Axis Max Life vs HDFC Life Insurance

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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Click 2 Protect Supreme

Premium starts ₹0/month

Max Coverage Upto

0 yrs

Claim Settlement Ratio

99.7%

Average Claim Trend

99.63%

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₹1 Crore Life cover starting from ⁺

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Comparison between Plans

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Compare Axis Max Life Insurance and HDFC Life Insurance to check how these insurers provide the best term insurance plans in India in 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 HDFC Life?

Both insurances are overseen by the Insurance Regulatory and Development Authority of India, or the IRDAI. Your selection depends on your coverage needs.

Choose Axis Max Life - If you want the option to exit the plan early, keep your cover active during financial difficulties, and get a regular income for your family.

Choose HDFC Life - If you want your life cover to increase over time, extra protection at important life stages, and different payout options for your family.

These insurers are known for offering a wide range of plans based on customers' needs. Axis Max Life focuses on flexible, accessible plan designs, while HDFC Life offers a broader choice of plans with customisation options. Understand your financial needs for the final choice.

Axis Max Life vs HDFC Life – Comparison Table

This table compares the Axis Max Life Insurance and HDFC Life Insurance with their important features and eligibility criteria:

Features	Axis Max Life Insurance	HDFC Life Insurance
Claim Settlement Ratio	99.70%	99.68%
Solvency Ratio	1.99	1.87
Entry Age (Term Plans)	18 to 65 years	18 to 65 years
Maturity Age	Up to 85 years (Whole Life options available)	Up to 85 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, Critical Illness Rider, Livwell Rider, Waiver of Premium Rider, Income Benefit on Accident Disability Rider, Protect Plus 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

There are several term insurance plans and policies that Axis Max Life Insurance and HDFC Life Insurance provide:

Axis Max Life Term Insurance Plans

Axis Max Life Smart Term Plan: Ideal for individuals looking for high life cover at low premiums. Best-suited for young professionals, young families, and women.
Axis Max Life Smart Total Elite Protection Plan: Suited for individuals who want comprehensive protection with additional riders such as critical illness cover and waiver of premium benefits.
Axis Max Smart Secure Plus Plan: Designed for professionals, homeowners, or parents who want life cover with optional riders and flexible premium payment options.
Axis Max Life Saral Jeevan Bima: Suitable for homemakers, small business owners, or self-employed individuals who want basic life insurance protection.

HDFC Life Term Insurance Plans

HDFC Life Click 2 Protect Supreme: Preferable for individuals looking for multiple claim payout structures, such as lump sum payouts, monthly income for dependents, or a combination of both.
HDFC Life Click 2 Protect Supreme Plus: Suitable for individuals seeking higher coverage protection along with optional riders, particularly those who want additional accident or illness protection.

HDFC Life Click 2 Protect Super: Suitable for individuals who want coverage that can increase over time, especially those anticipating future financial responsibilities.
HDFC Life Click 2 Protect Life: Suited for policyholders who seek simple, pure-term coverage with some add-ons and are mostly interested in basic financial security.
HDFC Life Sanchay Legacy: Suitable for individuals who want a life insurance with guaranteed income payouts, commonly chosen by people who want to make sure their families are financially stable in the long run.
HDFC Life Click 2 Protect Elite Plus: Suitable for individuals requiring very high coverage amounts, particularly professionals or business owners with large financial liabilities.
HDFC Life Click 2 Protect Ultimate: Suitable for policyholders who want greater control over claim payout timing, including staggered benefit payments to beneficiaries.

Premium Comparison (Illustrative Example)

This comparison follows both of the insurance plans based on current online indicators. This file compares the premiums for a sample customer profile:

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

Insurer	Approx. Monthly Premium
Axis Max Smart Term Plan Plus	₹1195
HDFC Life C2P Supreme	₹768

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

Information sourced from Policybazaar’s website

Claim Settlement Analysis

The claim settlement ratio shows the percentage of claims that the insurance company has settled in the financial year.

Axis Max Life Insurance reported a claim insurance ratio of around 99.70%, which shows consistent performance across the plan.
HDFC Life Insurance plan offers 99.68%, which shows consistent performance across its service too.

Who Should Choose Which Insurance Company?

This is how you can choose the insurer when the coverage preferences match the plans:

Axis Max Life:

If you prefer an option to exit the plan early and get benefits after a certain period.
If you need support during financial difficulties, such as the option to continue coverage even if premiums are delayed.
If you prefer your family to receive the payout as regular income instead of only a lump sum.

HDFC Life:

If you want extra coverage during important life events like marriage or having a child.
If you prefer multiple payout options such as lump sum, monthly income, or both.

You want an NRI-friendly plan that protects your family in India.

Key Takeaway

Axis Max Life Insurance and HDFC Life Insurance provide stable term insurance plans in the market that are ideal solutions for protecting your loved ones financially. Axis Max Life Insurance delivers flexible and easy-to-access term plans, while HDFC is focused on a wider range of portfolios and services with customisation options.

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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