Axis Max Life Smart Secure Plus Plan Review

Quick Overview

The Axis Max Life Smart Secure Plus Plan is a non-linked, non-participating term insurance plan offering life cover up to age 85. It includes options like level or increasing cover, terminal illness benefit, return of premium, and joint life coverage.

Axis Max Life is considered a strong insurer due to its high claim settlement ratio of 99.70% in FY 2024-25 and solid solvency position. Backed by credible institutions like Axis Bank, it also demonstrates strong customer retention and scale, reflecting reliability and financial stability.

Not all term insurance plans stay equally relevant over time, and Smart Secure Plus is a good example of how products evolve. Axis Max Life Smart Secure Plus Plan offers strong protection features, but its relevance today depends on how it compares with newer, more updated term insurance plans by Axis Max Life in the market.

This guide walks you through the key features, benefits, drawbacks, and performance metrics of the Axis Max Life Smart Secure Plus Plan to help you make an informed decision.

Axis Max Life Insurance: Performance Metrics

Metric	Average FY 22-25	Industry Average	Key Insights
Claim Settlement Ratio (CSR)	99.62%	98.66%	The insurer shows a very high CSR above the industry average, indicating strong consistency in settling most claims reported by policyholders.
Amount Settlement Ratio (ASR)	96.37%	94.83%	ASR is higher than the industry average, suggesting the insurer also pays most of the claim amounts rather than rejecting higher-value claims.
Annual Business Volume (in cr)	₹10,719	₹3,411	Business volume is almost 3 times the industry average, indicating a well-established insurer with a large customer base and strong market presence.
Amount Paid in Death Claims (in cr)	₹1,316.2	₹195.05	The insurer pays a much higher total death claim amount than the industry average, reflecting a larger policy base and substantial claim servicing capacity.
Volume of Complaints per 10,000 claims	5.67	17.67	Complaint levels are far lower than the industry average, which suggests relatively better customer service and fewer disputes during claims or policy servicing.
Solvency Ratio	1.88x	2.04x	The solvency ratio remains comfortably above the regulatory requirement of 1.5x, though slightly below the industry average.

Key Features of Axis Max Life Smart Secure Plus Plan

Terminal Illness Benefit: Provides an accelerated payout up to ₹1 crore if the policyholder is diagnosed with a terminal illness.
Special Exit Value Option: If you do not choose the return-of-premium variant, you can exit at a specified point and receive back the premiums paid without paying extra charges. The feature is only available with policy terms of 40 years or more.
Return of Premium Option: If you survive the policy term, the plan returns 100% of the total premiums paid at maturity under the Return of Premium (ROP) variant. Premiums for ROPs are 80% –100% higher, no investment growth occurs, and rider costs aren’t refunded, which is why we don’t recommend them.
Premium Break Option: Allows you to skip paying premiums for up to one year during financial difficulties while continuing to stay covered. You can opt for up to two premium breaks. The feature is available for an additional premium, subject to specified terms and conditions.
Joint Life Cover: You can add your spouse to the policy at the start, providing life cover for both partners under the same plan. However, coverage for the secondary insured is often limited (Accidental Death benefit cover and voluntary sum assured top-up option not provided). Furthermore, available riders apply only to the primary life, which is why Ditto generally does not recommend joint cover.
Riders Offered: The Waiver of Premium Plus rider waives future premiums if you face listed critical illnesses or disability, keeping your policy active. The Critical Illness and Disability rider pays a lump sum on permanent disability or diagnosis of covered critical illnesses.
Voluntary Top-Up Sum Assured: Option to increase your life cover by up to 100% of the base sum assured in the future if your financial responsibilities increase.

Take a quick look at the infographic to have an idea of what the plan includes and excludes.

Note: As per IRDAI rules, if the policyholder dies by suicide within the first year of buying or reviving a term insurance policy, the insurer will reject the claim and refund around 80% of the total premiums.

Eligibility Criteria of Axis Max Life Smart Secure Plus Plan

Aspect	Details
Entry Age	18 – 65 years
Maximum Maturity Age	Up to 85 years
Sum Assured (Base Death Benefit)	₹20 lakh with no upper limit (subject to underwriting)
Premium Payment Frequency	Annual, semi-annual, quarterly, and monthly
Premium Payment Term	Regular Pay / Limited Pay (customizable) / Single Pay
Death Benefit Payout Options	Lump sum, monthly income, or a combination of both

CTA

Drawbacks of Axis Max Life Smart Secure Plus Plan

The increasing life cover grows at 5% simple interest and stops increasing after 21 years, with the total cover capped at 200% of the base sum assured.
The Premium Break option, which is now inbuilt in many newer term plans, is available here at an extra cost and comes with specific conditions.
It also misses out on value-added features like instant claim payout options and integrated health and wellness services that many modern plans now offer.

Premium Comparison Across Profiles

Age	Premium
25	₹13,447
30	₹16,567
35	₹21,327
40	₹26,760
45	₹36,829

Note: The listed premiums are for a self-employed, non-smoking male profile with a sum assured of ₹1 crore (coverage till age 65, without first-year discounts).

Why Choose Ditto for Term Insurance?

At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Aaron below love us:

No Spam & No Salesmen
Rated 4.9/5 on Google Reviews by 15,000+ happy customers
Backed by Zerodha
100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call now or chat on WhatsApp with our expert IRDAI-certified advisors.

Conclusion

Axis Max Life Smart Secure Plus was a flagship, comprehensive term plan with multiple benefits. However, it is no longer widely marketed today and is mainly available for specific profiles.

While it still remains a solid legacy product, most new buyers today are generally guided towards newer plans like Smart Term Plan Plus(STPP), which come with updated features and a more modern experience.

If you are a self-employed individual and are still being offered Smart Secure Plus, it can be considered, but availability is limited.
For most salaried or new applicants, Axis Max Life’s newer term plans like STPP are more relevant and easier to access.

Having said that, if you wish to look for other term plans, we recommend the best term insurance plans that align with your future goals.

Disclaimer: Axis Max Life Insurance is one of Ditto’s partner insurers, and its term plans, like STPP, are among the top recommended plans on our platform. The information in this guide is based on publicly available sources and insurer disclosures and is shared for educational purposes only.

Frequently Asked Questions

What are the popular plans offered by Axis Max Life?

Axis Max Life offers popular term insurance plans like Smart Term Plan Plus and Smart Total Elite Protection (STEP). The two plans offer straightforward term cover with enhanced benefits like accelerated payment on claim intimation, catering to customers seeking comprehensive life coverage.

What is the difference between Smart Secure Plus and Smart Total Elite Protection?

Smart Secure Plus allows you to increase your coverage later with a top-up option. Smart Total Elite Protection does not offer this benefit, though some policies let you raise total term cover by a set margin after purchase.

How can I find Axis Max Life Insurance branches near me?

You can find Axis Max Life Insurance branches using the company’s official branch locator on their website or by visiting nearby Axis Bank branches that often provide Axis Max Life services.

Is a policy loan available under Axis Max Life Smart Secure Plus?

Policy loans are offered only in the Return of Premium (ROP) variant. Once the policy has a surrender value, you can borrow up to 75% of that value.

Does Axis Max Life have a mobile app for policy management?

Yes, Axis Max Life offers a mobile app that allows policyholders to manage their policies easily. You can download the Axis Max Life mobile app from the Google Play Store or the Apple App Store.

Last updated on: 20 Mar, 2026