Axis Max Life’s New Plan With Guaranteed Income, Custom Payouts, And Built-In Flexibility: Know Key Details

Axis Max Life Insurance has launched a new non-linked, non-participating individual life insurance savings called the ‘Smart Value Income & Benefit Enhancer Plan’ on May 8, 2025.

The product is aimed at individuals who are looking for guaranteed income along with life cover and is designed with multiple options that will allow policyholders to shape the plan to fit their specific needs per financial goals.

This savings plan offers a combination of income certainty and protection wherein a customer can choose between different:

• Plan variants

• Payout Modes

• Optional Benefits

To put it simply, policyholders can pick how long they want to pay premiums, how long the policy should last, and how frequently they want to receive payouts. They can also choose the level of the death benefit, options include 5, 7, or 11 times the annual premium.

The Flexi Income Benefit feature will offer income from the first year of the policy wherein policyholders can either take the income as it comes or let it accumulate for bigger payouts later. There’s also an option to access future milestone benefits earlier if they need funds urgently.

The plan includes some built-in protections as well—such as a Senior Citizen Benefit and a Cover Continuance Benefit that helps the policy stay active without further payments in case of the policyholder’s death (provided this option is selected at the start).

The plan also has optional riders for policy buyers such as critical illness ad-ons, accidental death or disability coverage and waiver of premium.

There’s also an optional feature called ‘Policy Continuance Benefit (PCB)’, which ensures all future benefits under the policy remain intact in case of the life insured’s death, with no further premium payments. This option must be selected at inception.

Policyholders can also avail of loan facilities against the policy and have the flexibility to advance their ‘Future Milestone Benefits’ during the income payout phase to meet immediate financial needs.

Who should look for such plans?

Such plans are suitable for individuals looking for a structured income stream with built-in assurance over the long term. Policy buyers must carefully understand their financial goals before option of any savings or investment-linked plans keeping in mind their long-term security.