Axis GIP Leaflet

WHAT THIS PLAN OFFERS YOU

CHOOSE YOUR PLAN IN TWO SIMPLE STEPS

LIFE INSURANCE COVERAGE IS AVAILABLE IN THIS PRODUCT. THIS LIFE INSURANCE PRODUCT IS OFFERED ANDUNDERWRITTEN BY MAX LIFE INSURANCE COMPANY LIMITED.U I N : 1 0 4 N 0 8 5 V 0 1

Non - par t ic ipat ing Non - L inkedSav ings Insurance P lan

Job No : 4908/Max GIP Axis leaflet/ size 210x297 mm/ Date: 16th October/2014 Cover Page

An Income Plan that ensures 100% Guaranteed Benefits

Guaranteed Income For all your planned as well as

unplanned expenses.

CHOOSE THE MONTHLYINCOME REQUIRED

1 2

ARRIVE AT THE ANNUALISED PREMIUM PAYABLE USING PREMIUM CALCULATOR

CHOOSE THE ANNUALISED PREMIUM AMOUNT

TO BE INVESTED

1 2

CALCULATE THE MONTHLY INCOME PAYABLE USING INCOME CALCULATOR

OR

Guaranteed Income That Doubles After 5 Years Guaranteed monthly income offered in first five years of the Payout Period gets doubled in the remaining five years. Additionally, there is also a guaranteed tax free* Terminal Benefit paid at the end of the Payout Period

Guaranteed Tax Free* Monthly IncomeStart enjoying guaranteed tax free* monthly Income Benefit for 10 years, immediately after the Policy Term (Payout Period)

Guaranteed Protection With Choice Of Payout Options On DeathThe plan offers you guaranteed Death Benefit. On Death during the Policy Term, the nominee can choose to select either a) Lump sum Death Benefit or b) Income for 10 years post death

Flexibility To Choose Policy TermThe plan offers flexibility to choose from two Policy Terms: 6 years or 12 years, depending on your financial goals

DISTRIBUTED BY

*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.The monthly Income Benefit & Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

Type of Plan Non - Participating Non Linked Savings Insurance Plan

Entry Ages(Age as on last birthday)

Maximum Maturity Age(Age as on last birthday)

Policy Term

Premium Payment Terms Same as the chosen Policy Term

Premium Payment Mode

Minimum Annualised Premium#

Annual mode only

For 6 years Policy Term ` 75,000 per annum For 12 years Policy Term ` 20,000 per annum

Maximum Annualised Premium#

No limit, subject to underwriting

Survival Benefit

Death Benefit*

PLAN FEATURES

Job No : 4908/Max GIP Axis leaflet/ size 210x297 mm/ Date: 16th October/2014

Features Max Life Guaranteed Income Plan

Inside1

For 6 years Policy Term 25 years to 60 yearsFor 12 years Policy Term 25 years to 55 years

For 6 years Policy Term 66 years For 12 years Policy Term 67 years

This product has two Policy Term options 6 years & 12 years

Payout Period Period of 10 years (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)

Guaranteed MaturitySum Assured (GMSA)

Guaranteed Maturity Sum Assured (GMSA) is defined as the present value of Survival Benefits calculated at adiscount rate of 5.7% p.a. The GMSA is always higher than the sum of the total Annualised Premiums payable overthe Policy Term for all entry ages and is guaranteed

Survival Benefit: Income Benefit + Terminal Benefit

Income Benefit: Monthly income payable during the 10 - year Payout Period post completion of the Policy Term(please refer to Income Benefit applicable for your age on page 5)

Terminal Benefit: One time lump sum payout payable at the end of Payout Period For 6 years Policy Term - 125% of one Annualised Premium For 12 years Policy Term - 200% of one Annualised Premium

The Policyholder also has the option to avail the Survival Benefit in lump sum at the end of the Policy Term, beforethe commencement of the Payout Period. On exercising this option, the GMSA is paid to the Policyholder. The Policyshall terminate on the payment of the GMSA

On Death of the Life Insured during the Policy Term, lump sum Death Benefit equal to Guaranteed Death SumAssured (GDSA) will be payable to nominee. GDSA is: For 6 years Policy Term: 12.75 times of one Annualised Premium For 12 years Policy Term: 18.50 times of one Annualised Premium

