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  • Max Life Insurance

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    A joint venture between Mitsui Sumitomo Insurance Company Limited and Max Financial Services Limited, Max Life Insurance is one of the leading insurance providers in the country. Mitsui Sumitomo Insurance Company Limited is part of MS&AD Insurance Group – one of the world’s leading insurance providers, and Max Financial Services Limited is a member of Max Group – one of India’s biggest multi-business corporations. Max Life Insurance provides customer with a number of options when it comes to offering comprehensive retirement, protection and long-term savings solutions.


    Key Highlights of Max Life Insurance

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     Max Life Insurance 1 Cr Life cover plan

    1 Crore Life Cover

    Get 1 Cr Life cover @ ₹ 21*/day

    Claim-settlement ratio for Max Life Insurance

    Claim Settlement Ratio

    Claim-settlement ratio of 98.26% for year 2016-2017

    Occupation eligibility for Max Life Insurance

    Grievances Resolved

    100.00% Grievances Settled for year 2016-2017


    To be eligible for Max Life Insurance

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    Minimum age for Max Life Insurance

    You should be at least 18 years old

    Maximum age for Max Life Insurance

    You should be less than 60 years old

    Occupation eligibility for Max Life Insurance

    You should be either Salaried, Self- employed, a professional or have your own business


    Max Life Insurance at a Glance

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    Maximum tenure of Max Life Insurance

    A maximum tenure of 35 years

    Maximum sum assured for Max Life Insurance

    Min Sum Assured: Rs 25 Lakhs
    Max Sum Assured: No limit subject to underwriting

    Exclusions for Max Life Insurance

    Specific exclusions: Suicide within the first 12 months


    Add-on covers for Max Life Insurance

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    Max Life Comprehensive Accident Benefit Rider for Max Life Insurance

    Max Life Comprehensive Accident Benefit Rider

    Max Life Comprehensive Accident Benefit Rider to your life insurance policy to provide additional protection against an unfortunate accident.

    Monthly Income Term Plan for Max Life Insurance

    Monthly Income Term Plan

    This offers you twin benefits of Sum Assured on death as well as level income every month for 10 years.

    Increasing Monthly Income Term Plan for Max Life Insurance

    Increasing Monthly Income Term Plan

    In addition to Sum Assured payable on death, it provides monthly income for 10 years, that increases at 10% simple rate of interest every year of the first year monthly income.

    *These add-ons may be included as part of different products and are subject to the insurer's terms & conditions.

    Documentation needed to apply for an Max Life Insurance

    • 1. Identity Proof
    • 2. Age Proof
    • 3. Income Proof
    • 4. Address Proof
    • 5. PAN Number

    Benefits of Max Life Insurance:

    Max Life Insurance not only offers a variety of plans and policies that can help in meeting the financial requirements of an extensive customer base, but it also has a quality distribution system in addition to multi-channel distribution partners. Over the past 15 years or so, Max Life has developed a strong reputation and gained stability as proven by a sturdy track record in recent years. The company has tied up with a number of industry experts, and, as a result, customers can avail superior investment advice.

    The company hopes to become the most admired life insurance company by securing the financial future of its customers. Also helping the company’s cause towards achieving its goals is its strong customer-centric approach that concentrates on providing quality service and advice-based sales which it hopes to deliver via its extraordinary human capital.

    Different Types of Life Insurance Policies Offered by Max Life:

    Max Life has a large portfolio with a number of different plans that cater to an extensive customer base. Regardless of what features and benefits you may be looking for, Max Life has all the solutions you need. Following are the various Life insurance plans offered by Max Life.

    Online Insurance Plans
    • Max Life Online Term Plan Plus
    • Max Life Cancer Insurance Plan
    Child Insurance Plans
    • Max Life Future Genius Education Plan
    • Max Life Shiksha Plus Super
    Savings and Income Plan
    • Max Life Monthly Income Advantage Plan
    • Max Life Assured Wealth Plan
    • Max Life Guaranteed Income Plan
    • Max Life Whole Life Super
    • Max Life Life Gain Premier
    • Max Life POS Guaranteed Benefit Plan
    Term Insurance Plans
    • Max Life Super Term Plan
    • Max Life Premium Return Protection Plan
    • Max Life Online Term Plan Plus
    Retirement Plans
    • Max Life Forever Young Pension Plan
    • Max Life Guaranteed Lifetime Income Plan
    • Max Life Perfect Partner Super
    Group Insurance Plans
    • Max Life Group Credit Life Premier
    • Max Life Group Gratuity Premier Plan
    • Max Life Group Super Life Premier in Lieu of EDLI
    • Max Life Group Super Life Premier
    • Max Life Pradhan Mantri Jeevan Jyoti Beema Yojana
    • Max Life Group Credit Life Secure
    Health Insurance Plans
    • Max Life Cancer Insurance Plan
    ULIP Plans
    • Max Life Fast Track Super Plan
    • Max Life Platinum Wealth Plan

