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              Life Insurance Companies in India

              The life insurance sector in India comprises of 24 life insurance companies,

              Among the life insurance companies, Life Insurance Corporation (LIC) of India is the only public sector company. Accord
              ing to IBEF (India Brand Equity Foundation), in FY19, the total premium from the new life insurance business in India increased up to Rs. 2.15 trillion (or US$ 30.7 billion), showing a 10.73 per cent year-on-year growth.

              Take a look at the different life insurance companies in India and the road ahead for the life insurance companies in the country, in this blog.
              ...Read More

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              Written by

              Alok Mishra
              Profile picture of the Alok Mishra

              Alok Mishra

              Insurance Writer

              Alok Mishra is a Digital and Content Marketing specialist with 10 years of experience. He has spearheaded Web Content, Social Media & Branding, and Community Building initiatives to drive growth for prominent brands.

              :

              Reviewed by

              Bhaskar Sinha
              Profile picture of the Bhaskar Sinha

              Bhaskar Sinha

              Insurance Expert

              8+ years of experience in Life Insurance with expertise in Developing Life and Health Products, Digital Sales, Conducting effective trainings and Key Account Management.

              Life Insurance Council and the ‘Sabse Pehle Life Insurance’ Campaign


              Life Insurance Council is the forum that connects all the life insurance companies in India. Recently, the Council have launched ‘Sabse Pehle Life Insurance,’ which is the first campaign of the insurance industry..

              Image for types Of Investments 0

              The purpose of the ‘Sabse Pehle Life Insurance’ campaign is to create awareness and educate the Indian population about the different aspects and importance of having life insurance protection. All the 24 life insurance companies are a part of this campaign.

              To reach a large section of people online, the Life Insurance Council has launched a dedicated website, https://www.sabsepehlelifeinsurance.com/. Currently, the penetration of life insurance is quite low in the country. Therefore, the campaign is seen as a definitive step towards educating people on the insurance front.

              One of the primary reasons for the low insurance penetration is the fact that often people buy life insurance for peripheral benefits only – without understanding first why insurance coverage is imperative in their lives.

              Life insurance companies in India offer a variety of customisable insurance plans to suit individual needs and requirements. Thus, the thought-provoking campaign hopes to identify with the larger Indian population and encourage them to opt for a life insurance protection based on their financial needs and requirements. 

              List of Life Insurance Companies in India


              Following is a list of life insurance companies in India:

              S. No

              Name of the Company

              Address

              Name of the Chairman/MD & CEO

              1. 

              Life Insurance Corporation of India

              Yogakshema, Jeevan Bima Marg

              Post Box No. 19953

              Mumbai – 400 021

              Mr. M R Kumar

              Chairman

              2. 

              HDFC Life Insurance Co. Ltd

              13th Floor, Lodha Excelus, Apollo Mills Compound, N.M. Joshi Road, Mahalaxmi, Mumbai 400 011, Maharashtra

              Ms. Vibha Padalkar

              MD & CEO

               

              3. 

              Axis Max Life Insurance Ltd.

              3rd, 11th, 12th Floor, DLF Square Building,

              Jacaranda Marg, DLF City, Phase – II, Gurgaon – 122002, Haryana

              Mr. Prashant Tripathy

              MD & CEO

              4. 

              ICICI Prudential Life Insurance Co. Ltd

              ICICI Prulife Towers

              1089, Appasaheb Marathe Marg, Prabhadevi,Mumbai – 400 025

              Mr. N S Kannan

              MD & CEO

               

              5. 

              Kotak Mahindra Life Insurance Co. Ltd.

              7th Floor, Kotak Infiniti, Building No.21, Infinity Park, Off Western Express Highway,

              General AK Vaidya Marg, Malad (East),

              Mumbai – 400 097

              Mr. G. Murlidhar

              MD & CEO

              6. 

               

              Aditya Birla SunLife Insurance Co. Ltd.

              One India Bulls Centre,

              Tower 1, 16th Floor, Jupiter Mill Compound, 841, SenapatiBapatMarg, Elphinstone Road,

              Mumbai-400013

              Mr. Kamlesh Rao

              MD & CEO

               

              7. 

              TATA AIA Life Insurance Co. Ltd.

