Axis Max Life’s Smart Term Plan Plus: Up to ₹2 Crore Life Cover for Students Starting at Age 18

Axis Max Life Insurance has introduced its Smart Term Plan Plus for students, allowing individuals from the age of 18 to avail life cover of up to ₹2 crore.  

This plan enables early financial protection for students through simplified digital processes and includes optional health-related riders. 

Term Plan Access for Students from Age 18 

Axis Max Life Insurance has widened its product scope by opening its Smart Term Plan Plus to college-going students above the age of 18.  

This initiative seeks to lower the typical age for life insurance entry from around 35 to 18, providing non-earning individuals with access to life cover up to ₹2 crore. 

The product comes with innovative underwriting protocols that do not demand traditional income proof, which was a major barrier for students in accessing life protection.  

By leveraging alternative methods such as parental income documents and video-based medical checks, the plan ensures simplified onboarding. 

Inclusion of Optional Riders and Digital-First Onboarding 

This plan includes optional riders like Accidental Death & Dismemberment (UIN: 104B027V05) and Critical Illness and Disability (UIN: 104B033V02). These riders provide added medical examinations and access to mental health resources.  

The plan’s digital-first approach ensures streamlined enrolment using online platforms, promoting early-stage financial awareness. 

Read More: Life Insurance Penetration Falls for Third Year; Overall Insurance Coverage Stays Flat in FY25! 

Objective Behind the Initiative 

Axis Max Life's strategy aligns with its broader mission titled “Insurance for All by 2047.” By including students in its protection bracket, it is addressing an existing gap in the market where young adults often stayed uninsured due to their non-earning status.  

The company's aim is to cultivate financial discipline and early planning among younger demographics. 

Conclusion 

Axis Max Life’s Smart Term Plan Plus opens a new avenue for students to gain life insurance coverage from the age of 18. With a cover of up to ₹2 crore, optional riders, and a digital onboarding process, the plan offers an accessible approach to financial protection for the student population. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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.