{"uin":"104N160V01","name":"Smart Retirement Income with Sustained Earnings Plan","url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01","insurer":{"slug":"axis-max-life-insurance","name":"Axis Max Life Insurance Limited","url":"https://indiainsurances.com/insurer/axis-max-life-insurance"},"line":"life","category":"pension-annuity","category_name":"Pension and annuity","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"Axis Max Life Smart Retirement Income with Sustained Earnings Plan is a non-linked non-participating individual or group general annuity savings plan with immediate and deferred annuity variants. It offers single or joint life annuities, return of purchase price variants, an optional variable annuity payout option, and no maturity benefit.","analysis":{"state":"machine","analysed_at":"2026-10-20 00:42:22.80885+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Immediate Life Annuity","Immediate Life Annuity with Return of Purchase Price","Deferred Life Annuity with Return of Purchase Price"],"display":"Immediate Life Annuity; Immediate Life Annuity with Return of Purchase Price; Deferred Life Annuity with Return of Purchase Price","note":null,"quote":"The following Annuity Variants are available in the Policy:\na) Immediate Life Annuity;\nb) Immediate Life Annuity with Return of Purchase Price;\nc) Deferred Life Annuity with Return of Purchase Price;","sources":[{"clause":"7","heading":"“Annuity Variant”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-7"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"The policy term runs from commencement of risk until death of the annuitant, or until death of the last surviving annuitant for joint life policies.","display":"Till death of the annuitant, or till death of the last surviving annuitant for joint life","note":null,"quote":"“Policy Term” means the period commencing on the Date of Commencement of Risk till the death of the Annuitant or till the death of the last surviving Annuitant in case of joint life Policy;","sources":[{"clause":"31","heading":"“Policy Term”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-31"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"not-stated","value":null,"display":null,"note":"The documents list claim documents and proof-of-living submission requirements, but do not state a deadline for intimating a death claim.","quote":null,"sources":[],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["Claimant’s statement in the prescribed form (death claim application form -form A)","original Policy document","a copy of death certificate issued by the local/municipal authority (if applicable)","identity proof of the Claimant bearing their photographs and signature","discharge summary / indoor case papers in case death happened due to medical reasons in a hospital","Bank details of Claimant including copy of bank passbook / cancelled cheque","NEFT mandate form attested by bank authorities","Living Certificate in the format prescribed by Us"],"display":"Death claim form, original policy, death certificate, claimant identity proof, hospital records where applicable, bank details, NEFT mandate, and living certificate for survival benefit","note":"Additional documents may be required for death outside India, defence or central government personnel, medical or natural death, other insurance details, employer records, and any other documents or information required by the insurer.","quote":"For Death benefit: For processing a claim request for the Death Benefit (if applicable) under the Policy, We will require all of the following documents: ... Claimant’s statement in the prescribed form (death claim application form -form A); ... original Policy document; ... a copy of death certificate issued by the local/municipal authority (if applicable); ... identity proof of the Claimant bearing their photographs and signature; ... discharge summary / indoor case papers in case death happened due to medical reasons in a hospital; ... Bank details of Claimant including copy of bank passbook / cancelled cheque; ... NEFT mandate form attested by bank authorities; and ... the Annuitant (the last surviving Annuitant in case of death of any annuitant for joint life Annuity) or Appointee in case of minor is required to submit to Us a Living Certificate in the format prescribed by Us","sources":[{"clause":"3.1","heading":"For Death benefit","page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-2"},{"clause":"3.1.1","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-1"},{"clause":"3.1.2","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-2-2"},{"clause":"3.1.3","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-3"},{"clause":"3.1.4","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-4"},{"clause":"3.1.5","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-5"},{"clause":"3.1.11","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-11"},{"clause":"3.1.13","heading":"NEFT mandate form attested by bank authorities; and","page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-1-13"},{"clause":"3.2.1","heading":null,"page":23,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-3-2-1"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"not-stated","value":null,"display":null,"note":"The CIS refers to Service TATs, but the provided product documents do not state a claim decision or payment time