{"uin":"104N124V17","name":"Axis Max Life Smart Wealth Advantage Guarantee Plan","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17","insurer":{"slug":"axis-max-life-insurance","name":"Axis Max Life Insurance Limited","url":"https://indiainsurances.com/insurer/axis-max-life-insurance"},"line":"life","category":"savings-life","category_name":"Endowment and savings plans","irdai_type":"Product","kind":"product","status":"active","approved_on":"2022-09-29","withdrawn_on":null,"summary":"Axis Max Life Smart Wealth Advantage Guarantee Plan is a non-linked non-participating individual savings plan with five variants: Wealth For Milestones, Regular Wealth, Long Term Wealth, Early Wealth and Lifelong Wealth. Death cover is 11 times the annualised premium (1.25 or 10 times for single pay), with an extra 50% on accidental death after the premium term, and benefits are guaranteed.","analysis":{"state":"extracted","analysed_at":"2026-10-16 07:12:02.232554+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":["Wealth For Milestones","Regular Wealth","Long Term Wealth","Early Wealth","Lifelong Wealth"],"display":"Wealth For Milestones, Regular Wealth, Long Term Wealth, Early Wealth, Lifelong Wealth","note":"Variant is chosen at inception and cannot be changed. Each variant also has premium payment variants (single, limited or regular pay).","quote":"“Policy Variants” means the ‘Wealth For Milestones Variant’, ‘Regular Wealth Variant’ or ‘Long Term Wealth Variant’ or ‘Early Wealth Variant’ or Lifelong Wealth Variant’ of this Policy ... the choice of Policy Variants can only be made on the Date of Commencement of Risk and these cannot be changed","sources":[{"clause":"44","heading":"“Policy Variants”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-44"}],"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":"Depends on the variant: 5 to 30 years for Wealth for Milestones; premium term plus deferment plus income period for Regular Wealth and Long Term Wealth; 10 to 45 years for Early Wealth; 100 less entry age for Lifelong Wealth.","display":"5 to 30 years (Wealth for Milestones); PPT + deferment + income period (Regular, Long Term Wealth); 10 to 45 years (Early Wealth); 100 less entry age (Lifelong Wealth)","note":"From the prospectus. Regular Wealth income periods 5, 10 or 15 years; Long Term Wealth 20, 25 or 30 years; deferment 0 to 5 years. For Wealth for Milestones limited pay the term must exceed the premium term by at least 5 years. Policies sold through POS persons: maximum policy term 20 years.","quote":"1-Wealth for Milestones^ | Single Pay | NA | NA | 5 to 10 | 5 ... 12 | 17 to 20, 25, 30 | 17 ... Policy term will be the sum of “Premium payment term + Income deferment period + Income period”. ... Policy term will be the sum of “Premium Payment Term + Deferment period + Income Period”. ... 4-Early Wealth | 10 | NA | 5 | 10 | 10 ... 20, 21, 25, 26, 30, 35, 36, 40 & 45 ... Policy term will be derived as (100 - Entry age).","sources":[{"clause":null,"heading":"Variant","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-variant"},{"clause":null,"heading":"5 VARIANTS TO CHOOSE FROM","page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-5-variants-to-choose-from"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"cross-checked","value":"The claimant must intimate the claim, with the necessary documents, at the earliest possible time; no fixed deadline is given.","display":"At the earliest possible time","note":"Helpline 1860 120 5577, service.helpdesk@axismaxlife.com.","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":"2.5","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-2-5-2"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"cross-checked","value":["claimant’s statement in the prescribed form (death claim application form -form A)","original Policy document","copy of police complaint/ first information report (death by accident or unnatural death or suicidal death)","All medical/ hospital records, in case of hospitalisation","post mortem report, autopsy/viscera report and final police investigation report /charge sheet (death by Accident or unnatural death or suicidal death)","original/ attested copy of death certificate issued by the local/municipal authority","discharge summary / indoor case papers","identity proof of the Claimants","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","attending physician’s statement (Form C) for medical/natural death","NEFT mandate form attested by bank authorities","Maturity and survival benefit: NEFT Form and a cancelled cheque or copy of passbook"],"display":"Death claim: claimant's statement (Form A), original policy, death certificate, medical records, police and post-mortem reports for accidental or unnatural death, bank details and others; maturity or survival: NEFT form and cancelled cheque","note":"Also for deaths abroad: body transfer certificate / embassy documents and complete passport copy; medical booklet / CGHS card for defence and central government personnel; other insurance details with claim history; and any other document the insurer requires.","quote":"a) claimant’s statement in the prescribed form (death claim application form -form A); ... b) original Policy document; ... c) 