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Term Life Insurance · head to head

Super Term Plan vs Smart Secure Plus Plan

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Quick verdict

  • Smart Secure Plus Plan is better for insurer's claim payout record.

Computed from stored specifications, the published term life insurance scoring rules and recorded prices. Not an opinion.

Specifications side by side

Spec
Super Term Plan
Smart Secure Plus Plan
Eligibility
Minimum entry age
18 years
18 years
Maximum entry age
65 years
65 years
Maximum maturity age
85 years
85 years
Policy term
Regular Pay: 10 to 55 years; Limited Pay: PPT + 5 years to 55 years
10 to 67 years (Return of Premium variant: up to 50 years; POS: up to 47 years)
Minimum sum assured
₹25,00,000
₹20,00,000
Maximum sum assured
No Limit (subject to Board Approved Underwriting Policy)
No Limit, subject to limits determined in accordance with the Board approved underwriting policy
Plan
Plan options
Level Cover, Increasing Cover, Level 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
Limited Pay (Plan Option 1 & 2: 5, 7, 10, 12, 15, 20 years and To age 60; Plan Option 3: 5, 10 & 15 years), Regular Pay; Annual / Semi-Annual / Quarterly / 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
Lumpsum; Monthly Income for 10/15/20 years; Partly as Lumpsum and Partly as Monthly Income for 10/15/20 years
Lumpsum; Monthly Income; Part Lumpsum and Part Monthly Income (chosen by nominee at claim)
Riders
ABSLI Accidental Death and Disability Rider (UIN: 109B018V03), ABSLI Critical Illness Rider (UIN: 109B019V03), ABSLI Surgical Care Rider (UIN: 109B015V03), ABSLI Hospital Care Rider (UIN: 109B016V03), ABSLI Accidental Death Benefit Rider Plus (UIN: 109B023V02), ABSLI Waiver of Premium (UIN: 109B017V03)
Axis Max Life Waiver of Premium Plus Rider (UIN 104B029V06), Axis Max Life Critical Illness and Disability Rider (UIN 104B033V02)
Terminal illness benefit
Yes
Yes
Waiver of premium
Inbuilt Waiver of Premium on Accidental Total and Permanent Disability (life insured aged up to 70); brochure variant table also shows 'WOP on TI & ATPD' for all three options; ABSLI Waiver of Premium rider (CI or disability) optional
Optional Axis Max Life Waiver of Premium Plus Rider (death, disability & critical illness)
Premium
Sample annual premium
₹19,400
₹16,178
Sample premium is for
Male, standard life, non-smoker, age 30, Sum Assured Rs 1,00,00,000, cover till age 85 (55-year term, not the 30-year profile), Regular Pay, annual frequency, Level Cover option, death benefit lumpsum; premium excluding taxes and first-year discount, if any. Brochure gives no 30-year-term figure.
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)
98.65%
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
109N153V02
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

Super Term 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
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