{"uin":"104N132V01","name":"Axis Max Life Smart Term Plan Plus","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01","insurer":{"slug":"axis-max-life-insurance","name":"Axis Max Life Insurance Limited","url":"https://indiainsurances.com/insurer/axis-max-life-insurance"},"line":"life","category":"term-life","category_name":"Term life","irdai_type":"Product","kind":"product","status":"active","approved_on":"2025-01-28","withdrawn_on":null,"summary":"Axis Max Life Smart Term Plan Plus is a non-linked non-participating individual pure risk life insurance plan with eight plan variants in the prospectus (seven in the policy wording), including Return of Premium, Whole Life Cover to age 100, Income Protection Cover and a reducing Credit Protect Cover. It has a built-in Terminal Illness benefit of up to Rs. 1 Crore, a 30-day free-look period, a Cover Continuance Benefit that defers premiums for up to 12 months, and optional Maternity and Accident covers.","analysis":{"state":"extracted","analysed_at":"2026-10-16 07:12:02.690927+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":["Regular Cover","Early ROP Plus","Smart Cover","Return of Premium","Whole Life Cover","Income Protection Cover","Credit Protect Cover","Classic Cover"],"display":"Regular Cover, Early ROP Plus, Smart Cover, Return of Premium, Whole Life Cover, Income Protection Cover, Credit Protect Cover, Classic Cover","note":"The policy wording read here defines seven Plan Variants; the prospectus offers an eighth, Classic Cover (level cover without the Terminal Illness benefit), which is not described in this policy wording. Regular Cover, Return of Premium and Classic Cover are also sold as point-of-sale (POS) policies. The leaflet shows only six variants (no Credit Protect or Classic Cover). One variant is chosen at inception and cannot be changed.","quote":"“Plan Variant” means one of the following Plan Variants chosen by You on the Date of Commencement of Risk: i) Regular Cover; ii) Early ROP Plus; iii) Smart Cover; iv) Return of Premium; v) Whole Life Cover; vi) Income Protection Cover; and vii) Credit Protect Cover. ... Flexibility to choose from 8 plan variants based on your needs. ... Classic Cover | Available | Not Available | Not Available | Available | Available","sources":[{"clause":"37","heading":"“Plan Variant”","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-37"},{"clause":null,"heading":"Introducing Axis Max Life Smart Term Plan Plus","page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-introducing-axis-max-life-smart-term-plan-plus"},{"clause":null,"heading":"How to purchase this plan?","page":2,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-how-to-purchase-this-plan"}],"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: Regular Cover 10 to 67 years; Early ROP Plus 21 to 67 years; Smart Cover 20 to 67 years; Return of Premium 10 to 50 years; Whole Life Cover 50 to 82 years (100 minus age at entry); Income Protection Cover 10 to 67 years; Credit Protect Cover 5 to 40 years.","display":"10 to 67 years for most variants (Whole Life Cover to age 100)","note":"From the prospectus. Early ROP Plus minimum is the higher of 70 minus entry age and PPT+20. POS policies (Regular Cover, Return of Premium, Classic Cover): 10 to 47 years. Classic Cover (prospectus only): 10 to 67 years.","quote":"1 | Regular Cover | 10 years | 67 years ... 2 | Early ROP Plus | 21 years (Max of (70 minus age at entry, PPT+20) | 67 years ... 3 | Smart cover | 20 years | 67 years ... 4 | Return of Premium | 10 years | 50 years ... 5 | Whole Life Cover | 50 years | 82 (100 minus age at entry) ... 6 | Income Protection Cover | 10 years | 67 years ... 7 | Credit Protect Cover | 5 years | 40 years ... 8 | Classic Cover | 10 years | 67 years ... Regular Cover | 10 Years | 47 Years","sources":[{"clause":"Row 1","heading":"Regular Cover","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-1-4"},{"clause":"Row 2","heading":"Early ROP Plus","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-2-3"},{"clause":"Row 3","heading":"Smart cover","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-3-2"},{"clause":"Row 4","heading":"Return of Premium","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-4-2"},{"clause":"Row 5","heading":"Whole Life Cover","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-5-2"},{"clause":"Row 6","heading":"Income Protection Cover","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-6"},{"clause":"Row 7","heading":"Credit Protect Cover","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-7"},{"clause":"Row 8","heading":"Classic Cover","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-8"}],"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, in person, online, through the distribution channel or the authorised call centre.","display":"At the earliest possible time","note":"No fixed number of days is given.","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":32,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#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 (death claim application form - form A)","Original Policy document","Copy of police complaint / FIR (accidental, unnatural or suicidal death)","All medical / hospital records in case of hospitalisation","Post mortem report, autopsy / viscera report and final police investigation report / charge sheet (accidental, unnatural or suicidal death)","Original / attested copy of death certificate","Discharge summary / indoor case papers (death in hospital due to medical reasons)","Medical booklet / CGHS card details (defence and central government personnel)","Body transfer certificate / embassy documents and complete passport copy (death in a foreign country)","Self-attested identity proof of the Claimant including Nominee(s)","Other life / health insurance details with claim history","Employer certificate with complete leave records (Form E)","ITR for last 3 years / GST certificate (self employed)","Attending physician's statement (Form C) and medical records (medical / natural death)","NEFT mandate form attested by bank authorities and bank details of Claimant","Any other document required by the insurer"],"display":"Death claim: claim form A, policy document, death certificate, ID proof, medical and police records as applicable, bank / NEFT details and others","note":"List for a death claim. Separate lists apply to Terminal Illness claims (claimant's statement, physician's statement, Medical Practitioner's certificate of Terminal Illness, medical records, ID proof), Maternity Cover claims (form AA, medical records, bank statement of last 2 years, etc.) and maturity claims (NEFT form, cancelled cheque, photo ID). Insta Payment on Claim Intimation needs the death certificate, cancelled cheque / bank account details, claim intimation form and KYC of Claimant.","quote":"claimant’s statement in the prescribed form (death claim application form -form A); ... original Policy document; ... a copy of police complaint/ first information report (in the case of death by accident or unnatural death or suicidal death of the Life Insured); ... All medical/ hospital records (including diagnostic records) in case of hospitalisation; ... a copy of duly certified post mortem report, autopsy/viscera report and a copy of the final police investigation report /charge sheet (in the case of death by accident or unnatural death or suicidal death of the Life Insured); ... original/ attested copy of death certificate issued by the local/municipal authority ... 