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); ... d) All medical/ hospital records, in case of hospitalisation, (including diagnostic records); ... e) 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); ... f) original/ attested copy of death certificate issued by the local/municipal authority(only in the case of death of the Life Insured) ; ... g) discharge summary / indoor case papers in case death happened due to medical reasons in a hospital; ... identity proof of the Claimants bearing their photographs and signatures ... l) employer certificate with complete leave records (Form E); ... m) copy of bank passbook / cancelled cheque of the Claimant; ... n) ITR for last 3 years / GST certificate in case of self employed; ... o) in case of a medical/natural death of the Life Insured, the attending physician’s statement (Form C) ... p) NEFT mandate form attested by bank authorities; ... Maturity Benefit claim documents ... a) NEFT Form (if not provided earlier); ... b) A cancelled cheque or copy of passbook with pre-printed name and bank account number ... Survival Benefit documents ... a) NEFT Form (if not provided earlier);","sources":[{"clause":"2.1.1","heading":"Death Claim documents","page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-2-1-1"},{"clause":"2.1.2","heading":"Maturity Benefit claim documents","page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-2-1-2-2"},{"clause":"2.1.3","heading":"Survival Benefit documents","page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-2-1-3"}],"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":"Not stated. The CIS only points to 'Service TATs in Insurance - Axis Max Life Insurance' for the claim settlement turnaround time.","quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"cross-checked","value":["Suicide, whether sane or insane, within 12 months from the Date of Commencement of Risk or from the date of Revival (only premiums or Surrender Value refunded)","Death during the 90-day Waiting Period due to any reason other than an Accident, for point of sale policies (premiums refunded)","Intentional self-inflicted Injury, or attempted suicide, while sane or insane (Additional Accidental Death benefit only)","Under the influence of drugs, alcohol, narcotics or psychotropic substances (Additional Accidental Death benefit only)","War, invasion, act of foreign enemy, hostilities, civil war, riot or civil commotion, strikes (Additional Accidental Death benefit only)","Taking part in any naval, military or air force operation (Additional Accidental Death benefit only)","Flying activity, except as a bona fide, fare-paying passenger of a recognized airline or commercial airline crew (Additional Accidental Death benefit only)","Participation in a criminal or unlawful act with illegal or criminal intent (Additional Accidental Death benefit only)","Any Injury incurred before the Date of Commencement of Risk (Additional Accidental Death benefit only)","Professional sport(s) or any hazardous pursuits (Additional Accidental Death benefit only)","Nuclear contamination (Additional Accidental Death benefit only)"],"display":"Suicide within 12 months (premium refund only); non-accidental death in the 90-day POS waiting period; plus exclusions on the Additional Accidental Death benefit (self-injury, drugs or alcohol, war, military operations, non-airline flying, crime, prior injury, hazardous sports, nuclear)","note":"The policy wording's suicide clause (Part F clause 5) is garbled and omits the period; the 12 months come from the prospectus (the CIS agrees). The 90-day waiting period does not apply to accidental death or on revival. The policy wording states there are no restrictions on travel or occupation.","quote":"if the Life Insured commits suicide, whether minor/major, whether sane or insane ... We shall only pay the following to the Claimant ... Higher of the Surrender Value as on the date of death or the sum of (Total Premiums Paid ... In case of death of life insured due to suicide within 12 months from the date of inception of the policy (date of commencement of risk under the policy) or from the date of revival of policy, as applicable, the policy shall terminate immediately. ... “Waiting Period” shall mean a period of 90 days from the Date of Commencement of Risk/Inception of the Policy. It is applicable only in case the Policy is sourced as a point of sale policy; ... in case the Life Insured dies during the Waiting Period due to any reason other than an Accident, We will refund 100% of the Total Premiums Paid ... EXCLUSIONS APPLICABLE TO ADDITIONAL ACCIDENTAL DEATH BENEFIT: ... i) Intentional self-inflicted Injury, or attempted suicide, while sane or insane; ... ii) Life Insured being under the influence of drugs, alcohol, narcotics or psychotropic substances ... iii) War, invasion, act of foreign enemy, hostilities (whether war be declared or not), armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes; ... iv) Taking part in any naval, military or air force operation ... v) Participation by the Life Insured in any flying activity, except as a bona fide, fare-paying passenger of a recognized airline or a pilot and cabin crew of a commercial airline ... vi) Participation by the Life Insured in a criminal or unlawful act