    Online Insurance Plans:

    There are two types of online insurance policies that Max Life Insurance currently offer. They are:

    • Online Term Insurance Plan

    • Cancer Insurance Plan

    With the help of Max Life Online Term insurance plans, you can protect your family from any unforeseen events such as death or terminal illness. Term insurance plans provide sufficient and comprehensive coverage from major life risks and also provide the option of enhancing the existing cover with add-on benefits like critical illness rider.

    Cancer insurance plan, like the name suggests, provides coverage against all types of cancer, irrespective of which stage it is in.

    Child Insurance Plans:

    Child insurance plans offered by Max Life Insurance essentially provide the components of both insurance and investment. At the end of each policy term, the child receives a lump-sum amount as life cover from Max Life Insurance. On top of that, these plans also provide payout benefits at regular intervals, to financially secure the important milestones of your child’s life. The plans also provide substantial financial coverage against unfortunate events such as terminal illness or death.

    Different Types of Child Insurance Plans Offered by Max Life Insurance:
    Type of the Plan Minimum and Maximum Age of Entry Basic sum assured Premium payment term (PPT) Policy term
    Max Life Future Genius Education Plan
    • Minimum age of entry - 21 years as of the life insured’s last birthday
    • Maximum age of entry - 45 years as of the life insured’s last birthday
    Minimum sum assured:
    • For 8 pay variant - Rs.3.27 lakh
    • For limited pay variant - Rs.2.12 lakh (this number will be subject to minimum premium limitations)
    The plan offers two premium payment term alternatives:
    • For 8 pay variant - 8 years’ PPT
    • For limited pay variant - the PPT will be 3 years less than the policy term
    The policyholder will have the option to choose a policy term from 13 years to 21 years
    Max Life Shiksha Plus Super
    • Minimum age of entry - 21 years as of the last birthday
    • Maximum age of entry - 50 years as of the last birthday
    • Additionally, the life insured (who is also the policyholder) will also be required to have a child aged 0-18 years
    Minimum sum assured:
    • For 5-pay policies - Rs.5 lakh
    • For regular pay policies - Rs.2.50 lakh (if premium payment mode is annual) and Rs.4.80 lakh (if premium payment mode is non-annual)
    • For 5-pay variants - the premium payment term (PPT) will be 10 years
    • For regular pay variants - the premium payment term will range between 15 years and 25 years
    The available policy terms one can choose from are 10 years, 15 years, to 25 years

    Savings and Income Plans:

    The savings plans offered under Max Life Insurance essentially help people develop a disciplined saving habit, and they also provide guaranteed returns, either as monthly income or as a lump-sum payout. The steady flow of returns depends on the need and the policy chosen by the respective individuals. Furthermore, these plans are also beneficial as they provide death benefits, rider benefits (like terminal illness benefits), tax benefits, and so on. These plans are most suitable for people who are the sole breadwinners of their families and want to ensure financial security for them.

    The different types of savings and investment plans offered by Max Life Insurance are mentioned below:

