yearly, or Rs. 12,000 annually.","display":"Any amount generating at least Rs. 1000 per month; minimum annuities Rs. 1,000 monthly, Rs. 3,000 quarterly, Rs. 6,000 half-yearly, Rs. 12,000 annually","note":"From the prospectus. It also says the minimum limits are not applicable for an NPS subscriber purchasing from proceeds of NPS corpus.","quote":"Minimum - The Company will accept any amount till the time it results in an annuity pay-out of at least Rs. 1000 per month. Minimum Limits for Annuities • Monthly – Rs. 1,000 per month • Quarterly - Rs. 3,000 per quarter • Half-yearly - Rs. 6,000 per half year • Annual - Rs. 12,000per annum","sources":[{"clause":null,"heading":"NPS – Default Family Income (option available specifically for National","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2820#c-nps-default-family-income-option-available-speci"}],"law":[]},{"key":"deferment","label":"Deferment period","section":"Cover","meaning":"For deferred plans, how long before income starts.","status":"quote-verified","value":"There is no deferment period stated for this plan; it is an immediate annuity where the annuity starts from the Vesting Date as per the chosen payment mode.","display":"Immediate annuity; annuity starts from Vesting Date","note":null,"quote":"“Immediate Annuity” means an option where the Annuity starts from the Vesting Date as per the payment mode chosen by You;","sources":[{"clause":"12","heading":"“Immediate Annuity”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-12"}],"law":[]},{"key":"annuity_frequency","label":"Payout frequency","section":"Cover","meaning":"Monthly, quarterly, half-yearly, yearly.","status":"quote-verified","value":["annual","semi-annual","quarterly","monthly"],"display":"Annual, semi-annual, quarterly, monthly","note":null,"quote":"The Policy provides annual, semi-annual, quarterly and monthly mode for Annuity payments to the Annuitant.","sources":[{"clause":"15","heading":"“Modal Factor”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824#c-15"}],"law":[]},{"key":"annuity_rate_example","label":"Example annuity rate","section":"Cover","meaning":"An example from the document; rates change with age and over time.","status":"quote-verified","value":"In the prospectus case study, a 65-year-old man with his wife aged 60 buys Joint Life Immediate Annuity for life with death benefit, Single Premium ₹10,00,000 and annual mode, and receives a guaranteed annual payout of ₹ 67,860.","display":"Age 65/60 joint life with death benefit, ₹10,00,000 single premium, annual mode: ₹ 67,860 every year","note":"From the prospectus case study; annuity rates vary by age, option, premium band and rate date.","quote":"Mr. Sharma is a 65-year-old individual ... wife Mrs. Sharma aged 60 years ... Joint Life Immediate Annuity for life (with death benefit) with a Single Premium of ₹10,00,000 ... Annuity mode chosen is annual. ... Mr. Sharma gets a guaranteed payout of ₹ 67,860 every year.","sources":[{"clause":null,"heading":"Case Study - Joint Life Immediate Annuity for life (with death benefit)","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2820#c-case-study-joint-life-immediate-annuity-for-life"}],"law":[]}],"documents":[{"kind":"wording","label":"Axis Max Life Smart Guaranteed Pension Plan - Prospectus - (UIN: 104N122V24)","pages":13,"fetched_at":"2026-10-17 19:42:29+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/104N122V24_Smart%20Guaranteed%20Pension%20Plan_Prospectus_Withdrawn.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2773"},{"kind":"wording","label":"Axis Max Life Smart Guaranteed Pension Plan - Group Policy Document - (UIN: 104N122V24)","pages":19,"fetched_at":"2026-10-17 19:42:31+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/104N122V24_Smart%20Guaranteed%20Pension%20Plan_Grp-Pol-Doc_Withdrawn.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2775"},{"kind":"wording","label":"Axis Max Life Smart Guaranteed Pension Plan - Individual Policy Document - (UIN: 104N122V24)","pages":20,"fetched_at":"2026-10-17 19:42:30+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/104N122V24_Smart%20Guaranteed%20Pension%20Plan_Ind-Pol-Doc_Withdrawn.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2776"},{"kind":"wording","label":"Axis Max Life Smart Guaranteed Pension Plan - Prospectus - (UIN: 104N122V25)","pages":13,"fetched_at":"2026-10-17 19:43:19+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/104_N122_V25_Smart_Guaranteed_Pension_Plan_Prospectus_Withdrawn_9d0f0d4f58.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2820"},{"kind":"wording","label":"Axis Max Life Smart Guaranteed Pension Plan - Group Policy Document - (UIN: 104N122V25)","pages":18,"fetched_at":"2026-10-17 19:43:21+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/104_N122_V25_Smart_Guaranteed_Pension_Plan_Grp_Pol_Doc_Withdrawn_eb346a3cc9.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2821"},{"kind":"wording","label":"Axis Max Life Smart Guaranteed Pension Plan - Individual Policy Document - (UIN: 104N122V25)","pages":20,"fetched_at":"2026-10-17 19:43:20+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/104_N122_V25_Smart_Guaranteed_Pension_Plan_Ind_Pol_Doc_Withdrawn_89a69514c8.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25/document/2824"}],"versions":[{"uin":"104N122V24","version":null,"approved_on":null},{"uin":"104N122V25","version":null,"approved_on":null}],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Axis Max Life Insurance official website","url":"https://www.axismaxlife.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims centre","url":"https://www.axismaxlife.com/claims-centre","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://www.axismaxlife.com/customer-servicing/grievance-redressal","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"renew","kind":"insurer","name":"Pay renewal premium","url":"https://www.axismaxlife.com/cs/pay-online","note":null}],"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 Guaranteed Pension Plan - Prospectus (UIN 104N122V25), IndiaInsurances, https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-guaranteed-pension-plan-prospectus-104n122v25"}