Axis Max Life Smart Term Plan Plus

Quick Information

Basic Details

Entry Age 18 to 65 years

Coverage Amount Not specified

Policy Term Up to 67 years

Premium Payment Up to 60 years

Claim Settlement 99.70% (FY 2025)

Claim Value Ratio 0.00%

Best For

Families needing comprehensive coverage

People who want no room rent restrictions

Those preferring cashless treatments

Individuals looking for AYUSH coverage

Senior citizens seeking reliable cover

What Works Well

Excellent claim settlement ratio of 99.70%

99.75% claims settled within 30 days

Coverage available up to age 85

Early exit option available

Return of premium variants available

Multiple claim payout choices

Watch Out For

No increasing life cover option

Limited pay options are fewer than some competitors

No home pickup for claim documents

Death claim form is relatively lengthy

Toll-free support response is slower than peers

Whole life coverage available only through specific variant

Hidden Clauses - Read Very Carefully!

These clauses are often buried in fine print. MyInsureBuddy surfaces them so you're never surprised at claim time.

Suicide exclusion applies during first 12 months

Critical illness rider subject to waiting periods and definitions

Terminal illness benefit is accelerated and reduces death benefit

Special Exit Value available only under eligible variants and conditions

Accidental death rider exclusions apply for war, criminal acts and hazardous activities

Policy revival subject to underwriting approval

⚡ At a Glance

Return of Premium Whole Life Cover Income Benefit Monthly Income Option Waiver of Premium Smoker Allowed Terminal Illness Cover Critical Illness Rider Accidental Death Rider Accidental Disability Rider

Death Benefit Options

•["Lump Sum"

•"Monthly Income"

•"Lump Sum Plus Monthly Income"]

Premium Payment Options

•Regular Pay

•Limited Pay

•Pay Till 60

Premium Frequency

•Annual

•Semi-Annual

•Quarterly

•Monthly

Available Riders

•Critical Illness Rider: Coverage against 64 specified critical illnesses up to ₹40 Lakhs

•Accidental Death Benefit Rider: Additional payout up to ₹1 Crore on accidental death

•Waiver of Premium Plus Rider: Waiver of future premiums due to covered critical illness or disability

Claims Experience

•99.70% claim settlement ratio

•97.39% claim settlement ratio by value

•99.75% claims settled within 30 days

•Only 0.03% claim complaints

•Online claim tracking available

•Dedicated relationship manager during claims

Unique Features

•7 plan variants available

•Special Exit Value up to 200% of premiums paid

•Insta payment on claim intimation

•Rebalancing Cover option

•Income Protection Cover option

•Whole Life Cover variant available

Women Specific Benefits

•Maternity Cover available

•Coverage for congenital anomalies

•Lifeline Plus benefit

•15% premium discount for female lives

Important Buying Suggestions

•Choose claim payout option carefully

•Review rider definitions before purchase

•Disclose all medical history accurately

•Consider limited pay if retiring early

•Maintain nominee details and documentation

Coverage & Benefits

Base Death Benefit

Lump sum or income payout to nominees upon the policyholder's demise during the policy term.

Terminal Illness Cover

Accelerated payout of the base cover if diagnosed with a terminal illness.

Return of Premium

100% refund of total premiums paid if the policyholder survives the policy term.

Whole Life Cover

Extended life coverage up to 99 or 100 years of age.

Waiver of Premium

Future premiums are waived in case of critical illness or permanent disability.

Income Benefit Payout

Death benefit can be structured as regular monthly/annual income instead of a lump sum.

Critical Illness Rider

Lump sum payout upon diagnosis of covered critical illnesses.

Accidental Death Rider

Additional sum assured paid in case of death due to an accident.

Accidental Disability Rider

Financial protection against permanent or partial disability caused by an accident.

Waiver of Premium Plus Rider

Waiver of future premiums due to covered critical illness or disability

Official Policy PDF

Download the official IRDAI-filed brochure from Axis Max Life Insurance Company Limited.

Download (0.6 MB)

MyInsureBuddy Score

Recommended

Among top 20% in category

Claim Settlement 97%

Product Benefits 0%

Value for Money 86%

Flexibility 91%

Rider Strength 84%

Hidden Risk Safety 0%

Risk Level Low Risk (2/10)

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Quick Information

What Works Well

Watch Out For

Hidden Clauses - Read Very Carefully!

⚡ At a Glance

Death Benefit Options

Premium Payment Options

Premium Frequency

Available Riders

Claims Experience

Unique Features

Women Specific Benefits

Important Buying Suggestions

Coverage & Benefits

Terms & Conditions (Simplified)

Maximum Maturity Age

Free Look Period

Grace Period

Revival Period

Early Exit Benefit

Claim Payout Flexibility

Limited Pay Options

Terminal Illness Cover

Online Claim Tracking

What's Not Covered

Official Policy PDF

MyInsureBuddy Score

Quick Actions

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