              14th Floor, Tower A, Peninsula Business Park, Lower Parel, Senapati Bapat Marg,

              Mumbai - 400013

              Mr. Rishi Srivastava

              MD & CEO

              8. 

              SBI Life Insurance Co. Ltd.

               

              “Natraj”, M.V. Road & Western Express Highway Junction, Andheri (East), Mumbai - 400069

              Mr. Sanjeev Nautiyal

              MD & CEO

              9. 

              Exide Life Insurance Co. Ltd.

               

               

              3rd Floor, JP Techno Park, No. 3/1, Millers Road, Bengaluru –

              560 001, Karnataka

              Mr. Kshitij Jain

              MD & CEO

              10. 

              Bajaj Allianz Life Insurance Co. Ltd.

              Bajaj Allianz House, Airport Road, Yerawada, Pune – 411 006

              Mr. Tarun Chugh

              MD&CEO

              11. 

              PNB MetLife India Insurance Co. Ltd.

              Unit No. 101, 1st Floor, Techniplex-1, Techniplex Complex,Veer Savarkar Flyover, Off S V Road Goregaon (West), Maharashtra- 400062.

              Mr. Ashish Kumar Srivastava

              MD&CEO

              12. 

              Reliance Nippon Life Insurance Company Limited

              Reliance Centre, Off Western Express Highway, Santacruz East, Mumbai – 4000 055

              Mr. Ashish Vohra

              CEO & ED

              13. 

              Aviva Life Insurance Company India Ltd.

              Aviva Tower, Sector Road, Opposite Golf Course, DLF-Phase V, Sector 43, Gurgaon 122003

              Mr. Trevor Bull

              MD & CEO

              14. 

              Sahara India Life Insurance Co. Ltd.

              Sahara India Centre,

              1, Kapoorthala Complex, Aliganj, Lucknow – 226 024

              Mr. A K Dasgupta

              CEO & President

              15. 

              Shriram Life Insurance Co. Ltd.

               

              Ramki Selenium,Plot No:31 & 32,Beside Andhra Bank Training Centre, Financial District, Gachibowli,Hyderabad – 500032.

              Mr. Casparus Jacobus Hendrik Kromhout

              MD & CEO

              16. 

              Bharti AXA Life Insurance Company Ltd

              Unit no:1904,19th Floor, Parinee Crescenzo, ‘G’ Block, Bandra Kurla Complex, BKC Road, Behind MCA Ground, Bandra East,

              Mumbai - 400051

              Mr. Parag Raja

              MD & CEO

              17. 

              Future Generali India Life Insurance Company Limited,

              Indiabulls Finance Centre, Tower 3, 6th Floor, Senapati Bapat Marg, Elphonstone (W), Mumbai – 400 013

              Mr. Munish Sharda

              MD &CEO

              18. 

              IDBI Federal Life Insurance Company Limited

              22nd Floor, A Wing, Marathon Futurex, N. M. Joshi Marg, Lower Parel – East

              Mumbai – 400013

              Mr. Vighnesh Sahane

              MD & CEO

              19. 

              Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

              Orchid Business Park, Second Floor, Sohna Road, Sector-48, Gurgaon 122 018, Haryana, India,

              Mr. Anuj Mathur

              MD & CEO

              20. 

              Aegon Life Insurance Company Limited

              Building No. 3, Third Floor, Unit No. 1, Nesco IT Park,Western Express Highway, Goregaon (East), Pincode (Mumbai- 400063)

              Mr. Vineet Arora,

              MD & CEO

               

              21. 

              Pramerica Life Insurance Co. Ltd.

              4th Floor, Tower B, Building No.9, DLF Cyber City, Phase-III, Gurgaon 122002

              Mr. Anoop Kumar Pabby

              MD & CEO

               

              22. 

               

              Star Union Dai-Ichi Life Insurance Co. Ltd.

               

               

              11th Floor, Plot No:34,35 & 38,

              Vishwaroop IT Park, Sector-30A of IIP, Vashi, Navi Mumbai 400703

              Mr. Girish Kulkarni

              MD&CEO

               

              23. 

