Axis Max Life - Smart Steps Plan - Balanced Fund

NAV on (20 Jan 2026)

77.6429

Objectives

Max New York - SMART Steps is a regular premium unit linked life insurance childrens plan, which will help you plan for your childs future in a SMART way and takes your worries away. This plan offers the required financial protection for your loved ones if you are not alive and provides an unmatched investment opportunity by way of well managed investment funds. This policy also entitles you to make partial withdrawals for various unplanned expenses in the future.
Key Benefits :
An unmatched investment opportunity by way of well managed Investment Funds
A no-compromise 360 degree protection to your children if you are not alive
Financial protection for your loved ones if you are not alive
Facility of partial withdrawals for those unplanned expenses
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).
Asset allocation :
Equities--10% - 40%
Corporate Bonds--20% - 40%
Government Securities--20% - 50%
Money Market instruments--0% - 40%

Benefits

DEATH BENEFIT:
a) 100% of Sum Assured shall be paid on death of Life Insured;
b) The Company shall continue to operate the Unit Account even after death of Life Insured until maturity date;
c) The Company will itself bear and pay all future ATP's as per fund allocation chosen by policyholder until maturity date;
d) The Fund Value shall be paid on maturity date to nominee/beneficiary;
The nominee/beneficiary shall have no right to seek payment of Fund Value in the event of death, either in part or in full, prior to the maturity date.

Entry Age Details

ELIGIBILITY CRITERIAS

Criteria	Eligibility
Life Insured Under the Policy	Parent
Age of Life Insured	21 years to 50 years
Age of Child	91 days to 15 years
Maximum Maturity Age (Life Insured)	60 years
Policy Term	Minimum: 10 years Maximum: 25 years Note: The policy term should be such that the minimum age of child at policy maturity is greater than or equal to 16 years and less than or equal to 25 years.
Premium Bonds (Allocation Charges are dependant on the premium band you choose)	Band 1: Rs. 20,000 - Rs. 49,999 Band 2: Rs. 50,000 - Rs.1,49,999 Band 3: Rs. 1,50,000 - Rs. 2,99,999 Band 4: Rs. 3,00,000 - Rs. 4,99,999 Band 5: Rs. 5,00,000 and above
Premium Term	Equal to the policy term
Sum Assured	Minimum: Annual Premium X Policy Term X 0.5 Maximum: Annual Premium X Policy Term

Premium Payment Term

Premium Term:Minimum: 10 yearsMaximum: 25 yearsPremium Payments: You can pay your premiums within 30 days after the due date to fit in with your cash flows. In case of Monthly mode, you need to pay your premiums within 15 days after the due date.

Top-up Premium

Top-up Premium: You have paid all your regular premiums to dateYour total top-up premiums at any time are not more than 25% of your total regular premiums paid till dateEach Top-up premium amount is at least Rs. 5,000Note: The Top-up premiums will not buy any insurance cover.

Sum Assured Details

Sum Assured:Minimum: Annual Premium X Policy Term X 0.5Maximum: Annual Premium X Policy Term

Investment Details of the Plan

Investment Details:
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 level of risk. The fund will invest primarily in fixed interest securities such as Government Securities, Corporate bonds etc.
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.

Asset Types	Secure (%)	Conservative (%)	Balanced (%)	Growth (%)	Growth Super (%)
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

Withdrawal

Partial Withdrawal Charge:Minimum surrender value required after partial withdrawal of units should beequal to one ATP.Minimum amount for which request for partial withdrawal of units will be entertained is Rs. 10,000Note: No partial withdrawals are allowed till the policy completes 5 policy years

Premium allocation Charges

PREMIUM ALLOCATION CHARGE

Premium Bands (in Rs.)	Premium Allocation charge as a percentage of Annual Target Premium
20,000-49,999	30%
50,000-1,49,999	29%
1,50,000-2,99,999	28%
3,00,000 - 4,99,999	27%
5,00,000 and above	26%

Second Policy Year and onwards: 2% of ATP
Top-up premium: 2%

Fund Management Charges

FUND MANAGEMENT CHARGE
In the long run what makes your investment returns look impressive is the way your funds are managed. Thankfully, Max New York Life's expertise in managing your funds does not cost you a fortune. 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 annual rate of fund management charge is as below. This charge may increase in future after clearance from IRDA but shall not be higher than 2% p.a.

