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Home  » Money  » Insurance » Axis Max Life - Smart Invest Pension Plan - Pension Balanced Fund
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Axis Max Life - Smart Invest Pension Plan - Pension Balanced Fund

NAV on (30 Jan 2026)
54.3507

Objectives

Max New York - SMART Invest Pension (unit linked pension plan) is an unparalleled pension plan that gives you an option to let your premiums automatically increase at a fixed rate and helps you combat inflation and effectively preserve your objective of a secure retirement. Also, as we understand that the portfolio risk should reduce as you near your retirement to conserve the corpus from any unnecessary erosion and thats the reason why SMART Invest Pension offers the Dynamic Fund Allocation feature at no extra cost. This feature enables your money to automatically get invested basis the years left for your retirement date as chosen by you and frees you from the worry of switching your funds manually from one fund to another.
Balanced Fund:It provides balanced returns from investing in both fixed income securities (to target stability of returns) as well as in equities (to target growth in capital value of assets).
Asset allocation :Government Securities--20 - 50%
Corporate Bonds(Investment Grade)--20 - 40
Money Market Instruments / Cash--0 - 20
Equities--10 - 40.

Benefits

Benefits:
1. Invest more through Top-ups to match your cash flow
2. Flexibility to choose Premium Payment Option
3. Flexibility to choose Deferment Period
4. Flexible Investment funds
5. Dynamic Fund Allocation
Tax Benefit
1. Your premiums are eligible for deduction u/s 80CCC up to Rs.1,00,000/- every year.
2. One-third of the corpus can be commuted at vesting age the amount commuted are eligible for tax exemption u/s 10A.

Entry Age Details

Eligibility Conditions

Entry Age (age on as at last birthday)

Between 18 to 60 years

Chosen Vesting (i.e. Retirement) Age

Between 50 to 70 years

Deferment Period

10 years to 52 years

(Subject to minimum age on vesting of 50 years)

Minimum ATP

Regular Pay - Rs. 10,000

Premium Payment Term

Premium Payment Frequency: You have the option to choose any one of the premium payment frequencies in case of a regular premium option- Annual, Semi-annual, Quarterly or Monthly. Your premium payment dates will depend upon the frequency chosen by you. In case of a single payment option, the entire premium is payable just once, at the time of proposal.

Top-up Premium

Payment of Top Up Premium: A Top Up premium is an additional amount of premium over and above the Annual Target Premium/Single Premium as agreed at the commencement of the contract. You have the option to pay Top Up premiums subject to a minimum of Rs. 5,000 and there is no upper limit. Please note that any premium payment in any policy year will be first used to pay the ATP and then the excess amount will be treated as Top Up premium. All premiums are subject to applicable taxes including service tax, which shall be to the account of the policyholder.

Investment Details of the Plan

Direct your investments in any one or more of the following five unit linked investment funds we offer: SECURE, CONSERVATIVE, BALANCED, GROWTH and GROWTH SUPER. These funds invest in Fixed Income and Equity Assets as follows:

ASSET TYPES

SECURE
FUND (%)

CONSERVATIVE
FUND (%)

BALANCED
FUND (%)

GROWTH
FUND (%)

GROWTH SUPER
FUND (%)

Govt. Securities

50-100

50-80

20-50

0-30

0-20

Corporate Bonds
(Investment Grade)

0-50

0-50

20-40

0-30

0-20

Money Market
Instruments/Cash*

0-40

0-40

0-40

0-40

0-30

Equities

Nil

0-15

10-40

20-70

70-100

The investment objectives of these funds are given below:

Secure Fund provides stable return by investing in relatively low risk assets. The fund will invest exclusively in fixed interest securities such as Government Securities, Corporate Bonds etc.

Conservative Fund provides stable return by investing in assets of relatively low to moderate levels of risk. The fund will invest primarily in fixed interest securities such as Government Securities, Corporate Bonds etc. However, the fund will also invest in equities.

