Axis Max Life Insurance, a joint venture (JV) between Max Financial Services and Axis Bank, has launched the Axis Max Life Smart Term Plan Plus, 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 safeguard 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 lakh (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.
Max Financial Services is a part of the Max group, an Indian multi business corporation.
