Axis Max Life
Smart Secure Plus Plan
Sample premium
₹16,178 a year*
Term Life Insurance · head to head
Smart Secure Plus Plan vs iTerm Prime
Bandhan Life
iTerm Prime
Sample premium
₹9,453 a year*
Specifications side by side
Spec
Smart Secure Plus Plan
iTerm Prime
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
65 years
Maximum maturity age
85 years
85 years
Policy term
10 to 67 years (Return of Premium variant: up to 50 years; POS: up to 47 years)
Minimum 5 years (Regular Pay), 15 (10 pay), 20 (15 pay), PPT+5 (Pay till 60); maximum 70/75/80/85 less entry age
Minimum sum assured
₹20,00,000
₹25,00,000
Maximum sum assured
No Limit, subject to limits determined in accordance with the Board approved underwriting policy
No Limit, subject to Board Approved Underwriting Policy
Plan
Plan options
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, 5 Pay, 10 Pay, 12 Pay, 15 Pay, Pay Till 60; Annual, Semi-annual, Quarterly & Monthly modes
Regular Pay (same as Policy Term); Limited Pay: 10 years | 15 years | Pay till age 60; Annual, Half-Yearly and Monthly
Return of premium option
Yes
No
Death benefit payout
Lumpsum; Monthly Income; Part Lumpsum and Part Monthly Income (chosen by nominee at claim)
Lump sum
Riders
Axis Max Life Waiver of Premium Plus Rider (UIN 104B029V06), Axis Max Life Critical Illness and Disability Rider (UIN 104B033V02)
Bandhan Life AD Rider (UIN: 138B006V05)
Terminal illness benefit
Yes
—
Waiver of premium
Optional Axis Max Life Waiver of Premium Plus Rider (death, disability & critical illness)
—
Premium
Sample annual premium
₹16,178
₹9,453
Sample premium is for
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.
Standard male life, age 30, non-smoker, Sum Assured Rs 50 lakhs (not Rs 1 crore), Policy Term 55 years (coverage till age 85), Regular Pay (PPT 55 years), annualized premium; exclusive of any taxes, cess and levies. Only premium figure in the brochure.
Insurer
Death claims settled (insurer)
99.7%
99.73%
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
104N118V13
138N084V03
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
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
iTerm Prime
- Pro: Insurer paid 99.73% of individual death claims, higher than 96% of the 27 term life insurance plans on Comparezi that state it