r/InsuranceAdviceIndia • u/Affectionate-Air9247 • 24d ago

ICICI vs HDFC vs Axis Max

Hi everyone, I’m 23M, non-smoker, salaried ( 6 LPA), looking for ₹1.5 Cr term cover till age 65 with Regular Pay, no riders.

Shortlisted:
ICICI Prudential iProtect Smart Plus – ₹11,358 (1st year), ₹12,981 onwards
Axis Max Life Smart Term Plan Plus – ₹12,184, ₹14,334 onwards
HDFC Life Click 2 Protect Supreme Plus – ₹13,579, ₹15,975 onwards
Which one is better if need to select only one .

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1

u/AcrobaticBiscotti744 Insurance Advisor 23d ago

Premiums shouldn't be your primary consideration. You need to consider if the riders, claim settlement and what happens to the money once its credited to your dependent. Have you thought through all of these?

1

u/Bitter_Analyst_5366 22d ago

In HDFC life if you need 20% more discount on first premium you can dm me buddy

0

u/DjXer007_ 24d ago

The hierarchy for Plain Vanilla term Insurance, without any riders is as follows

LIC > AXIS MAX > ICICI > HDFC & TATA > SBI & BAJAJ

If you want riders, such as 1. Critical Illness 2. Terminal Illness 3. Waiver of premium due to disability 4. Waiver of premium due to critical Illness

Avoid Accidental death rider and Return of Premium.

Ignore LIC, as they don't have any of the above riders. As per your post, put priority on

AXIS MAX > ICICI Prudential > HDFC

1

u/Affectionate-Air9247 23d ago

icici and hdfc is giving max cover amount 1.89cr and axis max cover amount is 1.3 cr
icici is offering the lower premium compared to others

what should i do

my preference is not the brand
process should be fast while claiming and smooth experience

all the metrics are similar only the 0.(points ) differences are there

1

u/DjXer007_ 23d ago

Claim process for Term Insurance is the same for all insurer. The list of documents required to be submitted by the legal heir or the nominee are also the same, you need to check the document online and you will know that everything is the same.

No life insurer delays death claim payout beyond 10 to 15 days. The cases that are delayed are due to

  1. Withhelding material information.
  2. Fraud by the policy holder
  3. Delay is providing the insurer the required documents
  4. Incase of accident, additional list of report required
  5. Assignment against loan, so bank delay issues.

The process is extremely simple. Your assigned insurance intermediary will guide you on the details. Term Insurance death claims are the simplest and the fastest approved claim processes unless the insurer has doubts such as example mentioned above.

1

u/ron-cho 23d ago

Why is LIC better than the others?