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Axis Max Life Smart Term Plan Plus Explained | Benefits, Features & Eligibility
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Axis Max Life Term Insurance
Axis Max Life Smart Secure Plus
Axis Max Life Smart Secure Plus Plan is a non-linked, non-participatin ...Read More
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✅ 99.70% claim settlement ratio
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About Axis Max Life Smart Secure Plus
A quick read on what this Axis Max Life Term Insurance term plan covers and why it might be a fit for you.
Axis Max Life Smart Secure Plus Plan is a pure protection plan built to secure your family's financial future. It is a non-linked, non-participating, individual pure risk premium life insurance plan that is specifically designed to fulfill the growing financial needs of a family and acts as a savior to create a financial net around the family.
With Axis Max Life Smart Secure Plan, the insured gets two death benefits, including a cover for terminal illness and an exit value. In addition, this plan also provides optional benefits such as premium breaks, joint life cover, additional payout on accidental death, and much more.
Axis Max Life Smart Secure Plus Plan offers you a range of benefits including:
- Death Benefit
- Tax Benefit
- Terminal Illness Cover
- Return of Premium
- Premium Break
- Special Exit Value
Eligibility Criteria for Axis Max Life Smart Secure Plus
Entry age
Minimum Age - 18 years Maximum Age - 65 years
Maturity age
Maximum Maturity Age - 85 years
Policy term
Minimum term - 10 years Maximum term - 67 years
Sum assured
Base sum assured: 20 lakhs to no limit.
Policy loan
The policy loan is not available under Axis Max Life Smart Secure Plus Plan.
Payment Modes
Annual, half-yearly, quarterly & monthly
Pros & cons
A quick honest summary — the strengths and the trade-offs.
Pros
- Income Protector
- Rider Options
- Premium Return (ROP)
Cons
- Limited Maturity Benefit
- Plan Complexity
- No Loan Benefit
Video reviews
Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.
Max Life Smart Term Plan | Max Life Term Insurance Review
Who can buy this plan
Eligibility criteria pulled straight from the policy wording.
Entry Age - 18 Years
Max Entry Age - 60 years
Minimum Sum Assured - Adaptable
Maximum Maturity Age - NA
Premium Payment Term - RP/SP/LP
How Does Axis Max Life Smart Secure Plus Plan Work?
Let's understand how the Axis Max Life Smart Secure Plus Plan works with a simple premium illustration.
Problem
Mr. Verma is looking for a simple and affordable term plan that provides financial safety to his family in case of his unfortunate demise.
Solution
His financial advisor advised him to buy the Axis Max Life Smart Secure Plus Plan. He visited PolicyX.com
Let's understand how the Axis Max Life Smart Secure Plus Plan works for him with a premium illustration table.
| Age of policyholder | Annual premiums | Policy tenure | Premium payment term | Total premiums paid | Sum assured |
| 30 years | Rs 15,495 | 40 years | 40 years | Rs 6,19,800 | Rs 1 crore |
Key Takeaways: In case of Mr. Verma's demise during the policy tenure, Rs 1 crore will be paid to their nominee.
Riders Associated with Axis Max Life Smart Secure Plus Plan
You can add the following riders to your Axis Max Life Smart Secure Plus Plan:
Axis Max Life Waiver of Premium Plus Rider
It will waive off all future premiums and the benefits of the policy will remain the same in case of disability, dismemberment, or diagnosis of critical illness.
Axis Max Life Critical Illness and Disability Rider
In case the policyholder is diagnosed with any of the critical illnesses mentioned in the brochure, then rider benefits are paid to them.
Features of Axis Max Life Smart Secure Plus
Key features that make Axis Max Life Smart Secure Plus stand out.
Joint life option
The plan offers you a Joint life option which helps you cover you and your spouse under a single plan.
Choose your premium payment term
Axis Max Life Smart Secure Plus provides an option to choose from 'Multiple Premium Payment Terms' as per your convenience.
