Axis Max Smart Term Plan Plus redefines term insurance by combining robust life coverage with smart savings components. As one of Axis Bank’s flagship insurance products underwritten by Max Life, this plan offers unique maturity benefits alongside traditional protection. This comprehensive guide examines the Axis Max Smart Term Plan Plus benefits, premium calculator, policy documents, and how it compares to other Max Life Insurance plans.
Key Features & Benefits
🛡️ Dual Protection:
- Death Benefit: Up to ₹2 Crore (Age 18-65)
- Maturity Benefit: 50-110% premiums returned (varies by term)
💰 Wealth Boosters:
- Guanteed Additions: 5% of sum assured every 5 years
- Loyalty Bonus: Up to 15% extra on maturity
🏥 Rider Options:
- Critical Illness (50 conditions)
- Accidental Death Benefit
📊 Tax Benefits: Sec 80C (Premium) & 10(10D) (Benefits)
Plan Variants & Premium Comparison
| Variant | Sum Assured | Term | Monthly Premium (35Y Male) | Special Feature |
|---|---|---|---|---|
| Basic Plus | ₹50L | 30Y | ₹1,450 | Pure term cover |
| Smart Plus | ₹1Cr | 30Y | ₹2,750 | Guaranteed additions |
| Max Plus | ₹1.5Cr | 30Y | ₹4,100 | Maturity benefit + CI rider |
Non-smoker premium with medical tests
Policy Documents & Resources
📄 Essential Documents:
- Smart Secure Plus Plan Max Life PDF [Download]
- Policy Wordings Document
- Benefit Illustration
🔍 Access via: Customer Portal > My Policies > Documents
Premium Calculator: Estimate Your Costs
Sample Calculation:
- Age: 30 Years | Coverage: ₹1Cr | Term: 25Y
- Estimated Premium: ₹2,199/month (With CI Rider)
💡 Use official Axis Max Life term Insurance Calculator for accurate quotes
Critical Illness Coverage
🩺 Major Conditions Covered:
- Cancer (Stage 3+)
- Kidney Failure
- Major Organ Transplant
- Paralysis
- Heart Valve Surgery
📌 Full list in Smart Secure Plus Plan Max Life pdf
Claim Process
⚡ 3-Step Settlement:
- Intimate claim via 1800-300-55777
- Submit Death Certificate + KYC
- Receive payout within 7 days (99.3% settlement ratio)
Axis Max Smart Term Plan Plus Review
✅ Pros:
- Maturity Benefits: Unique in term insurance category
- Flexible Riders: Comprehensive add-on coverage
- High Claim Settlement: Max Life’s 99.3% record
❌ Cons:
- Medical tests mandatory for all policies
- Complex benefit structure
PolicyBazaar Rating: 4.5/5 (Based on 8K+ reviews)
Max Life Insurance Plans Comparison
| Plan | Coverage | Term | Unique Feature |
|---|---|---|---|
| Smart Term Plus | ₹2Cr | 40Y | Maturity benefit |
| Online Term Plan | ₹1Cr | 35Y | Pure online purchase |
| Whole Life | ₹50L | Lifetime | Coverage till 99Y |
📥 Complete Max Life Insurance plans list available on website
Who Should Buy?
✔ Young Parents needing long-term protection
✔ Investors wanting insurance + modest returns
✔ Professionals seeking tax-efficient coverage
Alternatives:
- Pure term plans (Higher coverage at lower cost)
- ULIPs (For market-linked growth)
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