Axis Max Life Smart Total Elite Protection plan is a term insurance product that offers life cover up to age 85, and starts with a sum assured of ₹20 lakh. It comes with flexible premium payment options and payout choices, with terminal illness cover up to ₹1 crore. You can also enhance protection with optional riders like critical illness and waiver of premium.
A 25-year-old male earning ₹10 lakh pays ₹10,234/year for a ₹1 crore term cover of Smart Total Elite Protection (STEP) till age 70. However, if you are looking for a term plan from the same insurer, we recommend Axis Max Smart Term Plan Plus, with a 99.62% average claim settlement ratio (CSR). This guide walks you through the features and premiums of STEP.
Looking for a term plan that combines strong life cover with flexible benefits? The Axis Max Life Smart Total Elite Protection plan is designed to offer long-term financial security, useful built-in features, and optional riders for more complete protection.
In the next few minutes, you will get to know whether Axis Max Life Smart Total Elite Protection is worth buying, its key features, premiums, rider options, and how it compares with Smart Term Plan Plus (STPP).
Axis Max Life Smart Total Elite Protection is a pure term insurance plan designed to provide financial security for your family at an affordable cost. The policy is a non-linked and non-participating life insurance product offered by Axis Max Life.
Eligibility Criteria
Aspect
Details
Minimum Entry Age
18 years
Maximum Entry Age
65 years (regular and limited pay) and 44 years (pay till 60)
Maximum Maturity Age
Up to 85 years
Policy Term
10 years to 67 years
Sum Assured (Base Death Benefit)
₹20 lakh with no upper limit (subject to underwriting)
Sum Assured (Accident Cover)
₹50,000 to ₹1 crore
Premium Payment Frequency
Annual, semi-annual, quarterly, and monthly
Premium Payment Term
Single pay, regular pay and limited pay
Death Benefit Payout Options
Lump sum, monthly income, or a combination of both
Axis Max Life is an established insurer in the life insurance sector, and features at the top place in our best term insurance companies guide. The insurer offers remarkable customer service and has been consistent in settling claims. Axis Max reported an average CSR of 99.70% in FY 2024-25.
Check out the infographic to see which insurers rank in the top 10 by claim settlement ratios.
Key Features, Benefits, and Rider Options
Key Features and Benefits of Smart Total Elite Protection Plan
Terminal Illness Benefit: The plan includes built-in terminal illness cover with an accelerated payout of up to ₹1 crore on diagnosis of a terminal illness.
Special Exit Value (Zero Cost): From the 30th policy year onward, you can choose to receive all premiums paid back, except during the last four policy years. This benefit is available at no additional cost.
Cover Continuance Benefit: After completing three policy years, you can defer due premiums for up to 12 months while your base cover and attached riders continue without interruption.
Insta Payment on Claim Intimation: A part of the sum assured can be paid within 1 working day of claim registration. This helps your family access immediate funds when they may need financial support the most. This payout ranges from ₹25,000 to ₹2 lakh, subject to policy terms and conditions.
Rider Options Under Smart Total Elite Protection Plan
01
Critical Illness and Disability Rider
This pays a benefit if you are diagnosed with any of the 22 or 64 covered critical illnesses. The rider is available for a maximum of 20 years during the policy term.
02
Waiver of Premium
This waives all future base policy and rider premiums if the insured faces a critical illness. This is applicable to 11 listed critical illnesses and 4 total and permanent disability conditions.
03
Accidental Death Benefit
The rider pays an additional lump sum to your nominee if death occurs due to an accident during the rider term. It adds extra protection over the base term plan.
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Premium, Eligibility, and Plan Variants
Premiums for the Axis Max Smart Total Elite Protection term plan increase with age. However, they remain fixed for the policy tenure once purchased. Let’s take an example of a non-smoker profile with a sum assured of ₹1 crore (coverage till age 70, without first-year discounts).
Premium Comparison Across Ages
Age
Male
Female
25
₹10,234
₹8,848
30
₹12,902
₹10,822
35
₹16,853
₹13,885
40
₹22,428
₹18,244
45
₹31,016
₹29,465
Note: The figures are illustrative for people residing in Delhi. Actual premiums depend on your insurer’s underwriting.
The policy offers only level cover as the default plan variant. If you want to explore whether you are eligible for term plans, please refer to our guide on term insurance eligibility.
Is the Smart Total Elite Plan Worth Buying?
Smart Total Elite Protection is a strong plan and a solid overall choice if you want comprehensive protection from a reliable insurer like Axis Max Life. However, it is worth comparing it with Smart Term Plan Plus. It offers better rider options, such as waiver of premium plus, useful built-in features like health management services and lifeline plus, along with a higher first-year premium discount.