Balanced Fund provides balanced returns from investing in both fixed Income securities (to target stability of returns) as well as in equities (to target growth in capital value of assets).

Growth Fund provides potentially higher returns to unit holders by investing primarily in Equities (to target growth in capital value of assets); however, the fund will also invest in Government Securities, Corporate Bonds and Money Market Instruments.

Growth Super Fund provides potentially higher returns to unit holders by investing predominantly in Equities (to target growth in capital value of assets); however, the fund may also invest in Government Securities, Corporate Bonds and Money Market Instruments.

Dynamic Fund Allocation

You may at the stage of proposal opt for 'Dynamic Fund Allocation' pursuant to which we shall effect automatic allocation and switch of units to funds as per a pre-determined proportion as specified in the table below. You may opt out of the 'Dynamic Fund Allocation' only once during the deferment period, which will then be effective on the next policy anniversary. Once opted out, you cannot again opt for the 'Dynamic Fund Allocation'.

In this feature, the premiums will be invested in pre-determined funds at a pre-determined percentage. This shall be based on the years remaining for vesting at the time of proposal to start with and will automatically change during the policy duration as the policyholder nears vesting age. Under this feature the fund percentages as specified in the table below will be maintained through automatic switching and rebalancing of funds as applicable.

Years to Vesting

Growth Super Fund

Balanced Fund

Secure Fund

0-10 years

20%

40%

40%

11 - 20 years

40%

40%

20%

21 - 30 years

60%

20%

20%

31 - 40 years

80%

20%

NIL

41 - 52 years

100%

Premium allocation Charges

Premium Allocation Charge: 'Premium Allocation Charge' is a charge, expressed as a percentage of the premiums received. This charge will be deducted from the premiums received and the balance of premium will be allocated to purchase the units.

Premium Bands
(in Rs.)

ATP
Year1

ATP
Year 2 and Onwards

10,000 to 19,999

30%

Nil

20,000 to 49,999

29%

50,000 to 149,999

28%

1,50,000 to 2,99,999

27%

3,00,000 to 4,99,999

25%

5,00,000 and above

20%

Premium Bands
(in Rs.)

Single Premium

1,50,000 to 2,99,999

5%

Premium Allocation Charge in Respect of Top Up Premium: 2%

Fund Management Charges

Fund Management Charge:
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.
Fund Management Charge [as a %age of Net Assets]:
Secure Fund - 0.90%
Conservative Fund - 0.90%
Balanced Fund - 1.10%
Growth Fund - 1.25%
Growth Super Fund - 1.35%

Policy Administration Charges

Policy Administration Charge: This charge is expressed as a fixed amount. This charge is levied at the beginning of each policy month from the policy fund by cancelling units of equivalent amount. The rate of the policy administration charge is a fixed amount of Rs. 50 per month, which will increase every year by 5% p.a., compounded annually.

Switching Charges

Switching Charges: This is a charge levied on switching of monies from one fund to another available fund(s) and is a fixed charge levied at the time of effecting a switch. We will not charge on first 6 switches in every policy year. Any subsequent switch will attract a charge of Rs. 500 per transaction. We may review this charge in future after clearance from IRDA but such charge shall not exceed Rs. 1,000 per switch.

Surrender Charges

Surrender Charge:

Regular Pay Option: (Irrespective of whether level premium or increasing premium option is chosen)

If Policy is Surrendered

Surrender Charge as a Percentage
of Initial Annual Target Premium

In 1st Policy Year

100%

In 2nd Policy Year

45%

In 3rd Policy Year

40%

In 4th Policy Year

35%

In 5th Policy Year

30%

In 6th Policy Year

25%

In 7th Policy Year

20%

In 8th Policy Year or later

Single Pay Option:

If Policy is Surrendered

Surrender Charge as a Percentage
of Single Premium

In 1st Policy Year

7%

In 2nd Policy Year

6%

In 3rd Policy Year

5%

In 4th Policy Year

4%

In 5th Policy Year

3%

In 6th Policy Year

2%

In 7th Policy Year

1%

Returns (as on 30-Jan-2026)