counted from intimation or last document.","quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["There are no exclusions in this Policy","Death Benefit shall be payable even in case of death due to suicide"],"display":"No exclusions; death benefit payable even in case of death due to suicide","note":null,"quote":"There are no exclusions in this Policy. Death Benefit shall be payable even in case of death due to suicide.","sources":[{"clause":"18","heading":"EXCLUSIONS","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-18-2"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"First address grievances or queries to the agent, customer helpdesk, or any Axis Max Life office. If the response is not satisfactory or there is no response within 14 days, file a written complaint to the Grievance Redressal Officer before approaching IRDAI or the Insurance Ombudsman.","display":"First agent/customer helpdesk or any office; then Grievance Redressal Officer if no satisfactory response within 14 days","note":null,"quote":"All consumer grievances and/or queries may be first addressed to Your agent or Our customer helpdesk as mentioned below: ... b) To any office of Axis Max Life Insurance Limited. ... If Our response is not satisfactory or there is no response within 14 (Fourteen) days ... the complainant may file a written complaint with full details of the complaint and the complainant’s contact information to the following official for resolution:\nGrievance Redressal Officer, Axis Max Life Insurance Limited","sources":[{"clause":"1.1","heading":null,"page":26,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-3"},{"clause":"1.2","heading":"If Our response is not satisfactory or there is no response within 14 (Fourteen) days","page":26,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-2-4"},{"clause":"1.2.1","heading":null,"page":26,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-2-1-2"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"The amount payable on death depends on the annuity variant: no death benefit for Immediate Life Annuity, Total Premiums Paid for Immediate Life Annuity with Return of Purchase Price, and for Deferred Life Annuity with Return of Purchase Price the higher of Total Premiums Paid plus accrued Guaranteed Additions and 105% of Total Premiums Paid during deferment, or Total Premiums Paid after deferment.","display":"Death cover by variant: none; Total Premiums Paid; or higher of Total Premiums Paid plus Guaranteed Additions and 105% of Total Premiums Paid during deferment","note":"In joint life policies, the death benefit is payable only on death of the last surviving annuitant.","quote":"a) In case of the ‘Immediate Life Annuity’ Annuity Variant, no Death Benefit will be payable. ... We will pay Total Premiums Paid to the Claimant as Death Benefit and Policy will terminate. ... In case of death during the Deferment Period, We will pay the higher of:\n• Total Premiums Paid (including loading of modal premiums, if any) plus accrued Guaranteed Additions; and\n• 105% of Total Premiums Paid (including loading of modal premiums, if any) ... In case of death after the Deferment Period, We will pay Total Premiums Paid (including loading of modal premiums, if any) to the Claimant as Death Benefit and Policy will terminate.","sources":[{"clause":"1.1(a)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-a"},{"clause":"1.1(b)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-b"},{"clause":"1.1(c)(i)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-c-i"},{"clause":"1.1(c)(ii)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-c-ii"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"Immediate Life Annuity pays no death benefit. Immediate Life Annuity with Return of Purchase Price pays Total Premiums Paid on death of the annuitant or last surviving annuitant, while Deferred Life Annuity with Return of Purchase Price pays the higher of Total Premiums Paid plus accrued Guaranteed Additions and 105% of Total Premiums Paid during deferment, or Total Premiums Paid after deferment.","display":"No death benefit for Immediate Life Annuity; Total Premiums Paid for Immediate Life Annuity with ROPP; deferred ROPP pays higher of Total Premiums Paid plus Guaranteed Additions and 105% during deferment, or Total Premiums Paid after deferment","note":"If annuity is paid after the date of death, the insurer deducts an amount equal to such annuity paid from the death benefit, if any.","quote":"a) In case of the ‘Immediate Life Annuity’ Annuity Variant, no Death Benefit will be payable. ... b) In case of the ‘Immediate Life Annuity with Return of Purchase Price’ Annuity Variant, on the death of the Annuitant or upon the death of last surviving Annuitant in case of joint life Policy, We will pay Total Premiums Paid to the Claimant as Death Benefit and Policy will terminate. ... In case of death during the Deferment Period, We will pay the higher of:\n• Total Premiums Paid (including loading of modal premiums, if any) plus accrued Guaranteed Additions; and\n• 105% of Total Premiums Paid (including loading of modal premiums, if any) ... In case of death after the Deferment Period, We will pay Total Premiums Paid (including loading of modal premiums, if any) to the Claimant as Death Benefit and Policy will