Axis bank max life guaranteed income plan leaflet
Posted by bankifsccode on August 6th, 2019
WHAT THIS PLAN OFFERS YOU :
Guaranteed monthly income immediately after Policy Term Get guaranteed monthly income for 10 years (Payout Period) immediately after Policy Term (starting next year after all premiums have been paid) along with one - time guaranteed Terminal Benefit at the end of the Payout Period.
Guaranteed income that doubles after 5 years:
Guaranteed monthly income offered in first 5 years of the Payout Period is doubled in the remaining 5 years.
Guaranteed protection with choice Of Payout Options on death:
The plan offers you life cover for the entire Policy Term by providing guaranteed Death Benefit. On death during the Axis Bank Policy Term, the nominee will have an option to select either • Lump sum Death Benefit or • Income for 10 years post death.
Flexibility to get monthly income as lump sum:
The Bank Plan offers you the Commutation Option wherein you can receive the present value of the Survival or Death Benefit respectively instead of the monthly payouts. This option can be availed anytime once the monthly incomes have been started.
CALCULATE THE MONTHLY INCOME:
Above benefits would be tax exempted on fulfilling conditions mentioned under Section 10 (10 D) of Income Tax Act, 1961. Above exemptions are as per our understanding of laws as per prevailing provisions of Income Tax Act, 1961. Policyholders are advised to consult tax expert for better clarification / interpretation. Please note that all the tax benefits are subjected to tax laws at the time of payment of premium or receipt of policy benefits by you. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.
MAX 411011b ..4 INSURANCE
For More Info :- Bank IFSC CodeAlso See: Monthly Income, Policy Term, Guaranteed Monthly, Plan Offers, Monthly, Income, Guaranteed