Axis Max Life - Maxis Super Plan - Growth Super Fund

* Life Insurance Coverage - Choice of protection cover basis age of the Life Insured.
* Option to choose Premium Payment Term as per your convenience.
* Choice of five (5) Funds for investors with different risk appetite.
* Dynamic Asset Allocation mechanism to protect your investments against market volatility.
* Flexibility to make Partial Withdrawals to meet unplanned expenses.

Minimum/ Maximum Age of Life Insured at Entry (Age as of Last Birthday):- Minimum Entry Age : 18 years
Maximum Entry Age : 55 years.

Minimum Sum Assured Rs. 3,85,000
Maximum Sum Assured No Limit, subject to underwriting, as per the Board approved underwriting policy of the Company

You have a period of 15 days from the date of receipt of the Policy to review the terms and conditions of the Policy and where you disagree to any of those terms or conditions, you have the option to return the Policy stating the reasons for your objections, upon which you shall be entitled to an amount which will be equal to non-allocated premium plus charges levied by cancellation of Units plus Fund Value at the date of cancellation less charges deducted towards mortality & rider benefits (including service tax on these charges) for the period of cover, expenses incurred on medical examination, if any, and on account of stamp duty. This product will not be offered through Distance Marketing.

A Grace Period of thirty days from the premium due date (15 days in case of Monthly mode) for payment of each premium will be allowed. The insurance coverage continues during the Grace Period.

The premium allocation charge, expressed as a percent of premium received, is depicted in the table below.
Policy Year Allocation Charge(as % of Premium)
1 to 5 years 4%
Year 6 & above 2%

This is a charge levied as a percentage of the value of assets and shall be appropriated, usually daily, by adjusting the Net Asset Value of the Fund. The rate to be levied will be equal to the annual rate, as given above, divided by 365 and multiplied by the number of days that have elapsed since the previous Unit valuation date. The annual rate of Fund Management Charge is as below.
Name of The Fund Charge (per annum) as % of Fund Value
Growth Fund 1.25%
Growth Super Fund 1.25%
Balanced Fund 1.10%
Conservative Fund 0.90%
Secure Fund 0.90%

Mortality charge is levied for providing risk cover to the Life Insured during the Policy Term. This charge is levied on the attained age of the Life Insured for the Sum Assured and is unisex. On each monthly anniversary, appropriate number of Units are cancelled from the Unit Account at their Unit Price to meet mortality for the Life Insurance starting from the date of commencement of the policy.

This is a charge expressed as a percentage of premiums paid i.e. 0.24% of Annualized Premium per month for both variants and is levied at each monthly anniversary by cancelling proportionate Units starting from the date of commencement of policy. This charge will inflate at 4% p.a. compounded annually from start of the 2nd Policy Year but will not be greater than ` 400 per month at any point during the Policy Term.

After the first five policy years, a maximum of two Partial Withdrawals are allowed in a policy year and both are free of charge.

If the Life Insured, whether minor or major, dies by suicide, whether sane or insane, within twelve (12) months from the Effective Date of Policy or the date of any revival of this Policy, all risks under the Policy shall come to an end simultaneously and the Policy will terminate. In such an event, we will pay only the Fund Value, as on the date of death, to the beneficiary (nominee/Policyholder, as the case may be).