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; ... a self-attested copy of identity proof of the Claimant including Nominee(s) bearing their photographs and signatures ... other life / health insurance details with claim history details; ... employer certificate with complete leave records (Form E); ... ITR for last 3 years / GST certificate in case of self employed; ... in case of a medical/natural death of the Life Insured, the attending physician’s statement (Form C) and the medical records ... NEFT mandate form attested by bank authorities ... Bank details of Claimant; ... any other document or information required by Us for assessing and approving the claim request.","sources":[{"clause":"2.1.2","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-2-2"},{"clause":"2.1.3","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-3"},{"clause":"2.1.4","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-4"},{"clause":"2.1.5","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-5"},{"clause":"2.1.6","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-6"},{"clause":"2.1.7","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-7"},{"clause":"2.1.8","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-8"},{"clause":"2.1.9","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-9"},{"clause":"2.1.10","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-10"},{"clause":"2.1.11","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-11"},{"clause":"2.1.12","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-12"},{"clause":"2.1.13","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-13"},{"clause":"2.1.14","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-14"},{"clause":"2.1.15","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-15"},{"clause":"2.1.16","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-16"},{"clause":"2.1.17","heading":"NEFT mandate form attested by bank authorities","page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-17"},{"clause":"2.1.18","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-18"},{"clause":"2.1.19","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1-19"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"not-stated","value":null,"display":null,"note":"The policy wording gives no settlement deadline; the CIS only points to 'Service TATs in Insurance - Axis Max Life Insurance'. Insta Payment on Claim Intimation: after the first policy year an accelerated amount (Rs. 5,000 to Rs. 2,00,000 by Base Sum Assured) is paid within one working day of claim registration, the rest after the claim is approved.","quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"cross-checked","value":["Suicide within 12 (Twelve) months from the Date of Commencement of Risk or Revival: only Total Premiums Paid (with modal loading and Underwriting Extra Premium) refunded","Point of sale policies: death within the Waiting Period of 90 days for any reason other than an Accident: only 100% of Total Premiums Paid refunded","Accident Cover Option: suicide or self-inflicted injury","Accident Cover Option: war, terrorism, invasion, civil war, riot or civil commotion","Accident Cover Option: taking part in any naval, military or air force operation during peace time","Accident Cover Option: any condition that is pre-existing at the time of inception of the policy","Accident Cover Option: committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent","Accident Cover Option: alcohol or solvent abuse or taking of drugs, narcotics or psychotropic substances unless prescribed","Accident Cover Option: poison, gas or fumes","Accident Cover Option: service in the armed forces or any police organization of any country at war","Accident Cover Option: aviation other than as a fare-paying passenger","Accident Cover Option: professional sport(s) or adventurous pursuits or hobbies","Accident Cover Option: nuclear contamination","Maternity Cover: complications from fertility treatments including in-vitro fertilization, IUI or other artificial methods","Maternity Cover: existing children and children conceived prior to Date of Commencement of Risk"],"display":"Suicide in first 12 months (premiums refunded); non-accidental death in first 90 days of a POS policy; plus exclusions for the optional Accident and Maternity covers","note":"The base death cover has no exclusion other than suicide; the policy says 'There are no restrictions on travel or occupation under this Policy.' The prospectus states a different suicide refund (higher of surrender value or premiums paid); see suicide_clause. Maternity Cover has further exclusions in Annexure B (pre-existing conditions not disclosed, STDs, drugs or alcohol, non-allopathic treatment, elective termination, etc.).","quote":"if the Life Insured commits suicide, within 12 (Twelve) months from the Date of Commencement of Risk of Policy or from the date of Revival of this Policy, as applicable, all risks and benefits under this Policy shall cease and in such an event. We will only refund the sum of Total Premiums Paid, loading for modal premium and Underwriting Extra Premium ... in case the Life Insured dies during the Waiting Period of 90 days from Date of Commencement of Risk due to any reason other than an Accident, We will refund 100% of the Total Premiums Paid till the date of death of the Life Insured and no other benefit will be payable ... Suicide or self-inflicted injury, whether the Life Insured is medically sane or insane. ... War, terrorism, invasion, act of foreign enemy, hostilities, civil war, martial law, rebellion, revolution, insurrection, military or usurper power, riot or civil commotion. ... Taking part in any naval, military or air force operation during peace time. ... Any condition that is pre-existing at the time of inception of the policy ... Committing an assault, a criminal offence, an illegal activity or any breach of law with criminal intent. ... Alcohol or Solvent abuse or taking of Drugs, narcotics or psychotropic substances unless taken in accordance with the lawful directions and prescription of a Medical Practitioner ... Poison, gas or fumes ... Service in the armed forces, or any police organization, of any country at war ... Participation