NewsVoir
New Delhi [India], February 20: Axis Max Life Insurance Ltd. {formerly known as Max Life Insurance Company Ltd.} ("Axis Max Life"/ "Company"), has launched the Axis Max Life Smart Term with Additional Returns (STAR) ULIP (UIN: 104L128V01), a Unit Linked, Non-Participating Individual Life Insurance Plan that offers both life insurance protection and market-linked returns.
The product is designed to help customers secure their financial future while also offering opportunities for long-term wealth creation. It provides coverage for accidental death and total and permanent disability, with optional riders. Additionally, policyholders can choose from a wide range of market-linked funds and investment strategies based on their individual risk preferences and financial goals.
Key Features of the Axis Max Life Smart Term with Additional Returns (STAR) ULIP:
- High Sum Assured Multiple - The plan provides a sum assured multiple of up to 215 times the base annualized premium, ensuring significant financial support for families in the event of unforeseen circumstances.
- Comprehensive Shield - The product's 3D life Secure Variant provides a comprehensive shield, including Death, Critical Illness/ Dismemberment coverage.
- Funding of Premium: Up to 3 times (chosen by Policyholder) of due premiums funded in case of Death, Critical Illness or Dismemberment in 3D Life Secure Variant.
- Wealth Creation: Market linked returns with high performing funds
The Axis Max Life Smart Term with Additional Returns (STAR) ULIP comes with two unique Variants:
1. The Life Secure variant offers high death multiple (ranging from 10 - 215 times of annualized premium). Upon maturity, it pays out the total fund value, providing additional financial support during challenging times.
2. The 3D Life Secure Variant provides a lump sum death benefit along with a monthly payout of 20% of the base annualized premium as 'Income Benefit' for 10 years. Additionally, in case of death or critical illness or dismemberment, the solution will fund the up to 3 times of all future outstanding premiums, and upon maturity, it pays out the total fund value, providing additional financial support during challenging times.
The customer has the choice to safeguard himself/herself by the addition of optional rider for protection against death (all causes), accidental death, total or permanent disability due to accident.
Vaibhav Kumar, SVP and Head - Products & Ecommerce, Axis Max Life Insurance, said "STAR ULIP embodies Axis Max Life's 'Double Bharosa' philosophy by combining robust financial protection with long-term wealth creation. In an evolving economic landscape, individuals seek financial instruments that provide security while enabling growth. By integrating market-linked opportunities with comprehensive coverage, we aim to empower customers with the confidence to navigate their financial journeys and secure their futures effectively."
The Axis Max Life Smart Term with Additional Returns (STAR) ULIP aims to empower customers with enhanced flexibility, offering emergency withdrawals and up to 3x returns on charges through loyalty additions and wealth boosters.
Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per the annual audited financials for FY2023-24, Axis Max Life Insurance has achieved a gross written premium of INR 29,529 Cr.
For more information, please visit the company website at www.maxlifeinsurance.com
In this policy, the investment risk in investment portfolio is borne by the policyholder
THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER OR WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF THE FIFTH YEAR.
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