The three essential benefits of term insurance include the following:

• Keeping Loved ones financially secure: Term insurance will keep your family financially covered in the event of a premature death of policyholder.
• Plan for Financial Milestones: It enables you to budget significant milestones such as the education of your children or other financial obligations.
• Income Replacement: A term plan is a reliable source of income in difficult periods like critical illness, accidents or after retirement.

As per policy contract, if in case you want to change the frequency of payment, you are requested to submit below mentioned requirements. Documents: .

• Policy holder's letter with sign and date / Policy Amendment
• Premium (if applicable). Kindly click on the link to make the payment.

You may provide us a policy amendment request form duly filled and signed by policyholder by visiting nearby Axis Max Life branch. You may also furnish request through your registered email id at service.helpdesk@axismaxlife.com

Nominee is the person who receives policy benefits (eg. sum assured) in case of policyholders' death.

To add/modify your nominee or percentage of nomination,  you will need some additional documents. Click Here to do the 'change nominee' transaction. 

You can change 5 nominees at a given point in time.

You can change the bonus option for an active or a premium paying policy only. New bonus option gets applicable from next policy anniversary date. To  change/view bonus option in your policy, Click Here

To change the ownership under your policy, you are requested to visit the nearby Axis Max Life branch with the documents below:

• Ownership change form 
• Self attested address proof, Identity proof,  PAN no./Form 60/61/49A of new owner
• Recent photograph of new owner
• Death certificate( in case of death)
• Recent photograph of new owner
• Premium (if policy is lapsed)
• Health declaration form of life insured (if policy is lapsed for more than 180 days) 
• Policy Pack

You can update your address anytime during the policy year. Click Here to view or change your address.. 

Note: If the total premium across all your active policies exceeds ₹10,000, you’ll need to provide a valid address proof to complete the update. 

Tax residency certificate (TRC) is a document issued by an authorized Governmental body of a country certifying that the person is a tax resident of the issuing country. TRC issuing authorities are normally the tax / revenue departments of a country. TRC has a validity period and should cover the date of policy pay out. There is no prescribed format, every country has its own format.

Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) are two important pieces of legislation designed to combat tax evasion. FATCA was passed by the United States in 2010 and requires foreign financial institutions to report information about U.S. taxpayers who have accounts in those institutions. This information is then used by the US Tax Authorities to ensure that US citizens are paying taxes on their income from overseas.

The CRS is a global standard for the automatic exchange of financial account information among tax authorities around the world, which has been endorsed by more than 80 countries worldwide. It allows participating countries to collect data from their banks and automatically share it with other countries’ tax administrations on an annual basis. This helps to prevent offshore tax evasion and makes it easier for governments to identify non-compliance with tax laws.

To update your Nationality status as NRI/PIO/OCI/Foreign National or FATCA/CRS details, please send your duly filled self-certification form by Clicking Here from your registered email ID along with mentioned documents in the form.

You can change your Date of Birth under the policy by visiting a Axis Max Life branch near you with these documents:

• DOB change form (for all policy numbers) 
• Self attested Date of Birth Proof
• Premium (wherever applicable due to change of DOB)
• Duly Signed Revised Illustration (Applicable for Life to be Insured)

Note: In case of multiple policies, we will still require illustration if the customer is Life to be Insured

NFO stands for Non Forfeiture Option. It essentially enables you to choose how you receive the  policy benefits in case of a lapsation due to non-payment of premiums.
To update NFO option in your policy, Click Here 

You may choose from the two NFO options available with Axis Max Life Insurance policies:
Extended Term Insurance: In this, the policy value (cash value net of indebtedness) will be utilised to buy Term Insurance for the full face amount. (Sum Assured remains same, tenor reduces)
Reduced Paid Up: The policy value will be utilised to purchase Paid-Up Insurance for the remaining term of the policy (Sum Assured reduces, tenor remains same).

Click Here to avail a loan on your active policy, that's equal to 90% of policy surrender value. The minimum amount you may avail is ₹10,000. You may also request this by visiting nearby Axis Max life Insurance branch or by furnishing your request online @  service.helpdesk@axismaxlife.com.

