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Life Insurance

Max Life Guaranteed Income Plan

Get guaranteed benefits right from the outset and fulfil your family's dreams, in a world of uncertainty

Guaranteed Monthly Income

Start enjoying guaranteed  monthly Income Benefit for 10 years, immediately after the Policy Term (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 guaranteed Death Benefit

Flexibility to choose Policy Term

The plan offers flexibility to choose from two Policy Term options

Features and Benefits

Features Max Life Guaranteed Income Plan
Type of Plan Non-Participating Non-Linked Savings Insurance Plan
Entry Ages
(Age as on last birthday)
  • For 6 years Policy Term - 25 years to 60 years
  • For 12 years Policy Term - 25 years to 55 years
Maximum Maturity Age
(Age as on last birthday)
  • For 6 years Policy Term – 66 years
  • For 12 years Policy Term – 67 years
Policy Term This product has two Policy Term options – 6 years & 12 years
Premium Payment Term Same as the chosen Policy Term
Payout Period
  • Period of 10 year (120 months) after the completion of Policy Term.
  • For 6 years Policy Term – starting from 73rd Month (beginning of 7th year) to 192nd month (end of 16th year)
  • For 12 years Policy Term – starting from 145th Month (beginning of 13th year) to 264th month (end of 22nd year)
Premium Payment Mode Annual mode only
Minimum Annualised Premium#
  • For 6 years Policy Term – Rs. 75,000 per annum
  • For 12 years Policy Term – Rs. 20,000 per annum
Maximum Annualised Premium# No limit, subject to underwriting
Guaranteed Maturity Sum Assured (GMSA) Guaranteed Maturity Sum Assured (GMSA) is defined as the present value of Survival Benefits calculated at a discount rate of 5.7% p.a. The GMSA is always higher than the sum of the total Annualised Premiums payable over the Policy Term for all entry ages and is guaranteed
  • A policy can be surrendered once it has acquired Surrender Value. The policy acquires Surrender Value as shown below:
  • For 6 years Policy Term – After payment of 2 full years' Premiums
  • For 12 years Policy Term – After Payment of 3 full years’ Premiums

  • For more details, please refer to the detailed product brochure available at
Tax Benefit You may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. It is advisable to seek an independent tax advice.
Freelook Period
You have a period of fifteen (15) days from the date of receipt of the policy document, to review the terms and conditions of the policy, where if you disagree to any of those terms and conditions, you have the option to return the policy stating the reasons for your objection. You shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the Company on medical examination of the Life Insured and stamp duty charges.
Grace Period A Grace Period of thirty (30) days from the due date for payment of each Premium will be allowed. During the Grace Period the Company will accept the Premium without charges. The insurance coverage continues during the Grace Period but if the Life Insured dies during the Grace Period, the Company shall be entitled to deduct the unpaid Premium from the Benefits payable under the Policy.

#Annualised Premium excludes extra premium, rider premium and service tax or any other taxes, cesses or levies, if any.

Life Insurance Coverage Is Available In This Product. This Life Insurance Product Is Offered and Underwritten By Max Life Insurance Co. Ltd. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd.

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurgaon - 122002 (Haryana). IRDAI Registration No. – 104. For more details on the risk factors, Terms and Conditions, please read the sales brochure carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the subject matter of solicitation. For further details, call Toll free number 1800 200 4006

Axis Bank Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025. IRDAI Corporate Agent License No: CA 0069. The purchase of a Max Life Insurance product by Axis Bank's customer is purely on a voluntary basis. As Axis Bank is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.


IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums
  • IRDAI does not announce any bonus

Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

ARN: Max Life/Axis/Web Content/GIP/ Jan 2017




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