Axis Max Life Unveils Smart Term Plan Plus, Offering upto 2x Return of Premium

Axis Max Life Insurance ("Axis Max Life"/ "Company") has announced the launch of the Axis Max Life Smart Term Plan Plus (UIN: 104N127V01), a non-linked, non-participating, individual pure-risk life insurance plan designed to address diverse needs and life stages, with coverage tailored for customers' needs. It offers a benefit to receive up to 200% of the total premium, paid-back as a special exit value with no additional premium to be paid to avail this benefit.

The plan also offers women-centric features tailored to the unique requirements of this customer segment. It includes a maternity cover benefit that safeguards against pregnancy complications and also covers the new-born for congenital anomalies for upto 3 years of birth. It offers Lifeline Plus benefit that allows the female Life Insured to increase the coverage in case of her spouse's death for upto 50% of Base Sum Assured, or Rs. 50 lakhs (whichever is lower). Most significantly, the plan offers a 15% discount on premiums for female policyholders compared to male policyholders. Moreover, salaried females are eligible for an additional 15% discount on the first year premium which can be up to total discount of 27.75% on first year premium.

Prashant Tripathy, Managing Director and CEO, Axis Max Life, comments, "While awareness of term insurance is increasing, its penetration in India remains significantly low, leaving a substantial protection gap for many families. The Axis Max Life Smart Term Plan Plus is designed to address this critical need by offering affordable and accessible protection to a wider segment of the population. With its flexible options and competitive pricing, the plan is an attractive and budget-friendly choice, particularly for young customers. I am confident that by making term insurance more accessible and affordable with this plan, we can play a crucial role in bridging the protection gap and building a more financially secure India."