              IndiaFirst Life Insurance Company Ltd.,

               

               

               

               

               

              12th and 13th Floor, North [C] wing,

              Tower 4, NESCO IT Park, NESCO Centre,

              Western Express Highway, Goregaon (East),

              Mumbai – 400 063

              Dr. R M Visakha

              MD&CEO

               

              24. 

              Edelweiss Tokio Life Insurance Company Limited

              3rd & 4th Floor, Tower 3, Wing B, Kohinoor City,Kirol Road, Kurla (West), Mumbai -400070

              Mr. Sumit Rai

              MD&CEO

               


              Disclaimer – The details mentioned in the table above have been taken from IRDAI website (click here), as of 10-07-2019.

              Life Insurance Companies in India – The Road Ahead


              With the “Sabse Pehle Life Insurance’ campaign in full swing, the life insurance industry in India looks to gain more inroads into the people’s lives. At the same time, several regulatory framework changes are already set to be introduced in the coming years, which are expected to change the way life insurance companies conduct their business and engage with their customers.

              Image for types Of Investments 0

              As per estimates, the life insurance industry in India is expected to grow by up to 12-15 per cent in the upcoming three to five years.

              Sources

              https://www.ibef.org/industry/insurance-sector-india.aspx

              http://www.policyholder.gov.in/Registered_Insurers_Life.aspx

              https://www.lifeinscouncil.org/UPLOADING%20FILES/MEDIA_UPLOADS/ARTICLES_NEWS/ARTICLE23411-Oct-2019.pdf (Sabse Pehle Life Insurance)

              https://www.irdai.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo129&mid=3.1.9

              ARN: Aug/Bg/06

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              IRDAI clarifies to public that:
              • • IRDAI is not involved in activities like selling insurance policies, announcing
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              IRDAI - Registration No. 104. Category: Life. Validity: Valid.
              Corporate Identity Number (CIN): U74899PB2000PLC045626.
              Corporate Office: Axis Max Life Insurance Ltd. 11th Floor, DLF Square, Building, Jacaranda Marg, DLF Phase 2, Sector 25, Gurugram, Shahpur, Haryana 122002

              DISCLAIMERS

              Axis Max Life Insurance Limited (earlier known as Max Life Insurance Company Limited) is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.

              Corporate Office: Axis Max Life Insurance Ltd. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002.

              Operation Center: Axis Max Life Insurance Ltd, Plot No. 90C, Udyog Vihar, Sector 18, Gurugram (Haryana) - 122015.

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              Axis Max Life Insurance is integrated with licensed NBFC FinVu (Cookiejar Technologies Pvt. Ltd. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Read more about Account Aggregator framework here

              *Life insurance coverage is available in this product. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws.

              Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961. Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

              Celeb disclaimer (if Rohit Sharma / Ritika Sajdeh image being used):

              The Brand Ambassadors as depicted herein, have endorsed only the Axis Max Life Insurance Products and are not in any manner endorsing Axis Bank Limited and / or any other Bank Partner of Axis Max Life Insurance and do not have any kind of association or relationship with Axis Bank Limited and / or any other Bank Partner of Axis Max Life Insurance

              Disclaimers for Market Linked Plans & Saving plans:

              THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

              Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Axis Max Life Insurance is only the name of the insurance company and Axis Max Life Online Savings Plan (UIN: 104L098V06) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

              Axis Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN: 104L098V06)

              *1The aggregate annualized premium should not be more than 5 lakhs (one or more policies put together) for non-linked non-par savings insurance plan in any given year of policy term to be eligible for Section 10 (10D) exemption.

              *3All claims that qualify for InstaClaim will be paid within 3 hrs from the date of submission of all mandatory documents else Axis Max Life will pay interest at prevailing Bank Rate as on beginning of Financial Year in which claim has been received for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. Mandatory Documents: Original policy document; Original/attested copy of death certificate issued by local municipal authority; Death claim application form (Form A); NEFT mandate form attested by bank authorities along with a cancelled cheque of bank account passbook along with nominee's photo identity proof; Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/Viscera Report (in case of accident death).

              *#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid. The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

              Privacy Policy

              ^^On completion of policy term

              The savings indicated is the maximum premium difference as compared with offline plan & depends on the variant purchased.

              Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day. Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification. Mandatory Documents:

              > Original policy document

              > Original/attested copy of death certificate issued by local municipal authority

              > Death claim application form (Form A)

              > NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominee’s photo identity proof

              > Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

              1The 5% employee discount will be refunded to you once your policy is issued. Submit your documents for getting your policy issued and get 5% employee discount

              2Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).

              315% discount is applicable only on the first year premium for salaried employees with a corporate, purchasing Smart Term Plan Plus (UIN: 104N127V01). During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. 15% discount (applied on standard male premium rates) is applicable for lifetime for females.

              4InstaClaim TM is available for all versions of (UIN: 104N125V07). Mandatory Documents:

              • Original policy document
              • Original/attested copy of death certificate issued by local municipal authority
              • Death claim application form (Form A)
              • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominee’s photo identity proof
              • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

              5Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition

              6The life insurer is eligible for a discount on renewal premium under regular pay variant by accumulating Healthy Weeks as per terms and conditions of the rider

              7Available with Axis Max Life Smart Wealth Plan (UIN: 104N116V13)

              8Available with Axis Max Life Smart Fixed-return Digital Plan (UIN: 104N123V05). The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid.

              9The percentage savings is for a regular pay Axis Max Life Smart Secure Plus Plan (A Non Linked Non Participating Individual Pure Risk Life Insurance Plan, UIN: 104N118V10)– Life Option for 1 Cr. life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term with the same details’

              ##Tax conditions :

              ##Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, fall under 30% income tax slab having taxable income less than Rs. 50 lakhs and Opt for Old tax regime ~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and 25,000 for critical illness cover and you are a Regular Individual, fall under 30% income tax slab having taxable income less than Rs. 50 lakhs and Opt for Old tax regime.

              CI Rider disclaimers:

              AXIS MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN: 104B033V02) available as a rider on payment of additional premium.

              >Extended cover of up to 85 years is available with gold and platinum variant only

              @64 critical illnesses covered in platinum and platinum plus variant on payment

              22 critical illnesses covered in gold and gold plus variant

              *^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

              ~Conditions for premium break: Available at an additional premium for policies with policy term greater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years

              ~1 Conditions for Special exit value:

              Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of Premium variant is not chosen. No additional premium to be paid.

              ~2 Voluntary Top-up Sum assured:

              Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured up to an additional 100% of base sum assured, chosen at inception

              ^^*^^Free look period conditions:

              The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

              ^Individual Death Claim Paid Ratio as per audited financials for FY 2023-2024

              #1A flat 15% discount on the premium will be applicable throughout the Premium Payment Term for Female Life Insured with Axis Max Life Smart Term Plan Plus (UIN: 104N127V01).

              #3Tax benefits as per prevailing tax laws, subject to change

              Terms and conditions for availing 5% employee discount:

              <Due to system constraints, employee is requested to select 5 Lakh and above income which can be changed to actual amount on the information page.

              Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns. The premiums & funds are subject to certain charges related to the fund or to the premium paid.

              The premium shall be adjusted on the due date even if it has been received in advance.

              For Total Installment Premium - Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.

              For Return of Premium - The Return of Premium Option is available on payment of Additional Premium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. Upon Policyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan.

              For Riders - #Applicable Rider available on the payment of Additional Premium is Axis Max Life Critical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Health Insurance Rider | UIN: 104B033V02. Critical Illness and Disability Rider variant opted is Platinum Plus which covers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed with listed 64 critical illnesses or total and permanent disability. Rider will terminate after major critical illness claim is paid to the policyholder. In case customer requests for cancellation of rider only, the solution as a whole will be cancelled and not just the individual rider.

              For Additional Benefits– ##On Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

              *~Disclaimers

              Axis Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk life insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standard premium for 30-year-old healthy male, non-smoker, 40 years’ policy term, 40 years’ premium payment term (exclusive of GST) for Axis Max Life Smart Secure Plus Plan.

              ##Policy continuance benefit is not available with lifelong wealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate (publish on RBI’s website).

              #With “Save the date”, you can choose to take your annual income to any special date in a year.

              ***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

              ~Accidental death benefit is available in call variants except for Single premium variant. Life insurance coverage is available in this product.

              #~Term Insurance plan bought online directly from Axis Max Life Insurance has no commissions involved.