in aviation other than as a fare-paying passenger ... Taking part in professional sport(s) or any adventurous pursuits or hobbies. ... Nuclear Contamination; ... the illness of the Life Insured or Life insured's infant arises directly or indirectly due to any complication resulting from fertility treatments including in-vitro fertilization, IUI or any other artificial methods; ... Existing children and children conceived prior to Date of Commencement of Risk are not covered.","sources":[{"clause":"5.1","heading":"SUICIDE EXCLUSION","page":32,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-5-1-2"},{"clause":"1.1.6(a)","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-6-a"},{"clause":"1","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-14"},{"clause":"2","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-12"},{"clause":"3","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-12"},{"clause":"4","heading":"Any condition that is pre-existing at the time of inception of the policy","page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-4-9"},{"clause":"5","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-5-12"},{"clause":"6","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-6-6"},{"clause":"7","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-7-5"},{"clause":"8","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-8-3"},{"clause":"9","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-9-3"},{"clause":"10","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-10-3"},{"clause":"11","heading":null,"page":43,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-11-3"},{"clause":"III(i)","heading":null,"page":42,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-iii-i"},{"clause":null,"heading":"IV. Exclusions applicable to the Maternity Cover","page":42,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-iv-exclusions-applicable-to-the-maternity-cover"}],"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 or the customer helpdesk (Helpline 1860 120 5577, service.helpdesk@axismaxlife.com) or any Axis Max Life office. If the response is unsatisfactory or there is none within 14 days, write to the Grievance Redressal Officer (manager.services@axismaxlife.com) or the IRDAI Grievance Cell (Bima Bharosa).","display":"Agent or customer helpdesk first, then the Grievance Redressal Officer after 14 days","note":"Insurance Ombudsman if not resolved within 1 month, or within 1 year of the insurer's rejection.","quote":"All consumer grievances and/or queries may be first addressed to Your agent or Our customer helpdesk as mentioned below: a) Axis Max Life Insurance Limited, Plot 90C, Urban Estate, Udyog Vihar Sector 18, Gurugram- 122015, Haryana, India, 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 ... 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: Grievance Redressal Officer, Axis Max Life Insurance Limited ... Email: manager.services@axismaxlife.com; ... the complainant may approach the Grievance Cell of the IRDAI on the following contact details: IRDAI Grievance Call Centre (Bima Bharosa Shikayat Nivaran Kendra)","sources":[{"clause":"1.1","heading":null,"page":35,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-9"},{"clause":"1.2","heading":"If Our response is not satisfactory or there is no response within 14 (Fourteen) days","page":35,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-2-11"},{"clause":"1.2.1","heading":null,"page":35,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-2-1-2"},{"clause":"1.2.2","heading":null,"page":35,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-2-2-3"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"cross-checked","value":"Minimum Base Sum Assured Rs. 5,00,000 for all plan variants; no maximum limit, subject to the Board approved underwriting policy.","display":"Minimum Rs. 5,00,000; no maximum (subject to underwriting)","note":"From the prospectus. Maternity Cover Option: 2 Lacs to 10 Lacs. Accident Cover Option: minimum Rs 50,000, at most three times the Sum Assured on Death. POS policies: multiples of INR 50,000. Income Protection Cover is chosen as a monthly income instead of a Base Sum Assured.","quote":"Minimum Sum Assured | Rs. 5,00,000 for all Plan variants except Optional Covers. For Maternity Cover Option: 2 Lacs For Accident Cover Option: Rs 50,000 Maximum Sum Assured | For Non POS: No Limit, subject to limits determined in accordance with the Board approved underwriting policy of the Company for all Plan variants Including Accident Cover Option For Maternity cover option – 10 Lacs ... For POS, the Base Sum Assured shall be in multiples of INR 50,000.","sources":[{"clause":"Row 8","heading":"Classic Cover","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-8"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"cross-checked","value":"The Guaranteed Death Benefit, the highest of: 10 times the Annualised Premium (1.25 times the single premium for Single Premium), 105% of Total Premiums Paid, or the Sum Assured on Death for the chosen Plan Variant.","display":"Highest of 10 times annualised premium (1.25 times single premium), 105% of premiums paid, or the variant's Sum Assured on Death","note":"Sum Assured on Death by variant: Regular Cover and Return of Premium equal to Base Sum Assured; Smart Cover 150% of Base Sum Assured until the 15th Policy Anniversary, then 100%; Early ROP Plus and Whole Life Cover fall to 50% of Base Sum Assured after the later of age 60 or entry age plus PPT plus 10 years; Income Protection Cover pays a monthly income for the higher of 120 months or the outstanding term; Credit Protect Cover reduces monthly with the Annual Interest Rate. Optional Accident Cover pays its sum assured in addition.","quote":"“Guaranteed Death Benefit” means the amount which will be highest of the following and payable to the Claimant in accordance with the Clause 1.1 of Part C of the Policy. a) For Single Premium Payment Variant – 1.25 times of the sum of single Premium and Underwriting Extra Premium, if any; For all other Premium payment variants – 10 times the sum of Annualised Premium and Underwriting Extra Premium, if any; or b) 105% of sum of Total Premiums Paid, Underwriting Extra Premium and loadings for modal premiums, if any, received till the date of death of the Life Insured; or c) “Absolute Amount Assured to be Paid on Death” which shall be the Sum Assured on Death payable as per the Plan Variant chosen by You. ... Smart Cover | The Sum Assured on Death will be equal to 150% of the Base Sum Assured until the 15th Policy Anniversary and then 100% of the Base Sum Assured after the completion of the 15th Policy Anniversary. ... in case of death of the Life Insured after this point, the Sum Assured on Death will be equal to 50% of the Base Sum Assured ... continue for each Policy month till higher of 120 months or the outstanding Policy