Max Life vs Bharti AXA
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Max Life vs Bharti AXA Life Insurance 2024

Max Life and Bharti AXA both are one of the top life insurance providers in India. Both the companies offer comprehensive life insurance plans offering life cover from 10 to 99 years of age. The product portfolio of both of them is vast and caters to unique needs of the customers. The claim settlement ratio of Max Life is 99.34% whereas Bharti AXA has 99.09% CSR for the FY 2022-23. The companies provide benefits such as high sum assured, flexible premiums, customizable coverage, rider benefits, options for premium payment terms, maturity benefits, online discounts, non-smoker discounts and various plan options to choose from.

PLAN DETAILS Edit Max Life

Max Life

 Edit bharti-axa-life

Bharti AXA
Number of life insurance plans and add-ons
Entry Age (Min-Max) 18-65 years 18-65 years
Policy Term 10 - 75 years 5 - 50 years
maturity Age (Min-Max) 18 to 75 years 25-70 years
Claim settlement ratio (CSR) 99.34% 99.09%
Asset under managment (AUM) 122857 Crores 143020 Crores
Solvency ratio 2 1.7
Policy Type
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
  • Term insurance
  • Whole life policy
  • Endowment policy
  • ULIP
  • Money back policy
  • Retirement plans
  • Savings plans
  • Child plans
  • Group Insurance plan
Coverage Amount
  • Minimum- 10 Lakh
  • Maximum- No Limit
  • Minimum- 5 Lakh
  • Maximum- No Limit
Optional Additional Riders
  • Critical illness riders
  • Accidental death and disability benefit rider
  • Group accidental death benefit rider
  • Linked complete shield rider
  • non-linked complete shield rider
  • Term rider
  • Premium waiver rider
  • Hospi cash benefit rider
  • Group accidental death benefit rider
  • Critical illness riders
  • Accidental death and disability benefit rider
  • Group accidental death benefit rider
  • Linked complete shield rider
  • non-linked complete shield rider
  • Term rider
  • Premium waiver rider
  • Hospi cash benefit rider
  • Group accidental death benefit rider
Number of term plans 21 4
Exclusions Suicide or self inflicted Injury Suicide or self inflicted Injury
Death Benefit Yes Yes
Survival Benefit Yes Yes
Claims procedure Both (Online+offline) Both (Online+offline)
Type of the insurer Private Private
Online buying facility for life plans Yes Yes
Premium payment options Single/limited/Regular Single/limited/Regular
Online claim facility Yes Yes

Life Insurance Companies

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Max Life Term Insurance Plans

Max Life Smart Secure Plus Plan

Offers financial security and a support system to the policyholder in an emergency. Provides a 5% increment in SA after every anniversary of the policy.

Unique Features

  • Life Stage Option
  • Multiple Coverage Options
  • Increasing Death Benefit

Smart Secure Plus Plan (Pros)

  • Terminal Illness Benefit
  • Smart Exit Benefit
  • Acceleration Death Benefit

Smart Secure Plus Plan (Cons)

  • 1 Year WP for Suicide
  • No Policy Loans
  • No Pre-existing Conditions

Smart Secure Plus Plan (Other Benefits)

  • Death Benefit in Instalments
  • RP, WOP & 3 Riders
  • Additional Cover for Spouse

Smart Secure Plus Plan (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 84 years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - 85 years
  • Premium Payment Term - RP/SP/LP

Term Plan with Return of Premium (TROP)

A simple term plan that provides a death benefit and life cover. Being a TROP it provides maturity benefits and gives you your premiums back.

Unique Benefits

  • Life Stage Option
  • Multiple Coverage Options
  • Increasing Death Benefit

Term Plan with Return of Premium (Pros)

  • Terminal Illness Benefit
  • Smart Exit Benefit
  • Acceleration Death Benefit

Term Plan with Return of Premium (Cons)

  • 1 Year WP for Suicide
  • No Policy Loans
  • No Pre-existing Conditions

Term Plan with Return of Premium (Other Benefits)

  • Death Benefit in Instalments
  • RP, WOP & 3 Riders
  • Additional Cover for Spouse

Term Plan with Return of Premium (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 84 years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - 85 years
  • Premium Payment Term - RP/SP/LP

Max Life Saral Jeevan Bima

A simple, uncomplicated pure protection term plan that protects you and your family against fixed premiums.

Unique Benefits

  • Flexible premium payments
  • Long-term coverage
  • Least restrictions

Saral Jeevan Bima (Pros)

  • 105% Death Benefit
  • Choose to pay Premium Once
  • Max Sum Assured 25 L

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover After 12 Months
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 65 years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Max Life Smart Term Plan

A high sum assured term plan that offers two death benefits namely Life Cover or Increasing Life Cover.

