Axis Max Life Insurance vs Edelweiss Life

Smart Term Plan Plus

Premium starts ₹970/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.8%

Average Claim Trend

99.73%

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Zindagi Protect Plus

Premium starts ₹1,065/month

Max Coverage Upto

100 yrs

Claim Settlement Ratio

99.3%

Average Claim Trend

99.24%

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₹1 Crore Life cover starting from ⁺

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Axis Max Life Insurance vs Edelweiss Life

Smart Term Plan Plus

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Zindagi Protect Plus

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Compare Axis Max Life and Edelweiss Life to check which insurance provider offers the best term insurance plan in India 2026. This comparison is made by considering factors such as claim settlement ratios, solvency ratios, premium rates, and personal insurance needs.

Which is Better - Axis Max Life or Edelweiss Life?

Both providers are approved by the Insurance Regulatory and Development Authority of India (IRDAI). Your selection depends on your coverage needs.

Choose Axis Max Life If you want plans with flexible payout options, strong rider coverage (critical illness, waiver of premium), and high claim settlement ratio. Choose Edelweiss Life if you want term plans designed with family-support benefits such as spouse protection or child-support features integrated into certain policy structures.

Both insurers offer a wide range of insurance plans that suit the needs of every customer.

Axis Max Life or Edelweiss Life - Comparison Table

The table below summarises the major features of policies like Axis Max Life and Edelweiss Life insurance in terms of publicly available disclosure requirements and eligibility.

Features	Axis Max Life Insurance	Edelweiss Life Insurance
Claim Settlement Ratio (FY 2025-26)	99.70%	99.29%
Solvency Ratio	1.99	1.81
Entry Age (Term Plans)	18 - 65 years	18 - 65 years
Maturity Age	Up to 85 years	Up to 100 years
Riders Available	Critical illness and disability rider Max life pure risk premium health insurance rider Waiver of premium rider Accident cover	Accidental death benefit rider Accidental total & permanent disability rider Waiver of premium rider Hospital cash benefit option Child’s future protection benefit Better half benefit rider
Premium Payment Options	Yearly / Half-Yearly / Quarterly / Monthly	Yearly / Half-Yearly / Quarterly / Monthly
Online Purchase	Yes	Yes

Note: Information based on publicly available insurer disclosures and IRDAI reports.

Term Insurance Plans Offered

This section introduces the term insurance plans provided by Axis Max Life and Edelweiss Life Insurance, including the following:

Axis Max Life Insurance Plans

Axis Max Life Smart Term Plan: Ideal for those who want to secure their finances, have debts or loans, and are the primary provider for their dependents.
Axis Max Life Smart Total Elite Protection Plan: Suited for someone who is the sole earner in the family and wants a lot of coverage with an optional rider and benefits combo.
Axis Max Smart Secure Plus Plan: Best for salaried professionals or parents who are willing to secure their finances for hard times and who wish to save for their children’s future.
Axis Max Life Saral Jeevan Bima: A good plan that can suit housewives, loan takers, small businesses, or self-employed persons.

Edelweiss Life Insurance Plans

Edelweiss Life Zindagi Protect: An ideal plan for individuals who want optional added benefits supporting family financial stability & future support structures.
Edelweiss Life Saral Jeevan Bima: An affordable term life insurance policy best suitable for those seeking clearly defined coverage limits and simplified policy conditions.

Premium Comparison (Illustrative Example)

The comparison table below gives an approximate idea of the monthly premiums for the following sample customer profile based on current online term insurance calculators:

Age: 23 years
Gender: Male
Smoker: No
Education: Graduate
Occupation Type: Salaried
Sum Assured: ₹1 Crore
Annual income: ₹8 lakh to ₹10 lakh
Policy Term: 60 years

Insurer	Approx. Monthly Premium
Axis Max Smart Term Plan Plus	₹1195
Edelweiss Life	₹713

*The real premium varies according to age, health status, policy duration, and chosen riders.

Information sourced from Policybazaar’s website

Claim Settlement Analysis

Claim settlement ratio basically measures the percentage of claims an insurer is able to settle in a financial year.

Axis Max Life Insurance has continued to exhibit an excellent track record of a claim settlement ratio of approximately 99.70% in its recent audited disclosures, indicating efficiency in the processing and paying of eligible claims.
Edelweiss Life Insurance has shown an impressive performance with a claim settlement ratio of about 99.29% and has been reflected consistently in its claim handling.

Who Should Choose Which Insurer?

The following considerations can help you find a more suitable insurer depending on your coverage choice:

Choose Axis Max Life if:

You want a plan that allows early exit and provides benefits after a certain timeline.
You want plans for large financial obligations that require higher coverage levels.
You want a plan that allows expanded protection through optional add-on benefits.

Choose Edelweiss Life if:

You prefer term plans that integrate family-support benefits within the policy design.
You want insurance plans designed with a focus on dependents’ financial continuity.
You prefer straightforward coverage mechanics and simplified benefit structures.

Final Recommendation

Axis Max Life is better if you want flexible plans, strong rider options, and a slightly higher claim ratio. Edelweiss Life is a good fit if you prefer lower premiums and simple plans with built-in family benefits. In the end, your choice depends on whether you value flexibility or affordability more.

Explore the popular searches and stay informed

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

+On the basis of your profile

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 410/month (Rs.14/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age rounded off to nearest 10

+Rs. 245 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 15/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10

+Rs. 504/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 494/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 636/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 918/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,286/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 453/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.582/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 786/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,592/month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 525/month is the starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 68 years of age.

+Rs. 668/month is starting price for a 2 crore term life insurance for an 25 year-old male, non-smoker, with no pre-existing diseases, cover upto 45 years of age.

+Rs. 1,200/month is starting price for a 2 crore term life insurance for an 35 year-old male, non-smoker, with no pre-existing diseases, cover upto 55 years of age.

+Rs. 410/month is starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 577/month is starting price for a 1 crore term life insurance for an 18 year-old Male, self employed, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. ₹361/month is the starting price for a ₹1 crore loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

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