Period Absolute (%) Annualised (%)
1 Week 0.4 0
1 Month -0.9 -10.3
3 Months -0.1 -0.4
6 Months 0.9 2
1 Year 5.2 5.2
2 Years 15.1 7.3
3 Years 32 9.7
5 Years 50.7 8.5

Claim & Solvency Ratio

Claim Ratio Solvency Ratio
100% (2023-24) -

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Copayment (copay): A fixed amount you pay for a covered health care service, typically when you get the service. Coinsurance: The percentage of the cost you pay for covered health services after you've paid your deductible. For example, if your coinsurance is 20%, you pay 20% of the bill, and the insurance company pays the remaining 80%.
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What is a Flexible Spending Account (FSA)? +
A tax-advantaged account for people with low-deductible health plans (LDHPs). The funds roll over from year to year and can be used for qualifying medical expenses.
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An HMO is a type of health insurance plan that requires you to choose a primary care physician (PCP) and get referrals from them to see specialists. HMOs often have lower premiums and out-of-pocket costs but offer less flexibility in choosing providers.
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What is the difference between a Health Savings Account (HSA) and a Flexible Spending Account (FSA)? +
HSA: A tax-advantaged account for people with high-deductible health plans (HDHPs) The funds roll over from year to year and can be used for qualifying medical expenses. FSA: A tax-advantaged account for people with low-deductible health plans (LDHPs) The funds roll over from year to year and can be used for qualifying medical expenses.
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What are the different types of life insurance? +
Term Life Insurance: Provides coverage for a specific period (e.g., 10, 20, or 30 years). If you pass away during this term, your beneficiaries receive the death benefit. It does not build cash value. Whole Life Insurance: Offers lifetime coverage with a death benefit and also builds cash value over time, which you can borrow against or use. Universal Life Insurance: A flexible policy that allows you to adjust the premiums and death benefit while also building cash value.
How much life insurance coverage do I need? +
The amount of coverage you need depends on factors like your income, debts, family needs, and long-term financial goals. A common rule is to have coverage worth 10 to 15 times your annual income, but this can vary based on your individual situation.
What is the difference between beneficiaries and policyholders? +
The policyholder is the person who owns the life insurance policy and pays the premiums, while the beneficiary is the person or group that receives the death benefit when the policyholder passes away.
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Yes, you can change your beneficiaries at any time during the life of the policy, as long as the policy is in force and you follow the correct procedure with the insurance company.
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The contestability period is the time during which you have the right to contest the decision of the insurer to pay the death benefit. This period varies depending on the type of life insurance policy and the insurer.
Does life insurance cover accidental death? +
Some life insurance policies include accidental death coverage, while others may require a separate rider for this benefit. Be sure to review your policy to understand what’s covered.
Can I cancel my life insurance policy at any time? +
Yes, you can cancel your life insurance policy at any time, provided you follow the correct procedure with the insurance company.
What is cash value? +
Cash value is the accumulated value of the life insurance policy that can be used to pay for expenses, such as medical bills or funeral expenses.
How do I borrow against cash value? +
You can borrow against the cash value of your life insurance policy, but it will need to be repaid, and any unpaid loan will reduce the death benefit.
What is the difference between whole life and universal life insurance? +
Whole life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years) and builds cash value over time. Universal life insurance offers lifetime coverage with a death benefit and also builds cash value over time.
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Life insurance premiums are based on factors like age, health, lifestyle (e.g., smoking), coverage amount, and type of policy. Generally, younger, healthier individuals pay lower premiums.
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If you have a whole life or universal life policy, it may build cash value over time. You can borrow against this cash value, but it will need to be repaid, and any unpaid loan will reduce the death benefit.
What happens if I stop paying my life insurance premiums? +
If you stop paying premiums, your policy may lapse. For permanent policies like whole or universal life, the cash value may cover the premiums for a time, but eventually, if premiums are not paid, the policy will end.