terminate.","sources":[{"clause":"1.1(a)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-a"},{"clause":"1.1(b)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-b"},{"clause":"1.1(c)(i)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-c-i"},{"clause":"1.1(c)(ii)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-c-ii"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"No maturity benefit is payable under the policy.","display":"No maturity benefit","note":null,"quote":"No maturity benefit is payable under the Policy.","sources":[{"clause":"1.3","heading":"MATURITY BENEFIT","page":9,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-3"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Immediate Life Annuity Variants 1 and 2 are Single Pay. Deferred Life Annuity Variant 3 is Single Pay or Limited Pay for 2 to 12 years.","display":"Single Pay for Immediate Life Annuity variants; Single Pay or Limited Pay (2 to 12 years) for Deferred Life Annuity","note":"Eligibility and premium term details are from the prospectus.","quote":"Premium Payment Term | For Immediate Life Annuity Variants (1 & 2): Single Pay For Deferred Life Annuity Variants (3): Single Pay & Limited Pay (2 to 12 years)","sources":[{"clause":null,"heading":"Annuity payout criteria","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-annuity-payout-criteria"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"There is no maximum maturity age stated because the policy term runs until death of the annuitant or last surviving annuitant.","display":"No maximum maturity age stated; term is till death or last survivor","note":"The documents state maximum vesting age for deferred annuity, but not a maximum age at which the annuity cover ends.","quote":"“Policy Term” means the period commencing on the Date of Commencement of Risk till the death of the Annuitant or till the death of the last surviving Annuitant in case of joint life Policy;","sources":[{"clause":"31","heading":"“Policy Term”","page":7,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-31"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"Death benefit is payable even in case of death due to suicide; the prospectus states that for suicide within 12 months, the nominee or beneficiary is entitled to the death benefit mentioned in the Death Benefit section.","display":"Death benefit payable even in suicide, including suicide within 12 months as per the Death Benefit section","note":null,"quote":"There are no exclusions in this Policy. Death Benefit shall be payable even in case of death due to suicide. ... 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. In such cases, the nominee or beneficiary of the policyholder shall be entitled to death benefit as mentioned in Death Benefit Section.","sources":[{"clause":"18","heading":"EXCLUSIONS","page":25,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-18-2"},{"clause":"12(iii)","heading":null,"page":20,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-12-iii"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"No surrender benefit is payable for Immediate Life Annuity. Surrender Value applies to Immediate Life Annuity with Return of Purchase Price and Deferred Life Annuity with Return of Purchase Price, with single premium variants acquiring surrender value after the free-look period and limited premium annuity variants acquiring guaranteed surrender value after payment of two full years’ premium.","display":"No surrender for Immediate Life Annuity; ROPP variants can be surrendered after acquiring Surrender Value; single premium after free-look; limited premium GSV after two full years’ premium","note":"For deferred annuity, surrender value is applicable during the deferment period; special surrender value may also apply as stated in the policy.","quote":"No Surrender benefit shall be payable in case You have chosen Immediate Life Annuity variant. The Surrender Value is applicable for Immediate Life Annuity with Return of Purchase Price variants and Deferred Life Annuity with Return of Purchase Price variants. ... The Policy will acquire Surrender Value immediately after the end of Freelook period only for the Single Premium Annuity Variants. ... The Surrender Value will be higher of Guaranteed Surrender Value and Special Surrender Value. ... For Limited Premium Annuity Variant, the Policy will acquire Guaranteed Surrender Value on payment of two full years’ Premium.","sources":[{"clause":"1.1","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-1-2"},{"clause":"1.2","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-2-3"},{"clause":"1.4","heading":null,"page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-4-2"},{"clause":"1.5.1","heading":"For Limited Premium Annuity Variant, the Policy will acquire Guaranteed Surrender Value on","page":15,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-1-5-1"}],"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":"quote-verified","value":"For Deferred Life Annuity with Return of Purchase Price variants, if the policy has acquired surrender value and premiums are not paid after the grace period, it continues in Reduced Paid Up Mode unless revived. The reduced paid-up annuity is the fully paid-up annuity multiplied by the ratio of premiums paid to premiums payable, with loadings where applicable.","display":"Deferred ROPP variants continue as Reduced Paid Up after acquiring surrender value if premiums remain unpaid after grace