    Type of the Plan Minimum and Maximum Age of Entry Basic Sum Assured Premium Payment Term (PPT) Policy Term
    Max Life Monthly Income Advantage Plan Minimum age of entry - 18 years as on the last birthday Maximum age of entry:
    • For a 12-pay variant, the maximum age of entry will be 55 years
    • For a 15-pay variant, the maximum age of entry will be 50 years
    Minimum sum assured:
    • For a 12-pay variant - minimum sum assured = Rs.3.24 lakh
    • For a 15-pay variant - minimum sum assured = Rs.4.05 lakh
    Maximum sum assured - No limitations (subject to underwriting policy of the company)
    The available premium payment terms one can choose from are 12 years and 15 years The available policy terms one can choose from are:
    • For 12-pay variant, policy term = 22 years (a year added to the premium payment term)
    • For 15-pay variant, policy term = 25 years (a year added to the premium payment term)
    Max Life Assured Wealth Plan
    • Minimum age of entry - 8 years as of the last birthday of the life insured
    • Maximum age of entry - 55 years as of the last birthday of the life insured
    • Guaranteed minimum sum assured on maturity of the policy = Rs.1.97 lakh
    • Guaranteed maximum sum assured on maturity = subject to underwriting policy of the company
    The available premium payment term (PPT) is 5 years The available policy term under the plan is 10 years
    Max Life Guaranteed Income Plan Minimum entry age - 25 years as of last birthday of the life insured Maximum entry age:
    • 60 years
    • 55 years
    The Guaranteed Sum Assured on Maturity (GSAM) is paid by the company to the policyholder upon completion of the policy term The available premium payment terms one can choose from are 6 years and 12 years The available policy terms one can choose from are 6 years and 12 years (same as PPT)
    Max Life Whole Life Super
    • Minimum entry age - 18 years as of last birthday of the policyholder
    • Maximum entry age - 50 years as of last birthday of the policyholder
    • Minimum guaranteed sum assured on maturity (GSAM) = Rs.50,000
    • Maximum guaranteed sum assured on maturity (GSAM) = No limitations (also subject to underwriting policies of the company)
    The available premium payment terms one can choose from are 10 years, 15 years, or 20 years The policy is a whole life policy, which means it will be valid until 100 years of age of the life insured
    Max Life Life Gain Premier Minimum age of entry - 18 years as of last birthday of the policyholder Maximum age of entry:
    • For a 15/20-year policy term, maximum entry age = 55 years
    • For a 25-year policy term, maximum entry age = 50 years as of last birthday of the policyholder
    The policyholder (or the life insured) will be entitled to a Guaranteed Sum Assured on Maturity (GSAM) at the end of the policy term
    • For a 15-year policy term, PPT = either 6 or 8 years
    • For a 20-year policy term, PPT = either 6, or 8, or 10 years
    • For a 25-year policy term, PPT = 12 years
    The available policy terms that one can choose from are 15, 20, and 25 years
    Max Life POS Guaranteed Benefit Plan
    • Minimum age of entry - 18 years as of last birthday of the life insured
    • Maximum age of entry - 50 years as of last birthday of the life insured
    Guaranteed sum assured on maturity:
    • Minimum GSAM = Rs.92,285
    • Maximum GSAM = Rs.6.95 lakh
    The available premium payment term under the policy is 5 years The available policy term under the plan is 10 years

    Term Insurance Plans:

    Term insurance policies are considered to be pure protection plans as they do not incorporate the investment element. Term plans are effectively simple to understand, demand cheaper premiums, and also provide financial security to the family of the policyholder in case of his/her absence. Term plans offer life cover that an individual is free to choose, depending on the financial needs of his/her family. There is no lump-sum amount involved as term plans are predominantly insurance plans, however, if the policyholder passes away while the policy is still in force, the insurer provides a lump-sum payout to the family to tide over financial losses.

    The different types of term insurance plans offered by Max Life Insurance are mentioned below:

    Type of the Plan Minimum and Maximum Age of Entry Basic Sum Assured Premium Payment Term (PPT) Policy Term
    Max Life Super Term Plan
    • Minimum age of entry - 18 years as of last birthday of the life insured
    • Maximum age of entry - 65 years as of last birthday of the life insured
    • Minimum guaranteed sum assured - Rs.25 lakh (this amount is subject to minimum premium limitations)
    • Maximum guaranteed sum assured - No limitations (subject to the underwriting policies approved by the Board)
    The available premium payment terms that one can choose from are 10 years and 25 years. This is a regular premium paying plan
    • Minimum policy term that can be chosen = 10 years
    • Maximum policy term that can be chosen = 35 years
    Max Life Premium Return Protection Plan Minimum age of entry - 21 years, for all policy terms Maximum age of entry:
    • For a 20-year policy term, maximum entry age = 55 years as of last birthday of the life insured
    • For a 25-year policy term, maximum entry age = 50 years as of last birthday of the life insured
    • For a 30-year policy term, maximum entry age = 45 years as of last birthday of the life insured
    • Minimum sum assured = Rs.5 lakh (subject to minimum premium limitation)
    • Maximum sum assured = Rs.1 crore
    The plan offers a premium payment term (PPT) of 11 years that policyholders can opt for The available policy terms that one can choose from are 20 years, 25 years, and 30 years

    Retirement Plans:

    The retirement plans offered by Max Life Insurance essentially help people lead a certain lifestyle after their working income comes to a halt. Individuals can either choose a lump-sum benefit at the end of the policy term, or annuity plans. In annuity plans, the insurer provides monthly payouts as pension benefits to the insured. Individuals who invest in such plans are required to give away a portion of their earnings from their income, so that they are able to make use of that saving during their retirement years. This saving can be withdrawn either in parts or in whole, depending on the insured. Since retirement plans offer the benefits of both protection and insurance, they are ideal for one’s golden years.