Unique Features

  • Different payout options available
  • Terminal illness cover
  • Maturity benefit available

Smart Term Plan (Pros)

  • Income Protector
  • Rider Options
  • Premium Return (ROP)

Smart Term Plan (Cons)

  • Limited Maturity Benefit
  • Plan Complexity
  • No Loan Benefit

Smart Term Plan (Other Benefits)

  • Enhance Cover at Milestones
  • Accelerated Critical Illness Benefit
  • Accident Cover

Smart Term Plan (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - Adaptable
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP

Premium Return Protection Plan

A plan that provides life insurance with ROP at policy maturity, offering limited premium payment terms and flexible protection period choices.

Unique Features

  • Limited PPT (11 years)
  • RoP at Maturity
  • Flexibility in the Policy Period

Premium Return Protection (Pros)

  • Coverage with Premium Return
  • Short Premium Payment Duration
  • Maturity Benefit with Premium Return

Premium Return Protection (Cons)

  • No Additional Investment Benefits
  • Higher Premiums
  • Limited to Premium Return at Maturity

Premium Return Protection (Other Benefits)

  • Lifetime Coverage up to Age 75
  • Max Sum Assured is 1 Cr
  • Choice of Protection Periods (20/25/30 years)

Premium Return Protection (Eligibility Criteria)

  • Entry Age - 21 Years
  • Max Entry Age - 55 years
  • Minimum Sum Assured - NA
  • Maximum Maturity Age - 75 Yrs
  • Premium Payment Term - 20/25/30 Years

Max Life Online Term Plan Plus

A pure risk premium life insurance plan offering comprehensive protection for individuals, including death benefit options and additional riders.

Unique Features

  • Customizable Death Benefit
  • Accelerated CI Benefits
  • Life Stage Event Benefit

Online Term Plan Plus (Pros)

  • Max SA Is 100 Crore
  • Additional Riders Benefit
  • Flexible Premium Payment Options

Online Term Plan Plus (Cons)

  • No Maturity Benefit
  • No Surrender Benefit
  • No Policy Loan Allowed

Online Term Plan Plus (Other Benefits)

  • Discount for Non-Smokers
  • No Restrictions on Travel
  • High SA Discounts & Waiver of Premium

Online Term Plan Plus (Eligibility Criteria)

  • Entry Age - 18 Years
  • Max Entry Age - 60 years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - RP

Bharti AXA Term Insurance Plans

Bharti AXA Flexi Term Pro

The plan offers a lump sum or monthly income to the family upon the policyholder's demise, with guaranteed payouts of up to 150% and tax benefits.

Unique Features

  • 100% to 150% of total premium
  • Death Benefits
  • Special Surrender Benefit

Flexi Term Pro (Pros)

  • Maturity Benefit
  • Loans Are Allowed
  • Guaranteed Monthly Income

Flexi Term Pro (Cons)

  • 1 Yr WP For Suicide
  • Unpaid Policy Lapses
  • Limited Revival Period

Flexi Term Pro (Other Benefits)

  • Easy Enrollment
  • Life Cover For Policy Term
  • Flexible-Premium Payment Modes

Flexi Term Pro (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - NA
  • Maximum Maturity Age - 75 Years
  • Premium Payment Term - 5 To 20 Yrs

Bharti AXA Saral Jeevan Bima

Non-Linked Non-Participating term insurance plan with a double sum assured on death due to accident and tax benefits.

Unique Features

  • Flexible policy term
  • Rider benefit
  • Discounts for women

Saral Jeevan Bima (Pros)

  • Available for Online Buying
  • Choose to pay Premium Once
  • Max Sum Assured 50L

Saral Jeevan Bima (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Saral Jeevan Bima (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

Saral Jeevan Bima (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Bharti AXA Flexi Term Plan

An individual pure risk premium plan that covers critical illness at the age of 75 and comes with2 cover options.

Unique Features

  • 75 CI covered
  • Comprehensive cover
  • Major illness cover

Flexi Term Plan (Pros)

  • Cancer of Specified Severity Cover
  • Flexibility for Coverage Period
  • 105 % Death Benefit

Flexi Term Plan (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

Flexi Term Plan (Other Benefits)

  • Suicide Cover
  • Waiver of Premium on CI
  • Multiple Death Benefit Payout Options

Flexi Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 10L
  • Maximum Maturity Age - 85 Yrs
  • Premium Payment Term - Fixed (5 & 20 Yrs)

Bharti AXA Grameen Jeevan Bima Yojana

Non-Linked Non-Participating Life Term Micro Insurance Plan. It offers flexibility to opt 2 plan options and tax benefits.

Unique Features

  • Pure protection plan
  • Protection with ROP
  • Tax benefits

Grameen Jeevan Bima Yojana (Pros)

  • Loans Are Allowed
  • Surrender Benefit
  • Rider Benefit

Grameen Jeevan Bima Yojana (Cons)

  • No HIV Cover
  • No Discount Available
  • 1 Yr Waiting Period For Suicide

Grameen Jeevan Bima Yojana (Other Benefits)

  • Death Benefit
  • Max Sum Assured 2L
  • Policy Can Be Bought Online

Grameen Jeevan Bima Yojana (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 10K
  • Maximum Maturity Age - 65 Yrs
  • Premium Payment Term - RP/SP

Bharti AXA eProtect Term Plan

An affordable online term insurance plan that ensures protection for your loved ones with an inbuilt family care benefit feature and covers up to 75 years of age.