              ~1Axis Max Life Smart Secure Plus Plan, A non-linked non-participating Individual Pure Risk Life Insurance Plan | Standard Premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Secure Plus Plan | ~1 Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to be paid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. Special Exit Value cover applicable till age 68 & above (of your age). T&C Apply.

              @>Axis Max Life Critical Illness and Disability Rider (UIN 104B033V02) is available on payment of additional premium. It covers 64 critical illnesses under Platinum & Platinum Plus variant

              #Available on Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

              ^1Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 50 lakh.

              ^2Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 75 lakh.

              ^3Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 1 Cr.

              ^4Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 1.5 Cr.

              ^5Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 2 Cr.

              ^6Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07) with a life cover of Rs. 5 Cr.

              ^7Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Term Plan Plus (UIN: 104N127V01) - Regular Cover with a life cover of Rs. 1 Cr.

              ~*Disclaimer: Standard premium for 24-year old healthy female,non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07)

              ^~Disclaimer: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 31/07/2024

              ^~The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back. The value of your policy depends on a number of factors including future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premium payment term, and 35 years policy term with Axis Max Life Online Saving Plan (Unit Linked Non Participating Individual Life Insurance Plan | Life Insurance is available in this product).

              ~3Disclaimer: A 35-year-old female opting for a life cover of Rs. 1 Cr till the age of 75 years pays Rs. 3,963 monthly for 10 years while a 35-year-old male will pay Rs. 4,977 monthly for 10 years

              *++Axis Max Life's Nifty Alpha 50 Fund tracks the NSE's Nifty Alpha 50 Index, subject to tracking error. The above values have been calculated by projecting historical returns of the Nifty Alpha 50 index, after adjusting for all expenses, except the tracking error, in Axis Max Life online savings plan (variant 1) for a 35-year-old male investing 10k per month for 10 years and maturity after 20 years. The calculations have been done using historical returns of the Nifty Alpha 50 index and may not be indicative of the future performance of Axis Max Life's Nifty Alpha 50 Fund. The above values have been calculated basis 10 year returns of 26.4% (30th Apr'24) of the Nifty Alpha 50 Index.

              *+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. 10 year return of NIFTY Midcap 150 Momentum 50 Index as on 27/05/2024. Max Life Midcap Momentum Index Fund (SFIN: ULIF02802/01/24MIDMOMENTM104) is passively managed Index Fund that mirrors NIFTY Midcap 150 Momentum 50 Index.

              *&10 year return of Nifty Smallcap 250 Quality 50 Index as on 30/04/2024. The past returns are extrapolation of index fund returns up to past 10 years using same formula (provided by NSE). The returns are not indicative of the future performance of the fund. Max Life Nifty Smallcap Quality Index Fund is passively managed Index Fund that mirrors Nifty Smallcap 250 Quality 50 Index. The objective of the fund is to invest in companies with similar weights as in the index and generate returns as closely as possible, subject to tracking error.

              ^*All claims that qualify for InstaClaim will be paid within 3 hrs from the date of submission of all mandatory documents else Axis Max Life will pay interest at prevailing Bank Rate as on beginning of Financial Year in which claim has been received for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at the beginning of the financial year in which death claim has been received. Mandatory Documents: Original policy document; Original/attested copy of death certificate issued by local municipal authority; Death claim application form (Form A); NEFT mandate form attested by bank authorities along with a cancelled cheque of bank account passbook along with nominee's photo identity proof; Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/Viscera Report (in case of accident death).

              @1Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. | ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

              @2Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07). The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case. | ~1 Get back all the premiums paid with Special Exit value. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up.

              #*Axis Max Life Insurance’s Sustainable Wealth 50 Index Fund (SFIN: ULIF03223/12/24SUSTWEALTH104), which is a passively managed Index Fund that mirrors Axis Max Life Sustainable Yield Index, subject to tracking error. The fund value calculation is done by projecting historical returns of Axis Max Life Sustainable Yield Index, after adjusting for all expenses (except tracking error) in Axis Max Life Flexi Wealth Advantage Plan (UIN: 104L121V03) for a 30-year-old male investing 5k/10k per month for 20/10 years. The above values have been calculated assuming 25.2% p.a. gross investment returns as in Nov'24, which is the 10-year return of Axis Max Life Sustainable Yield Index. (back tested).