You will be required to submit following documents to avail this facility:

• Updated and completely filled loan application form (along with supported documents) 
• Self attested ID proof
• Over the Counter (Axis Max Life branches/Axis Bank /Yes Bank),

Note: Policy loan is not available for Term Products, ULIP Products, Health Products and Cancer Plans

Additional terms and conditions applicable to loan available under eligible life insurance plans (“Policy”)

• The policyholder will have the flexibility to opt for loan against the Policy once the Policy has acquired surrender value (if any).
• The extent of loan allowed shall be as specified below:

• The rate of interest payable on the loan may be revised as per the applicable provisions of the loan clause under the Policy.

• The Policy shall be assigned to Axis Max Life Insurance Limited (“Company”) on grant of the loan. The Policy shall be re-assigned in favour of the policyholder once the outstanding loan amount along with interest payable (if any), is fully re-paid.
• Initially, the loan will be granted for a maximum period of 10 years, extendable for further period of 10 years at the written request of the policyholder. In case no request is received, the Company will be entitled to recover or adjust the outstanding loan amount (including interest, if any) against the policy benefits.
• Notwithstanding the foregoing, the Company shall have the right to recover the outstanding loan amount (including interest, if any), by providing a three (3) months advance notice to the policyholder at any point of time.
• The policyholder shall make the repayment of outstanding loan (including interest, if any) at earliest to avail full benefit of the Policy and to avoid accumulation of interest on the outstanding loan amount.
• Subject to the terms of the Policy, in case the outstanding loan (including interest, if any) exceeds the surrender value, the Policy shall terminate without any benefits.
• The above terms and conditions are subject to change from time to time. For more information, please connect with your authorized representative or write to us at  service.helpdesk@axismaxlife.com.

A claim can be intimated by providing written information to us through:

• Your Bank
• Nearest Axis Max Life Insurance company office
• Email at claims.support@axismaxlife.com,
• By sending written information at:

Your policy can be revived within prescribed period mentioned in your policy contract. To revive your policy just follow these simple steps

1) Fill the health declaration form

2) Furnish the evidence of insurability as per prescribed guidelines

3) Pay all overdue premiums along with unpaid charges (if any)

You can conduct the process by  Clicking Here  or by visiting a nearby Axis Max life branch or by sending an email to  service.helpdesk@axismaxlife.com

Yes, you may add or delete riders subject to prevailing underwriting rules. To add a rider, submit a duly filled policy amendment request form signed by the policyholder, to our nearest branch. You may also furnish request through your registered Email ID at service.helpdesk@axismaxlife.com

You can change your Gender under the policy by visiting a Axis Max Life branch near you with these documents:

• Policy holder's letter with sign and date.
• Self attested ID Proof in which DOB should match with our records.
• Premium (wherever applicable due to change of Gender)
• Duly Signed Revised Illustration (Applicable for Life to be Insured)

We strongly suggest that you select one of the Auto Debit options available, to ensure that your premium payment process is quick and hassle-free. Click Here to know more about the options. At your convenience, you can pay premiums in a variety of ways as follows:

• Online
• Auto-debit (NACH/Online SI on Credit Card/Direct debit),
• Over the Counter (Axis Max Life branches/Axis Bank /Yes Bank),

To receive policy proceeds from your non pension policy, submit the documents listed below to the nearest Axis Max Life office.

Cancelled Cheque with pre-printed name/copy of bank passbook and duly filled NEFT form. To update  your NEFT details, Click Here.

Premium will be debited Only after Auto debit is successfully validated by customers’ bank and the response is received by Axis Max Life. Furthermore, the debit will happen on your premium draw date.

You can change your Name under the policy by visiting a Axis Max Life branch near you with these documents:

• POS amendment form 
• Name Change affidavit (as per state value) attested by first class magistrate
• Notarized affidavit as applicable stamp paper per state value along with  valid name change proof (on which customer's DOB should match with our records) DOB Proof should be in DD-MM_YY order
• Policy Amendment form along with Passport with DOB matching with Axis Max life policy records 

It is prudent to continue your policy for the entire policy term. However, if you still wish to surrender your policy, you can do so by submitting the documents below:
a. Surrender form 
b. Original policy pack
c. Copy of ID proof
d. In case of NEFT, a cancelled cheque with pre-printed name/copy of bank passbook with banker's attestation/banker's attestation on account details in surrender request. You may submit the surrender request with the above documents at nearby Axis Max Life branch. Alternately, you may Click Here to submit your request online.