with illegal or criminal intent; ... vii) Any Injury incurred before the Date of Commencement of Risk; ... viii) Engaging in or taking part in professional sport(s) or any hazardous pursuits ... ix) Nuclear contamination;","sources":[{"clause":"5","heading":"SUICIDE EXCLUSION","page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-5-8"},{"clause":"5.1","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-5-1-3"},{"clause":null,"heading":"Suicide Exclusions","page":35,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-suicide-exclusions"},{"clause":"72","heading":"“Waiting Period”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-72"},{"clause":"1.1.4(i)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-1-4-i"},{"clause":"6","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-6-3"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"cross-checked","value":"First contact your agent, the customer helpdesk (1860 120 5577, service.helpdesk@axismaxlife.com) or any Axis Max Life office. If there is no satisfactory response within 14 days, write to the Grievance Redressal Officer (manager.services@axismaxlife.com) or the IRDAI Grievance Cell; then the Insurance Ombudsman.","display":"Agent or customer helpdesk (1860 120 5577) first; then Grievance Redressal Officer if no satisfactory reply in 14 days; then Ombudsman","note":"Ombudsman may be approached if there is no response within 1 month or within 1 year after rejection of the complaint. IRDAI Bima Bharosa toll free 155255 or 1800 4254 732.","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 (Fourteen) days ... Grievance Redressal Officer, Axis Max Life Insurance Limited ... Email: manager.services@axismaxlife.com; ... the complainant may approach the Grievance Cell of the IRDAI ... the complainant may approach Insurance Ombudsman","sources":[{"clause":"1.1","heading":null,"page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-1-7"},{"clause":"1.2","heading":"If Our response is not satisfactory or there is no response within 14 (Fourteen) days","page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-2-8"},{"clause":"1.2.1","heading":null,"page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-2-1-2"},{"clause":"1.2.2","heading":null,"page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-2-2-3"},{"clause":"1.3","heading":null,"page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-3-5"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"cross-checked","value":"Sum Assured on Death is 11 times the Annualised Premium for regular or limited pay, and the Death Benefit Multiple (1.25 or 10) times the Single Premium for single pay. Minimum Rs. 55,000 (Rs. 62,500 for single pay); maximum as per the board approved underwriting policy.","display":"11 times Annualised Premium (1.25 or 10 times Single Premium for single pay); minimum Rs. 55,000 (Rs. 62,500 single pay); maximum per underwriting","note":"Minimums and maximum from the prospectus. Policies sold through POS persons: maximum Sum Assured on Death Rs. 25 lacs. Sum Assured on Maturity depends on premium, age, gender, premium band and variant (rates on company website).","quote":"a) For Single Premium Payment Variant- Death Benefit Multiple times Single Premium (plus Underwriting Extra Premium, if any) ... b) For Regular Premium Payment Variant/ Limited Premium Payment Variant-11 times Annualised Premium (plus Underwriting Extra Premium, if any) ... The available Death Benefit Multiples under the Policy are 1.25 or 10; ... The minimum Sum Assured on Death for single pay is Rs. 62,500. The minimum Sum Assured on Death for other than Single pay is Rs. 55,000. ... The maximum Sum Assured on Death is subject to limits determined in accordance with the Board approved underwriting policy (BAUP) of the Company.","sources":[{"clause":"64","heading":"“Sum Assured on Death”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-64"},{"clause":"15","heading":null,"page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-15"},{"clause":null,"heading":"Variant","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-variant"}],"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":"A lump sum: for single pay, the higher of Sum Assured on Death or 125% of the Surrender Value; for regular or limited pay, the highest of Sum Assured on Death, 105% of Total Premiums Paid (with modal loadings and extra premium) or 125% of the Surrender Value. Unpaid accrued income is added. On accidental death after the premium term (not single pay), an extra 50% of Sum Assured on Death, up to Rs. 1 crore, is paid.","display":"Highest of Sum Assured on Death, 105% of total premiums paid or 125% of surrender value (single pay: higher of Sum Assured on Death or 125% of surrender value); plus 50% of Sum Assured on Death (max Rs. 1 crore) on accidental death after the premium term","note":"With the optional Policy Continuance Benefit (not single pay or Lifelong Wealth): higher of Sum Assured on Death or 105% of premiums paid, and future survival and maturity benefits continue without further premiums. Accident benefit not available for minors and ends at age 80. Point of sale policies: non-accidental death in the first 90 days returns 100% of premiums only.","quote":"We will pay a lump sum