              @3Standard premium for 20-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07)| The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

              7Disclaimer: Rs. 1,00,29,587 after 14 years at policy maturity on monthly investment of Rs. 16,600 for 12 years for 30-year-old male with Axis Max Life Smart Wealth Plan – Long Term Variant. A non-linked non-participating individual life insurance savings plan. The guaranteed benefits are applicable only if all due premiums are paid. Total premiums paid is exclusive of GST. Life Insurance is available in this product.

              @5Disclaimer: Standard premium for 20-year old healthy female, non-smoker, 25 years policy term, 25 years premium payment term (exclusive of GST) for Rebalancing Cover Variant of Axis Max Life Smart Term Plan Plus (UIN:104N127V01) Sum Assured of 1 Cr | The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate. During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

              @6Disclaimer: The policyholder will get back 200% of total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums (if any) (excl. of GST), if the policyholder exercises this option at policy year (Policy Term-10) only. This option will not applicable for Regular Pay and Pay Till 60. The minimum policy term will be 40 years for special exit value.

              @7Disclaimer: Standard premium for 20-year old healthy male, non-smoker, 25 years policy term, 25 years premium payment term (exclusive of GST) for Rebalancing Cover Variant of Axis Max Life Smart Term Plan Plus (UIN:104N127V01)| The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate. During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

              @8Disclaimer: Standard  premium for 20-year old healthy male, non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Axis Max Life Smart Term Plan Plus (UIN: 104N127V01)| The above mentioned premium is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employees with a corporate, purchasing via web link. During policy issuance, Axis Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

              Disclaimer: ~10 year CAGR of Nifty SmallCap 250 Quality50 index as on 24/07/2023. Max Life Nifty Smallcap Quality Index Fund is passively managed Index fund that tracks the Nifty SmallCap 250 Quality50 index (subject to tracking error).

              Disclaimer: @2Standard premium for 20-year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Axis Max Life Smart Total Elite Protection Term Plan (UIN: 104N125V07). **The above mentioned is the discounted monthly premium to be paid in 1st year. Discount is applicable only for salaried employee with a corporate, purchased via web link | ~1Get back 4.67 Lakhs premiums paid under Special Exit value at 36th Policy Year. This can be exercised in any policy year starting 30th policy year, but not during the last 4 policy years. Available for minimum policy term of 40 years. Benefit available with special exit value - the total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums exclusive of any applicable taxes, cesses or levies. This feature shall be applicable on the base cover premium only and not for additional optional benefits like Accelerated Critical Illness, Accident cover, Joint life cover, any attached riders and Voluntary Sum Assured Top-Up| ~Singapore, Hong Kong, New Zealand, Australia, Canada, UAE, Oman, Qatar, Saudi Arabia, Kuwait, Sri Lanka, Maldives, Fil, Brunei, Taiwan, Mauritius, South Korea, Bahrain, China, France, Germany, Switzerland, Austria, Hungary, USA, UK, Japan, Belgium, Denmark, Spain, Greece, Ireland, Luxemburg, Italy, Netherlands, Finland, Sweden, Norway.

              Disclaimer: @++ Axis Max Life’s NIFTY Momentum Quality 50 Fund (SFIN: ULIF03127/10/24MOMQUALITY104) is a passively managed Index Fund that mirrors NIFTY 500 Multicap Momentum Quality 50 Index, subject to tracking error. The fund value calculation is done by projecting historical returns of NIFTY 500 Multicap Momentum Quality 50 Index, after adjusting for all expenses (except tracking error) in Axis Max Life Online Savings Plan (UIN: 104L098V06) for a 30-year-old male investing 10k per month for 10 years. The above values have been calculated assuming 24.9% p.a. gross investment returns as on 16/10/2024, which is the 10-year return of NSE's NIFTY 500 Multicap Momentum Quality 50 Index (backtested)

              ~4Subject to submission of all documents required for GST waiver.

