Disclaimer
: In Unit Linked Policies, the investment Risk in the investment portfolio is borne by the policyholder. *+Nifty Mid-cap 150 Momentum 50 Index was launched in Aug’22. These are returns of benchmark indices and are not indicative of return on Axis Max Life Insurance’s Midcap Momentum Index fund. 5 year return of NIFTY Midcap 150 Momentum 50 Index as on 31/01/2024. Axis Max Life Midcap Momentum Index Fund (SFIN: ULIF02802/01/24MIDMOMENTM104) is passively managed Index Fund that mirrors NIFTY Midcap 150 Momentum 50 Index.
With Axis Max Life Investment Plans
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Axis Max Life Guaranteed Income Plan is a savings plan with which you can plan to receive a guaranteed income along with a life cover. The need to know what is guaranteed income plan stems from the fact that we all need a life cover to protect our families financially in challenging times. Alongside, there is always a pressing need for an additional income source, particularly for salaried individuals, to make end meets.
Saving your hard-earned money with Axis Max Life Guaranteed Income Plan covers both these aspects in one go. With regular savings made under Axis Max Life Guaranteed Income Plan, you can plan for a monthly income in the later years of your life. Furthermore, this income will increase to a higher amount in the later years of the chosen policy period.
Besides having an additional income source, certain immediate financial needs require a larger amount, borrowing, which can add more load to the financial worries. Axis Max Life Guaranteed Income Plan covers this aspect of your life, as well. You can ask for a lump sum amount instead of monthly income under this plan for such needs.
Think of Axis Max Life Guaranteed Income Plan as an all-in-one solution for various needs related to money savings. You can start saving money under this plan to fulfil various life goals - yours and that of your loved ones.
Axis Max Life Guaranteed Income Plan benefits cater to various aspects of the insured life.
Moreover, he/she will also get the option to convert this amount into monthly income for ten years.
You are advised to read the plan document carefully and consult tax professionals to save tax on money saved under Axis Max Life Guaranteed Income Plan.
Also Read: How to Save Income Tax?
Axis Max Life Guaranteed Income Plan features aim at helping you achieve your savings goals just as you have planned for them.
Given below are a few reasons that can convince you to save money with Axis Max Life Guaranteed Income Plan:
The following illustration can help understand what is Guaranteed Income plan and its features –
Mr. Singh is a 35-year old salaried individual working in an MNC. He wants to save money under Axis Max Life Guaranteed Income Plan to plan for his son's educational expenses. He chooses to save an annualised premium of Rs. 1,50,000 in this plan for 6 years.
| Benefit/Premium | Amount (in Rs.) |
|---|---|
| Total premium amount paid in 6 years | 9,00,000 |
| Guaranteed income for the first five years | 79,185 |
| Monthly income for the first five years | 6,599 |
| Guaranteed income for the next five years | 1,58,370 |
| Monthly income for the next five years | 13,198 |
| Terminal benefit | 1,87,500.00 |
| Guaranteed sum assured on maturity | 6,67,853 |
You can use Axis Max Life Guaranteed Income Plan premium calculator to check its benefits under different scenarios.
In the event of Mr. Singh's unfortunate demise during the policy term, the nominee is entitled to receive Rs. 19,12,500 apx. as Guaranteed Sum Assured on Death. The above details are related to saving money in the Axis Max Life Guaranteed Income Plan.
Also Read: What is Sum Assured?
ARN No: Aug23/Bg/02N
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