Fund Name	Fund Management Charge
Growth Super Fund	1.35% per annum
Growth Fund	1.25% per annum
Balanced Fund	1.10% per annum
Conservative Fund	0.90% per annum
Secure Fund	0.90% per annum

Mortality Charges

OTHER CHARGES

Charges	Explanation
Policy Administration	Rs. 600 per annum charged monthly @ Rs. 50 per month on each Monthiversary.
Charge	This charge would be increased by 5% per annum compounded yearly.
Mortality Charge*	Mortality charge for providing risk cover to the life insured shall be recovered. On each Monthiversary, an appropriate number of Units, including a part thereof, in the Unit Account will be cancelled at their Unit Price to meet mortality for the life insurance.
	Please refer to the below mortality rates for some sample ages
	Age	30	35	40	50
	Annual Mortality charge (in Rs.) per 1,000 Sum at Risk
		1.521	1.803	2.669	6.817
Switching Charge	First six switches in a policy year will be free of charge. The processing charge for subsequent switches shall be Rs. 500 per switch. This charge would be subject to increase with approval from IRDA but will not exceed Rs. 1,000 per switch. Note: The minimum switch amount will be Rs. 5,000, which can be altered by the Company from time to time.
Redirection Charge	First three redirections in a policy year will be free of charge. Subsequently redirections in a policy year will attract a redirection charge of Rs. 1,000 per redirection. This charge would be subject to increase with approval from IRDA but will not exceed Rs. 2,000 per redirection. First 6 partial withdrawals are free of charge in each policy year. Any subsequent partial withdrawal in the same policy year will attract a charge of Rs. 1,000 per transaction involving partial withdrawal. This charge may increase with approval of IRDA but will not exceed Rs. 2,000 per transaction involving partial withdrawal.
Partial Withdrawal Charge	Minimum surrender value required after partial withdrawal of units should be equal to one ATP. Minimum amount for which request for partial withdrawal of units will be entertained is Rs. 10,000 Note: No partial withdrawals are allowed till the policy completes 5 policy years
Surrender Charge	If Policy is surrendered		Surrender Charge as a percentage of one Annual Target Premium
	in 1st Policy Year		100%
	in 2nd Policy Year		34%
	in 3rd Policy Year		32%
	in 4th Policy Year		30%
	in 5th Policy Year		28%
	in 6th Policy Year		26%
	in 7th Policy Year		24%
	in 8th Policy Year		20%
	in 9th Policy Year		15%
	In 10th Policy Year or later		Nil
"Service Tax and Education Cess is payable at the applicable rates on the mortality charges.

Policy Administration Charges

Policy Administration:Rs. 600 per annum charged monthly @ Rs. 50 per month on each Monthiversary.

Switching Charges

Switching Charge:First six switches in a policy year will be free of charge. The processing charge for subsequent switches shall be Rs. 500 per switch. This charge would be subject to increase with approval from IRDA but will not exceed Rs. 1,000 per switch.Note: The minimum switch amount will be Rs. 5,000, which can be altered by the Company from time to time.

Surrender Charges

OTHER CHARGES

Charges	Explanation
Policy Administration	Rs. 600 per annum charged monthly @ Rs. 50 per month on each Monthiversary.
Charge	This charge would be increased by 5% per annum compounded yearly.
Mortality Charge*	Mortality charge for providing risk cover to the life insured shall be recovered. On each Monthiversary, an appropriate number of Units, including a part thereof, in the Unit Account will be cancelled at their Unit Price to meet mortality for the life insurance.
	Please refer to the below mortality rates for some sample ages
	Age	30	35	40	50
	Annual Mortality charge (in Rs.) per 1,000 Sum at Risk
		1.521	1.803	2.669	6.817
Switching Charge	First six switches in a policy year will be free of charge. The processing charge for subsequent switches shall be Rs. 500 per switch. This charge would be subject to increase with approval from IRDA but will not exceed Rs. 1,000 per switch. Note: The minimum switch amount will be Rs. 5,000, which can be altered by the Company from time to time.
Redirection Charge	First three redirections in a policy year will be free of charge. Subsequently redirections in a policy year will attract a redirection charge of Rs. 1,000 per redirection. This charge would be subject to increase with approval from IRDA but will not exceed Rs. 2,000 per redirection. First 6 partial withdrawals are free of charge in each policy year. Any subsequent partial withdrawal in the same policy year will attract a charge of Rs. 1,000 per transaction involving partial withdrawal. This charge may increase with approval of IRDA but will not exceed Rs. 2,000 per transaction involving partial withdrawal.
Partial Withdrawal Charge	Minimum surrender value required after partial withdrawal of units should be equal to one ATP. Minimum amount for which request for partial withdrawal of units will be entertained is Rs. 10,000 Note: No partial withdrawals are allowed till the policy completes 5 policy years
Surrender Charge	If Policy is surrendered		Surrender Charge as a percentage of one Annual Target Premium
	in 1st Policy Year		100%
	in 2nd Policy Year		34%
	in 3rd Policy Year		32%
	in 4th Policy Year		30%
	in 5th Policy Year		28%
	in 6th Policy Year		26%
	in 7th Policy Year		24%
	in 8th Policy Year		20%
	in 9th Policy Year		15%
	In 10th Policy Year or later		Nil
"Service Tax and Education Cess is payable at the applicable rates on the mortality charges.

