Max Life Insurance
- Discount on online purchases
- 64 critical illnesses cover
- Premium waiver on disability
Max Life Insurance Company is a joint venture between Max Financial Services and Axis Bank. The company provides comprehensive protection and long-term savings life insurance plans such as term insurance plans, retirement plans, unit-linked insurance plans (ULIPs), NRI plans, child insurance plans, and group life insurance plans.
Max Life Insurance Company ensures to look after your insurance needs by offering:
Affordable premiums
Flexible policy tenures
Wide range of insurance solutions
Choice of premium payment frequency
Tax savings
To get more insight into Max Life Insurance Company's performance, take a look at the below key highlights that will help you to analyze the company based on its performance:
Max Life Insurance has a Solvency Ratio of 1.9 as per the IRDAI annual report 2022-23. The solvency ratio helps the prospective policyholder assess the ability of a company to meet its financial obligations. As of now, IRDAI mandates maintaining a solvency ratio of 1.50 for every insurer.
Max Life Insurance Plans
There are multiple benefits of Max Life Insurance Plans. Read below to understand the plethora of advantages provided by the insurer.
You can choose the sum assured of your Max Life insurance plan as per your future financial needs and number of dependents at pocket-friendly costs.
Max Life insurance plans offer multiple premium payment options such as: monthly, quarterly, half-yearly, and yearly.
Max Life Insurance Company offers various plans including term insurance plans, ULIP plans, retirement plans, and child plans. You can choose the one that best suits your needs.
You can purchase Max Life plans hassle-free through PolicyX.com or their nearest branch offices.
You can choose rider options with Max Life Insurance to enhance the overall coverage of your base plan.
Here are the rider options you can avail with Max Life Insurance Plans to enhance your coverage:
Additional benefits are paid in case of the policyholder’s demise or disability due to an accident.
If the policyholder faces serious illness then future premiums are waived off if you have chosen this rider.
A lump sum amount on diagnosis of any of the listed 64 critical illnesses.
Here is the list of documents required to buy the Max Allianz Life Insurance Policy:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Max Life Insurance allows you to buy life insurance plans via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below is a detailed explanation of both these types of buying processes.
Fill out the form given at the top of this page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, and riders (if required), and then proceed to make the payment. Once the payment is made, you will get a payment confirmation at your registered email address.
Visit the official website of Max Life Insurance Company.
From the top of the page choose the type of plan you want to buy- Term plan/ Investment plan/ ULIPs, etc.
A new window will open. Enter your basic details including name, contact number, email address, occupation, residence details, etc
It will show you the premium amount based on the provided details.
Once the payment is made, you will get a payment confirmation at your registered email address.
Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at Max Life Insurance involves the following steps:
Inform the company about the incident via various channels. You can write an email to Max Life Insurance at claims.support@maxlifeinsurance.com. Call the toll-free number (1860 120 5577), fill out the online claim form on its website, or visit the nearest branch. A claim reference number/intimation number will be provided to you upon successfully registering the claim.
You will be requested to submit the following documents to process the claim.
In case of natural death: death claim form, death certificate issued by the local municipality, original policy documents, claimant's identity & residence Proof, medical records, and account details of the nominee.
In case of an accidental death: the same documents with an FIR and post-mortem report.
After receiving all the documents and claim forms, the insurer will verify the details. If they require any additional details they will contact you via call or email. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the same will be communicated to him/her over a call or an email.
Max Life Insurance Company's claim settlement procedure can be initiated by visiting the local Max Life Branch Office. For the details of Max Life Insurance branches, you can visit their website and locate the nearest branch. You have to submit the above-mentioned documents in hardcopy at your nearest branch to file the claim.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.
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