guaranteed Death Benefit as follows: ... a) For Single Premium Payment Variant, higher of:\ni) Sum Assured on Death;\nii) 125% of the Surrender Value applicable as on the date of death of the Life Insured. ... b) For Regular Premium Payment Variant and Limited Premium Payment Variant, highest of:\ni) Sum Assured on Death;\nii) 105% (One Hundred Five percent) of sum of (Total Premiums Paid plus loadings for modal premiums plus Underwriting Extra Premium (if any)) received under the Policy, as on the date of death of the Life Insured; or\niii) 125% of the Surrender Value applicable as on the date of death of the Life Insured. ... Note - Any accrued Income Benefit and Loyalty Income Boosters, if not already paid shall be paid in addition to Death Benefit. ... If the Life Insured dies due to Accident during the Additional Accidental Death Benefit Term after the end of Premium Payment Term, provided the Policy is in force, on the date of death of the Life Insured, We will pay the Additional Accidental Sum Assured on Death in addition to the Death Benefit ... Additional Accidental Sum Assured on Death shall be equal to 50% of Sum Assured on Death. The maximum Additional Accidental Sum Assured on Death shall not exceed Rs. 1 crore;","sources":[{"clause":"1.1.1","heading":"Death during the Policy Term where the Policy Continuance Benefit not selected by You","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-1-1"},{"clause":"1.1.3","heading":null,"page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-1-3"},{"clause":"4","heading":"“Additional Accidental Sum Assured on Death”","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-4"}],"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":"Wealth For Milestones and Early Wealth: Sum Assured on Maturity plus accrued Guaranteed Additions. Regular Wealth: no maturity benefit. Long Term Wealth: Sum Assured on Maturity equal to Total Premiums Paid. Lifelong Wealth: 100% of Total Premiums Paid including modal loadings.","display":"Sum Assured on Maturity plus Guaranteed Additions (Wealth For Milestones, Early Wealth); none (Regular Wealth); return of Total Premiums Paid (Long Term Wealth); 100% of Total Premiums Paid (Lifelong Wealth)","note":"Payable only if the policy is in force and fully paid. Any accrued unpaid income and Loyalty Income Boosters are paid in addition. Can be taken as monthly or annual income over 5 years (settlement option).","quote":"a) In case You have chosen Wealth For Milestones Variant, We will pay Sum Assured on Maturity and accrued Guaranteed Additions. ... b) In case You have chosen Regular Wealth Variant, We will not pay any Maturity Benefit. ... c) In case You have chosen Long Term Wealth Variant, We will pay the Sum Assured on Maturity which will be equal to the Total Premiums Paid. ... d) In case You have chosen Early Wealth Variant, We will pay the Sum Assured on Maturity and accrued Guaranteed Additions. ... e) In case You have chosen Lifelong Wealth Variant, We will pay the Sum Assured on Maturity which will be equal to the 100% of the Total Premiums Paid but including the loadings for modal premiums","sources":[{"clause":"1.3.1","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-3-1"}],"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, or 5, 6, 8, 10 or 12 years; Early Wealth also allows 7, 15 or 20 years.","display":"Single pay or 5, 6, 8, 10, 12 years (Early Wealth: 5, 6, 7, 8, 10, 12, 15, 20 years)","note":"From the prospectus. Single pay only under Wealth For Milestones.","quote":"1-Wealth For Milestones | Single Pay, 5,6,8,10,12 ... 2-Regular Wealth | 5,6,8,10,12 ... 3-Long Term Wealth | 5,6,8,10,12 ... 4-Early Wealth | 5,6,7,8,10,12,15,20 ... 5-Lifelong Wealth | 5,6,8,10,12 ... 2-Regular Wealth | 5, 6, 8, 10, 12 ... 4-Early Wealth | 10 | NA | 5 | 10 | 10 ... 12 | 5, 7 | 12 | 12 ... 15 | 5, 7, 10 | 15 | 15 ... 20 | 5, 7, 10 | 20 | 20","sources":[{"clause":null,"heading":"Eligibility Criteria","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-eligibility-criteria"},{"clause":null,"heading":"Variant","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-variant"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"cross-checked","value":"Maximum maturity age is 100 for Long Term Wealth and Lifelong Wealth, 95 for Early Wealth, 90 for Wealth for Milestones (limited pay) and 85 for Regular Wealth; lower if Policy Continuance Benefit is opted. Minimum maturity age 18.","display":"Up to age 100 (Long Term Wealth, Lifelong Wealth); 95 Early Wealth; 90 Wealth for Milestones; 85 Regular Wealth","note":"From the prospectus (age last birthday). Single pay Wealth for Milestones: 75 (1.25x multiple) or 55 (10x multiple). With Policy Continuance Benefit: 85, 80, 95 and 88 respectively. POS policies: maximum 65.","quote":"The minimum maturity age for all available variants is 18 years (age last birthday). ... 