For Online/NRI/PIO/Foreign National customers, their request can be considered through registered Email ID at nri.helpdesk@axismaxlife.com

If customer nationality is other than Indian, then he/she needs to submit FATCA details. The mandatory requirements listed below to be submitted by Policy Holder under FATCA are :-

• Self Certification Form
• Overseas Address Proof
• Foreign Tax Identification Nunber. (If FTIN is unavailable, then a self written declaration stating that my country does not issue the FTIN number is required from the customer)
• Country of Residence Proof (If more than one country of tax residence, please provide Tax Identification No/Functional Equivalent : on all countries of tax residence)
• Photo ID
• PAN (Optional)

In Budget 2023, the Government introduced a new penalty section 271FAA wherein any inaccuracy or non-reporting (Like FTIN, Foreign address, and place of birth) by the customer will attract a penalty of Rs 5,000/- per policy.

Yes, premiums can be paid via any option during the pendency of the mandate. Click here to view Premium payment options.

We recommend that you continue your Axis Max Life policy to get life cover and other policy benefits.

30 days from the date of receipt of policy document for policies purchased online or through offline channels (Agent Advisor, Bank, Broker, and others)

Please visit your nearest Axis Max Life Insurance branch to submit the request with the following:

• A list of branches is available at https://www.axismaxife.com/contact-us

  
  

  If you are an NRI customer, a senior citizen (age 60 years and above), or there is no Axis Max Life Insurance branch located near you, click here to log in to your Axis Max Life account and submit your request for policy cancellation within free-look period.

  
  

  Please note that requests submitted at the branch are processed faster

No extra amount is charged for this facility. This facility is available to all new policies as well as existing policies including ULIP policies

The minimum loan repayment amount is Rs. 1000/-, which can be done either fully or partially.

Premium can be paid anytime within the same financial year - preferably 30 days before the due date or within the grace period.

You can download the premium acknowledgment immediately after making a premium payment. It will be sent to your registered email id. However, the premium receipt will be issued subject to payment realization.

Assignment is the transfer of interest under the policy either absolutely or conditionally by the Assignor (policyholder) to the Assignee. A policyholder may make a transfer or assignment of a policy at any time, by way of endorsement on the policy itself or by a separate instrument in writing. After an assignment of a policy is made, all nominations made in relation to such policy before such assignment shall stand cancelled.

• Assignment form duly signed by assignor and assignee
• Self attested address proof, Identity proof,  PAN no./Form 60/61/49a of assignee
• Recent photograph of assignee
• Premium (if applicable)

OPPB is a type of rider through which the insurance coverage can be enhanced from time to time by paying a one-time premium. This option can be added anytime in a Whole Life Participating Plan, subject to underwriting guidelines. The OPPB rider option gets lapsed in case the same is not exercised once in two years.

ENACH/NACH is an electronic & automated mode of money transfer that debits your due premium directly from your bank account so you never miss your due premium date. 

You can change the ENACH/NACH debit date by giving a written request at your nearest Axis Max Life Insurance branch, 15 days before your initial debit date to avoid double debit from your account. Available bill draw dates in a month are 1, 4,8, 12, 16, 20, 23, and 27.

For all the policies where payment is made on a monthly basis, the draw date should fall within 15 days from the due date of the policy.

Yes, the receipt is valid

CCSI is an easy self pay option with one time registration to take care of the future payments automatically. You can deactivate or remove the CCSI/ ECS with a written request duly signed by yourself (policy holder) and submitting the same at  nearby Axis Max Life Branch.

Note: NRI/PIO/Foreign National related customers have to send the withdrawal request from their registered email id to service.helpdesk@axismaxlife.com

Click Here to update your contact details

Premium status gets updated real time normally. You can wait for 24-48 hrs in case of delay and then recheck the status.