While the Death Benefit is payable as a lump sum benefit to the nominee, the nominee also has the option to availthe Death Benefit in monthly installments for a period of 10 years post the Date of Death. On exercising the option,the Death Benefit paid as monthly income is as follows:For 6 years Policy Term: (165%/ 12) times one Annualised PremiumFor 12 years Policy Term: (240%/ 12) times one Annualised Premiumfor a period of 10 years post death

CommutationOption

The Commutation Option can be exercised by the Policyholder anytime during the Survival Benefit payout OR by thenominee on Death of the Life Insured to receive the present value of the outstanding Survival and Death Benefit respectively,as lump sum. The Policy shall terminate on payment of Commuted Value. The Commuted Value is derived by using adiscount rate of 5.7% per annum from the date of receipt of request of commutation and is paid out as a lump sum amountto Policyholder or nominee on exercising this option. The discount rate can be changed by the Company subject to IRDAs

approval basis changing investment returns


Surrender 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' PremiumsFor 12 years Policy Term After payment of 3 full years' PremiumsFor more details, please refer to the detailed product brochure available at www.maxlifeinsurance.com

Annualised Premium is exclusive of extra Premium, Rider Premium and Service Tax & Education Cess

Kindly note that the above illustrations are only examples and do not in any way create any rights and / or obligations. At any point of time during the Payout Period or during the payout of Death Benefits, the Policyholder or nominee has an option of Commutation to receive the present value of the outstanding benefits.#GMSA can be opted after the end of the Policy Term as lump sum benefit in lieu of Income Benefit and Terminal Benefit.

Lets look at some examples. Below mentioned Premium amounts and benefits are assumed for a standard male life (without premiumloading, Rider Premium, Service Tax or any other levies). This is assuming all the due Premiums have been paid as and when due.

ILLUSTRATION

Age of the Life Insured

Premium Payment Term and Policy Term (years) - A

Annualised Premium - B

Total Annualised Premiums paid - C

Guaranteed Maturity Sum Assured - D#

Payout Period

Total of Income Benefit in the first 5 years - E

Total of Income Benefit in the last 5 years - F

Terminal Benefit - G

Total Survival Benefit - E+F+G

Example 1

40

12

`75,000

`9,00,000

`11,13,892

Beginning of 13th year till

end of 22nd year

`4,66,650

`9,33,300

`1,50,000

`15,49,950

Example 2

50

12

`1,00,000

`12,00,000

`14,11,828


end of 22nd year

`5,88,900

`11,77,750

`2,00,000

`19,66,650

Example 3

40

6

`75,000

`4,50,000

`4,92,857


end of 16th year

`1,99,350

`3,98,663

`93,750

`6,91,763

Example 4

50

6

`1,00,000

`6,00,000

`6,38,460


end of 16th year

`2,57,300

`5,14,600

`1,25,000

`8,96,900

Tax Benefit You may be entitled to certain applicable tax benefits on your Premiums and Policy benefits. Please note that all thetax benefits are subject to tax laws prevailing at the time of payment of Premium or receipt of benefits by you. It isadvisable to seek an independent tax advice

Freelook Period

Grace Period

#Annualised Premium excludes extra Premium, Rider Premium and Service Tax or any other taxes, cesses or levies, if any.*Death Benefit will be higher of a) 10 times the Annualised Premium; b) 105% of Total Premiums Paid; c) Guaranteed Maturity Sum Assured (GMSA) or d) Guaranteed

Death Sum Assured (GDSA).

Note: In case of Death of the Life Insured during the Payout period, the nominee will have the option to either continue receiving the Income Benefit and one - time Terminal

Benefit or opt for the Commuted Value of the same.

You have a period of 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 medicalexamination of the Life Insured and stamp duty charges

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 interest. 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


Following are the two illustrative scenarios under the plan: Scenario 1 (Survival Benefit): Mr. Gupta pays all the due Policy Premiums and survives till end of the Policy Term. In this case, he will receivethe following benefits:

LET US UNDERSTAND THE PRODUCT WITH SOME EXAMPLES

CASE STUDY 1: Mr. Gupta is a 45 - year old private sector employee. He wants a guaranteed stream of income of ` 50,000 (approx) annually immediately after he stops paying Premiums and would want to further increase the income by another ` 50,000 (approx). Mr. Gupta decides to buy Max Life Guaranteed Income Plan with a Policy Term of 6 years and Annualised Premium of ` 1,00,000. He also decides to make Mrs. Gupta his nominee under the plan.

