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Smart Guaranteed Pension Plan

Axis Max Life Smart Guaranteed Pension Plan

Smart Guaranteed Pension Plan is a Non-linked, Non-Participating, Single Premium Individual/Group General Savings Annuity Plan (UIN: 104N122V15) that offers a regular stream of income after your retiremen

Disclaimer:

In Unit Linked Policies, the investment Risk in the investment portfolio is borne by the policyholder.

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Benefits of Axis Max Life Smart Guaranteed Pension Plan

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: -

Guaranteed Annuity

A fixed annuity is paid at the end of every chosen regular period. In the Joint Life annuity variant, the secondary annuitant will continue to get the same fixed amount after the primary annuitant's death.

The annuity will be paid only after the submission of 'Proof of Living' at an interval of every 5 years if you opt for the 'with death benefit' option. In other variants, submission is required every year.

For the Single Life Annuity, the annuity is paid as long as the annuitant is alive. For Joint Life Annuity, the annuity is paid till the death of the last surviving annuitants.

Death Benefit

The death benefit is payable only if you opt for the immediate annuity with the death benefit for both Single and Joint life variants. It includes 100% of the single premium and the top-up premiums if any. It is paid as a lump sum to the nominee at the annuitant's death. However, the policy will be terminated after paying the death benefit.

Surrender Option

The surrender value is payable only in the case of annuity variants with death benefit options. The policy can be surrendered at any time after the end of the free look period.

The Guaranteed Surrender Value is 50% of the single premium paid minus the annuities already paid during the policy year of surrender.

Top-up Option

You can make top-up payments that will enhance your annuity amount. You can top-up the plan with a minimum of Rs. 1,00,000, and there is no capping to the top-up limit. One of the most significant benefits of this plan is that you can make unlimited top-ups for the first 10 years from the date of policy issuance.

Advance Annuity Option

Axis Max Life offers a unique option to withdraw the present value of annuities, to be paid in the next 5 years as a lump sum. However, this option is available only for the Joint Life Annuity for Life with a death benefit on the death of the first annuitant. The surviving annuitant can avail this benefit at any time within 3 months of the annuitant's death.

When you exercise this option, the lump sum is paid immediately. The payments for the next 5 years shall stop from the next policy anniversary.

Tax Benefits

The tax benefits are subject to the prevailing tax laws at the time of payment of premium or receipt of benefits.

What do You get with Axis Max Life Smart Guaranteed Pension Plan?

Guaranteed Income

You can get a guaranteed life-long income after retirement. It can help you manage your regular expenses and meet your financial needs.

Payout Flexibility

Enjoy the flexibility of receiving your annuity pat-out monthly, quarterly, half-yearly, or yearly.

Multiple Annuity Options

You can choose Single Life Annuity or Joint Life Annuity,where your partner continues to receive the annuity in your absence.

Return of Premium

The nominee will receive the total premium amount as the lump sum death benefit upon the annuitant's death.

All You Need to Know about Axis Max Life Smart Guaranteed Pension Plan

Annuity Options

Eligibility

How this plan works?

Minimum & Maximum Premium

Annuity Payment Modes

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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/041224

Our Range of Pension & Retirement Plans

AXIS MAX LIFE SARAL PENSION

Guaranteed income for lifetime
Option to choose a single or a joint life annuity
Option to receive return of purchase price on death of policyholder

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AXIS MAX LIFE GUARANTEED LIFETIME INCOME PLAN

Guaranteed income for lifetime
Option to choose a single or a joint life annuity
Option to receive return of purchase price on death of policyholder

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AXIS MAX LIFE PERFECT PARTNER SUPER

Guaranteed payout of 212.5% of sum assured at the age of 75
Insurance coverage till 75 years, with withdrawal flexibility
Guaranteed benefits for spouse through riders

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Why Choose Axis Max Life?

99.65% Death Claim Paid Ratio

(Source: Individual Death Claim Paid Ratio as per Audited Financials for FY 2023-2024)

304 Offices

(Source : As reported to IRDAI, FY 2023-24)

₹1,779,409 Cr. Sum Assured

In force (individual) (Source : Axis Max Life Public Disclosure, FY 2023-24)

₹150,836 Cr. Assets Under Management

(Source : Axis Max Life Public Disclosure, FY 2023-24)

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Axis Max Life Smart Guaranteed Pension Plan

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