    The different types of retirement plans offered by Max Life Insurance are mentioned below:
    Type of the Plan Minimum and Maximum Age of Entry Basic Sum Assured Premium Payment Term (PPT) Policy Term
    Max Life Forever Young Pension Plan
    • Minimum age of entry - 30 years as of the last birthday
    • Maximum age of entry - 65 years as of the last birthday
    A retirement corpus is provided by the insurer to the insured either in lump sum or as pension Regular pay and single pay are available as premium paying terms The policy is offered for a fixed term of :
    • 10 years (minimum)
    • 75 years (maximum)
    Max Life Guaranteed Lifetime Income Plan
    • Minimum age of entry - 50 years. However, the minimum age is 55 years for policies that are sourced under Qualifying Recognized Overseas Pension Scheme or QROPS, according to Her Majesty’s Revenue & Customs pronouncements
    • Maximum age of entry - 80 years as of the last birthday
    Annuity is paid to the annuitant by the insurer. The multiple annuity options available are:
    • Single life annuity for life (without death benefit)
    • Single life annuity for life with return of premium (ROP) payable upon death
    • Joint life annuity for life (without death benefit)
    • Joint life annuity for life with return of premium (ROP) payable during death of the last survivor
    • Minimum premium (purchase price) - minimum single premium will be subject to payment of at least Rs.1,000 as Minimum Annuity payout to the annuity policyholder
    • Maximum premium (purchase price) - No limitations
    Two annuity terms are available under the plan:
    • Single life variant
    • Joint life variant
    Max Life Perfect Partner Super Minimum entry age - 91 days as of last birthday Maximum entry age -
    • For 7 and 10-year premium payment term, maximum entry age = 55 years
    • For 15-year premium payment term, maximum entry age = 50 years
    • For 20-year premium payment term, maximum entry age = 45 years
    • Minimum guaranteed sum assured - Rs.50,000 (subject to limits of minimum premium)
    • Maximum guaranteed sum assured - No limitations (subject to approved underwriting policies of the Company)
    The plan offers fixed premium payment terms (PPT) of 7, 10, 15, and 20 years The policy will remain in force till the policyholders attain 75 years in age

    Group Insurance Plans:

    In order to promote benefits of life insurance and increase the percentage of insured individuals in the country, multiple organisations, groups, and corporates have started providing comprehensive life and health insurance policies to their employees in one go. Companies provide insurance policies ranging from health and savings plans to insurance and group gratuity plans. These plans have diverse, distinctive characteristics and they offer widely different benefits, most suitable for the policyholders. This approach is implemented in order to cover all the facets of investment and savings, to eventually impart complete financial security to the members.