Scenario 2 (Death Benefit): Mr. Gupta dies after paying 2 Premiums. In this case his nominee (Mrs. Gupta) will have option to choose between two Death Benefit options available

Option 1 - Lump sum Death Benefit: In case Mrs. Gupta chooses lump sum Death Benefit, she will get a one time payment of `12,75,000/- (calculated as 12.75 times of one Annualised Premium)

Option 2 - Income Benefit: In case Mrs. Gupta chooses Income Death Benefit option, she will get the monthly income calculated as (165%/12) of one Annualised Premium payable for 10 years, as shown below:

Instead of Monthly Income, Mr. Gupta also has the option to avail lump sum amount at the end of the Policy Term which will be GMSA

Payout Period

7

1 2 3 4 5 6

8 9 10 11 12 13 14 15 16 End of

16th Year

Policy Term & Premium Payment Term

Guaranteed Income of`52,530 per year for 5 years

payable monthly (`4,378 monthlyincome)

Guaranteed Income of`1,05,070 per year for next

5 years payable monthly(`8,756 monthly income)

Beginning of year

Total Annualised Premium paid - `100,000 per year for 6 years

= `6,00,000

Terminal Benefit of `1,25,000

Guaranteed Income of `1,65,000 per year for 10 years payable monthly (`13,750 monthly income)

Guaranteed Income of `1,65,000 per year for 10 years payable monthly (`13,750 monthly income)

1 2

3 4 5 6 7 8 9 10 11 12

Death Benefit Option 2 - Income Benefit

Beginning of year

Mr. Gupta dies unfortunately after paying 2 Premiums (Total `2,00,000)


How to calculate Monthly Income basis Annualised Premium: Multiply the benefit percentages below with one Annualised Premium to arrive at theIncome Benefit (annual) in the first 5 years and the last 5 years of the Payout Period respectively, for your age and chosen Policy Term variant.

For example: Mr. Gupta, whose age is 35 years, wishes to save `1 Lac* for 6 years. He will get a guaranteed income of 53.46% of `1 Lac = `53,460annually (payable monthly) for the first five years of the Payout Period, and 106.92% of `1 Lac = `1,06,920 annually (payable monthly) for the lastfive years of the Payout Period.Please note that the annual Income Benefit shown below will be payable in 12 monthly installments

SURVIVAL BENEFIT - INCOME CALCULATOR

25 53.65% 107.31% 25 126.67% 253.34% 26 53.65% 107.31% 26 126.67% 253.34%

27 53.65% 107.31% 27 126.67% 253.34% 28 53.65% 107.31% 28 126.67% 253.34%

29 53.65% 107.31% 29 126.49% 252.97%

30 53.65% 107.31% 30 126.49% 252.97%

31 53.65% 107.31% 31 126.49% 252.97%

32 53.56% 107.12% 32 126.22% 252.44%

33 53.56% 107.12% 33 126.22% 252.44%

34 53.56% 107.12% 34 125.95% 251.89%

35 53.46% 106.92% 35 125.95% 251.89%

36 53.46% 106.92% 36 125.58% 251.16%

37 53.36% 106.73% 37 125.35% 250.70%

38 53.36% 106.73% 38 125.09% 250.18%

39 53.24% 106.47% 39 124.79% 249.57%

40 53.16% 106.31% 40 124.44% 248.88%

41 53.06% 106.13% 41 124.04% 248.09%

42 52.96% 105.91% 42 123.59% 247.19%

43 52.83% 105.67% 43 123.09% 246.17%

44 52.69% 105.39% 44 122.52% 245.04%

45 52.53% 105.07% 45 121.89% 243.77%

46 52.35% 104.71% 46 121.19% 242.38% 47 52.16% 104.31% 47 120.43% 240.86%

48 51.94% 103.88% 48 119.61% 239.21%

49 51.71% 103.41% 49 118.72% 237.45%

50 51.46% 102.92% 50 117.78% 235.55%

51 51.20% 102.40% 51 116.60% 233.20%

52 50.92% 101.85% 52 115.67% 231.35%

53 50.64% 101.28% 53 114.52% 229.03%

54 50.34% 100.68% 54 113.37% 226.74%

55 50.03% 100.06% 55 111.96% 223.93%

56 49.70% 99.39% 56 N.A. N.A.

