Axis Max Life Smart Term Plan Plus

Not only this, the plan also allows students to buy term insurance at early stage.

What are the Key Features of Axis Max Smart Term Plan Plus?

Here is a list of key features of this term insurance plan :

• Flexibility to choose from 8 variants of Axis MaxLife online term plan plus, based on your requirements.

• The Axis Max Life Smart Term Plan Plus offers an insta payment on claim intimation

• Benefit of cover continuance

• Inbuilt terminal illness available

• Whole Life Cover variant with life cover up to age 100

• Credit Protect Cover variant with a reducing sum assured to match a loan

• Special Exit Value to get all premiums back from the 25th policy year, free of cost

• Protection for your monthly income in case of your absence with variant of income protection cover plan.

• Flexibility to avail optional Accident Cover Option

• Exclusive key features for female policyholders such as Maternity Cover Option, Lifeline Plus, and a flat 15% premium discount.

What are the Variants Available Under Axis Max Smart Term Plan Plus?

*Maternity Cover Option is for female life insured only.

**Available at an additional premium.

Here is a detailed look at the plan options available with the Axis Max Life Smart Term Plan Plus:

Regular Cover:

Under this variant, the base sum assured selected at the time of policy purchase will remain the same throughout the policy tenure. On the death of the policyholder, the policy benefit will be paid, and the policy will terminate.

If you choose the Regular Cover variant with Limited Pay, you pay premiums for a shorter period, but your life cover lasts for the full policy term. For example, you can pay for 10 years and stay covered till age 70.

You can choose to pay for 5, 7, 10, 12 or 15 years, or until age 60. Each premium is higher than with Regular Pay, but you finish paying sooner, often before retirement. Your sum assured stays the same throughout the policy term, and the death benefit is paid if the life insured dies during the term.

Smart Cover:

With this option of Axis Smart Term Plan Plus, 150% of the base sum assured is payable in case of the policyholder’s death within the first 15 policy years. 100% of the base sum assured is payable in case of death after the first 15 policy years.

Return of Premium:

The base sum assured selected at the time of policy purchase will remain the same throughout the policy term. In case the policyholder passes away during this tenure, the guaranteed death benefit will be paid. On the survival of the policy tenure, the 100% of the total premiums paid will be returned, including underwriting extra premiums + loading due to modal premiums.

Income Protection Cover:

With this Axis Max Life Smart Term Plan Plus variant, on the death of the policyholder, the guaranteed death benefits will be paid as ‘monthly income applicable at the time of death’ commencing from the end of the policy month on or after the date of death intimation and continue each policy month till higher of the 120 months or the outstanding tenure in months. The policyholder will have the choice to opt for ‘level income’ or ‘inflation proof income’. The ‘monthly income applicable at the time of death’ will be based on the option chosen by the policyholder as per the below details:

• Level Income: ‘Monthly income applicable at the time of death’ is equal to the monthly income selected at the time of policy purchase

• Inflation proof Income: ‘Monthly income applicable at the time of death’ is equal to the monthly income selected at the policy inception is increased by 10% every 3 years (simple interest) from the date of issuance, capped at 200% of the monthly income selected at the time of purchase. On the death of the policyholder, there will be no increase in income under this variant.

Whole Life Cover

Under whole life cover variant of this Axis Max Term Insurance plan, if the life assured survives, 50 % of the total premium paid will be returned when the later of the following is reached:

• The policyholder reaches the age of 60, or

• The age at entry+premium payment term+10 years is completed

Any underwriting extra premium and modal premium loading, if applicable, will also be included in the amount returned. After this, the Life Insured will continue to have 50% of the Base Sum Assured as life cover until the end of the policy term.

The remaining 50% of the total premiums paid will be returned when the Life Insured reaches 100 years of age, after which the policy will terminate.

If the Life Insured dies during the policy term and before reaching age 100, the applicable Guaranteed Death Benefit will be paid, provided all due premiums have been paid.

Early ROP Plus

With Early ROP Plus variant of Axis Smart Term Plan Plus, the policyholder will get back 50% of the total premiums paid on the later of

• The policyholder reaches the age of 60, or

• The age at entry+premium payment term+10 years is completed

The amount refunded also includes any underwriting extra premium and modal premium loading, if applicable.

After this, the life cover continues at 50% of the Base Sum Assured until the end of the policy term. The remaining 50% of the total premiums paid is returned at the end of the policy term if the Life Insured survives. If the Life Insured dies during the policy term, the applicable Guaranteed Death Benefit is paid, provided all due premiums have been paid.

Credit Protect Cover

Under this plan variant, the base sum assured gradually reduces every month throughout the policy term. This variant also offers a reducing life cover based on the selected interest rate.

If the life assured dies during the policy term, the applicable guaranteed death benefit at the time of claim will be paid.