Click Here to update your Pan details

You can increase or decrease your policy term by submitting the below documents:

• A duly signed request letter from policyholder
• Dully signed illustration from policy owner and agent along with the new details. 
• Premium (if applicable)
• Medicals (if applicable)

For online policies:  Submit the above documents to  service.helpdesk@axismaxlife.com  from your registered email ID

For offline policies:  Visit the nearest Axis Max Life Insurance branch
only during the freelook period. 

Important:  The freelook period for policies purchased online or through offline channels is 30 days from the day policy pack is delivered to you.

If the amount has been deducted from your account and has not been adjusted in your policy for more than 2 days, kindly contact us by Clicking Here at our customer service helpline.

You can update NEFT details online. Click here to update.

OR

Please print and fill out the NEFT form  and submit it along with a KYC proof as well as a cancelled cheque (with your name and account details pre-printed) at any Axis Max Life branch or by email at service.helpdesk@axismaxlife.com from your registered email ID.

*If the premium has been paid from multiple NRE/NRI accounts, then please submit proof of payment of bank certificate for all accounts.

Bonus declared by the Company will be used to buy Paid Up Additions (PUA) which will have the effect of increasing the insurance cover in the same policy.
PUA withdrawal amount can be adjusted as due premium. Kindly Click Here to perform the PUA surrender transaction.

For all Unit Linked Policies, customer has to choose the fund in which he would like to invest and the allocation of units is done accordingly. In case, the customers feels that the other fund is having good growth, he can switch existing funds to any new fund applicable on that plan. Switching of Funds means all the previous money paid by the customer in the policy is transferred to the other fund available in the plan as per the request.

Kindly Click Here to place switch fund request for your policy:

Alternately, you may also visit nearby Axis Max Life branch to place your request.

If you chose for redirection of funds, your future premium will be redirected to new funds chosen by you. 

Please visit nearby Axis Max Life branch to place redirection request.

Yes, for a policy denominated in Indian Rupees, the regular premium paid to keep the policy in force can be paid in foreign currency. The premium should be paid by means of approved and legitimate channel and as per business guidelines & existing RBI/FEMA policies at the time of payment.

Click Here for premium payment options

The claims/maturity proceeds/surrender value of a Life Insurance policy issued to Non-resident where the premium was paid in Indian Rupees shall be settled only in Indian Rupees. Payments in foreign currency/ NRE account will be permitted only in proportion to the amount of premium paid in foreign currency/ through NRE account. NRIs or foreign nationals can repatriate claims, maturity proceeds or surrender value of policy outside India, however, this would depend on the source of fund/account from which the premium has been remitted/paid and the manner in which the claims etc. are to be repatriated. Free repatriation is directly linked to the type of fund/source used at the time of investment and depends on existing RBI guidelines at the time of repatriation.

Life Insurance policy is a contract between an individual (policyholder) and an insurance company (insurer). As per the contract, the policyholder pays a certain sum of money as a premium to the insurance company. In return, the insurer promises to pay a specific sum of money (sum assured) to help cover all financial expenses.

You need to understand that life insurance can offer many more benefits than just a large sum to your family at your untimely demise. The following are some significant benefits of buying life Insurance:

• Death Benefit
• Investment benefits
• Tax exemptions
• Protection from critical illnesses
• Create wealth to fulfil your life goals

Buying life insurance from Axis Max Life is quick and hassle-free. Here are a few hallmarks of our life insurance plans:

• Buy as you like: Multiple channels for a seamless buying experience

• It just takes 15 seconds: Calculate your premium in just 15 seconds

• Paperless process: No bulky paperwork while buying or renewing a policy

• Pay as you please: Multiple premium payment channels, including net banking, digital wallet, credit cards, and debit cards

• Secure future: Dedicated claim settlement officer to make the claim process effortless

The next crucial step is to choose the right insurance company based on its customer assistance, plan benefits, and claim settlement ratio. Here are a few terms you need to understand first:

1. What is their Claim Settlement Ratio (CSR)?

Claim settlement is the ratio between the number of claims successfully disbursed by an insurance company and the number of claims they have received in a financial year.

For example, a claims settlement ratio of 98% means that the insurance company has settled 98 out of 100 death claims filed in that particular year. Therefore, higher the CSR, better are the chances of your death claim getting settled.

