Index Fund Corner
Sponsored
| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
The plan offers a flexible coverage structure, enabling policyholders to receive up to 200% of the total premiums paid as a special exit value starting from the 30th policy year, with no additional premiums required.
In a move to address the specific needs of female policyholders, the plan includes a maternity cover benefit that protects against pregnancy complications and provides coverage for congenital anomalies in newborns for up to three years.
The plan also features a Lifeline Plus benefit, which allows female policyholders to increase their coverage by up to 50% of the base sum assured (or ₹50 lakh, whichever is lower) in the event of their spouse’s death.
Furthermore, the plan offers a 15% premium discount for female policyholders, with salaried women eligible for an additional 15% discount on the first-year premium, resulting in a potential total discount of up to 27.75%.
Prashant Tripathy, Managing Director and CEO of Axis Max Life, stated that although awareness of term insurance is on the rise, its penetration in India remains low, creating a significant protection gap.
He emphasised that the Axis Max Life Smart Term Plan Plus is designed to bridge this gap by offering an affordable and accessible solution for a wide range of customers, particularly younger individuals.
The plan offers several unique variants, including options like “Return of Premium,” “Early ROP Plus,” “Smart Cover,” and “Whole Life Cover,” each aimed at addressing specific customer needs. It also includes a rebalancing cover feature, which automatically adjusts the life cover and accidental death benefit as the policy progresses.
For families with young children, the plan provides 1.5X coverage for the first 15 years through the Smart Cover feature. Additionally, the Whole Life Cover ensures coverage up to the age of 100, providing long-term financial security.
The plan also offers an income protection cover, allowing policyholders to opt for monthly income payouts either as a level income or inflation-proof payout.
Salaried individuals can benefit from a 15% discount on their first-year premium, making it more affordable for a larger segment of the population.
According to Axis Max Life’s IPQ 6.0 Survey, only 31% of urban Indians have term insurance, highlighting the need for such solutions to fill the protection gap.
The Axis Max Life Smart Term Plan Plus aims to meet the growing demand for adaptable financial security, the company said.