Choice of policy term
Axis Max Life Smart Secure Plus Plan offers you the option to choose the policy tenure.
Terminal illness
Axis Max Life Smart Secure Plus Plan provides you with a terminal illness benefit to cover terminal illnesses mentioned in the brochure.
Benefits of Axis Max Life Smart Secure Plus
Key benefits of the Axis Max Life Smart Secure Plus at a glance.
Return of Premium
You can receive 100% of the total premiums paid with this feature, in case you survive the policy. This benefit is available with both base covers and across all premium payment terms and policy terms.
Premium Break
With this feature, you can take a premium break or holiday from paying the premium once the policy has completed ten years of tenure.
Special Exit Value
You get a one-time option to exit the policy with an exit benefit of Return of Premiums (total premiums paid plus underwriting extra premiums paid plus loading for modal premiums, if any).
Sum Assured Top-up
Opt to increase the sum assured at a later stage in the policy term. If the sum assured chosen, at the inception of the policy, is greater than or equal to Rs.50 lakhs, you can exercise this option after completing one policy year.
Exclusions of Axis Max Life Smart Secure Plus Plan
Here is the list of exclusions associated with the plan:
- The policy shall be terminated if the policyholder commits suicide within 12 months from the date of policy inception.
- Death due to consumption of any intoxicants.
- Death due to any aviation accident.
- Death due to war, terrorism, invasion, rebellion, military power, riots, or civil commotion.
- Death while being engaged in any naval, military, or air force operation during times of peace.
Conclusion
Axis Max Life Smart Secure Plus Plan is a comprehensive term plan that offers you a range of benefits including Return of Premium, Premium Break, Special Exit Value, Sum Assured Top-up, etc. If you are still confused about which term plan is best for you, then you can contact us at PolicyX.com. One of our insurance representatives will contact you shortly, understand your requirements, and choose a plan that suits your needs.
Conclusion
Axis Max Life Smart Secure Plus Plan provides Return of Premium, Premium Break, Special Exit Value, and other comprehensive benefits.
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Axis Max Life Smart Secure Plus Plan : FAQs
The 10 most-asked questions about Axis Max Life Smart Secure Plus, answered.
Axis Max Life Smart Secure Plus Plan is a term plan from Max Insurance Company Limited available through Axis Bank Limited. It provides benefit coverage up to the age of 85, either level or increasing sum assured, optional riders, premium breaks, or return of premium variant, depending on your choice.
The nominee after the death event can receive a payout in the form of a lump sum amount, monthly income, or a combination of both.
For the claim process of Axis Max Life Smart Secure Plus Plan, inform the insurer of the death of the insured as soon as possible, submit the required documents: policy document, death certificate, nominee’s ID, and bank details. If all documents are sorted, no investigation is needed, and the settlement is done adequately.
Yes, any citizen of India (holding a valid passport issued by Govt. of India) and temporarily residing in the country of his/her present residence. ALso, a citizen of a foreign country who is based in India can purchase Max Smart Term Plan.
No, fortunately, Axis Max Life Smart Term Plan comes with a unique feature that offers an option to skip paying premiums without losing the cover during the policy term. This feature can relieve policyholders from paying premiums in the case of financial difficulties.
Yes, according to the IRDAI, a policyholder can purchase multiple term policies from the same or different insurers. However, do not forget to inform both the insurance companies before buying a second policy.
No, you cannot avail loans under Axis Max Smart Term Plan.
Yes, you can avail of the additional coverage by buying Riders; however, for the same, you need to pay additional premiums.
Yes, the plan offers a grace period of 30 days, wherein you can pay your pending premiums without getting your policy lapsed.
Listed below are the documents you need to submit to buy Axis Max Life Smart Term Plan: Identity proof, Address proof, Income proof, Passport-size photographs.
Written and reviewed by
PolicyX content is researched in-house and reviewed by an IRDAI-certified insurance specialist before publication.
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