1-Wealth for Milestones | Single Pay | 1.25x DB Multiple: 75 years 10x DB Multiple: 55 years | NA\n5,6,8,10,12 | 90 | 85\n2-Regular Wealth | 5,6,8,10,12 | 85 | 80\n3-Long Term Wealth | 5,6,8,10,12 | 100 | 95\n4-Early Wealth | 5,6,7,8,10,12,15,20 | 95 | 88\n5-Lifelong Wealth | 5,6,8,10,12 | 100 | NA","sources":[{"clause":null,"heading":"Variant","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-variant"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"cross-checked","value":"If death is by suicide within 12 months of the start of risk or of revival, the policy ends and the claimant gets the higher of the Surrender Value or total premiums paid (with modal loadings and extra premium) if a surrender value has been acquired, otherwise total premiums paid.","display":"Within 12 months: higher of Surrender Value or total premiums paid (premiums paid if no surrender value acquired)","note":"The policy wording (Part F clause 5) is garbled: its text breaks off after 'within' and omits the period; the prospectus and CIS give 12 months. Payable provided the policy is in force. Any income benefit already paid is deducted from the refund.","quote":"In case of death of life insured due to suicide within 12 months from the date of inception of the policy (date of commencement of risk under the policy) or from the date of revival of policy, as applicable, the policy shall terminate immediately. ... 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), if the Policy has acquired a Surrender Value; or ... Total Premiums Paid plus loadings for modal premiums and Underwriting Extra Premium, if any, received by Us till the date of death, if the Policy has not acquired a Surrender Value.","sources":[{"clause":null,"heading":"Suicide Exclusions","page":35,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-suicide-exclusions"},{"clause":"5.1","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-5-1-3"},{"clause":"5.2","heading":null,"page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-5-2-4"}],"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":"cross-checked","value":"The surrender value is the higher of the Guaranteed and Special Surrender Value. Single pay acquires it immediately; regular or limited pay acquires a Special Surrender Value after the first policy year with one full year's premium paid and a Guaranteed Surrender Value after two full years' premiums.","display":"Higher of Guaranteed or Special Surrender Value; single pay at once, other policies after the first full year's premium","note":"Guaranteed Surrender Value factors on premiums paid (regular/limited pay): 0% year 1, 30% year 2, 35% year 3, 50% years 4-7; single pay 75% to 90%. Accrued Guaranteed Additions surrender at 30%. Not allowed once Policy Continuance Benefit has triggered.","quote":"The Surrender Value will be equal to the higher of Guaranteed Surrender Value or Special Surrender Value. ... a) For Single Premium Payment Variant: Immediately upon receipt of Single Premium ... b) Limited Premium Payment Variant / Regular Premium Payment Variant: On receipt of complete Premiums for first two Policy Years. ... b) Limited Premium Payment Variant / Regular Premium Payment Variant: After completion of first Policy Year provided one full year Premium has been received","sources":[{"clause":"1.3","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-3-3"},{"clause":"1.6.1","heading":"The Policy shall acquire Guaranteed Surrender Value, subject to the following criteria","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-6-1"},{"clause":"1.7.2","heading":"The Policy shall acquire Special Surrender Value, subject to the following criteria","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-7-2"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"cross-checked","value":"If premiums stop after the policy has acquired a surrender value (not single pay), it continues as Reduced Paid Up: sums assured, income and money back are reduced in the ratio of premiums paid to premiums payable, and Loyalty Income Boosters stop.","display":"Reduced Paid Up once a surrender value is acquired: benefits scaled by premiums paid / premiums payable; no Loyalty Income Boosters","note":"Same ratio applies to Sum Assured on Death, Income Benefit (Regular, Long Term, Lifelong Wealth) and Money Back; Wealth For Milestones gets no RPU income; Early Wealth gets RPU income only from the premium term onward. A paid-up policy with reduced sum assured below Rs. 2,500 may lapse or be terminated with the surrender value.","quote":"If this Policy has acquired a Surrender Value as specified under Clause 1 of Part D and for other than Single Premium Payment Variant, 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 will continue under Reduced Paid Up Mode unless revived. ... “Reduced Paid Up Sum Assured on Maturity” means an amount equal to the Sum Assured on Maturity multiplied by the ratio of total period for which Premiums have already been paid under the Policy to the maximum period for which Premiums were originally payable under the Policy; ... Please note that loyalty income boosters are not available under RPU policy.","sources":[{"clause":"3","heading":"REDUCED PAID UP BENEFITS","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-3-2"},{"clause":"53","heading":"“Reduced Paid Up Sum Assured on Maturity”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-53"},{"clause":null,"heading":"4. Reduced Paid Up Benefits","page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-4-reduced-paid-up-benefits"}],"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 or reduced paid-up policy can be revived within 5 years from the