57 49.34% 98.68% 57 N.A. N.A.

58 48.95% 97.91% 58 N.A. N.A.

59 48.46% 96.93% 59 N.A. N.A.

60 48.07% 96.14% 60 N.A. N.A.

For 12 Years Policy Term

Entry Age(Age as on last birthday)

Annual Income Benefits(payable monthly)

in the first 5 years of thePayout Period

(as % of Annualised Premium)

Annual Income Benefit(payable monthly)

in the last 5 years of thePayout Period


Annual Income Benefits(payable monthly)

in the first 5 years of the Payout Period


Annual Income Benefit(payable monthly)in the last 5 years ofthe Payout Period


Annualised Premium excludes extra Premium, Rider Premium and Service Tax or any other taxes, cesses or levies, if any.*1 Lac of Annualised Premium

For 6 Years Policy Term

Entry Age(Age as on last birthday)


For example: Mr. Gupta, whose age is 35 years, wishes to get a monthly income of `10,000 for the first 5 years of the Payout Period. He needs to pay`10,000 X 9.53 (as mentioned in the table below) = `95,300 as Annualised Premium for 12 Pay Policy Term variant.

CONTACT TOLL FREE NO: 1800-200-4006

Max Life Insurance Company Limited is a joint venture between Max India Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd., 11th Floor, DLF Square Building, Jacaranda Marg, DLF Phase II, Gurgaon (Haryana) 122002. 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 change in tax laws. Insurance is the subject matter of solicitation.Trade logos displayed belong to Max India Ltd. and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co. Ltd. under a license. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd. Axis Bank Ltd. is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai 400025. Corporate Agent License No: 1891411. ARN: Max Life/Ads/Ogilvy/Axis/GIP Leaflet/Nov 2014

IRDA Regn. No - 104

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERSIRDA clarifies to public that IRDA or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. IRDA does not announce any bonus.Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

25 22.37 25 9.47

26 22.37 26 9.47 27 22.37 27 9.47

28 22.37 28 9.47

29 22.37 29 9.49

30 22.37 30 9.49

31 22.37 31 9.49

32 22.40 32 9.51

33 22.40 33 9.51

34 22.40 34 9.53

35 22.45 35 9.53

36 22.45 36 9.56

37 22.49 37 9.57

38 22.49 38 9.59

39 22.54 39 9.62

40 22.57 40 9.64

41 22.62 41 9.67

42 22.66 42 9.71

43 22.71 43 9.75

44 22.77 44 9.79

45 22.84 45 9.84

46 22.92 46 9.90

47 23.01 47 9.96

48 23.10 48 10.03

49 23.21 49 10.11

50 23.32 50 10.19

51 23.44 51 10.29

52 23.57 52 10.37

53 23.70 53 10.48

54 23.84 54 10.58

55 23.99 55 10.72

56 24.14 56 NA

57 24.32 57 NA

58 24.51 58 NA

59 24.76 59 NA

60 24.96 60 NA

Life Insureds age(Age as on last birthday) Annualised Premium Multiple

* Life Insureds age (Age as on last birthday) Annualised Premium Multiple

*

For 12 Years Policy Term For 6 Years Policy Term

*Please note that the Annualised Premium multiples listed above are rounded off and shall provide approximate Annualised Premium payable. For the exactAnnualised Premium amount calculation, please refer to Benefit Illustration or product calculator page on www.maxlifeinsurance.com. Annualised Premiumexcludes extra Premium, Rider Premium and Service Tax or any other taxes, cesses or levies, if any.

How to calculate Annualised Premium* basis Monthly Income in the first 5 years: Multiply the Annualised Premium multiples below with one monthlyincome required in the first 5 years of the Payout Period to arrive at the Annualised Premium payable at your age and for the chosen Policy Term variant.

PREMIUM CALCULATOR

Documents

Axis GIP Leaflet