Also, you need to compare the year-on-year CSR for the insurance company to check if they have been consistent in paying the life insurance claims.

2. What is their Solvency Ratio?

Solvency Ratio refers to the ability of an insurance company to have a sufficient cash flow to take care of its debts.

Thus, you can expect hassle-free claim settlement from your insurance plan if the insurance company depicts a strong ability to meet their short-term and long-term liabilities.

3. How much will the plan cost you?

Each life insurance plan is priced differently. Given the fact that you have to pay the premiums at regular intervals to keep your life plan active, you need to choose an insurance plan that is cost effective. In case the premium is too high and you cannot afford to pay the premium, you may risk losing your life cover.

You should buy a life insurance policy for –

• Sum assured (nominee will receive after the death of the insured)
• Critical illness benefit rider (available at an additional cost), which will protect you against serious health issues, such as heart conditions, cancer, and brain tumours.
• Avail investment benefits with unit-linked insurance plans
• Deduction for the life insurance premiums u/s 80C of the Income Tax Act, 1961

Before buying a life insurance policy, you can use an online life insurance calculator to get an estimate of the highest possible life cover that is available under the plan and the premium amount payable.

When it comes to buying life insurance policy, the “one size fits all” does not work. Each has a different perception towards life, and therefore, seeks a plan that is personalized according to his or her needs.

At Axis Max Life Insurance; therefore, you can find flexible life insurance plans that can be customized to match your age and unique set of life goals and protection needs. Let us help you with a small guide to assessing your insurance need as per your life stage:

Life insurance plans allow you to pay the premium either in one go (single payment) or through regular payments (annual, semi-annual, quarterly, or monthly).

Regular premium payment options allow you to pay in the following premium payment modes:

Annual: You pay the annualised premium (the total of the Annual premium and any extra premium plus taxes) once a year.

Semi-annual: You pay half of the annualised premium once every six months, throughout the premium payment term.

Quarterly: You pay one-third of the annualised premium once every four months, throughout the premium payment term.

Monthly: There are twelve equal parts of the annualised premium, which are payable every month.

Policyholders can change the premium payment mode during the premium payment term.

Basic Life Cover: Your dependents are entitled to a lump sum payout as per the term insurance payout.

Fixed Income: Your nominee receives the policy benefit in the form of a fixed level monthly income for up to a specific period, as selected at the time of the policy purchase.

Increasing Income: Your dependents receive the policy benefit in the form of an increasing monthly income for up to a specific period, as selected at the time of the policy purchase.

Basic Life Cover + Monthly Income: Your dependents receive the payout in the form of monthly income for ten years in addition to the lump sum payout.

Basic Life Cover + Increasing Monthly Income: Your dependents receive the term plan payout in the form of an increasing monthly income, in addition to lumpsum amount.

Increasing Cover: The sum assured increases at a fixed rate every policy anniversary. At the time of your demise, your family would receive the Sum Assured effective as on the last policy anniversary, as a lump sum payout.

Reducing Cover: The sum assured decreases by a fixed rate on the completion of every 5th policy year. Upon your demise within the policy tenure, your nominee would receive the Sum Assured effective on the last policy anniversary, as a lump sum payout.

Simplify the management of all your insurance policies by opening an Electronic Insurance Account

Manage your insurance policies paperlessly by switching to e-Insurance Account (eIA). It allows you to manage all your policies through a single online window, free of cost

Top feature

• View and manage all your insurance policies online
• No risk or damage of physical policy
• Submit KYC documents only once for all your insurance policies
• Single view of policies across life insurance companies

How to open an eIA?

To open your eIA, follow these steps:

• Step 1: Pick an insurance repository Account Opening Form from one of these links and fill it up:

1. CIRL
2. KARVY
3. CAMS

• Step 2: Now, download the policy conversion form and fill in the details
• Step 3: Along with your KYC documents, submit these forms to your agent or at the nearest Axis Max Life branch office

For more information, on

• Insurance repositories you may check the following links:
  • Central Insurance Repository Limited
  • Karvy Insurance Repository Limited
  • CAMS Repository Services Limited