Classic Cover

Under this plan variant, the Base Sum Assured remains the same throughout the policy term. If the Life Assured dies during the policy term, the Guaranteed Death Benefit will be paid, and the policy will terminate thereafter. Terminal Illness Benefit is not available under this variant. The Classic Cover variant is also available for policies sourced as a POS product.

What are the Eligibility Conditions of Axis Max Smart Term Plan Plus?

Here are the eligibility conditions you need to meet before buying the Axis Max Life Smart Term Plan Plus:

You can use the term insurance premium calculator to check the premiums applicable for your profile.

For complete details on eligibility, benefits and exclusions, read the Smart Term Plan Plus brochure on Axis Max Life's official website.

What are the Benefits of Axis Max Life Smart Term Plus Plan?

• Death Benefit
  On the death of the life assured during the policy term, provided the policy is in force, the Guaranteed Death Benefit is paid. It is the highest of:

• The absolute amount assured to be paid on death

• 105% of the total premiums paid, plus underwriting extra premiums and loadings for modal premiums, as on the date of death

• For Single Pay: 1.25 times the single premium, plus any underwriting extra premium. For all other premium payment terms: 10 times the annualised premium, plus any underwriting extra premium

• Maturity Benefit
  Under the Return of Premium variant, 100% of the total premiums paid (plus underwriting extra premiums and loadings for modal premiums) is returned at the end of the policy term if the life insured survives. Under Early ROP Plus and Whole Life Cover, the remaining 50% of premiums is returned at the end of the policy term. Other variants have no maturity benefit. Premiums for the Maternity Cover Option, Accident Cover Option and riders are not returned, and taxes are excluded. If a discount was applied, only the discounted premiums are returned.

• Special Exit Value
  The special exit benefit allows you to receive a return of all the premiums, including the loadings and modal premiums. A policyholder can avail this benefit in any policy year starting from the 25th policy year, but not during the last 4 policy years

• Tax Benefits
  The Axis Max life online term plan plus offers term insurance tax benefits as per the prevailing tax laws under sections 80C and 10(10D) of the Income Tax Act, 1961.

• Surrender Value

  • Guaranteed Surrender Value
    The guaranteed surrender value is subject to the following criteria:

  • Single Pay: Immediately after the payment of a single premium

  • Limited Pay and Regular Pay: After the payment of two full year’s premiums

  • Guaranteed Surrender Value is defined as:
    GSV factor x (Total Premiums Paid plus underwriting extra premiums paid plus loading for modal premiums, if any)
    Special Surrender Value
    The plan will acquire special surrender value as per the following:

    • Single Pay: Immediately on the payment of the first premium

    • Limited Pay and Regular Pay: After the completion of the first policy year

What are the Additional Benefits of Axis Max Life Smart Term Plan Plus?

• Axis Max Life Term Insurance Smart Term Plan Plus offers exclusive Benefits for female such as

• Female policyholders can protect themselves against specific pregnancy-related complications, and their newborns against congenital anomalies.

• Offers the flexibility to opt for a top-up if the female policyholder’s spouse passes away, with premiums adjusted based on original rates, current age, and revised sum assured band.

• Female Life Discount: Women policyholders receive a flat 15% premium discount throughout the payment term, compared to male policyholders.

• Insta Payment on Claim Intimation: An accelerated benefit of the base sum assured will be payable within 1 working day from the claim registration date, given the mandatory documents are submitted, and the subsequent payout shall be made after the claim is approved.

• Health Management Services: The policyholder can opt for the Health Management Services such as second medical opinions, medical consultations, discounts on medicines from the service provider registered with the insurance company.

• Cover Continuance Benefit: You can defer a due premium by up to 12 months while keeping full cover, including optional covers and riders. This option is available after 3 policy years, provided all due premiums have been paid and the policy is in force

• Reduced Paid-Up Value: This feature is available in Return of Premium variant, early ROP Plus, & Whole Life Cover variants, and once the policy has acquired a surrender value, the policy will, by default, turn into a reduced paid-up in case of non-payment of premiums.

• Higher Sum Assured Discounts: Axis Max STPP offers built-in discounts for higher sum assured.

• Smoker/Non-smoker Premiums: The Axis Max Life Smart Term Plan Plus offers lower premiums for non-smoking customers.

• Claim Payout Options: With Axis Max Life Term Insurance Smart Term Plan Plus, the nominee can choose the most suitable claim payout mode from: monthly income, lump sum, or part lump sum and part monthly income options.

Axis Max Life Smart Term Plan Plus Premium by Age

Monthly premiums of Axis Max STPP for ₹1 crore cover till age 70, for a non-smoking male earning ₹8–10 lakh a year:

First-year premiums include a 15% discount. Premiums are shown on Policybazaar on 06-10-2026 and may change as per your age, health status, location and other factors. Use the term insurance premium calculator to get an exact quote.