due date of the first unpaid premium, with proof of health and all overdue premiums plus late fee.","display":"5 years from the due date of the first unpaid premium","note":"Late fee: nil for 0-60 days; RBI Bank Rate + 1% (7.75%) for 61-180 days; RBI Bank Rate + 3% (9.75%) beyond 180 days. Not revivable beyond the policy term. Prospectus: revival not applicable to single pay.","quote":"“Revival Period” means a period of 5 (Five) consecutive years from the due date of the first unpaid Premium; ... A Lapsed Policy or a Policy under Reduced Paid Up Mode can be revived as per the Underwriting Policy, within the Revival Period:","sources":[{"clause":"57","heading":"“Revival Period”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-57"},{"clause":"3.1","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-3-1-2"}],"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. Once the policy has acquired a surrender value and is premium paying and in force, loans of at least Rs. 10,000 and up to 80% of the Surrender Value are available, at RBI Bank Rate plus 3% (currently 9.75% p.a.).","display":"Yes, Rs. 10,000 minimum up to 80% of Surrender Value, at 9.75% p.a. currently","note":"Policy is assigned to the insurer while the loan is outstanding. A reduced paid-up policy terminates if loan plus interest exceeds the surrender value.","quote":"Once this Policy has acquired the Surrender Value and it is a Premium paying in-force Policy and if there’s no existing outstanding loan on the same Policy, 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 80% (Eighty 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","sources":[{"clause":"2.1","heading":"Once this Policy has acquired the Surrender Value and it","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-2-1"},{"clause":"2.2","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-2-2-2"},{"clause":"2.6","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#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":"cross-checked","value":["Axis Max Life Waiver of Premium plus Rider (UIN: 104B029V06)","Axis Max Life Accidental Death and Dismemberment Rider (UIN: 104B027V05)","Axis Max Life Term plus Rider (UIN: 104B026V04)","Axis Max Life Critical Illness and Disability Rider (UIN: 104B033V02)"],"display":"Waiver of Premium plus, Accidental Death and Dismemberment, Term plus, Critical Illness and Disability riders","note":"No riders for POS policies. The leaflet prints the Waiver of Premium plus Rider UIN as 104B029V05. An Additional Accidental Death benefit (50% of Sum Assured on Death) is built in, not a rider.","quote":"Axis Max Life Waiver of Premium plus Rider (UIN: 104B029V06) ... Axis Max Life Accidental Death and Dismemberment Rider (UIN: 104B027V05) ... Axis Max Life Term plus Rider (UIN: 104B026V04) ... Axis Max Life Critical Illness and Disability Rider (UIN: 104B033V02) ... No riders will be available with the policies sold through POS persons.","sources":[{"clause":null,"heading":"RIDERS","page":32,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-riders"}],"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 the date of issue, risk commencement, revival or rider, whichever is later. Within those 3 years it can be questioned only for fraud or for a mis-statement or suppression of a material fact, with the grounds given in writing.","display":"No challenge on any ground after 3 years; within 3 years only for fraud or material mis-statement","note":"Simplified version in Annexure 1 of the policy. If repudiated for mis-statement (not fraud), premiums collected are refunded within 90 days.","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 in the proposal ... the insurer should communicate in writing to the insured or legal representative or nominee or assignees of insured, as applicable, mentioning the ground and materials on which such decision is based.","sources":[{"clause":"Section 45","heading":"Policy shall not be called in question on the ground of mis-statement after three years","page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-section-45"},{"clause":"Section 45(a)","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-section-45-a"}],"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 may change; consult a tax advisor.","display":"Tax benefits may be available as per prevailing tax laws","note":"No specific section of the Income Tax Act is named.","quote":"Tax benefits may be available as per prevailing tax laws. Tax laws, their interpretation and/or application, including benefits arising thereunder are subject to change. You are advised to consult your tax advisor regarding the tax benefits and liabilities applicable to you.","sources":[{"clause":"1.3","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-3-4"}],"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 after deducting proportionate risk premium, stamp duty and medical examination costs, net of any income benefit paid.","quote":"“Free look” means a period of 30 days beginning from the date of receiving the Policy to review the terms and conditions of the Policy.","sources":[{"clause":null,"heading":"6 FREELOOK CANCELLATION","page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-6-freelook-cancellation"}],"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 