    The different types of group insurance plans offered under Max Life Insurance are mentioned below:
    Type of the Plan Minimum and Maximum Age of Entry Basic Sum Assured Premium Payment Term (PPT) Policy Term
    Max Life Group Credit Life Premier Minimum age of entry:
    • For education loans - 14 years as on the last birthday
    • For loans of other types - 18 years as on the last birthday
    Maximum age of entry - 75 years and 77 years as on the last birthday of the policyholder
    • Minimum initial sum assured - Rs.5,000
    • Maximum initial sum assured - No limitations (subject to underwriting policies of the Company approved by the Board)
    Single pay PPT is available under the plan
    • Minimum policy term - 2 years
    • Maximum policy term - 40 years
    Max Life Group Gratuity Premier Plan
    • Minimum age of entry for employees - 18 years as on the last birthday
    • Maximum age of entry for employees - 74 years as on the last birthday
    Each member under the plan receives a fixed life insurance cover of Rs.1,000. The minimum group size for the policy is 10 and there is no limitation for the maximum group size There are certain percentages under each investment fund that the group members will be required to pay. There are no premiums involved in group plans The scheme can be renewed after a duration one year from its inception
    Max Life Group Super Life Premier in Lieu of EDLI
    • Minimum age of entry - 18 years as on the last birthday
    • Maximum age of entry - 74 years as on the last birthday
    • Minimum uniform sum assured for a single member of the group = Rs.6.01 lakh
    • Maximum sum assured for a single member of the group = Rs.6.10 lakh
    Premiums for the plan are paid by the employer and the premium modes available are annual, quarterly, semi-annual, and monthly The policy will remain in force for a duration of one year, post which it can be renewed as per the relevant conditions
    Max Life Group Super Life Premier Minimum age of entry - 18 years as on the last birthday Maximum age of entry - 74 years as on the last birthday Minimum basic sum assured: Rs. 6,01,000 per member Maximum basic sum assured: Rs. 6,10,000 per member There are no premium payment terms available under the plan as they are paid by the employer itself. The minimum premium amount is Rs.5,000 which excludes additional mortality, rider premium, taxes, and cesses The policy is offered for a fixed term of one year
    Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana
    • Minimum entry age - 18 years as on the last birthday
    • Maximum entry age - 50 years as on the nearest birthday of the policyholder
    • Minimum sum assured for a single member of the group - Rs.2 lakh
    • Maximum sum assured for a single member of the group - Rs.2 lakh
    There are no premium payment terms involved under the plan. The premium payment mode available is annual only The policy is offered for a fixed term of one year
    Max Life Group Credit Life Secure Plan
    • Minimum entry age - 15 years as on the last birthday
    • Maximum entry age - 75 years as on the last birthday
    • Minimum sum assured for a single member of the group - Rs.5,000
    • Maximum sum assured - No limitations (subject to Board-approved underwriting policies of the Company)
    The premium payment term under the policy is single pay only
    • Minimum policy term - 2 years
    • Maximum policy term - up to 77 years as on the last birthday (subject to a maximum period of 30 years)

    Health Insurance Plans:

    The health insurance plans offered under Max Life Insurance essentially ensure that all medical expenses of the members in the group are covered, especially during unforeseen events like accident. Any other illnesses, like critical illnesses are also covered under the plan offered by Max Life. In order to cover medical costs extensively and tide over the financial losses incurred during the event, Max Life Insurance offers health plans that cover outpatient expenses and certain medical procedures as well.

    The health plan offered under Max Life Insurance has been mentioned below:
    Type of the Plan Minimum and Maximum Age of Entry Basic Sum Assured Premium Payment Term (PPT) Policy Term
    Max Life Cancer Insurance Plan
    • Minimum age of entry - 25 years as on the last birthday of the policyholder
    • Maximum age of entry - 65 years as on the last birthday of the policyholder
    • Minimum sum insured = Rs.10 lakh
    • Maximum sum insured = Rs.50 lakh
    The sum insured can be chosen by the policyholder at the intervals of Rs.5 lakh only
    The premium payment term available for the plan is regular and is equivalent to the policy term
    • Minimum policy term = 10 years
    • Maximum policy term - 40 years

    ULIP Plans:

    The ULIP plans offered under Max Life Insurance fundamentally incorporate the elements of both insurance and investment, thereby providing the policyholders the chance to invest in multiple financial products such as stocks, bonds, mutual funds, and so on. These investments yield huge returns for the insured while simultaneously providing a protection cover as well. ULIPs are highly suitable for people who want to invest in high-yielding products while balancing their fund with debt and equity components, with the choice to make a switch in case the market undergoes a change in the future.

    The multiple ULIP plans offered under Max Life Insurance are mentioned below:
    Type of the Plan Minimum and Maximum Age of Entry Basic Sum Assured Premium Payment Term (PPT) Policy Term
    Max Life Fast Track Super Minimum age of entry - 18 years as on the last birthday Maximum age of entry -
    • For single pay or 5-pay policies, maximum age of entry = 60 years as on the last birthday
    • For regular pay policies, maximum age of entry = 50 years as on the last birthday
    Minimum fixed sum assured:
    • For single pay policies, minimum sum assured = Rs.1.25 lakh
    • For 5-pay policies, minimum fixed sum assured = Rs.5 lakh
    • For regular pay policies, minimum sum assured = Rs.2.50 lakh
    The premium payment terms (PPT) available under the plan are single pay, 5-year pay, and 20 years for regular pay The policy is offered for a fixed term of 10 years for single pay and 5-pay policies, and 20 years for regular pay policies
    Max Life Platinum Wealth Plan Minimum entry age:
    • For single and limited (5-year) pay policies, minimum entry age = 18 years as on the last birthday
    • For regular pay policies, minimum entry age = 18 years as on the last birthday
    Maximum entry age:
    • For single and limited (5-year) pay policies, maximum entry age = 60 years as on the last birthday
    • For regular pay policies, maximum entry age = 55 years as on the last birthday
    Sum assured multiple:
    • For single pay policies, sum assured multiple = single premium amount X 1.25
    • For limited and regular pay policies, sum assured multiple = Higher of (10 times annualised premium or 0.5 X Policy Term X Annualised Premium)
    • For a 10-year policy term, premium payment term (PPT) = single pay
    • For a 10-20 year policy term, premium payment term (PPT) = limited pay (5 years)
    • For a 10-20 year policy term, premium payment term (PPT) = regular pay
    The policy is offered for fixed terms of either 10 or 20 years