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Auto insurance is a contract between you and an insurance company that provides financial protection against damage or injury caused by accidents, theft, or other incidents involving your vehicle. It covers both liability and your vehicle's repair costs depending on the type of policy.
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There are several types of auto insurance coverage, including liability, collision, comprehensive, uninsured/underinsured motorist, and additional coverage like roadside assistance and collision damage waiver.
How much auto insurance do I need? +
The amount of coverage you need depends on factors such as the value of your car, your driving habits, your state's legal requirements, and whether you own or lease your vehicle. A good starting point is to meet your state's minimum required coverage, but you may want additional coverage for added protection.
Can I cancel my auto insurance policy at any time? +
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What is the difference between liability and comprehensive coverage? +
Liability coverage covers the damages and injuries caused by accidents, while comprehensive coverage also covers non-accident damages, such as theft or vandalism.
How do I choose the right auto insurance policy? +
When selecting an auto insurance policy, consider factors such as the type of coverage you need, your driving habits, the value of your vehicle, and your state's legal requirements.
What factors affect my auto insurance premium? +
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What is a deductible? +
A deductible is the amount you must pay out of pocket before your insurance policy starts to cover the remaining cost of repairs or claims. For example, if you have a $500 deductible and incur $2,000 in damages, you will pay $500, and your insurer will pay the remaining $1,500.
What is the difference between comprehensive and collision coverage? +
Collision coverage pays for repairs to your vehicle after a collision with another vehicle or object, regardless of who is at fault. Comprehensive coverage covers non-collision incidents, such as theft, vandalism, or damage from natural disasters.
Can I get uninsured/underinsured motorist coverage? +
Yes, uninsured/underinsured motorist coverage is available in some states. This coverage provides financial protection for you if another driver is uninsured or underinsured.
Is auto insurance required by law? +
Yes, in most states, you are required to have a minimum level of liability insurance. Some states also require additional coverage like Personal Injury Protection (PIP) or uninsured motorist coverage. The requirements vary by state, so it’s important to check your local laws.
What happens if I don’t have auto insurance? +
If you drive without insurance, you risk facing legal penalties, fines, and the possibility of your driver's license being suspended. If you're involved in an accident, you could be held responsible for the damages.
Can I add other drivers to my auto insurance policy? +
Yes, you can add other drivers, such as family members or friends, to your policy. However, their driving record and age may affect your premium. It's important to inform your insurer about all the drivers in your household.
What should I do if I get into an accident? +
If you're in an accident, follow these steps: Ensure safety by moving to a safe location if possible. Call the police and file a report. Exchange contact and insurance information with the other driver(s). Take photos of the accident scene, vehicle damage, and injuries. Notify your insurance company about the accident as soon as possible.
What is home insurance? +
Home insurance is a contract between you and an insurance company that provides financial protection against damage or loss caused by natural disasters, theft, or other incidents.
What types of home insurance coverage are available? +
There are several types of home insurance coverage, including flood, fire, burglary, and liability. You may also have coverage for water damage, mold, and other property damage.
How much home insurance do I need? +
The amount of home insurance coverage you need depends on the value of your property, the type of coverage you want, and your insurance provider. You may also need additional coverage for water damage, mold, and other property damage.
Can I cancel my home insurance policy at any time? +
Yes, you can cancel your home insurance policy at any time, provided you follow the correct procedure with the insurance company.
What is the difference between flood and fire coverage? +
Flood coverage covers damage caused by floods, while fire coverage covers damage caused by fires.
How do I choose the right home insurance policy? +
When selecting home insurance, consider factors such as the type of coverage you need, the value of your property, and your insurance provider.
What factors affect my home insurance premium? +
Factors such as the type of coverage you need, the value of your property, and your insurance provider can significantly impact your premium.
Can I cancel my home insurance policy at any time? +
Yes, you can cancel your home insurance policy at any time, provided you follow the correct procedure with the insurance company.

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