Term in months. ... The Base Sum Assured will gradually reduce each month over the Policy Term of the Policy in accordance with the Annual Interest Rate.","sources":[{"clause":"21","heading":"“Guaranteed Death Benefit”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-21"},{"clause":"1.1.1","heading":null,"page":12,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-1"}],"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":"Only for Return of Premium (100% of Total Premiums Paid), Early ROP Plus and Whole Life Cover (the remaining 50% of Total Premiums Paid) Plan Variants. No Maturity Benefit for other Plan Variants.","display":"None, except return of premiums under Return of Premium (100%) and Early ROP Plus / Whole Life Cover (remaining 50%)","note":"Premiums for Maternity Cover, Accident Cover and riders are not refunded; with a discount only the discounted premiums are refunded. Early ROP Plus and Whole Life Cover also pay 50% of premiums as a Survival Benefit at the later of age 60 or entry age plus PPT plus 10 years.","quote":"The Maturity Benefit is only available if you have selected the ‘Return of Premium’, ‘Early ROP Plus’, or ‘Whole Life Cover’ Plan Variants. No Maturity Benefit is provided for other Plan Variants. • Return of Premium Cover: If the life insured survives the Policy Term, 100% of the Total Premiums Paid, including any underwriting extra premiums and modal premium loadings, will be refunded at the end of the Policy Term. • Early ROP Plus & Whole Life Cover: o In case of ‘Early ROP Plus’ and ‘Whole Life Cover’ Plan Variant, the remaining 50% of the Total Premiums Paid, including any Underwriting Extra Premiums and modal premium loadings, will be paid back if the Life Insured survives until the end of the Policy Term.","sources":[{"clause":"2","heading":"MATURITY BENEFIT","page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-3"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"cross-checked","value":"Single premium; limited pay of 5, 7, 10, 12 or 15 years (policy term at least 5 years longer); regular pay for the whole policy term; or Pay Till 60 (60 less entry age, minimum 16 years).","display":"Single, 5/7/10/12/15 years, regular (whole term) or pay till age 60","note":"Regular Pay is not available in Smart Cover, Early ROP Plus and Whole Life Cover (prospectus). Single Pay is not available for Credit Protect Cover (prospectus).","quote":"“Limited Premium Payment Option” means where the Premium Payment Term which is either 5, 7, 10, 12 or 15 years with Policy Term ranging from 10 years to 67 years’ subject to the Policy Term being greater than the Premium Payment Term by at least 5 years; ... “Pay Till 60 Premium Payment Option” means that the Premium payable to Us during the Premium Payment Term shall be equal to 60 less Age, subject to minimum Premium Payment Term of 16 years. ... “Regular Premium Payment Option” means that the Premium payable to Us in regular installments throughout the Premium Payment Term which is the same as the Policy Term ... “Single Premium Payment Option” means where the Premium is received in full in advance of the Date of Commencement of Risk;","sources":[{"clause":"27","heading":"“Limited Premium Payment Option”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-27"},{"clause":"36","heading":"“Pay Till 60 Premium Payment Option”","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-36"},{"clause":"46","heading":"“Regular Premium Payment Option”","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-46"},{"clause":"57","heading":"“Single Premium Payment Option”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-57"}],"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 85 years for most variants; 100 years for Whole Life Cover; 65 years for POS policies.","display":"85 years (100 for Whole Life Cover)","note":"From the prospectus. Age last birthday. 85 years applies to Regular Cover, Early ROP Plus, Smart Cover, Return of Premium, Income Protection Cover, Credit Protect Cover and Classic Cover. POS policies (Regular Cover, Return of Premium, Classic Cover): 65 years.","quote":"Regular Cover | 28 years | 85 years ... Whole Life Cover | 100 years | 100 Years ... Credit Protect Cover | 23 years | 85 years ... Plan Variant | Maximum Maturity Age (Age last birthday) Regular Cover | 65 years","sources":[{"clause":null,"heading":"Entry Age","page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-entry-age"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"conflicting","value":"If the Life Insured commits suicide within 12 months from the Date of Commencement of Risk or Revival, all benefits cease and only Total Premiums Paid, modal loading and Underwriting Extra Premium are refunded.","display":"Within 12 months of start or revival: only premiums paid refunded","note":"Prospectus says the nominee gets the 'Higher of surrender value available as on date of death or total premiums paid' (CIS matches the policy wording). For a Lifeline Plus top-up, the suicide clause applies to the top-up for 12 months from the top-up.","quote":"if the Life Insured commits suicide, within 12 (Twelve) months from the Date of Commencement of Risk of Policy or from the date of Revival of this Policy, as applicable, all risks and benefits under this Policy shall cease and in such an event. We will only refund the sum of Total Premiums Paid, loading for modal premium and Underwriting Extra Premium, if any, received under the Policy by Us till the death of the Life Insured to the Claimant. ... Higher of surrender value available as on date of death or total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid exclusive of all applicable taxes, cesses and levies till the date of death.","sources":[{"clause":"5.1","heading":"SUICIDE EXCLUSION","page":32,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-5-1-2"},{"clause":"Section D","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-section-d"}],"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":"Regular Cover, Smart Cover, Income Protection and Credit Protect: Early Exit Value of 70% x premiums paid x (unexpired term / policy term), available immediately for single pay and after the full premium payment term for limited pay; none for regular pay. A Special Exit Value returning all premiums paid is available from the 25th policy year (not in the last 4 years, term 30 years or more). Return of Premium, Early ROP Plus and Whole Life Cover: higher of Guaranteed and Special Surrender Value, acquired after two full years' premiums (immediately for single pay).","display":"Early Exit Value for pure term variants (none under regular pay); surrender value after 2 years' premiums for ROP variants","note":"Credit Protect Cover Early Exit Value is further multiplied by the current Guaranteed Death Benefit / Sum Assured on Death at inception, and it has no Special Exit Value. Guaranteed Surrender Value factors for limited / regular pay: 30% in year 2 rising to 90%; single pay 75% to 90%.","quote":"If You have not opted for ‘Return of Premium’, ‘Early ROP Plus’ and ‘Whole Life Cover’ Cover Plan Variants, the Surrender benefit will be higher of Early Exit Value or Special Exit Value (if applicable) ... a) For Single Premium Payment Option: immediately after payment of Single Premium. ... b) For Limited Premium Payment Option including Pay Till 60 Premium Payment Option: Upon completion of Premium Payment Term on receipt of all due Premiums. ... c) Regular Premium Payment Option: No Early Exit Value is applicable or payable. ... 