Ageas Federal Life
iSecure Plan
Sample premium
₹14,640 a year*
Term Life Insurance · head to head
iSecure Plan vs Smart Secure Plus Plan
Axis Max Life
Smart Secure Plus Plan
Sample premium
₹16,178 a year*
Quick verdict
- Smart Secure Plus Plan is better for insurer's claim payout record.
- Smart Secure Plus Plan is better for low minimum cover.
Computed from stored specifications, the published term life insurance scoring rules and recorded prices. Not an opinion.
Specifications side by side
Spec
iSecure Plan
Smart Secure Plus Plan
Eligibility
Minimum entry age
21 years
18 years
Maximum entry age
65 years
65 years
Maximum maturity age
85 years
85 years
Policy term
Regular/Single Pay: minimum 10 years; Limited Pay: 7 PPT-12 PT, 10 PPT-15, 15 PPT-20, 20 PPT-25, 25 PPT-30 minimum; maximum lower of (64 years; 85 - Age at Entry)
10 to 67 years (Return of Premium variant: up to 50 years; POS: up to 47 years)
Minimum sum assured
₹50,00,000
₹20,00,000
Maximum sum assured
No limits (subject to Board approved underwriting policy)
No Limit, subject to limits determined in accordance with the Board approved underwriting policy
Plan
Plan options
Life Cover, Life Cover with Return of Premium
Life Cover, Increasing Life Cover; optional Return of Premium variant, Joint Life, Premium Break, Accident Cover, Voluntary Sum Assured Top-up
Premium payment
Single Pay, Regular Pay, Limited Pay (7, 10, 15, 20 & 25 years); Single Pay, Yearly, Half-Yearly and Monthly
Single Pay, Regular Pay, 5 Pay, 10 Pay, 12 Pay, 15 Pay, Pay Till 60; Annual, Semi-annual, Quarterly & Monthly modes
Return of premium option
Yes
Yes
Death benefit payout
Lump sum
Lumpsum; Monthly Income; Part Lumpsum and Part Monthly Income (chosen by nominee at claim)
Riders
—
Axis Max Life Waiver of Premium Plus Rider (UIN 104B029V06), Axis Max Life Critical Illness and Disability Rider (UIN 104B033V02)
Terminal illness benefit
—
Yes
Waiver of premium
—
Optional Axis Max Life Waiver of Premium Plus Rider (death, disability & critical illness)
Premium
Sample annual premium
₹14,640
₹16,178
Sample premium is for
Healthy non-smoker male, age 30, Life Cover option, Sum Assured Rs 1 Cr, Policy Term 35 years, Premium Payment Term 25 years (limited pay; not the 30-year regular-pay profile). Tax inclusion not stated. Only sample rate given for age 30.
Prospectus 'Sample Premium Rates': non-smoker male, age 30, coverage till age 70 (40-year term), Life Cover Rs 1 crore, Regular Pay, annual, purchased online: Rs 16,178; 'excluding underwriting extra premium, taxes, cesses, if any'. NOTE: 40-year term (to age 70), not 30 years.
Insurer
Death claims settled (insurer)
98.52%
99.7%
Claims figures for
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
FY 2024-25: individual death claims paid out of claims decided and pending, by number, computed from IRDAI Handbook on Indian Insurance Statistics (Table 15)
IRDAI UIN
135N088V02
104N118V13
A tick marks the better value where the category rules say higher (or lower) is better. Text values are shown without a winner. Ties have no winner.
Pros and cons
iSecure Plan
- Pro: Return-of-premium option available
Smart Secure Plus Plan
- Pro: Insurer paid 99.70% of individual death claims, higher than 88% of the 27 term life insurance plans on Comparezi that state it
- Pro: Return-of-premium option available