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Conclusion
Axis Max Life Smart Total Elite Protection is not a flagship plan of the insurer. It is a predecessor to the Axis Max Smart Term Plan Plus plan. Additionally, the plan lacks health management services. Furthermore, Smart Total Elite Protection is available only through select channels.
If you wish to look for other term plans that align with your future goals, explore our guide on the best term insurance plans.
Frequently Asked Questions
What is the Axis Max Life Smart Total Elite Protection term plan?
Axis Max Life Smart Total Elite Protection is a pure term insurance plan from Axis Max Life Insurance. It is designed to provide financial security to your family if something happens to you during the policy term.
The plan offers life cover up to age 85, with a minimum sum assured of ₹20 lakh and no upper limit. It also includes useful features such as terminal illness cover, quick claim support and cover continuance. You can opt for optional riders like critical illness and waiver of premium.
What is the claim settlement ratio of Axis Max Life Insurance?
Axis Max Life Insurance reported an average claim settlement ratio of 99.62% for FY 2022 to FY 2025, which ranks it among the top 10 term insurance companies by CSR in India. For FY 2024-25, the insurer reported a claim settlement ratio of 99.70%.
A consistently high ratio gives policyholders greater confidence that valid claims are likely to be paid on time. While CSR should not be the only factor, it remains an important indicator when comparing insurers.
What is the Insta Payment benefit in the STEP plan?
The Insta Payment benefit in the STEP plan helps nominees receive immediate financial support after claim intimation. A part of the death benefit can be paid within 1 working day, subject to submission of all required documents and policy terms.
The payable amount may range from ₹25,000 to ₹2 lakh, depending on the sum assured you choose at policy inception. The remaining claim amount is settled after full review and approval. This feature can help families manage urgent expenses during a difficult period.
What are the premium rates for the Axis Max Life STEP plan at different ages?
For a non-smoker in Delhi with ₹1 crore cover till age 70, annual premiums may be around ₹10,234 for a 25-year-old male and ₹8,848 for a 25-year-old female. At age 40, premiums may rise to about ₹22,428 for males and ₹18,244 for females.
By age 45, they may rise further. This clearly shows that buying early usually offers better long-term value. Additionally, female policyholders receive upto15% discount on premiums. However, actual premiums depend on your insurer's underwriting.
What are the eligibility criteria for the Axis Max Life STEP Plan?
The minimum entry age for the STEP plan is 18 years. The maximum entry age can go up to 65 years for regular and limited pay options. Coverage can continue up to age 85, depending on the chosen option.
The minimum sum assured starts at ₹20 lakh, with no stated upper cap. Buyers can choose annual, half-yearly, quarterly, or monthly premium payment modes. The plan offers regular, limited, or single pay structures. Your eligibility criteria also depend on your insurer’s underwriting.
Is the Axis Max Life STEP plan worth buying in 2025?
The STEP plan can be worth buying if you value features beyond basic life cover. Benefits such as terminal illness support and quick claim assistance add flexibility. However, Smart Total Elite Protection Plan is not the insurer’s current flagship plan and is available only through select channels.
If your only priority is comprehensive coverage at an affordable premium, Axis Max Smart Term Plan Plus is the better choice. The policy offers better value and includes modern features like health management services.
What is the difference between the STEP plan and the STPP?
The STEP plan is an older protection product, while Smart Term Plan Plus is Axis Max Life’s newer flagship term insurance offering. Smart Term Plan Plus is more widely available through open channels and often preferred by new buyers.
STEP is available through select channels and may come with restricted access in some cases. Both plans offer life cover, but the newer plan includes updated features and wider availability. For most fresh applicants, Smart Term Plan Plus is the easier choice.
Does the Axis Max Life STEP plan have a level cover option?
Yes, the STEP plan offers a level cover option by default, where the sum assured remains fixed throughout the policy term. This means your family gets the same cover amount whether the claim happens early or later in the term.
It suits buyers who prefer predictable protection with simple planning. Since the cover does not increase with inflation, some buyers may prefer increasing cover options in other plans if long-term purchasing power is a concern. One can opt for plans like Axis Max Smart Term Plan Plus, which offers a high-level cover amount which aligns better with future requirements.
What is the critical illness waiting period in the STEP plan?
The STEP plan applies a 90-day waiting period for major critical illness/total and permanent disabilities. While this waiting period is 180 days for minor cases like early-stage cancer. Many plans in the market apply longer waiting periods, so this can be a useful advantage.
A shorter waiting period allows earlier access to the rider benefit, which enhances overall value. However, illnesses diagnosed during the waiting period usually do not qualify for payout. The policy comes with a survival period of 14 days.
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