Axis Max Life
Smart Secure Plus Plan
Sample premium
₹16,178 a year*
Term Life Insurance · head to head
Smart Secure Plus Plan vs iSecure II
Bajaj Life
iSecure II
Sample premium
₹13,451 a year*
Quick verdict
- Smart Secure Plus Plan is better for insurer's claim payout record.
- iSecure II 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 Secure Plus Plan
iSecure II
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)
Life: 10 to [85 minus Age at Entry]; ROP: 10 to 50; Easy: 10 to 30 (minimum depends on PPT)
Minimum sum assured
₹20,00,000
₹10,00,000
Maximum sum assured
No Limit, subject to limits determined in accordance with the Board approved underwriting policy
Life & ROP Variant: No Limit; Easy Variant: Rs. 30,00,000; as per the Board Approved Underwriting Policy (BAUP)
Plan
Plan options
Life Cover, Increasing Life Cover; optional Return of Premium variant, Joint Life, Premium Break, Accident Cover, Voluntary Sum Assured Top-up
Life, ROP, Easy
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 or Limited Pay (5, 10, 15, 20, 25 years); Yearly / Half-yearly / Quarterly / Monthly
Return of premium option
Yes
Yes
Death benefit payout
Lumpsum; Monthly Income; Part Lumpsum and Part Monthly Income (chosen by nominee at claim)
One-time lump sum; partly lump sum and partly monthly income for 5/10/20/30/40 years; monthly income for 5/10/20/30/40 years
Riders
Axis Max Life Waiver of Premium Plus Rider (UIN 104B029V06), Axis Max Life Critical Illness and Disability Rider (UIN 104B033V02)
Bajaj Life Accidental Death Benefit Rider (UIN 116B034V02), Bajaj Life Accidental Permanent Total/Partial Disability Benefit Rider (UIN 116B036V02), Bajaj Life Family Protect Rider (UIN 116B056V01), Bajaj Life New Critical Illness Benefit Rider (UIN 116B058V01)
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
₹13,451
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.
Brochure illustration (Life variant): Ravi, 35 year old non-smoker, Sum Assured Rs 25 lakhs, policy term and premium payment term 50 years, annual premium Rs 13,451 (exclusive of GST). Gender not explicitly stated. NOTE: SA Rs 25 lakh, age 35, 50-year term.
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
104N118V13
116N208V03
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
iSecure II
- Pro: Return-of-premium option available