    How to Claim Insurance with Max Life:

    In case of a death claims, customers will have to be ready with the following documents:

    Compulsory documents required:

    Original policy documents:

    • Original / Attested copy of Death Certificate Issued by local municipal authority.
    • Death Claim Application Form (Form A)
    • NEFT Mandate form attested by bank officials in addition to a cancelled cheque or bank account passbook.
    • Beneficiary's photo identity proof like copy of passport, PAN card, Voter identity card, Aadhar (UID) card etc.

    Additional documents (as per the cause of death)

    • Medical / Natural death:
      • Attending Physician's Statement (Form 'C').
      • Medical records (Admission notes, Discharge/ Death Summary, Test reports etc.)
    • Accidental/ Unnatural Death:
      • Copy of the First Information Report (FIR) or Panchanama / Police Complaint.
      • Copy of Post Mortem Report (PMR) / Autopsy and Viscera report.
      • Copy of the Final Police Investigation Report (FPIR)/Charge sheet.

    Documents Required in case of Group Claims

    1. For Employer Employee Policies
    • Claim Form (GTL Employer Employee, EDLI, Gratuity) as applicable.
    • Original/Attested copy of Death Certificate issued by municipal authorities.
    • EFT Mandate form to be completed by nominee / policyholder along with the copy of the cancelled cheque wherein the name of the account holder is printed or copy of Bank pass book.
    1. For Non Employer Employee Policies

    Compulsory documents required

    • Certificate of Insurance.
    • Original / Attested copy of Death Certificate Issued by local municipal authority.
    • Claim Form (Lender Borrower/Non Lender Borrower) as applicable.
    • NEFT Mandate form attested by bank authorities in addition cancelled cheque or bank account passbook.

    Additional documents (as per the cause of death)

    • Medical / Natural death:
      • Attending Physician's Statement (Form 'C').
      • Medical records (Admission notes, Discharge/ Death Summary, Test reports etc.)
    • Accidental/ Unnatural Death:
      • Copy of the First Information Report (FIR) or Panchanama / Police Complaint.
      • Copy of Post Mortem Report (PMR) / Autopsy and Viscera report.
      • Copy of the Final Police Investigation Report (FPIR)/Charge sheet.

    To start the claims process with Max Life, the policyholder / nominee will have to intimate the insurance company about the claim by either writing to the insurer via their insurance agent, or dropping off their written communication at the nearest branch of Max Life Insurance Company Limited, or by sending an email. Written communication can also be sent to Max Life Insurance Operations Centre – Claims Department, Max Life Insurance Company, Operations Center – 2md Floor, 90A, Sector 18, Udyog Vihar, Gurgaon – 122015, India.

    Once you have intimated the insurance company, you will have to download the claim forms from the Claims Section of the company’s official website or by visiting the nearest Max Life branch. Make sure that all claim forms are filled in correctly as the presentation of false / fraudulent information can result in a rejection of claims. Also make sure that all the documents required are attested along with the claim form which must be submitted at the nearest branch of the company. The company will then verify the details presented by you and settle the claims within 30 days of receiving the intimation.

    Max Life Claim Settlement Ratio

    Total Premium in Crores (2016-17) Total Premium in Crores (2015-16) Total Premium in Crores (2014-15) Total Premium in Crores (2013-14) Claim Settlement Ratio (2016-17) Claim Settlement Ratio (2015-16) Claim Settlement Ratio (2014-15) Claim Settlement Ratio (2013-14)
    10780.4 9216.16 8171.62 7278.54 98.26% 96.95% 96.03% 93.86%

    Documents Required to Purchase A Max Life Insurance Policy:

    Customers who wish to purchase a life insurance policy from Max Life will have to furnish the following documents:

    1. Proposal form
    2. Identity Proof
    3. Address Proof
    4. Any other documents as requested by Max Life Insurance Company Limited.

