Axis Max Life introduces ‘Smart RISE'
Axis Max Life Insurance Ltd. {formerly known as Max Life Insurance Company Ltd.} ("Axis Max Life"/ "Company"), has launched Axis Max Life Smart Retirement Income with Sustained Earnings Plan [Smart RISE] (UIN: 104N160V01), a retirement product that combines guaranteed annuity component with a benchmark-linked component tied to the NIFTY 50 Index, allowing customers to secure stable retirement income while leveraging growth potential.
The plan allows policyholder to customise their retirement timeline by selecting a deferment period, during which no annuity is payable. Upon the completion of this deferment phase, the annuitant begins receiving regular payouts. The payouts comprise the following components: guaranteed annuity and a variable annuity.
Vaibhav Kumar, Head - Products, Ecommerce and Enterprise COE said, “The introduction of a Variable Annuity product marks a major milestone for Axis Max Life as we continue to expand our comprehensive retirement portfolio. By launching an index-linked variable annuity option, we are positioned to address emerging customer needs and enhance our presence in the retirement space. This offering also addresses a modern retiree's evolving expectations for strong financial protection, flexibility, and a reliable pension, reinforcing our commitment to securing their long-term financial freedom.”
Smart RISE also embeds a critical legacy-planning benefit. In the event of the annuitant’s demise, the option provides a Return of Purchase Price to the designated nominees (subject to policy terms and conditions), ensuring long-term generational financial protection.
