PNB MetLife vs Axis Max Life Insurance

DigiProtect Term Plan

Premium starts ₹927/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.8%

Average Claim Trend

99.53%

Check Now

Smart Term Plan Plus

Premium starts ₹970/month

Max Coverage Upto

85 yrs

Claim Settlement Ratio

99.8%

Average Claim Trend

99.73%

Check Now

₹1 Crore Life cover starting from ⁺

Lowest Price Guarantee ^˜

Male

Female

Name

Date of Birth (DD/MM/YYYY)

Mobile Number

Check Your Premium Now

By continuing you agree to receive assistance and agree to our Privacy Policy , Terms of use & +Disclaimer

PNB MetLife vs Axis Max Life Insurance

DigiProtect Term Plan

Check Premium

Smart Term Plan Plus

Check Premium

Add to compare

Compare PNB MetLife and Max Life Insurance to check which insurer offers the best term insurance plans in India 2026. This comprehensive comparison will include premium charges, claim settlement ratio, available plans, riders, solvency ratio, and suitability.

Which is Better - PNB MetLife or Axis Max Life?

Both are IRDAI-approved and provide reliable term insurance solutions. It depends on your insurance requirements.

Choose PNB MetLife: If you want plans that offer milestone-based benefit enhancements or spouse inclusion options, best for long-term family planning.
Choose Axis Max Life: If you want plans that allow policyholders to convert their policy benefits into a combination of lump-sum & regular income payouts for nominees.

Axis Max Life stands out as the better option if priority is given to fast service speed and a high probability of a successful claim, though at a slightly higher cost. PNB MetLife is one of the premier players in the market for "Value for Money" insurance, particularly as a whole-life insurance for existing patrons of PNB. The final decision depends on the personal goals of a person.

PNB MetLife vs Max Life - Comparison Table

The following table highlights the features of PNB MetLife and Max Life Insurance services as well as their eligibility criteria:

Features	PNB MetLife Insurance	Axis Max Life Insurance
Claim Settlement Ratio (FY 2024–25)	99.57%	9 9.70%
Solvency Ratio (FY 2024–25)	1.71	1.99
Entry Age (Term Plans)	18 – 60 years	18 – 65 years
Maturity Age	Up to 99 years	Up to 85 years (Whole Life options available)
Riders Available	Accidental Death Benefit Rider Accidental Disability Benefit Rider Critical Illness Rider	Max life critical illness and disability rider Max life pure risk premium health insurance rider Waiver of premium rider Accident cover
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

The following section will list out the term insurance plans provided by PNB MetLife and Max Life Insurance:

PNB MetLife Term Insurance Plans

PNB MetLife Mera Term Plan Plus: Suitable for individuals looking for comprehensive coverage up to 99 years with optional spouse inclusion and milestone-linked benefit enhancements.
PNB MetLife DigiProtect: Designed for online buyers seeking payout flexibility and temporary premium relief.
PNB MetLife Saral Jeevan Bima: Best for individuals seeking minimal documentation and limited income proof, especially first-time buyers.
PNB MetLife Aajeevan Suraksha Plan: Ideal for people seeking a simple plan with whole life protection and lower premium rates for women.

Axis Max Life Term Insurance Plans

Axis Max Life Smart Term Plan: Suitable for salaried professionals who want long policy tenures up to retirement age and the flexibility to switch between lump sum and income payout options.
Axis Max Smart Secure Plus Term Plan: Ideal for individuals seeking return of premium benefits along with optional critical illness cover.
Axis Max Life Smart Total Elite Protection Plan: Best for high-income earners who want enhanced life cover with add-on riders like accidental or critical illness benefits.
Axis Max Life Saral Jeevan Bima: Suitable for first-time buyers looking for basic life cover at low and standardised premiums.

Premium Comparison (Illustrative Example)

Presented below is a comparison, based on existing online term insurance calculators, which provides an indicative view of the monthly premiums for the following customer profile:

Age: 23 years
Gender: Male
Smoker: No
Sum Assured: ₹1 Crore
Policy Term: 60 years (Coverage till age 83)
Occupation Type: Salaried
Education: Graduate

Insurer	Approx. Monthly Premium
PNB MetLife Digi Protect term plan	₹594
Axis Max Smart Term Plan Plus	₹1195

*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 signifies the percent of claims settled by an insurance company over a particular year.

Max Life is considered to be a market leader with a Claim Settlement Ratio of 99.70% (FY 2024-25). This company is best known for the following offer: "InstaClaim" - Get your claim settled within 1 day.
PNB MetLife also posted good numbers for FY 2024-25 at 99.57%. They also give their customers the benefit of their 3-Hour Claim Decision service for timely and trustworthy service availability.

Who Should Choose Which Insurer?

Some general factors exist that may aid in determining which insurance provider best fits varying insurance needs:

Choose PNB MetLife if:

You want policies that allow policy continuation during short-term financial disruptions.
You prefer plans designed primarily for protection without multiple bundled policy benefits.
You want cost-efficient coverage focused on long-term family financial security.

Choose Axis Max Life if:

You prefer insurers with strong capital adequacy and high claim settlement ratios.
You want term plans offering return-of-premium variants for survival benefits.
You want access to multiple rider combinations for enhanced protection coverage.

Final Recommendation

In India, Max Life is generally the best bet for people who value service excellence and claim certainty, which may require shelling out an extra few hundred every month. PNB MetLife is the best bet for people who value true security and lower costs, as it is backed by bank guarantees. Comparing all the "Special Exit" features of Max Life with those of "Step Up" at PNB MetLife will help you make an informed decision.

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 Insurance Brokers Private Limited 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.

˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.