Official Insurer Policy Wording, UIN: 104N127V02 · Fetched on 15/11/2026

Insurer Metrics: Official IRDAI Annual Report (3-yr weighted avg as of Mar 2026) source

✓ Verified official wording

Axis Max Life Smart Term Plan Plus

Axis Max Life · PRIVATE · term ·

99.3%

Claim settlement ratio (IRDAI)

Complaints per 10,000 claims

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Free Look Cancellation Period
The policyholder has 30 days to review the policy and request cancellation.
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Grace Period for Premium Payment
The grace period for monthly premium payments is limited to 15 days.
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Terminal Illness Benefit Limit
The accelerated Terminal Illness benefit is capped at 1 Crore.
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Waiting Period for Point of Sale Policies
Policies sourced through Point of Sale have a 90-day waiting period for non-accidental death.
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Suicide Exclusion Clause
Only premiums are refunded if suicide occurs within 12 months of commencement or revival.
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Cover Continuance Benefit
Premiums can be deferred for up to 12 months while maintaining full cover.
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Maternity Cover Waiting Period
Maternity cover has a mandatory waiting period of 10 months.
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Special Exit Value Exclusions
Special Exit Value is only applicable to the base policy premium.
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Insta Payment on Claim Intimation
A portion of the death benefit is paid within one working day of intimation.
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Survival Period for Maternity Benefit
Maternity benefits require a 30-day survival period.