Disclaimer:
In Unit Linked Policies, the investment Risk in the investment portfolio is borne by the policyholder.
With Axis Max Life Investment Plans
Written by
Kriti Arora
Insurance Writer
Kriti is a content marketing and branding expert with more than 13 years of rich experience across BFSI and Telecom industries. She is currently leading Digital Creative Strategy for Axis Max Life insurance.
Reviewed by
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.
This plan comes with extensive benefits that help you live your retired life without any financial worries. Here are some of the key benefits of this plan: -
Single Life Immediate Annuity (without death benefit)
A fixed annuity is paid to the annuitant throughout life as per the chosen mode. Payment of annuity will stop on the death of the annuitant.
Single Life Immediate Annuity (with death benefit),
A fixed annuity is paid to the annuitant throughout life as per the chosen mode. Payment of the annuity will stop on the annuitant's death, and 100% of the single premium is paid to the nominee.
Joint Life Immediate Annuity (without death benefit)
A fixed annuity is paid till the death of the last surviving annuitant. Payment of annuity will stop on the death of the last survivor (annuitant).
Joint Life Immediate Annuity (with death benefit)
A fixed annuity is paid till the death of the last surviving annuitants as per the chosen mode. Payment of Income will stop on the death of the last survivor, and 100% of the single premium is paid to the nominee. Under this annuity option, you can enjoy the option to withdraw the present value of annuities to be paid in the next 5 years as a lump sum.
Default Family Income option (available specifically for National Pension System (NPS) subscribers only)
Under this option, the annuity benefits are payable following the regulations as prescribed by PFRDA. As per current regulations, the annuity benefits would be paid to the subscriber and their spouse as per the 'Joint Life Annuity with death benefit'. If the subscriber does not have a spouse, the benefits will be paid as per the 'Single Life Annuity with death benefit'.
On the death of the annuitant(s), the dependent parents will be offered to buy a new annuity plan with the proceeds arising from the Premium Refund. In the absence of parents or after the death of parents, the premium will be refunded to the nominee/legal heir.
ARN: PDP/SGPP/240225
(Source: Individual Death Claim Paid Ratio as per Audited Financials for FY 2023-2024)
(Source : As reported to IRDAI, FY 2023-24)
In force (individual) (Source : Axis Max Life Public Disclosure, FY 2023-24)
(Source : Axis Max Life Public Disclosure, FY 2023-24)
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Individual