Unique Features

  • Life Insurance Benefit
  • Family Care Benefit
  • Reward for Non-Smokers

eProtect Term Plan (Pros)

  • Premium Discounts Available
  • Quick Family Care Payout
  • Cost Effective Payout

eProtect Term Plan (Cons)

  • 1 Yr WP For Suicide
  • Unpaid Policy Lapses
  • No Maturity Benefit

eProtect Term Plan (Other Benefits)

  • Online Purchasing Of Policy
  • Easy Revival
  • Flexible-Premium Payment Modes

eProtect Term Plan (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 25 L
  • Maximum Maturity Age - 75 Years
  • Premium Payment Term - 10 To 75 Yrs

Bharti AXA POS Saral Jeevan Bima Yojana

Non-Linked Non-Participating term insurance policy provides double the sum assured on death due to an accident.

Unique Features

  • Flexible policy term
  • No medical test required
  • Tax benefits

POS Saral Jeevan Bima Yojana (Pros)

  • Available for Online Buying
  • Choose to pay Premium Once
  • Max Sum Assured 50L

POS Saral Jeevan Bima Yojana (Cons)

  • No Survival Benefit
  • No Maturity Benefit
  • No Surrender Benefit

POS Saral Jeevan Bima Yojana (Other Benefits)

  • Suicide Cover
  • Spouse Cover
  • Policy Revival Within 5 Years

POS Saral Jeevan Bima Yojana (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - NA
  • Premium Payment Term - RP/SP/LP(5&10 Years)

Bharti Axa Life Suraksha

A comprehensive term insurance plan that provides whole life cover, flexible premium payment options, with joint and single life coverage at reasonable prices.

Unique Features

  • 100% Death Benefit
  • Two Plan Options
  • Special Exit Value

Life Suraksha (Pros)

  • Surrender Benefit
  • Maturity Benefit with ROP
  • Lower Rates for Non-Smokers

Life Suraksha (Cons)

  • No Policy Loan Allowed
  • Excludes Suicide Within 1 Year
  • Limited Revival Window After Policy Lapse

Life Suraksha (Other Benefits)

  • Suicide Cover
  • Paid-Up Benefit
  • Discounts for Females

Life Suraksha (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 65 Years
  • Minimum Sum Assured - 5 L
  • Maximum Maturity Age - 99 Years
  • Premium Payment Term - 5 To 85 Yrs

Bharti AXA Group Suraksha

A group term plan designed for co-operatives, institutions, and NGOs, offering life insurance coverage to members' families in case of unfortunate death.

Unique Features

  • Death Benefit
  • Size of Group 15
  • Lower Rates for Non-Smokers

Group Suraksha (Pros)

  • Surrender Benefit
  • No Requirement For Medical
  • Flexible-Premium Payment Mode

Group Suraksha (Cons)

  • No Policy Loan
  • No Survival Benefit
  • Max SA is 25 K

Group Suraksha (Other Benefits)

  • Suicide Cover
  • Paid-Up Benefit
  • Affordable Premiums

Group Suraksha (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 54 Years
  • Minimum Sum Assured - Rs 5000
  • Maximum Maturity Age - 55 Years
  • Premium Payment Term - Adaptable

Bharti AXA POS Saral Bachat Yojna

This is a simple insurance policy with low premiums, offering Maturity and Death Benefits, along with tax advantages.

Unique Features

  • Death Benefit
  • Loan Benefit
  • Flexible-Premium Payment Terms

POS Saral Bachat Yojna (Pros)

  • Maximum SA 10 L
  • Surrender Benefit
  • Maturity Age of Policy 60 Yrs

POS Saral Bachat Yojna (Cons)

  • No ROP
  • No Rider Benefit
  • No Bonus Available

POS Saral Bachat Yojna (Other Benefits)

  • Surrender Benefit
  • Maturity Benefit
  • Suicide benefit

POS Saral Bachat Yojna (Eligibility Criteria)

  • Entry Age -18 Years
  • Max Entry Age- 55 Years
  • Minimum Sum Assured - Rs 15000
  • Maximum Maturity Age - 60 Years
  • Premium Payment Term - 6, 8, 10 & 12 Yrs

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Naval Goel

Reviewed By: Naval Goel

Naval Goel is the CEO & founder of PolicyX.com. Naval has an expertise in the insurance sector and has professional experience of more than a decade in the Industry and has worked in companies like AIG, New York doing valuation of insurance subsidiaries. He is also an Associate Member of the Indian Institute of Insurance, Pune. He has been authorized by IRDAI to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.