What are the Optional Benefits and Riders Available with Axis Max Life Smart Term Plan Plus?

Here is a list of term insurance riders and optional benefits available with the Axis Max Life Smart Term Plan Plus

Maternity Cover Option (female life insured only): Covers certain pregnancy-related complications for the mother and congenital anomalies for the newborn, at an additional premium. It is available only as a 5-year premium payment and 5-year policy term, has a 10-month waiting period, and cannot be bought during pregnancy.

Accident Cover Option: Additional cover against accidental death, at an additional premium.

Terminal Illness Benefit: Upon diagnosis of a terminal illness, 100% of the guaranteed death benefit (a maximum of 1 crore sum assured) will be paid accelerated to the policyholder. If the sum assured is more than 1 crore, the remaining amount will be paid as a reduced sum assured to the nominee on the policyholder’s death.

Axis Max Life Waiver of Premium Plus Rider: Waives all future premiums under the policy and attached riders on:

• Critical illness

• Dismemberment

• Death of the policyholder, only when the policyholder and life insured are different people

Axis Max Life Critical Illness and Disability Rider: Pays on diagnosis of a covered critical illness or total and permanent disability. It covers up to 64 critical illnesses in the Platinum and Platinum Plus variants. The rider term cannot exceed the base policy term.

Axis Max Life Accidental Death and Dismemberment Rider: Pays a lump sum if the life insured dies, or suffers covered impairments, within 180 days of an accident and before the rider term ends

Axis Max Life Smart Term Plan Plus - Student Special Benefits

• The company provides eligible students the opportunity to obtain term insurance for students at an early age, letting them start their life cover when they are still studying and before they begin full-time employment.

• Besides, it also provides life cover of up to ₹2 crore to eligible students which ensures better cover for them during their education.

• This Axis Max Term Insurance plan can also prove to be useful for students who have education loans or other financial responsibilities as the life cover can help their families in managing the outstanding financial liabilities in case of the death of the student.

Common Questions About Axis Max Life Smart Term Plan Plus

What are the lowest-cost term insurance options for high coverage amounts?

One of the lowest-cost term insurance options for high coverage amounts is Axis Max Life Smart Term Plan Plus. The plan also offers extra discounts for higher sum assured, non-smoker customers, and female customers for extra savings.

Does Axis Max Life Smart Term Plan Plus offer a waiver of premium?
Yes, through the Axis Max Life Term Insurance Smart Term Plan Plus Waiver of Premium Plus Rider, at an additional premium. It waives all future premiums on critical illness, dismemberment, or death of the policyholder when the policyholder and the life insured are different people.

Which term insurance plans cover accidental death benefits?

Axis Max Smart Term Plan Plus provides a 100% lump sum rider sum assured in case of the policyholder’s accidental death during the policy term.

Can I get my premiums back with Axis Max Life Smart Term Plan Plus?

Yes. Return of Premium refunds 100% of premiums at maturity. Early ROP Plus and Whole Life Cover refund 50% from age 60 or later and the rest at the end of the term. On Regular, Smart, Income Protection and Classic Cover, Special Exit Value refunds all premiums from the 25th policy year if the policy term is 30 years or more.

Which term insurance policies require no medical examination?

Several term insurance plans require no medical examinations. You can take a look at the policy documents when comparing term plans to find the one that fits your needs.

Which term insurance policies cover terminal illness?

Axis Max STPP offers an in-built cover against terminal illness. Thus, the policyholder does not have to pay any additional premiums for this cover, and in case of a terminal illness diagnosis, the benefit will be paid as per the policy T&Cs.

Which term insurance plans are best for young families?

Young families need cover that replaces income through the children's growing years. Axis Max Life Smart Term Plan Plus offers three suitable variants:

• Income Protection Cover: pays a monthly income for at least 120 months, with an inflation-proof option.

• Smart Cover: pays 150% of the sum assured if death occurs in the first 15 policy years.

• Credit Protect Cover: reduces cover in line with a home loan.

Women also get a 15% premium discount and can add Maternity Cover.

What are the top-rated term insurance plans right now?

The top-rated term insurance plans depend on your individual needs and requirements. You can check and compare the available plans based on their premiums, CSR, solvency ratio, customer reviews, benefits offered and features online and find the best term insurance plan for yourself.

What are the Exclusions of the Axis Max Life Smart Term Plan Plus?

The Axis Max Life Smart Term Plan Plus does not cover death due to suicide within the first 12 months of the policy inception or revival. In such cases, provided the policy is in force, the nominee or beneficiary of the policyholder shall be entitled to:

Higher of surrender value available as on date of death or total premiums paid plus underwriting extra premiums paid plus loadings for modal premiums paid exclusive of all applicable taxes, cesses and levies till the date of death.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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