    How to Check Max Life Policy Status:

    In order to check the status of your Max Life insurance policy, you can log on to the official website of the company and login using your client ID or username, and password, in the space provided for Individual Policy Holder. Once you have logged in to the portal, you check your policy status by simply entering your policy details along with any other information requested by the page. In case you are a new user, you can register with Max Life by providing the requested details.

    Customers can also check the status of their insurance policies by calling 1860 120 5577, or sending an email at service.helpdesk@maxlifeinsurance.com

    Max Life Insurance Online Payment:

    Customers who wish to make premium payments online can do so without the need for stepping outside their house and visiting a branch of Max Life Insurance Company Limited. All you need is a computer, an internet connection and a payment gateway. The company’s official website has a facility that allows customers to make premium payments online using Visa debit cards, net banking, and credit cards (Visa / MasterCard).

    The process of making an online payment can be completed in three simple steps:

    1. Visit the company’s website and under the Customer Service section, click on Existing Customer and select Policy Renewal and enter your policy number along with your date of birth.
    2. Confirm your policy details.
    3. Select a payment gateway and make payment.

    Customers can also log on to their bank’s website and transfer funds from their account directly to their insurance policy by using RTGS / NEFT. The following details must be entered while using RTGS / NEFT:

    Beneficiary Name: Max Life Insurance Co. Ltd.

    Beneficiary Credit Account Number: 1165 (followed by policy number)

    Beneficiary Bank IFSC Code: HSBC0110002

    Beneficiary Bank Name: HSBC Limited

    Branch Name: Barakhamba Road, New Delhi – 110001

    Max Life Insurance Premium Calculator:

    To calculate the premium applicable to a Max Life insurance policy, just visit the company’s website, locate the calculator and enter the details required, such as policy name, sum assured, premium payment term and payment mode, age, policy term, gender, date of quotation, etc. and select ‘Calculate’. The result will appear on your screen immediately.

    Max Life Insurance Customer Care:

    Customer care forms an integral part of any life insurance organization where customer satisfaction can nearly make or break the reputation of the company. Max Life is one of the many insurers in India which has established a dedicated customer service division for enabling customers to get in touch with the company to resolve their grievances, get answers to their queries, or send their feedback. The insurer has set up multiple channels via which customers can get in touch with the customer care dept. to get in touch, customers can call on the helpline number to get on-call assistance, write in to the customer care on the designated email ID, locate an office or an agent from the official website, or request a call back from the customer care department. There is also a separate helpdesk that has been set up for NRI customers.

    Max Life Insurance Frequently Asked Questions:

    1. What are the different premium payment options available with Max Life Insurance policies?

      A. Max Life Insurance Company offers policyholders a variety of premium paying options:

      • Online payments
      • Phone payments
      • Auto Debit facilities
      • Other modes of payment
    2. Can I change the premium paying mode in my Max Life insurance policy?

      A. Yes, the premium paying mode can be changed, but only on policy anniversaries for active policies. There is a form that needs to be signed and submitted for the same.

    3. How do I change the nomination / nominee in my Max Life Insurance policy?

      A. In order to change the nominee details in your Max Life Insurance policy, you must fill out a policy amendment request form and submit it to your nearest Max Life branch office.

    4. What types of riders are available with Max Life Insurance Policies?

      A. There are 4 riders available under Max Life’s product portfolio, which are:

      • Personal Accident Benefit Rider pays out a benefit amount in the event of an accident.
      • Accidental Death Rider Benefit provides a benefit pay-out in the unfortunate event of death by accident.
      • Dreaded Disease / Critical Illness Rider provides a benefit pay-out in case the policyholder contracts any of the critical illnesses mentioned in the rider document, or during surgery.
      • Waiver of Premium Rider Benefit: In case the policyholder dies / is rendered disabled due to accident, the premiums will be waived off.
    5. Are there any situations in which claims can be denied by Max Life Insurance Co. Ltd.?

      A. Yes. In case the policyholder fails to disclose any of the material information at the proposal (or reinstatement) stage, the claim will not be honoured – as this information could have affected the policy in many ways, and could even have resulted in the policy not being issued or revived.

      Non-fulfilment of the terms of the contractual terms and conditions could also be the reason that claims are denied.

    6. Can a loan be taken a Max Life Insurance policy?

      A. Yes, a loan can be taken out against your Max Life Insurance policy if the policy has acquired a Cash Surrender Value. The loan against the policy can be availed for up to 90% of this value, subject to a minimum availability of Rs.10,000. Loans can be taken after 3 policy years have been completed on active policies. Loans cannot be taken for policies in the grace period.