              Disclaimer: **+NIFTY 500 Momentum 50 Index was launched in June'24. The past returns are back tested based on historical returns and formula (provided by NSE). These are returns of benchmark indices as on 11 June’24 and are not indicative of returns on Axis Max Life Insurance’s newly launched NIFTY 500 Momentum 50 Fund. Axis Max Life’s NIFTY 500 Momentum 50 Fund (SFIN: ULIF03014/08/24MOMENFIFTY104) is a passively managed Index Fund that mirrors NSE’s NIFTY 500 Momentum 50 Index, subject to tracking error. The fund value calculation is done by projecting historical returns of NSE’s NIFTY 500 Momentum 50 Index, after adjusting for all expenses (except tracking error) in Axis Max Life Online Savings Plan (UIN: 104L098V06) for a 30-year-old male investing 10k per month for 10 years. The above values have been calculated assuming 25% p.a. gross investment returns as on 11 June'24, which is the 10-year return of NSE's NIFTY 500 Momentum 50 Index (backtested).

              Please note, while our website has been updated with the changed corporate name and brand identity, our product collaterals will be updated in due course. We regret any inconvenience caused.

              Disclaimer: *6Check the Total Premium amount against the respective monthly premium values in the below table.

              For Sum assured of 75 lakh, 1 crore, 1.5 crore and 2 crore, the below calculations are based on Axis Max Life Smart Total Elite Protection Term Plan (A Non Linked Non Participating Individual Pure Risk Life Insurance Plan, UIN:104N125V07). Monthly premium amounts are excluding GST and before any applicable discounts assuming Regular Pay and monthly payment mode..

              Age of Male ApplicantPremium Amount for Rs. 75 lakh Term PlanPremium Amount for Rs. 1 crore Term PlanPremium Amount for Rs. 1.5 crore Term PlanPremium Amount for Rs. 2 crore Term Plan
              SmokerNon-SmokerSmokerNon-SmokerSmokerNon-SmokerSmokerNon-Smoker
              18 Years (PPT: 67 years)1,488/Month
              Total Premium: 11.33 lakh              		930/Month
              Total Premium: 7.08 lakh              		1,500/Month
              Total Premium: 11.42 lakh              		938/Month
              Total Premium: 7.14 lakh              		2,251/Month
              Total Premium: 17.13 lakh              		1,407/Month
              Total Premium: 10.71 lakh              		2,675/Month
              Total Premium: 20.37 lakh              		1,672/Month
              Total Premium: 12.73 lakh
              25 Years (PPT: 60 years)1,966/Month
              Total Premium: 13.40 lakh              		1,228/Month
              Total Premium: 8.38 lakh              		2,054/Month
              Total Premium: 14.06 lakh              		1,284/Month
              Total Premium: 8.75 lakh              		3,081/Month
              Total Premium: 21.01 lakh              		1,926/Month
              Total Premium: 13.13 lakh              		3,607/Month
              Total Premium: 24.59 lakh              		2,255/Month
              Total Premium: 15.37 lakh
              35 Years (PPT: 50 years)3,182/Month
              Total Premium: 18.08 lakh              		1,989/Month
              Total Premium: 11.30 lakh              		3,592/Month
              Total Premium: 20.41 lakh              		2,245/Month
              Total Premium: 12.76 lakh              		5,388/Month
              Total Premium: 30.61 lakh              		3,367/Month
              Total Premium: 19.13 lakh              		5,947/Month
              Total Premium: 33.79 lakh              		3,717/Month
              Total Premium: 21.12 lakh
              45 Years (PPT: 40 years)5,971/Month
              Total Premium: 27.14 lakh              		3,732/Month
              Total Premium: 16.96 lakh              		6,629/Month
              Total Premium: 30.13 lakh              		4,143/Month
              Total Premium: 18.83 lakh              		9,944/Month
              Total Premium: 45.20 lakh              		6,215/Month
              Total Premium: 28.25 lakh              		12,546/Month
              Total Premium: 57.02 lakh              		7,841/Month
              Total Premium: 35.64 lakh
              55 Years (PPT: 30 years)11,656/Month
              Total Premium: 39.73 lakh              		7,285/Month
              Total Premium: 24.83 lakh              		13,719/Month
              Total Premium: 46.77 lakh              		8,574/Month
              Total Premium: 29.23 lakh              		20,578/Month
              Total Premium: 70.15 lakh              		12,861/Month
              Total Premium: 43.84 lakh              		26,160/Month
              Total Premium: 89.18 lakh              		16,350/Month
              Total Premium: 55.74 lakh
              60 Years (PPT: 25 years)16,846/Month
              Total Premium: 47.86 lakh              		10,529/Month
              Total Premium: 29.91 lakh              		19,966/Month
              Total Premium: 56.72 lakh              		12,479/Month
              Total Premium: 35.45 lakh              		29,949/Month
              Total Premium: 85.08 lakh              		18,718/Month
              Total Premium: 53.18 lakh              		37,689/Month
              Total Premium: 107.07 lakh              		23,555/Month
              Total Premium: 66.92 lakh