mode. Cover continues during the grace period; unpaid premium is deducted from the death benefit.","quote":"The grace period is a period of 15 (Fifteen) days from the due date of the first unpaid Premium for monthly Premium payment mode and 30 (Thirty) days from the due date of the first unpaid Premium for annual, semi-annual or quarterly premium payment modes;","sources":[{"clause":"17","heading":"“Grace Period”","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-17"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"cross-checked","value":"Minimum 91 days for most variants (8 years for single pay Wealth for Milestones, 40 years for Lifelong Wealth, 18 years with Policy Continuance Benefit). Maximum 65 years less the premium payment term (single pay: 65 years with 1.25x multiple, 45 years with 10x multiple).","display":"91 days to 65 years less premium term; Lifelong Wealth from 40; single pay 8 to 65 (or 45)","note":"From the prospectus (age last birthday). With Policy Continuance Benefit the minimum is 18 and the maximum is 60 less PPT (58 less PPT for Early Wealth). Additional accidental death benefit needs entry age 18.","quote":"1-Wealth For Milestones | Single Pay | 8 years | NA ... 5,6,8,10,12 | 91 days | 18 years ... 5-Lifelong Wealth | 5 | 40 years | NA ... 1-Wealth For Milestones | Single Pay | 1.25x DB Multiple: 65 years 10x DB Multiple: 45 years | NA ... 5,6,8,10,12 | 65 years less PPT | 60 years less PPT","sources":[{"clause":null,"heading":"Eligibility Criteria","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-eligibility-criteria"}],"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":["Annual","Semi-annual","Quarterly","Monthly"],"display":"Annual, semi-annual, quarterly or monthly","note":"Single premium also available under Wealth For Milestones. Mode can be changed from the next policy anniversary.","quote":"You can pay the Premium annually, semi-annually, quarterly or on monthly basis, as per the Premium payment mode chosen by You.","sources":[{"clause":"7.1","heading":null,"page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-7-1"}],"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","Limited","Regular"],"display":"Single, limited or regular pay","note":"Single pay only under Wealth For Milestones; regular pay only under Early Wealth; other variants are limited pay.","quote":"Premium Payment Variant: Single/ Limited/ Regular ... Variant 1: “Wealth for Milestones”: This has both single pay, and limited pay options. ... Variant 4: “Early Wealth”: This is a limited / regular pay variant","sources":[{"clause":null,"heading":"POLICY SCHEDULE","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-policy-schedule"},{"clause":null,"heading":"5 VARIANTS TO CHOOSE FROM","page":11,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-5-variants-to-choose-from"}],"law":[]},{"key":"guaranteed_benefits","label":"Guaranteed benefits","section":"Cover","meaning":"What is guaranteed, in rupees or as a formula, regardless of the insurer's performance.","status":"cross-checked","value":"All benefits are guaranteed: the Sum Assured on Death and Sum Assured on Maturity are absolute guaranteed amounts, and Guaranteed Additions equal 12% of Sum Assured on Maturity each year (Wealth for Milestones) or 25% (Early Wealth).","display":"Fully guaranteed: Sum Assured on Death, Sum Assured on Maturity, Guaranteed Additions of 12% (Wealth for Milestones) or 25% (Early Wealth) of Sum Assured on Maturity","note":"Guaranteed Additions accrue in the last four policy years (Wealth for Milestones) or last four years of the premium term (Early Wealth). Leaflet: guaranteed benefits apply only if all due premiums are paid.","quote":"Fully guaranteed benefits to help you plan and meet your planned milestones. ... “Sum Assured on Death” means an absolute amount of benefit which is guaranteed to become payable on the death of the Life Insured ... “Sum Assured on Maturity” means an absolute amount of benefit, which is guaranteed to become payable at the end of the Policy Term ... shall be equal to 12% of Sum Assured on Maturity each year for Wealth Milestone Variant and 25% of Sum Assured on Maturity for Early Wealth Variant","sources":[{"clause":"1","heading":"Guaranteed Returns","page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-1"},{"clause":"64","heading":"“Sum Assured on Death”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-64"},{"clause":"65","heading":"“Sum Assured on Maturity”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-65"},{"clause":"18","heading":"“Guaranteed Additions”","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-18"}],"law":[]},{"key":"bonus","label":"Bonus type","section":"Cover","meaning":"Participating plans share profits as bonuses; these are NOT guaranteed.","status":"cross-checked","value":"No bonus: this is a non-participating plan.","display":"None (non-participating plan)","note":"Loyalty Income Boosters and Auto Debit Boosters (1% of premiums paid by auto debit) are fixed additions, not bonuses.","quote":"A Non-Linked Non-Participating Individual Life Insurance Savings Plan","sources":[{"clause":null,"heading":"Axis Max Life Smart Wealth Advantage Guarantee