Axis Max Life Introduces STAR ULIP with Dual Benefits

Axis Max Life Insurance has launched STAR ULIP (Smart Term with Additional Returns), a unit-linked, non-participating life insurance plan. The policy combines life insurance coverage with market-linked investment options, allowing policyholders to customize their financial plans based on their risk appetite and long-term goals.

Coverage and Protection

The plan offers protection against accidental death and total permanent disability. Additionally, policyholders can opt for riders that provide extra coverage, including death from all causes, accidental death, and total or permanent disability due to accidents.

An important feature of the plan is its high sum assured multiple, which can go up to 215 times the base annualized premium to help provide financial security in unforeseen circumstances.

Plan Variants

STAR ULIP is available in two variants:

• Life Secure Variant: Includes a death benefit multiple ranging from 10 to 215 times the annualized premium. Upon maturity, the total fund value is paid out.
• 3D Life Secure Variant: Includes a lump sum death benefit along with a monthly income benefit, where 20% of the base annualized premium is paid for 10 years. If the policyholder faces death, critical illness, or dismemberment, outstanding premiums are funded up to three times. The total fund value is paid at maturity.

Investment and Flexibility

The policy allows investment in multiple market-linked funds, giving policyholders flexibility in managing their funds. Other features include emergency withdrawals and loyalty additions, which may provide returns up to three times the charges, as per the reports.

The STAR ULIP also includes the 3D Life Secure Variant, which provides coverage for critical illness and dismemberment. In such cases, future outstanding premiums are funded up to three times.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.