70% x (Sum of Total Premiums Paid, Underwriting Extra Premium and loadings for modal premiums, if any) x (unexpired Policy Term/ Policy Term). ... Special Exit Value: You shall be allowed a Special Exit Value, wherein We will return sum of Total Premiums Paid, Underwriting Extra Premiums, loadings for modal premiums, if any, and total premiums paid for Optional Accident Cover premium, if any, only if You Surrender the Policy. Special Exit Value can be obtained in any Policy Year, starting Policy Year 25th, but not during the last 4 Policy Years. ... iii) Special Exit Value shall not be available for Policy Term less than 30 years. ... v) Special Exit Value shall not be applicable for Credit Protect Cover Plan Variant. 1.1.2.If You have opted for ‘Return of Premium’, ‘Early ROP Plus’ or ‘Whole Life Cover’ and You discontinue paying Premium or You surrenders the Policy, then: 1.1.2.1. The Policy shall acquire Guaranteed Surrender Value (“Surrender Value”), subject to the following criteria: ... b) Limited Premium Payment Option including Pay Till 60 Premium Payment Option and Regular Premium Payment Option: on receipt of two full year Premium. 1.1.2.2 The Surrender Value is the higher of Guaranteed Surrender Value or Special Surrender Value.","sources":[{"clause":"1.1","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-7"},{"clause":"1.1(a)","heading":"For Single Premium Payment Option","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-a"},{"clause":"1.1(b)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-b"},{"clause":"1.1(c)","heading":"Regular Premium Payment Option","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-c"},{"clause":"1.1(c)(i)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-c-i"},{"clause":"1.1(c)(ii)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-c-ii"},{"clause":"1.1(c)(iii)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-c-iii"},{"clause":"1.1(c)(v)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-c-v"},{"clause":"1.1(a)","heading":"For Single Premium Payment Option","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-a-2"},{"clause":"1.1(b)","heading":null,"page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-b-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":"Only under Return of Premium, Early ROP Plus and Whole Life Cover: once the policy has a Surrender Value, unpaid premiums make it Reduced Paid-Up, with the death benefit reduced in the ratio of premiums paid period to premium payment period; the return of premiums at maturity is still paid. Other variants have no paid-up value; an Early Exit Value is paid if not revived.","display":"Reduced paid-up only for Return of Premium, Early ROP Plus and Whole Life Cover","note":"Reduced Paid-Up Terminal Illness Benefit is capped at Rs.1 Crore. A paid-up policy lapses if the Reduced Paid-Up Sum Assured is below Rs. 2500. For Early ROP Plus and Whole Life Cover the paid-up sum assured further halves at the later of age 60 or entry age plus PPT plus 10.","quote":"REDUCED PAID-UP BENEFIT/ NON-FORFEITURE OPTIONS (only applicable for ‘Return of Premium’, ‘Early ROP Plus’ and ‘Whole Life Cover’) If ‘Return of Premium’, or ‘Early ROP Plus’ or ‘Whole Life Cover’ Plan Variants was chosen by You at the Date of Inception of Policy and Policy has acquired a Surrender Value as specified under Clause 1 of Part D, then, in the event of non-payment of the due Premiums by You to Us, on the expiry of the Grace Period, this Policy will not become a Lapsed Policy and by default will continue under Reduced Paid-Up Mode unless revived. ... Reduced Paid-Up Sum Assured=Reduced Paid-Up Factor * Sum Assured applicable before Policy moved to Reduced Paid-Up Mode. Reduced Paid-Up Factor = Ratio of the “total period for which Premiums have already been paid” to the “maximum period for which Premiums were originally payable.” ... Under the Return of Premium Plan Variant, if the Life Insured has survived until the Maturity Date, 100% of the Sum of Total Premiums Paid, Underwriting Extra Premium and loadings for modal premiums, if any will be paid at end of Policy Term. ... b) Other than the ‘Return of Premium’, ‘Early ROP Plus’ and ‘Whole Life cover’ Plan Variant: If the Policy is not revived within a Revival Period from the due date of first unpaid Premium, an Early Exit Value shall be paid to the You and the Policy shall be terminated.","sources":[{"clause":"3","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-2"},{"clause":"3.1(a)","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-1-a"},{"clause":"3.3","heading":"Reduced Paid –Up Maturity Benefit","page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-3"},{"clause":"3.7(b)","heading":null,"page":28,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-7-b"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"cross-checked","value":"Within 5 consecutive years from the due date of the first unpaid premium, with evidence of insurability and overdue premiums plus interest.","display":"5 years from the first unpaid premium","note":"Revival interest: nil up to 60 days; RBI Bank Rate + 1% (currently 6.50%) for 61-180 days; RBI Bank Rate + 3% (currently 8.50%) after 180 days. Revival is subject to the underwriting policy and cannot go beyond the Policy Term.","quote":"“Revival Period” means a period of 5 (Five) consecutive years from the due date of the first unpaid Premium; ... if You produce evidence of insurability (in form of declaration of health condition and/or relevant medical reports) of Life Insured at Your own cost which is acceptable to Us; and ... 