Plan","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-axis-max-life-smart-wealth-advantage-guarantee-p"}],"law":[]},{"key":"illustration_returns","label":"Illustrated returns","section":"Cover","meaning":"The benefit illustration at the IRDAI rates (4% and 8%); not a promise.","status":"cross-checked","value":"Sample case (Wealth for Milestones): a 35-year-old paying Rs. 1,00,000 a year for 8 years with a 16-year term gets a maturity benefit of Rs. 16,77,740 on Rs. 8,00,000 paid.","display":"Sample: Rs. 8,00,000 paid, Rs. 16,77,740 at maturity in year 16 (age 35, Wealth for Milestones)","note":"Guaranteed product: the prospectus gives case studies, not 4%/8% scenarios. Other samples: Regular Wealth Rs. 15,27,665 income on Rs. 10,00,000; Long Term Wealth Rs. 20,61,560 income plus Rs. 10,00,000; Early Wealth Rs. 7,19,040 income plus Rs. 12,00,890. The prospectus prints the Regular Wealth income as Rs. 3,06,533 a year, but its own table (Rs. 2,54,611 income plus Rs. 50,922 booster) and the leaflet give Rs. 3,05,533, which matches the Rs. 15,27,665 total.","quote":"Mr. Bhalla, aged 35 years, pays a premium of Rs. 1,00,000 (via ECS mode of payment) in Axis Max Life Smart Wealth Advantage Guarantee Plan on an annual mode. He opts for the Wealth for Milestones variant, 8 year Premium Payment Term & 16 year Policy Term. ... The total premiums paid by Mr. Bhalla is Rs. 8,00,000. He receives a maturity benefit of Rs. 16,77,740 at end of year 16.","sources":[{"clause":null,"heading":"SAMPLE ILLUSTRATIONS","page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-sample-illustrations"},{"clause":null,"heading":"Age (at end","page":19,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257#c-age-at-end-2"}],"law":[]},{"key":"money_back","label":"Survival or money-back payouts","section":"Cover","meaning":"Instalments paid during the term.","status":"cross-checked","value":"Regular, Long Term, Early and Lifelong Wealth pay an Income Benefit during the income period; Regular Wealth adds Loyalty Income Boosters of 20% of income, Long Term and Lifelong Wealth 40%. Lifelong Wealth also pays a Money Back Benefit of 50% of Sum Assured on Maturity at age 85. Wealth For Milestones pays no income.","display":"Income Benefit during the income period, plus Loyalty Income Boosters of 20% (Regular Wealth) or 40% (Long Term, Lifelong Wealth); Lifelong Wealth also 50% of Sum Assured on Maturity at age 85; none for Wealth For Milestones","note":"Income can be paid yearly, half-yearly, quarterly or monthly, in arrears or advance, or accrued at the RBI repo rate. Early Wealth income can start from year 1. Regular and Long Term Wealth allow 0 to 5 years' deferment.","quote":"No Income Benefit is available under the Wealth For Milestones Variant; ... b) Loyalty Income Boosters (equivalent to 20% of the Income Benefit) shall accrue after the completion of the Premium Payment Term ... In case You have chosen Long Term Wealth Variant, We will pay the following Survival Benefit: ... b) Loyalty Income Boosters (equivalent to 40% of the Income Benefit), shall accrue after the completion of the Premium Payment Term ... Income Benefit, payable during the Income Benefit Period as per chosen Income Payout Frequency ... “Money Back Benefit” means lump sum amount equal to 50% of the Sum Assured on Maturity payable only in case of the Lifelong Wealth Variant at the end of year when You attain Age of 85 years","sources":[{"clause":"21","heading":"“Income Benefit”","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-21"},{"clause":"1.2.1","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-2-1"},{"clause":"1.2.2","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-2-2-2"},{"clause":"1.2.3","heading":"In case You have chosen Early Wealth Variant, We will pay the following Survival Benefit","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-2-3"},{"clause":"1.2.4(b)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-1-2-4-b"},{"clause":"37","heading":"“Money Back Benefit”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256#c-37"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Contract","pages":24,"fetched_at":"2026-10-16 07:11:48.667609+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SWAG-Policy-Document.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/256"},{"kind":"prospectus","label":"Prospectus","pages":39,"fetched_at":"2026-10-16 07:11:48.667609+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SWAG-Prospectus.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/257"},{"kind":"cis","label":"Customer Information Sheet","pages":5,"fetched_at":"2026-10-16 07:11:48.667609+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SWAG-CIS.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/258"},{"kind":"brochure","label":"Leaflet","pages":10,"fetched_at":"2026-10-16 07:11:48.667609+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/SWAG-Leaflet.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17/document/259"}],"versions":[{"uin":"104N124V01","version":null,"approved_on":null},{"uin":"104N124V17","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 Wealth Advantage Guarantee Plan (UIN 104N124V17), IndiaInsurances, https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-wealth-advantage-guarantee-plan-104n124v17"}