Axis Max Life Introduces Smart RISE Retirement Product
Axis Max Life Insurance Ltd, formerly Max Life Insurance Company Ltd, announced the launch of the Axis Max Life Smart Retirement Income with Sustained Earnings Plan, branded Smart RISE (UIN: 104N160V01). The product blends a guaranteed fixed‑income annuity with a variable annuity whose returns are linked to the performance of the NIFTY 50 Index, allowing customers to secure a stable retirement income while participating in market upside.
The plan permits policyholders to customise their retirement horizon by selecting a deferment period during which no annuity payments are made. Upon completion of the deferment phase, the annuitant begins receiving regular payouts that consist of two components: a Guaranteed Annuity, which provides a constant income stream for the entire policy term, and a Variable Annuity, which is directly tied to the NIFTY 50 Index and varies with market movements.
A distinctive legacy‑planning feature is embedded in Smart RISE: if the annuitant passes away, the policy returns the original purchase price to the nominated beneficiaries, subject to the policy’s terms and conditions, thereby offering generational financial protection.
In a statement, Vaibhav Kumar, Head – Products, Ecommerce and Enterprise COE, described the introduction of a variable annuity as a major milestone for Axis Max Life, emphasizing the company’s intent to broaden its retirement portfolio, address emerging customer needs, and reinforce its commitment to delivering strong financial protection, flexibility, and reliable pension solutions for modern retirees.
Company background: Axis Max Life operates as a subsidiary of Max Financial Services Ltd, with Axis Bank Ltd and its affiliates holding shareholdings in the company. The insurer distributes its life‑insurance and long‑term savings solutions through a multi‑channel network that includes agency and third‑party partners. According to audited financial statements for FY 2025‑26, Axis Max Life recorded a gross written premium of INR 38,877 crore.
The product is registered with the Insurance Regulatory and Development Authority of India (IRDAI) under Registration No. 104 and Company Identification Number U74899HR2000PLC143012.