0-60 | Nil | 0.00% 61-180 | RBI Bank Rate + 1% p.a. compounded annually on due Premiums | 6.50% >180 | RBI Bank Rate + 3% p.a. compounded annually on due Premiums | 8.50% ... The Policy cannot be revived beyond the Policy Term.","sources":[{"clause":"53","heading":"“Revival Period”","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-53"},{"clause":"3.2","heading":null,"page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-2-3"},{"clause":"3.3","heading":null,"page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-3-2"},{"clause":"3.6","heading":null,"page":28,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-3-6"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"cross-checked","value":"Yes, only under Return of Premium, Early ROP Plus and Whole Life Cover once the policy has a Surrender Value: minimum INR 10,000, maximum 75% of the Surrender Value, interest at RBI Bank Rate plus 3.0% (currently 8.50% p.a.). No loans under other variants.","display":"Yes for Return of Premium, Early ROP Plus and Whole Life Cover, up to 75% of surrender value; no for other variants","note":"A Reduced Paid-Up policy terminates if loan plus interest exceeds the Surrender Value.","quote":"If You have opted for Return of Premium, Early ROP Plus and Whole Life Cover as Plan Variants and once this Policy has acquired the Surrender Value, then, You will be eligible for grant of loans from Us. ... The minimum amount of loan which can be granted by Us under this Policy is INR 10,000 (Rupees Ten Thousand). In no event shall the maximum amount of loan which can be granted under this Policy during the Policy Term exceed 75% (Seventy-Five percent) of the Surrender Value ... The loan interest rate shall be equal to applicable ‘RBI Bank Rate’ plus 3.0%. The current loan interest rate is 8.50% p.a. compounded annually ... If You have not opted for ‘Early Rop Plus’, ‘Whole Life’ Cover and ‘Return of Premium’ Plan Variant, You are not entitled to any loans under this Policy.","sources":[{"clause":"2.1","heading":null,"page":26,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-1"},{"clause":"2.2","heading":null,"page":26,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-2-2"},{"clause":"2.5","heading":null,"page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-5"},{"clause":"2.9","heading":null,"page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-9"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"cross-checked","value":["Maternity Cover Option (optional cover)","Accident Cover Option (optional cover)","Axis Max Life Waiver of Premium Plus Rider (UIN: 104B029V06)","Axis Max Life Critical Illness and Disability Rider (UIN: 104B033V03)","Axis Max Life Accidental Death and Dismemberment Rider (UIN: 104B027V05)"],"display":"Maternity Cover and Accident Cover options; Waiver of Premium Plus, Critical Illness and Disability, and Accidental Death and Dismemberment riders","note":"All for extra premium. The Maternity Cover Option and Accident Cover Option are optional covers inside this product; the three riders are separate products. Riders are not available with Single Pay; no optional cover or rider for point-of-sale policies; the Accident Cover Option, ADD Rider and Maternity Cover are not available under Credit Protect Cover; only one of the Accident Cover Option or the ADD Rider can be taken. Maternity Cover is for female lives only.","quote":"Optional Benefits/Riders available under the plan (on payment of additional premiums) ... 1 | Maternity Cover Option | ... 2 | Accident Cover Option | Additional coverage against the risk of Accidental death. ... A. Axis Max Life Waiver of Premium Plus Rider (UIN:104B029V06) ... B. Axis Max Life Critical Illness and Disability Rider (UIN: 104B033V03) ... C. Axis Max Life Accidental Death and Dismemberment Rider (UIN: 104B027V05) ... iii) The rider is not available under the Single Pay PPT of the product. ... vii) Only one accident cover can be selected with the base plan variant: either the Accident Cover Option or the ADD rider. ... No other optional cover (Maternity Cover or Accident Cover) or rider would be applicable for POS. ... Accident Cover Option and Axis Max Life Accidental Death and Dismemberment (ADD) Rider are not available under Credit Protect Cover Plan Variant.","sources":[{"clause":"Section B","heading":"Other features","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-section-b"},{"clause":"Row 1","heading":"Maternity Cover Option","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-1-2"},{"clause":"Row 2","heading":"Accident Cover Option","page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-2-2"},{"clause":null,"heading":"Riders available under the plan","page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-riders-available-under-the-plan"},{"clause":"Row 5(f)(vi)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-5-f-vi"},{"clause":"Row 5(f)(iii)","heading":null,"page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-5-f-iii"},{"clause":"Row 5(f)(vii)","heading":null,"page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-row-5-f-vii"},{"clause":"Section C","heading":"Plan at a Glance","page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-section-c"},{"clause":"1.8.4","heading":"Accident Cover Option and Axis Max Life Accidental Death and Dismemberment (ADD) Rider are","page":21,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-8-4"}],"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 called in question on any ground after 3 years from issue, risk commencement, revival or rider date, whichever is later. Within 3 years it can be questioned only for fraud or for an incorrect statement of a fact material to life expectancy; if repudiated for mis-statement (not fraud), premiums are refunded within 90 days.","display":"Not questionable after 3 years; within 3 years only for fraud or material mis-statement","note":null,"quote":"No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 yrs from a. the Date of Issuance of Policy or b. the Date of Commencement of Risk or c.the date of Revival of pPolicy or d. the date of rider to the Policy, whichever is later. 2.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 or other document basis which policy was issued or revived or rider issued. ... In case repudiation is on ground of mis-statement and not on fraud, the premium collected on policy till the date of repudiation shall be paid to the insured or legal representative or nominee or assignees of insured, within a period of 90 days from the date of repudiation.","sources":[{"clause":"Section 45","heading":"Policy shall not be called in question on the ground of mis-statement after three years","page":44,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-section-45"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"cross-checked","value":"Tax benefits may be available as per prevailing tax laws, which are subject to change; consult a tax advisor.","display":"Tax benefits may be available as per prevailing tax laws","note":"No tax section is named.","quote":"Tax benefits may be available as per prevailing tax laws. Tax laws, their interpretation and/or application, including benefits arising thereunder are subject to change. You are advised to consult your tax advisor regarding the tax benefits and liabilities applicable to you.","sources":[{"clause":"1.3","heading":null,"page":31,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#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 of premium