               

               

              Age of Female ApplicantPremium Amount for Rs. 75 lakh Term PlanPremium Amount for Rs. 1 crore Term PlanPremium Amount for Rs. 1.5 crore Term PlanPremium Amount for Rs. 2 crore Term Plan
              SmokerNon-SmokerSmokerNon-SmokerSmokerNon-SmokerSmokerNon-Smoker
              18 Years (PPT: 67 years)1,488/Month
              Total Premium payable: 11.33 lakh              		930/Month
              Total Premium payable: 7.08 lakh              		1,500/Month
              Total Premium payable: 11.42 lakh              		938/Month
              Total Premium payable: 7.14 lakh              		2,251/Month
              Total Premium payable: 17.13 lakh              		1,407/Month
              Total Premium payable: 10.71 lakh              		2,675/Month
              Total Premium payable: 20.37 lakh              		1,672/Month
              Total Premium payable: 12.73 lakh
              25 Years (PPT: 60 years)1,707/Month
              Total Premium payable: 11.64 lakh              		1,067/Month
              Total Premium payable: 7.28 lakh              		1,744/Month
              Total Premium payable: 11.89 lakh              		1,090/Month
              Total Premium payable: 7.43 lakh              		2,616/Month
              Total Premium payable: 17.84 lakh              		1,635/Month
              Total Premium payable: 11.15 lakh              		2,972/Month
              Total Premium payable: 20.26 lakh              		1,858/Month
              Total Premium payable: 12.67 lakh
              35 Years (PPT: 50 years)2,617/Month
              Total Premium payable: 14.87 lakh              		1,636/Month
              Total Premium payable: 9.29 lakh              		2,905/Month
              Total Premium payable: 16.50 lakh              		1,815/Month
              Total Premium payable: 10.32 lakh              		4,357/Month
              Total Premium payable: 24.76 lakh              		2,723/Month
              Total Premium payable: 15.47 lakh              		4,801/Month
              Total Premium payable: 27.28 lakh              		3,000/Month
              Total Premium payable: 17.05 lakh
              45 Years (PPT: 40 years)4,794/Month
              Total Premium payable: 21.79 lakh              		2,996/Month
              Total Premium payable: 13.62 lakh              		5,061/Month
              Total Premium payable: 23.00 lakh              		3,163/Month
              Total Premium payable: 14.38 lakh              		7,591/Month
              Total Premium payable: 34.50 lakh              		4,744/Month
              Total Premium payable: 21.56 lakh              		9,496/Month
              Total Premium payable: 43.16 lakh              		5,935/Month
              Total Premium payable: 26.98 lakh
              55 Years (PPT: 30 years)8,883/Month
              Total Premium payable: 30.28 lakh              		5,552/Month
              Total Premium payable: 18.93 lakh              		10,102/Month
              Total Premium payable: 34.44 lakh              		6,314/Month
              Total Premium payable: 21.52 lakh              		15,153/Month
              Total Premium payable: 51.66 lakh              		9,471/Month
              Total Premium payable: 32.29 lakh              		19,378/Month
              Total Premium payable: 66.06 lakh              		12,111/Month
              Total Premium payable: 41.29 lakh
              60 Years (PPT: 25 years)12,611/Month
              Total Premium payable: 35.83 lakh              		7,882/Month
              Total Premium payable: 22.39 lakh              		14,826/Month
              Total Premium payable: 42.12 lakh              		9,266/Month
              Total Premium payable: 26.32 lakh              		22,239/Month
              Total Premium payable: 63.18 lakh              		13,899/Month
              Total Premium payable: 39.49 lakh              		27,941/Month
              Total Premium payable: 79.38 lakh              		17,463/Month
              Total Premium payable: 49.61 lakh