01The detail

Smart Secure Plus Plan in one table

Claim settlement ratio

99.3%FY 2024–25

95% recommended

Complaints per 10,000

7policies

Under 10 recommended

Insurer	Axis Max Life Insurance Limited
Sum insured	₹20 lakh upwards on the main life, with no stated upper limit. A spouse added as a second life starts at ₹10 lakh.
Entry age	18 to 65 years (last birthday). The Pay till 60 route closes at 44, and buying through a point-of-sale agent closes it at 55.
Cover runs to	Up to 85 years. Bought through a point-of-sale agent, cover ends at 65.

Claim settlement and complaint figures are IRDAI-published and held centrally by NYVO, not taken from the insurer's marketing.

02Cover

What Smart Secure Plus Plan does, and what it does not

Term insurance is a narrow product, so the useful question is not how this plan scores against a benchmark – it is what it pays for and what it leaves out. Both lists come from Axis Max Life's own documents.

What this plan does

01Cover can run to age 85, with policy terms up to 67 years

02Optional return of premium version that hands back every premium if you outlive the term

03A spouse can be added as a second life on the same policy, from ₹10 lakh of cover

04Accident cover can be added at any point during the term, not just at purchase

05Premium Break: a year's premium can be deferred on longer policies

06Terminal illness pays out early and future premiums are waived

07Lower premium rates for women a three-year age setback on most premium routes

What it does not do

01Cover to 85, or entry up to 65, if you buy through a point-of-sale agent - that route caps entry at 55 and cover at 65

02Return of premium on a second life the refund applies to the primary life only

03Premium Break on shorter policies it needs a term over 30 years and premiums running over 21

03Variants

Which variant should you take?

This plan is sold in more than one form, and the choice is made once at purchase. Picking the wrong one is not something you can quietly correct later, so it is worth a minute now.

Base coverMost buyers

Plain term cover from ₹20 lakh, running to age 85 on terms of 10 to 67 years. Nothing is paid if you outlive the term.

Return of Premium

The same cover with every premium handed back if you outlive the term. The maximum term drops to 50 years, the premium is materially higher, and the refund only ever applies to the primary life - a spouse added as a second life is not covered by it.

Accident Cover option

An additional sum on accidental death, from ₹50,000 and capped at ₹1 crore. Unusually, it can be added part-way through the term rather than only at purchase.

04Exclusions

What this plan will not pay for

Every policy carries exclusions, and they are the clauses people read for the first time at claim stage. These are the ones worth knowing before you buy.

Not coveredIndicative, not exhaustive. Your policy wording is the contract.

01Suicide within 12 months of the policy starting or of its latest revival - 80% of the premiums paid is returned, provided the policy is in force.

02Bought through a point-of-sale agent, a 90-day waiting period applies from the date the risk is accepted. Death in that window pays nothing beyond a refund of premiums. It does not apply to accidental death, and it does not apply again on revival.

05The honest bit

Where Smart Secure Plus Plan falls short

No plan is right for everyone, and a page that only lists strengths is not much use to you. These are the gaps we would raise on a call before recommending it.

Worth knowing before you buyNone of these are dealbreakers on their own. They are the trade-offs this plan asks you to accept.

01Where you buy it changes what you can buy. Through a point-of-sale agent, entry closes at 55 instead of 65, cover ends at 65 instead of 85, and a 90-day waiting period applies during which death pays nothing but your premiums back.

02Axis Max Life sells this alongside Smart Term Plan Plus, which covers much of the same ground with six variants instead of three. Ask for both prices rather than assuming the newer plan is the better buy.

03The return of premium version protects only the primary life. If you have added a spouse as a second life, no premiums come back on their account.

04Premium Break sounds generally available but is not. It needs a policy term over 30 years and premiums running more than 21, which rules out most shorter policies.

05The complaint volume is 7 per 10,000, several times HDFC Life's 1.33. The claim record is strong at 99.3%, so claims do get paid - the friction is in getting there.

06Source documents