less proportionate risk premium, stamp duty and medical examination expenses, if no claim has been made.","quote":"“Free look” means a period of 30 days beginning from the date of receipt of the Policy, to review the terms and conditions of the Policy.","sources":[{"clause":"6","heading":"FREELOOK CANCELLATION","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-6-3"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"cross-checked","value":{"unit":"days","amount":30},"display":"30 days (15 days for monthly mode)","note":"15 days for monthly premiums. Cover continues during the grace period; unpaid premium is deducted from a death claim. Not relevant to Single Premium policies.","quote":"The Grace Period for payment of the Premium for this Policy shall be 15 (Fifteen) days where You are paying on a monthly basis and 30 (Thirty) days in all other cases;","sources":[{"clause":"20","heading":"“Grace Period”","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-20"}],"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 18 years; maximum 65 years for most variants (50 years for Early ROP Plus and Whole Life Cover; 44 years with Pay Till 60).","display":"18 to 65 years (varies by variant and premium option)","note":"From the prospectus. Age last birthday. POS policies: maximum 55 years (44 with Pay Till 60). Maternity Cover Option: 18 to 40 years.","quote":"Regular cover | 18 years | 44 years (For Pay till 60) 65 years (For RP, SP & other LP options) Early ROP Plus | 18 years | 44 years (For Pay till 60) 50 years (For SP & other LP options) ... Whole Life Cover | 18 years | 44 years (For Pay till 60) 50 years (For SP & other LP options) ... Maternity Cover Option | 18 years | 40 years ... Regular Cover | 18 Years | For RP, SP and other LP options: 55 years For Pay till age 60: 44 years","sources":[{"clause":"Section C","heading":"Plan at a Glance","page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-section-c"},{"clause":null,"heading":"Entry Age","page":27,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-entry-age"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"cross-checked","value":["Annually","Semi-annually","Quarterly","Monthly"],"display":"Annual, semi-annual, quarterly or monthly","note":"Single premium is also offered as a premium payment option. Modal factors: semi-annual 0.513, quarterly 0.261, monthly 0.088. The mode can be changed during the Premium Payment Term.","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":"4.2","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-4-2-2"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"cross-checked","value":["Single Premium Payment Option","Limited Premium Payment Option","Regular Premium Payment Option","Pay Till 60 Premium Payment Option"],"display":"Single, limited, regular or pay till 60","note":"Chosen at inception and cannot be changed. Regular Pay is not available in Smart Cover, Early ROP Plus and Whole Life Cover (prospectus).","quote":"You shall have a choice between the Single Premium Payment Option, Limited Premium Payment Option, Regular Premium Payment Option or Pay Till 60 Premium Payment Option for Premium payments.","sources":[{"clause":"4.1","heading":"You shall have a choice between the Single Premium Payment Option, Limited Premium Payment","page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-4-1"}],"law":[]},{"key":"return_of_premium","label":"Return of premium option","section":"Cover","meaning":"Whether premiums come back if you survive the term, and at what cost. 'No' only when the document says no maturity benefit is payable.","status":"cross-checked","value":"Yes, by choosing the Return of Premium variant (100% of Total Premiums Paid at the end of the term) or Early ROP Plus / Whole Life Cover (50% at the later of age 60 or entry age plus PPT plus 10, and 50% at the end of the term), at a higher premium than Regular Cover.","display":"Yes, under Return of Premium, Early ROP Plus and Whole Life Cover variants","note":"Sample annual premium for Rs 1 crore cover, male non-smoker aged 30, regular pay: Regular Cover Rs 12,970 vs Return of Premium Rs 26,190 (prospectus). Optional cover and rider premiums are not returned. Other variants pay no maturity benefit.","quote":"Return of Premium Cover: If the life insured survives the Policy Term, 100% of the Total Premiums Paid, including any underwriting extra premiums and modal premium loadings, will be refunded at the end of the Policy Term. ... In case Life Insured survives the higher of: (i) Age 60 or (ii) the Age on the Date of Commencement of Risk plus the Premium Payment Term plus 10 years, We will pay 50% of Total Premiums Paid including any underwriting extra premiums and modal premium loadings. ... Below are the premiums applicable for a sample nonsmoker male life aged 30 years and 1 month old and coverage till age 70 years ... Regular Cover | 1 crore | 2,82,672 | 60,652 | 43,546 | 30,502 | 26,234 | 24,119 | 15,623 | 12,970 ... Return of Premium | 1 crore | 4,10,311 | 84,672 | 61,779 | 43,412 | 43,236 | 43,140 | 30,301 | 26,190","sources":[{"clause":"2","heading":"MATURITY BENEFIT","page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-2-3"},{"clause":"5(i)","heading":null,"page":24,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-5-i"},{"clause":null,"heading":"Sample Premium Rates","page":8,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-sample-premium-rates"}],"law":[]},{"key":"payout_options","label":"Payout options","section":"Cover","meaning":"Lump sum, monthly income, or a mix for your family.","status":"cross-checked","value":"At claim stage the Claimant can choose a lump sum (default), monthly income over 10, 20 or 30 years, or part lump sum (in multiples of 10%) and part monthly income. Income Protection Cover always pays a monthly income.","display":"Lump sum, monthly income over 10/20/30 years, or a mix","note":"Monthly income is based on the RBI Bank Rate less 1% and can be commuted. Under Income Protection Cover the income runs for the higher of 120 months or the outstanding term and can be commuted at the 10-year G-Sec yield plus 2%. Accident Cover, Terminal Illness and Maternity claims are lump sum only.","quote":"The Claimant at claim stage will have the option to choose from one of the following payout options (except in Income Protection Variant) . In case no payout option is selected by the Claimant, then the payout option 1 (lump sum Guaranteed Death Benefit) will be considered as the default payout option: ... b) Payout option 2 – monthly income - monthly payment for a fixed period of 10/20/30 years ... c) Payout option 3 – partial Guaranteed Death Benefit plus part monthly income ... The lump sum proportion shall be in multiples of 10% of Guaranteed Death Benefit. ... The option to convert lump sum payout into monthly income payout shall not be available under claims against