Insurance Company
Axis Max Life Insurance
Policy Name
Smart Term Plan Plus
Expert Overview -
Axis Max Life (formerly Max Life) is a life insurer backed by Max Financial Services and Axis Bank as joint venture partners, with multi-channel distribution across India.
Plan Strategy -
A flexible term plan with multiple plan options, including variants like Level Cover and Smart Cover (with higher cover in early years), plus add-ons such as women-centric benefits like Maternity Cover/Lifeline Plus (as applicable).
Network Hospitals
N/A+
Not applicable
Claim Ratio
99.62%
>95% recommended
Complaints
5.67
<10 recommended
Policy Features
Policy Analysis Detail
Inbuilt Value
Strategic Verdict
Instant payment (within 1 working day) post death intimation
Included
Standard Feature
Special features for females including additional discounts
Included
Standard Feature
Option to defer 12 months premium once after 3 years
Included
Standard Feature
Option to receive premium payback starting 30th policy year
Included
Standard Feature
Accelerated payout of 1 Cr in case of terminal illness
Included
Standard Feature
150% cover paid in case of death in first 15 years
Included
Standard Feature
Option to include 64 critical illness
Included
Standard Feature
Waiver of premium in case of permamnet disability or terminal illness
Included
Standard Feature
Based on IRDAI Public Disclosures (2025-26)
Enhanced Coverage
Key Add Ons Available
Accidental Death BenefitAdditional payout on accidental death
Waiver of PremiumPremiums waived on disability or CI
Critical Illness BenefitLump-sum on CI diagnosis