period","note":"Reduced paid-up is stated as applicable for Deferred Life Annuity with Return of Purchase Price variants only.","quote":"If this Policy has acquired a Surrender Value as specified under Clause 1 of Part D, 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 Annuity = (Annuity amount payable to fully paid-up Policy) multiplied by [(Total Premiums Paid plus loadings for modal Premiums paid (if any) for Policy) / (total Premiums payable plus loadings for modal Premiums payable (if any) for Policy)]","sources":[{"clause":"5","heading":"REDUCED PAID UP (applicable for Deferred Life Annuity with Return of Purchase Price","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-5-2"},{"clause":"5.2","heading":"Reduced Paid-Up Annuity Benefit: For a Reduced Paid Up Mode Policy, We will pay the","page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-5-2-2"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A lapsed policy or policy under reduced paid-up mode can be revived for full benefits within five years from the due date of the first unpaid premium by paying all due premiums with applicable revival interest, subject to the policy conditions.","display":"Within five years from the due date of the first unpaid premium","note":"Applies to limited premium policies.","quote":"A Lapsed Policy or a Policy under Reduced Paid Up Mode can be revived for full benefits within five years from the due date of the first unpaid Premium by paying all the due premiums together with applicable revival interest:","sources":[{"clause":"5.1","heading":null,"page":18,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-5-1-2"}],"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":"quote-verified","value":"Loan is available once the policy has acquired surrender value, provided there is a benefit payable on death after the annuity start date. The minimum loan is INR 10,000 and the maximum is 80% of surrender value, or 50% of surrender value if the Variable Annuity Payout Option is chosen.","display":"Loan after Surrender Value; minimum INR 10,000; maximum 80% of Surrender Value, or 50% with Variable Annuity Payout Option","note":null,"quote":"Once this Policy has acquired the Surrender Value, You will be eligible for grant of loan from Us, provided there is a benefit payable upon death of the Annuitant(s) after the Annuity start date. ... The minimum amount of loan which can be granted by Us under this Policy is INR 10,000 (Rupees Ten Thousand). The maximum amount of loan which can be granted under this Policy during the Policy Term shall not exceed 80% (Eighty percent) of the Surrender Value payable under this Policy ... In case You have opted for “Variable Annuity Payout Option”, the Policy loan shall not exceed 50% (Fifty percent) of Surrender Value.","sources":[{"clause":"2.1","heading":null,"page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-2-1-2"},{"clause":"2.2","heading":null,"page":17,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-2-2-3"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"quote-verified","value":["None"],"display":"None","note":"The CIS states no riders opted; the policy documents do not list any optional riders for the base product.","quote":"8. | Riders opted, if any | None","sources":[{"clause":"Row 8","heading":"Riders opted, if any","page":3,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2355#c-row-8"}],"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":"quote-verified","value":"No life insurance policy can be called in question on any ground after expiry of 3 years from issuance, commencement of risk, revival, or rider date, whichever is later. Within 3 years, it may be questioned for fraud or material misstatement subject to the stated communication and proof requirements.","display":"Cannot be called in question after 3 years; within 3 years only on stated grounds such as fraud or material misstatement","note":null,"quote":"No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 years 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 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.","sources":[{"clause":"Section 45","heading":"Policy shall not be called in question on the ground of mis-statement after three years","page":29,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#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":"quote-verified","value":"Tax benefits may be available as per prevailing tax laws, and tax laws and their interpretation or application are subject to change. The policy advises consulting a tax advisor.","display":"Tax benefits may be available as per prevailing tax laws; consult your tax advisor","note":null,"quote":"Tax benefits may be available as per prevailing tax laws. Tax laws, their interpretation and/or application, including benefits arising thereunder are subject to change. You are advised to consult your tax advisor regarding the tax benefits and liabilities applicable to you.","sources":[{"clause":"2.3","heading":null,"page":22,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-2-3-4"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":null,"quote":"within the Free look period of 30 days beginning from the date of receiving the Policy document.","sources":[{"clause":"2","heading":null,"page":1,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days; 15 days for monthly premium payment mode","note":"Applies