Overview of Smart Secure Plus
The Axis Max Life Smart Secure Plus Plan is a comprehensive term insurance policy designed to provide robust financial protection with flexibility and customization. Offering coverage from ₹50 lakhs up to ₹35 crores, it caters to a wide range of protection needs. The plan features multiple premium payment options, death benefit variants including level and increasing cover, and several riders such as critical illness, accidental death, and waiver of premium. With a strong claim settlement ratio of over 99%, this plan combines affordability, extensive coverage, and digital convenience to secure your family’s future. The Axis Max Life Smart Secure Plus Plan is currently unavailable for fresh purchase.
Experts' Review of Smart Secure Plus
Written by Monish Vora
Chief Editor
The Axis Max Life Smart Secure Plus Plan is a versatile term insurance solution offering coverage from ₹20 lakhs to ₹35 crores, ideal for those seeking substantial financial protection. It provides two death benefit options: Life Cover and Increasing Life Cover, which grows 5% annually for 20 years to help keep pace with inflation.
The plan offers flexible premium payment terms (single, regular, limited) and frequency options to suit various budgets. Riders include Waiver of Premium Plus, Critical Illness (covering 64 illnesses), Accident Cover, and Joint Life Benefit. The Premium Break feature allows skipping up to two premiums during the term without losing coverage, providing financial relief when needed.
However, the Increasing Life Cover option excludes some riders like Accelerated Critical Illness and Voluntary Sum Assured Top-up, limiting customization. The plan lacks a separate Accidental Disability rider available with some competitors. Additionally, premiums for the Return of Premium variant tend to be higher, which may not fit all budgets.
Pros
It is a feature-rich plan with a critical illness and waiver of premium rider
Axis Max Life Insurance has a solid track record with a good Claim settlement ratio, high amount settlement ratio and high business volumes.
Offers an exit option with full premium refund and allows premium increases later through Voluntary Top-Up benefit.
Cons
Premiums are relatively high compared to other term plans.
Available only for specific profiles
Axis Max Life
Key Insights
Founded
2000
Axis Max Life was established 26 years ago and has built strong credibility over time, backed by its long-standing presence in the market.
Claims Experience
99.62% CSR, calculated as a 3-year average
Axis Max Life settles 99.62% of all claims it receives demonstrating strong credibility.
Complaints
5.67 complaints per 10,000 claims registered
Axis Max Life maintains a low volume of complaints, reflecting strong customer satisfaction and effective service.
Amount Settled
96.37% of total claim amount settled
Axis Max Life demonstrates excellent claim payout efficiency, settling over 96.37% of the total claim amount filed, reflecting strong financial reliability.
The aforementioned ratios have been averaged over three years (FY23-FY25)
Features of Smart Secure Plus
Zero Cost Option
Some insurers will return all your premiums if you forego your policy before maturity, during a period specified by the insurer. Meaning you get all your premiums back, while also being protected under the term plan during this time. And Smart Secure Plus extends this option.
Waiver of Premium
Some policies waive all future premium payments if you are ever disabled (due to accident) or diagnosed with a critical illness. Smart Secure Plus extends the waiver-of-premium option in both cases.
Customisable
Ensures continuous protection by waiving future premiums in case of permanent disability or mentioned critical illnesses.
Critical Illness
If you're ever diagnosed with a critical illness, you would want your insurance policy to pay a fixed sum that can help you deal with any monetary obligations and financially support your needs during treatment. Smart Secure Plus extends critical illness benefit without too many restrictions and pays up to ₹30 Lakhs so long as you are diagnosed with one of the 64 illnesses listed in the policy brochure.
Special Exit Value
Some insurance companies will return all your premiums if you surrender your policy before maturity, but this can only be possible if you have a policy tenure above a certain number of years and maintain consistent renewals for a minimum period specified by the insurer. This means you get all your premiums back, while being protected under the term plan during this time. Smart Secure Plus extends this option.
Terminal Illness
Certain policies will disburse the entire cover amount the moment you are diagnosed with a terminal illness. So you can still get the money when alive and use it any way you wish. Smart Secure Plus gives you the option to receive the entire or a percentage of sum assured upon diagnosis of a terminal illness.
Add-ons of Smart Secure Plus
Critical illness and Disability rider
Includes the critical illness and total permanent disability rider.
Waiver of Premium Plus Rider
Ensures continuous protection by waiving future premiums in case of permanent disability or mentioned critical illnesses.
Exclusions in Smart Secure Plus
Conditions or treatments that the policy clearly says it will not cover.
Suicides are not covered in the first year.
Death due to intoxication.
If the nominee is involved in the death of the policyholder, that would not be covered.
The policyholder dies with respect to his involvement in criminal activity.
Death by suicide within the first policy year is not covered.
Disclaimer: For illustration purposes only - exact terms are in the policy wording.
Variants of Smart Secure Plus
Life Cover
Sum Assured chosen at inception will remain level through the term of the policy. Guaranteed Death Benefit will be paid to the beneficiary on death of the Life Insured.
Increasing Life Cover
Guaranteed Death Benefit will be paid to the beneficiary on death of the Life Insured. Under this cover, the Base Sum Assured chosen at inception increases by 5% p.a. (simple interest) on each policy anniversary, subject to maximum of 200% of Base Sum Assured chosen at inception.
What's missing in Smart Secure Plus
No option to decrease your cover over time
No Insta Payout Benefit
Reviews for Smart Secure Plus
R
Ramesh Bhatt
Opted for this plan online process super smooth zyada calls nahi and riders ka combo acha hai CI disability bhi Worth it For me For me good enoug
A
Anup Yadav
Chose Smart Secure riders ka combo acha hai CI disability bhi and premium break wali feature kaafi kaam aayi Good value No stress ok simple and
P
Pratik Biswas
Took Smart Secure rider options are solid for CI and disability and discounts for salaried non smoker made it cheaper Worth it For me Works w
S
Suhani A. Menon
Chose Smart Secure premium break exit feature is helpful but had to buy an alternative since it s unavailable now Would recommend with care felt
K
Kabir Chaudhary
Signed up for this plan rider options are solid for CI and disability and premium break exit feature is genuinely helpful Overall happy ok good
Frequently Asked Questions
What is the Axis Max Life Smart Secure Plus Plan?
What are the benefits of Axis Max Life Smart Secure Plus Plan?
What are the various riders customers can opt for with Axis Max Life Smart Secure Plus Plan?
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