Returns (as on 20-Jan-2026)

Period	Absolute (%)	Annualised (%)
1 Week	-0.9	0
1 Month	-1.5	-16.4
3 Months	-1.7	-6.5
6 Months	-0.8	-1.5
1 Year	4.2	4.2
2 Years	16.2	7.8
3 Years	31.8	9.6
5 Years	44.6	7.6

NAV Chart

Historic Graph:

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52-week High

₹79.1383

02-Jan-2026

52-week Low

₹73.1235

28-Feb-2025

Claim & Solvency Ratio

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

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Health insurance helps protect you from high medical costs. It provides access to medical care when you need it, helping to pay for doctor visits, hospital stays, surgeries, prescription medications, and other health-related services.

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A deductible is the amount of money you must pay out-of-pocket before your health insurance starts covering your medical expenses. For example, if you have a deductible of $1,000, you must pay $1,000 out-of-pocket before your insurance starts covering your medical bills.

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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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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.

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.

What is a Health Maintenance Organization (HMO)? +

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.

What is a Preferred Provider Organization (PPO)? +

A PPO is a health insurance plan that offers more flexibility in choosing healthcare providers and doesn’t require referrals to see specialists. You can see any doctor, but you’ll pay less if you use in-network providers.

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.

What does the term "pre-existing condition" mean? +

A pre-existing condition is a medical condition that you had before you got your health insurance. It could include things like diabetes, high blood pressure, or heart disease.

Can I cancel my health insurance at any time? +

Yes, you can cancel your health insurance plan at any time. However, if you cancel outside the open enrollment period, you may not be able to get another plan until the next enrollment period unless you qualify for a Special Enrollment Period.

Are prescription drugs covered by health insurance? +

Many health insurance plans cover prescription medications, but the coverage may vary. Plans typically have a formulary, or list of covered drugs, and different drugs may have different levels of coverage, depending on whether they are generic, brand-name, or specialty drugs.

What is preventive care? +

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What should I do if my health insurance claim is denied? +

If your claim is denied, you can appeal the decision. Review the denial letter for reasons, contact your insurer for assistance, and file a written request for a hearing. If you win the appeal, you may be able to get a refund or other compensation.

How can I choose the best health insurance plan for me? +

When selecting a plan, consider factors like: Your health care needs (e.g., frequent visits, prescriptions) The plan’s network of doctors and hospitals The cost of premiums, deductibles, copays, and out-of-pocket maximums Coverage for specialized care or treatments Compare the different plans and benefits to find one that meets your needs.

What happens if I don't have health insurance? +

If you don’t have health insurance, you can still access some health care services, such as emergency care, in-network doctors, and in-network hospitals. You may be eligible for Medicaid, which provides some health care services at no cost to you.

What is life insurance? +

Life insurance is a contract between you and an insurance company, where you pay regular premiums in exchange for a lump sum payment (death benefit) to your beneficiaries upon your death.

What are the different types of life insurance? +

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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.

Can I change my beneficiaries? +

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.

What is the contestability period? +

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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? +

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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.

How are life insurance premiums determined? +

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.

Can I borrow money from my life insurance policy? +

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.

What is auto insurance? +

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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? +

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How do I choose the right auto insurance policy? +

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What factors affect my auto insurance premium? +

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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.