to limited premium variants only. Norm uses the 30-day grace period for quarterly, half yearly and annual frequencies.","quote":"If the Premium is not paid by the due date, a Grace Period of 15 days in case of monthly premium payment mode will be given for the payment of due Premium for monthly frequency and 30 days Grace Period for due Premium for quarterly, half yearly and annual frequencies.","sources":[{"clause":"9.1","heading":null,"page":14,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-9-1"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum entry age is 25 years for the main annuity variants. Maximum entry age is 85 years for Immediate Life Annuity and Immediate Life Annuity with Return of Purchase Price, and 84 years for Deferred Life Annuity with Return of Purchase Price subject to annuity starting maximum at age 85 years.","display":"25 years to 85 years; deferred max 84 years subject to annuity start max at age 85 years","note":"For POS policies the prospectus states minimum entry age 40 years and maximum entry age 70 years. For QROPS, minimum entry age or annuity start age cannot be less than 55 years.","quote":"1 | Immediate Life Annuity | Single Life without ROPP | 25 years | 85 years | till death of the annuitant | Single Pay ... 2 | Immediate Life Annuity with Return of Purchase Price | Single Life with ROPP | 25 years | 85 years | till death of the annuitant | Single Pay ... 3 | Deferred Life Annuity with Return of Purchase Price | Single Life with ROPP | 25 years | 84 years (age last birthday) subject to annuity to start max at age 85 years.","sources":[{"clause":"Row 1","heading":"Immediate Life Annuity","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-row-1"},{"clause":"Row 2","heading":"Immediate Life Annuity with Return of Purchase Price","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-row-2"},{"clause":"Row 3","heading":"Deferred Life Annuity with Return of Purchase Price","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-row-3"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["Single Premium","annually","semi-annually","quarterly","monthly"],"display":"Single Premium; annually, semi-annually, quarterly or monthly for limited premium","note":null,"quote":"Premium Payment Mode: << Single Premium/ Annual/ Semi Annual/ Quarterly/ Monthly>> ... In case of Limited Premium payment variant, You can pay the Premium annually, semi-annually, quarterly or on monthly basis, as per the Premium payment mode chosen by You.","sources":[{"clause":null,"heading":"POLICY SCHEDULE","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-policy-schedule"},{"clause":"7.2","heading":null,"page":13,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-7-2-2"}],"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":"quote-verified","value":["Single Premium","Limited Premium"],"display":"Single Premium or Limited Premium","note":null,"quote":"Premium Payment Type: << Single Premium/ Limited Premium>>","sources":[{"clause":null,"heading":"POLICY SCHEDULE","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-policy-schedule"}],"law":[]},{"key":"annuity_options","label":"Annuity options","section":"Cover","meaning":"Life annuity, joint life, return of purchase price, increasing annuity...","status":"quote-verified","value":["Single Life","Joint Life","Immediate Life Annuity","Immediate Life Annuity with Return of Purchase Price","Deferred Life Annuity with Return of Purchase Price","Variable Annuity Payout Option"],"display":"Single Life or Joint Life; Immediate Life Annuity, Immediate Life Annuity with Return of Purchase Price, Deferred Life Annuity with Return of Purchase Price; Variable Annuity Payout Option for ROPP variants","note":"The annuity variant once chosen cannot be changed.","quote":"Life Type: <<Single Life/ Joint Life>> ... The following Annuity Variants are available in the Policy:\na) Immediate Life Annuity;\nb) Immediate Life Annuity with Return of Purchase Price;\nc) Deferred Life Annuity with Return of Purchase Price; ... In case of ‘Immediate Life Annuity with Return of Purchase Price’ and ‘Deferred Life Annuity with Return of Purchase Price’ Annuity Variants, You will have the option to choose the Variable Annuity Payout Option at the Date of Commencement of Risk.","sources":[{"clause":null,"heading":"POLICY SCHEDULE","page":4,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-policy-schedule"},{"clause":"7","heading":"“Annuity Variant”","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-7"},{"clause":"4.1","heading":null,"page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-4-1"}],"law":[]},{"key":"purchase_price_min","label":"Minimum purchase price","section":"Eligibility","meaning":"Smallest lump sum or annuity accepted.","status":"quote-verified","value":"Minimum premium is subject to the minimum annuity amount and depends on annuity rates and chosen variant. The current minimum annuity is Rs. 12,000 annually, Rs. 6,000 semi-annually, Rs.3000 quarterly, or Rs. 1,000 monthly.","display":"Minimum premium subject to minimum annuity; currently Rs. 12,000 annually, Rs. 6,000 semi-annually, Rs.3000 quarterly or Rs. 1,000 monthly","note":"Maximum premium is as per Board Approved Underwriting policy.","quote":"Annuity amount | Minimum: In accordance with IRDAI (Insurance Products) Regulations, 2024 as amended from time to time. Currently, the