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Term Life Insurance · head to head

Smart Term Plan Plus vs Zindagi Protect Plus

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Quick verdict

  • Smart Term Plan Plus is better for insurer's claim payout record.
  • Smart Term Plan Plus 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
Smart Term Plan Plus
Zindagi Protect Plus
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
65 years
Maximum maturity age
100 years
100 years
Policy term
Regular Cover: 10 to 67 years; Return of Premium: 10 to 50 years; Whole Life Cover: 50 to 82 (100 minus age at entry) years; Credit Protect Cover: 5 to 40 years; other variants per prospectus
Minimum 5 (Regular Pay, Life Cover) / 10 (Regular Pay, ROP) to maximum 100 years - age at entry of Life Insured
Minimum sum assured
₹5,00,000
₹50,00,000
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
Regular Cover, Early ROP Plus, Smart Cover, Return of Premium, Whole Life Cover, Income Protection Cover, Credit Protect Cover, Classic Cover
Life Cover option, Return of Premium option
Premium payment
Single Pay, Regular Pay (not in Smart Cover, Early ROP Plus, Whole Life Cover), 5 Pay, 7 Pay, 10 Pay, 12 Pay, 15 Pay, Pay Till 60
Regular Pay (same as policy term); Limited Pay 5/7/10/15/20; Limited Pay 'To Age 60' (60 - entry age); Yearly / Half-yearly / Quarterly / Monthly
Return of premium option
Yes
Yes
Death benefit payout
Lumpsum; Monthly Income for 10/20/30 years; Part Lumpsum and Part Monthly Income; Income Protection Cover variant pays monthly income for higher of 120 months or outstanding term
Lumpsum; Monthly Income; Lumpsum plus Monthly Income
Riders
Axis Max Life Waiver of Premium Plus Rider (UIN 104B029V06), Axis Max Life Critical Illness and Disability Rider (UIN 104B033V03), Axis Max Life Accidental Death and Dismemberment Rider (UIN 104B027V05)
Edelweiss Life - Accidental Death Benefit Rider (UIN: 147B002V05), Edelweiss Life - Accidental Total and Permanent Disability Rider (UIN: 147B001V05), Edelweiss Life - Critical Illness Rider (UIN: 147B005V05), Edelweiss Life - Waiver of Premium Rider (UIN: 147B003V06)
Terminal illness benefit
Yes
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Waiver of premium
Future premiums waived after a Terminal Illness claim; optional Axis Max Life Waiver of Premium Plus Rider (disability and critical illness)
Via Edelweiss Life - Waiver of Premium Rider: waives future premiums on Critical Illness or Total and Permanent Disability due to accident
Premium
Sample annual premium
₹23,234
—
Sample premium is for
Prospectus example: Rishabh, non-smoker 30-year-old male, Regular Cover variant, sum assured Rs 2 crore, policy term 40 years, Rs 23,234 annualised premium for the entire policy term. 'Premium shown in all of the above illustrations is exclusive of any taxes and applicable discounts, if any.' NOTE: SA Rs 2 crore and 40-year term; no Rs 1 crore/30-year figure published.
—
Insurer
Death claims settled (insurer)
99.7%
99.29%
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
104N132V01
147N080V01

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 Term Plan Plus

  • Pro: Cover can run to age 100, later than 81% of the 27 term life insurance plans on Comparezi that state it
  • 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

Zindagi Protect Plus

  • Pro: Cover can run to age 100, later than 81% of the 27 term life insurance plans on Comparezi that state it
  • Pro: Return-of-premium option available
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