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Axis Max Life Online Term Plan Plus
The online Term Plan Plus is an affordable life insurance that provides a secure financial future for your loved ones against the risks of death, disease and disability.
Features & Benefits
Key benefits of the Axis Max Life Online Term Plan Plus
Premiums till 60, benefits beyond
Pay your premiums till age 60 (when you retire) and enjoy the benefits through the coverage term.
Extra cover for added liabilities
Additional protection with additional liabilities.
Comprehensive coverage
Comprehensive protection against death, dismemberment and critical illness.
Quick and easy process
Hassle-free online application process.
Max Life Online Term Plan Steps to buy
Steps to buy Axis Max Life Online Term Plan plus
- 01
Step 1
Select the sum assured(Insurance cover amount) and the term(duration)
- 02
Step 2
Add Riders (Additional benefits available at an affordable premium)
- 03
Step 3
Pay the Premium (Via multiple online payment options including net-banking, credit/debit cards and digital wallets)
- 04
Step 4
Fill in the Proposal Form (with personal and family details)
- 05
Step 5
Complete your Medical Tests (telephonic or physical medical tests)
Choose your tenure
Loan for every category of customer
Bank reserves the right to reject any application / renewal without assigning reasons thereof. It shall be the sole right of the Bank to consider the proposal on case to case basis after taking into consideration, the credentials / credit worthiness of each of the customers.
The overdraft facility shall be renewed only after all the required documentation and lien marking formalities are complete.
The applicant will undertake to inform the Bank as and when there is a change in address or employment.
* The Terms & Conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank's discretion.
Terms & Conditions
The Bank shall provide acknowledgement for receipt of all loan applications indicating the time frame within which the application will be disposed of.
The Bank shall verify the loan application and if additional details / documents are required, these will be sought from the applicant.
For all categories of loans and irrespective of any threshold limits, the Bank will be expected to process the application without delay. In case the application is turned down, the Bank will convey in writing to the applicant the reasons for rejection within one month.
EDGE REWARD Points
The sanctioning authority will be expected to ensure proper assessment of the credit application as per the extant instructions and credit policy of the bank. The availability of adequate margin and security will not be a substitute for due diligence on the creditworthiness of the customer.
All the Terms & Conditions and other caveats will be duly communicated by an authorised official of the Bank to the customer in writing.
The acceptance of the customer will be obtained on the sanction letter with the customer's signature under the caption "I/WE ACCEPT ALL THE TERMS AND CONDITIONS WHICH HAVE BEEN READ AND UNDERSTOOD BY ME/US".
A copy of the loan agreement along with all the enclosures quoted in the loan agreement will be furnished to the customer at the time of issue of the sanction letter.
The sanction letter / loan agreement will clearly state that the credit facilities will be extended solely at the discretion of the Bank and that drawings under the following circumstances will be solely at the discretion of the Bank.
- Drawings beyond the drawing power / sanctioned limits
- Honouring of cheques issued for the purpose other than specifically stipulated in the sanction
- Drawings in an account once it is classified as NPA
- No drawings will be allowed in case of non-compliance of the terms and conditions by the borrower
- Meeting further requirements of the borrower on account of growth in business will be subject to proper review of the credit limits
Insurance Coverage
The disbursement will be done immediately on compliance of all the Terms & Conditions of the sanction by the borrower and the branches need not refer to the sanctioning authority for disbursement.
Any changes in the terms and conditions of the sanction such as interest and charges will be notified to the borrower before effecting the changes.
Any changes in interest rate and charges will be effected only prospectively after giving due notice to the borrower.
In case of an emergency, block your Debit Card instantly
The post disbursement supervision, such as submission of periodical reports and periodic inspection, will be stipulated at the time of issue of the sanction letter. The sanction letter would also mention whether the Bank or the borrower will bear the cost of inspection.
The Bank will issue notices to the borrowers in advance in case the Bank decides to recall the advance / accelerate the payment / accelerate the performance under the loan agreement. Or seek additional securities.
The Bank shall release all securities on receiving payment of loan. However, the Bank may decide to exercise the right to set off any legitimate right or lien for any other claim against borrower. In case the Bank decides to retain the security, the borrower will be notified about the remaining claims and the documents under which the Bank is entitled to retain the security till the relevant claim is paid / settled.
In case of an emergency, block your Debit Card instantly
The Bank will not interference in the affairs of the borrowers except where provided for in the Terms & Conditions of the loan sanction documents, such as periodic inspection, scrutiny of books of accounts, verification of stocks and book debts, and scrutiny of QIS statements.
In case any information not disclosed earlier by the borrower has come to the notice of the Bank, the Bank will have the right to elicit the necessary information from the borrower and initiate action to protect its interest.
While, the Bank may participate in credit-linked schemes framed for weaker sections of the society, the Bank shall not discriminate on grounds of sex, caste and religion in the matter of lending.
In the matter of recovery of loans, the Bank shall not resort to undue harassment such as persistently bothering the borrowers at odd hours and use of muscle power.
In the case of receipt of request for transfer of borrowal account, either from the borrower or from other banks / FIs which propose to take over the loan, the Banks' consent or objection, if any, shall be conveyed within 21 days from the date of receipt of request.
In case of an emergency, block your Debit Card instantly
Though the sanction of the loans will be at the sole discretion of the Bank, borrowers will have an opportunity to appeal against the decision of the Bank's functionaries. Any such grievance received from the borrower will be heard and disposed of by the next higher authority. For this purpose the following review structure is available to the borrower.
Grievance against Decision of and Reviewing Authority:
Branch Head - Zonal Head
VP/AVP - Zonal Head
Zonal Head - President (Credit) for corporate advances. President (Merchant Banking) for capital-market related advances. Senior Vice President (Retail Banking) for retail advances.
Corporate Credit and Retail Loans (under Retail Banking) - Executive Director.
All Others - Chairman and CEO
Frequently Asked Questions
You should consider buying a term insurance along the following life stages;
- If you are single, your parents may currently or in future be dependent on you. It is essential to secure their lifestyle during retirement
- If you are married with no kids, your spouse may be completely or partially dependent on you financially. It is important to secure his/her lifestyle in your absence.
- If you are married and have kids – Your kids' education and marriage expenses are two important goals that you need to secure. Besides, you also need to maintain the current lifestyle for your partner, even in your absence.
From an eligibility perspective, a person aged 18 can buy a Term Plan. The maximum entry age may vary from one insurer to another. With Max Life, the maximum age to buy a Term Plan is 60.
Advantages of choosing Max Life Insurance
- Awarded Best Term Plan Company 2018-19 (CMO Asia BFSI Excellence Award, 2019).
- Assets Under Management of ₹62,798 Cr (Source : Public disclosure FY18-19).
- Trustworthy Claims Paid Percentage of 98.74% (Source : Max Life Public Disclosure FY18-19).
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