minimum annuity allowed is Rs. 12,000 annually or Rs. 6,000 semi-annually or Rs.3000 quarterly or Rs. 1,000 monthly. ... Minimum premium: Subject to minimum annuity amount as mentioned above; will depend upon annuity rates and the annuity variant chosen.","sources":[{"clause":null,"heading":"Annuity payout criteria","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-annuity-payout-criteria"}],"law":[]},{"key":"deferment","label":"Deferment period","section":"Cover","meaning":"For deferred plans, how long before income starts.","status":"quote-verified","value":"For deferred annuity, the deferment period is from commencement of risk until the policy becomes eligible for annuity payment. Single Pay allows 1 Year to 12 years subject to maximum vesting age; Limited Pay allows maximum of the premium payment term or 2 years, up to 12 years subject to maximum vesting age.","display":"Single Pay: 1 Year to 12 years; Limited Pay: maximum of PPT or 2 years to 12 years, subject to maximum vesting age","note":"Applies to deferred annuity variants only; the policy wording says the deferment period is chosen at commencement and cannot be changed.","quote":"Deferment Period means the period from Date of Commencement of Risk till the policy becomes eligible for Annuity payment. ... Deferment period | 1 Year | 12 years subject to maximum vesting age ... Deferment period | Maximum of (PPT or 2 years) | 12 years subject to Maximum Vesting Age","sources":[{"clause":null,"heading":"Annuity payout criteria","page":5,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-annuity-payout-criteria"}],"law":[]},{"key":"annuity_frequency","label":"Payout frequency","section":"Cover","meaning":"Monthly, quarterly, half-yearly, yearly.","status":"quote-verified","value":["annual","semi-annual","quarterly","monthly"],"display":"Annual, semi-annual, quarterly and monthly","note":null,"quote":"The Policy provides annual, semi-annual, quarterly and monthly mode for Annuity payments to the Annuitant.","sources":[{"clause":"6","heading":"\"Annuity Modal Factors\"","page":6,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838#c-6"}],"law":[]},{"key":"annuity_rate_example","label":"Example annuity rate","section":"Cover","meaning":"An example from the document; rates change with age and over time.","status":"quote-verified","value":"In the prospectus illustration for Variant 1, a 60-year-old Mr. Verma with a Rs.25,00,000 purchase price, Single Life and Annual payout receives an Immediate Life Annuity of Rs.2,05,100 till death, with no benefit payable on death.","display":"Example: Rs.25,00,000 purchase price gives Rs.2,05,100 annual immediate life annuity for a 60-year-old single life","note":"This is only an illustration from the prospectus; annuity rates vary by age, gender, premium, option, premium payment term, deferment period, and payment modes.","quote":"Mr. Verma is a 60 year old who has opted for Immediate Life Annuity Variant, following are the details: ... Purchase Price | Rs.25,00,000 ... Life Type | Single Life | Annuity Payout Frequency | Annual ... An Immediate Life Annuity of Rs.2,05,100 shall be payable to the annuitant till death.","sources":[{"clause":"9(i)","heading":"VARIANT 1","page":10,"url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332#c-9-i"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Document (Individual)","pages":31,"fetched_at":"2026-10-17 19:43:47+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/Smart-Rise-Policy-Contract-Individual.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2838"},{"kind":"wording","label":"Master Policy Document (Group)","pages":34,"fetched_at":"2026-10-17 19:43:48+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/Smart-Rise-Master-Policy-Contract.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2841"},{"kind":"prospectus","label":"Policy Prospectus","pages":22,"fetched_at":"2026-10-17 19:34:13+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/Smart-Rise-Prospectus.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2332"},{"kind":"cis","label":"Customer Information Sheet (Individual)","pages":4,"fetched_at":"2026-10-17 19:34:40+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/Smart-Rise-CIS-Individual.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2355"},{"kind":"cis","label":"Customer Information Sheet (Group)","pages":4,"fetched_at":"2026-10-17 19:34:45+00","source_url":"https://www.axismaxlife.com/static-page/assets/homepage/Smart-Rise-CIS-Group.pdf","url":"https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01/document/2359"}],"versions":[],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"Axis Max Life Insurance official website","url":"https://www.axismaxlife.com/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims centre","url":"https://www.axismaxlife.com/claims-centre","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://www.axismaxlife.com/customer-servicing/grievance-redressal","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"renew","kind":"insurer","name":"Pay renewal premium","url":"https://www.axismaxlife.com/cs/pay-online","note":null}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"Smart Retirement Income with Sustained Earnings Plan (UIN 104N160V01), IndiaInsurances, https://indiainsurances.com/policy/axis-max-life-insurance/smart-retirement-income-with-sustained-earnings-plan-104n160v01"}