Accident Cover Option, Terminal Illness and Maternity Cover Option.","sources":[{"clause":"1.1.2","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-2"},{"clause":"1.1.2(b)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-2-b"},{"clause":"1.1.2(c)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-2-c"},{"clause":"1.1.5","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-1-5"}],"law":[]},{"key":"terminal_illness","label":"Terminal illness benefit","section":"Cover","meaning":"Whether part of the cover is paid early on diagnosis of a terminal illness.","status":"cross-checked","value":"Yes, built in: on Diagnosis of Terminal Illness, 100% of the Guaranteed Death Benefit, up to Rs. 1 Crore, is paid in advance and reduces the death benefit; future premiums are waived.","display":"Yes, 100% of death benefit up to Rs. 1 Crore, paid early","note":"Terminal Illness means expected death within six months, certified by a specialist. Income Protection Cover: monthly income starts on diagnosis (capped at Rs. 1 Crore). The prospectus says it is not available under the Classic Cover variant. Accident Cover Option ends on diagnosis.","quote":"upon Diagnosis of Life Insured with a Terminal Illness, during the Policy Term, We will pay 100% of the Guaranteed Death Benefit (subject to maximum of Rs. 1 Crore) as accelerated Terminal Illness Benefit to the Claimant (except under Income Protection Cover Plan Variant). ... all Premiums (including the Premium for base Policy and optional benefits including Maternity Cover Option and Accident Cover Option, if any) falling due from the date of Diagnosis of Terminal Illness would be waived off","sources":[{"clause":"1.2.1","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-2-1"},{"clause":"1.2.6","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-2-6"}],"law":[]},{"key":"increasing_cover","label":"Increasing or life-stage cover","section":"Cover","meaning":"Options to raise cover over time or at marriage or childbirth.","status":"cross-checked","value":"Lifeline Plus: a female Life Insured can top up her Base Sum Assured once after her spouse's death (after the 3rd Policy Anniversary, between 6 months and 2 years after the death, up to age 50) by the lower of 50% of Base Sum Assured or ₹50 lakh, with medical underwriting; Regular Cover and Return of Premium only.","display":"Lifeline Plus top-up for women after a spouse's death, up to 50% of Base Sum Assured or ₹50 lakh","note":"No marriage or childbirth increase option is stated. Sum Assured Booster: Regular Cover and Return of Premium buyers entitled to a discount can instead take 2% (regular pay) or 3% (single / limited pay) more Base Sum Assured.","quote":"The Lifeline Plus Top-Up Sum Assured option allows a female Life Insured to increase her Base Sum Assured following the death of her spouse, provided the Policy is force, and the following conditions are met: I) The option can be exercised only after completion of 3rd Policy Anniversary. II) The option can be exercised only after 6 months and within 2 years of the spouse’s death. III) The maximum amount for the top-up will be the lower of 50% of the Base Sum Assured or ₹50 lakh. IV) The top-up is subject to complete medical underwriting as per the Underwriting Policy. ... VIII) The option can be exercised up to a maximum attained Age of 50 years. ... XV) This option is available under the 'Regular Cover' and 'Return of Premium' Plan Variants.","sources":[{"clause":"1.5.1","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-5-1"}],"law":[]},{"key":"waiver_of_premium","label":"Waiver of premium","section":"Cover","meaning":"Whether future premiums stop on disability or critical illness.","status":"cross-checked","value":"Not built in for disability or critical illness; available through the optional Axis Max Life Waiver of Premium Plus Rider (waives future premiums on critical illness, dismemberment, or the policyholder's death). Premiums are waived automatically after a Terminal Illness claim.","display":"Through the optional Waiver of Premium Plus Rider; premiums also waived after a Terminal Illness claim","note":"The rider costs extra premium and is not available with Single Pay.","quote":"A. Axis Max Life Waiver of Premium Plus Rider (UIN:104B029V06): This rider provides waiver of all future premiums under a policy and all other attaching riders on earlier happening of either of the following events provided the base policy and attaching riders are in force: − Critical Illness; or − Dismemberment; or − Death (only when Life Insured and Policyholder are different individuals, rider benefit will be paid on death of the Policyholder) ... all Premiums (including the Premium for base Policy and optional benefits including Maternity Cover Option and Accident Cover Option, if any) falling due from the date of Diagnosis of Terminal Illness would be waived off","sources":[{"clause":null,"heading":"Riders available under the plan","page":16,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265#c-riders-available-under-the-plan"},{"clause":"1.2.6","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264#c-1-2-6"}],"law":[]},{"key":"medicals","label":"Medical tests","section":"Eligibility","meaning":"Whether medical tests are needed, and at what cover.","status":"not-stated","value":null,"display":null,"note":"The documents do not say when medical tests are required. They mention the expenses incurred on medical examination (deducted on free-look), Underwriting Extra Premium based on the medical examination report, and complete medical underwriting for a Lifeline Plus top-up.","quote":null,"sources":[],"law":[]}],"documents":[{"kind":"wording","label":"Policy Contract","pages":46,"fetched_at":"2026-10-16 07:11:49.201388+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/STPP-Policy-Document.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/264"},{"kind":"prospectus","label":"Policy Prospectus","pages":41,"fetched_at":"2026-10-16 07:11:49.201388+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/STPP-Prospectus.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/265"},{"kind":"cis","label":"Customer Information Sheet","pages":5,"fetched_at":"2026-10-16 07:11:49.201388+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/STPP-CIS.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/266"},{"kind":"brochure","label":"Policy Leaflet","pages":15,"fetched_at":"2026-10-16 07:11:49.201388+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/STPP-Leaflet.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01/document/267"}],"versions":[{"uin":"104N127V01","version":null,"approved_on":null},{"uin":"104N132V01","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 Term Plan Plus (UIN 104N132V01), IndiaInsurances, https://indiainsurances.com/policy/axis-max-life-insurance/axis-max-life-smart-term-plan-plus-104n132v01"}