Individual
Axis Max Life Group Credit Life Premier Plan
With ambition at our fingertips, it's no surprise that many of us turn to financial aid such as loans when pursuing dreams like owning a car or house. But, have you ever wondered what happens if an outstanding loan gets passed on to your family due to a tragedy?
For such situations, we offer Axis Max Life Group Credit Life Premier Plan (UIN: 104N095V03), a group master policy for borrowers of banks/ financial institutions. In case of eventualities, Axis Max Life pays the rest of the premiums so that your family doesn’t get the additional burden of paying off the loan liability besides undergoing emotional trauma. This plan helps lending institutions secure their assets and avoid loan defaults.
- Ensures liabilities don’t get passed on to your loved ones in case of your unfortunate demise
- Saves banks/financial institutions from running into losses due to default payments in case of death of the policyholder
- An attractive low-cost protection to cover against loans during uncertainties
What does Axis Max Life Group Credit Life Premier Plan Offer to Members and Lending Institutions?
Protection against loan liabilities
Low-cost Protection
Additional Protection through Riders
All You Need to Know about Axis Max Life Group Credit Life Premier Plan
- Plan Benefits
- Eligibility Criteria
- Downloads
| Age at Entry | |
| Maximum age at entry | |
| For Education Loan | 14 years (age as on last birthday) |
| For any other type of loan (except education loan) | 18 years (age as on last birthday) |
| Maximum age at entry | 75 years (age as on last birthday) |
| Age at Maturity | |
| Maximum age at Maturity | 77 years (age as on last birthday) |
| Policy Term | |
| Minimum Policy Term | 1 month |
| Maximum Policy Term | 40 years |
| Group Size to Initiate a Group Scheme | |
| Minimum group size | 50 members within a policy year |
| Maximum group size | No limits |
| Face Amount (Per Member) | |
| Minimum face amount | Rs. 10,000 per member |
| Maximum face amount | No Limit, but subject to underwriting |
| Premium Amount | |
| Minimum Premium | Minimum Premium per member is subject to minimum Sum Assured per member and applicable premium rates |
| Maximum Premium | No Limit |
More points to be noted:
This policy covers both natural and accidental death-causing events.
There should be a clear relationship between individual members and the group policyholder.
The policyholder will have the legal authority to act on behalf of all the members of the group under the group insurance contract.
No group should have been formed for the sole purpose of insurance coverage.
| Downloads | Actions |
| Policy Document |
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| Prospectus |
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| Leaflet |
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| Premium Rates |
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| Customer Information Sheet |
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Additional Benefits Through Riders
Axis Max Life Group Critical Illness Secure (Accelerated benefit) Rider
Group Critical Illness Secure (Accelerated Benefit) Rider protects the lender from loan defaults, in case the borrower is diagnosed with Critical Illness. (For further details, please refer to Axis Max Life Group Critical Illness Secure (Accelerated Benefit) Rider Prospectus, UIN – 104B032V03)
Downloads
Why Choose Axis Max Life?
99.65% Claims Paid Percentage
304 Offices Axis Max Life's Presence
₹1,779,409 Cr. Sum Assured
₹150,836 Cr. Assets Under Management
ARN: PDP/GCLP/011024
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- 0124 648 8900(09:00 AM to 09:00 PM Monday to Saturday)
- service.helpdesk@maxlifeinsurance.comEmail
- SMS ‘LIFE’ to 5616188Message
- Let us call you back
- 1860 120 5577(9:00 AM to 6:00 PM Monday to Saturday)
- Write to usPlease write to us incase of any escalation/feedback/queries.
- 011-71025900, 011-61329950(9:00 AM to 6:00 PM Monday to Saturday)
- nri.helpdesk@maxlifeinsurance.comPlease write to us incase of any escalation/feedback/queries.