      There is no loan available for Max Life Term Plans and Life Marker Unit Linked Plan.

    7. What is OPPB and when can the option of exercising OPPB be utilized?

      A. OPPB refers to the Option to Participate in Progressive Bonuses. From time to time, payment of one-time premiums can enhance the insurance coverage. Although it is subject to underwriting guidelines, this option can be added to a Whole Life Par Plan at any time. If the OPPB plan is not opted for at least once every 2 years, it lapses.

    8. What documents are required in order to process a Maturity claim?

      • Original Policy Pack.
      • Copy of ID proof.
      • Form M.
      • For NEFT – cancelled cheque or a copy of the bank passbook with the banker’s attestation, or the banker’s attestation on Account Details in Form M.
    9. Does Max Life Insurance have any retirement plans?

      A. Yes, Max Life has the following retirement plans:

      • Max Life Forever Young Pension Plan.
      • Max Life Guaranteed Lifetime Income Plan.
      • Max Life Perfect Partner Super.
    10. Can I cancel my Max Life Insurance policy?

      A. Customers who wish to cancel their policy must visit the nearest branch of Max Life Insurance Company Limited along with the original policy document and request for a surrender of policy. The officials will request you to fill in certain forms after which you will receive an estimate of the surrender value of the policy. If you accept the value, your policy will be terminated immediately and you will receive the money you invested after deductions have been made towards stamp duty fees and other charges.

    11. When is my Max Life insurance policy considered lapsed?

      A. In case you fail to make premium payments on time, you will have to ensure that due premiums have been paid within the grace period granted by the company. Failure to make premium payments within the grace period will mean that your policy has lapsed and no benefits will be paid out on maturity. However, customers can revive their lapsed policies to ensure that they are eligible for benefits. To revive a lapsed policy, all you have to do is pay your outstanding premiums in addition to the interest charge levied by the company and your policy will be active again. However, it is the company that holds the sole discretion of determining whether or not a life insurance policy can be revived based on the particular situation of a customer.

    12. Can I apply for a Max Life Insurance policy online?

      A. Yes, you can make the most of an internet connection and online payment systems to purchase an insurance policy from Max Life without stepping outside your house.

    13. How do I make premium payments towards my Max Life insurance policy?

      A. Premiums can be paid directly in cash to the company by visiting a branch of the insurer, or via the internet using debit and credit cards or net banking to transfer funds through the company’s official website, or by a cheque that can be sent to the company’s main office.

    Max Life Insurnance

    News About Max Life Insurance

    • Max Life Insurance Welcomes Rahul Talwar as Its Brand New Marketing Head and Senior VP

      In what comes as a huge news for the staff members and employees of Max Life Insurance - the General Insurance Company, Mr. Rahul Talwar will hereon be leading the marketing team, while simultaneously taking on the roles and responsibilities as a senior vice president of the insurance firm.

      For now, Mr. Talwar will be based out of Max Life Insurance’s Gurugram office - which is the official corporate office. Mr. Talwar will henceforth report to Mr. Manik Nangia, Director-Marketing and Chief Digital Officer. Ushering in a new branding mechanism in Max Life, Mr. Rahul Talwar will be overseeing all the marketing activities conducted in the organisation and will additionally play a crucial role in accelerating the organisation and brand’s journey all across the touch points of the country.

      Keeping in mind the brand’s long-term objective, Mr. Rahul Talwar will also be working very closely with the leadership team in order to reinforce the company’s position and make a highly positive impact, while staying in tandem/line with its objectives.

      Commenting on this recently acclaimed success, Mr. Rahul Talwar said ‘It is an exciting time for the life insurance industry and I am thrilled to be working with a dynamic and highly successful team at Max Life Insurance.’ Talwar has a total of 14 years’ experience in the sector of FMCG where he was leading the marketing team for South Asia and India. Talwar has also had a minor stint with the Aditya Birla Group.

      30 October 2018

    • Max Life Savings Advantage Plan: Max Life Insurance’s Newest Offering

      Insurance provider Max Life Insurance has launched the Max Life Savings Advantage Plan. The plan is a non-linked participating life insurance plan which gives policyholders with the benefit of selecting the term of their premium payment, term of their policy, and systematic savings. The plan provides policy holders with the flexibility to build their wealth that could aid any financial assistance and protection in times of need.

      The Max Life Savings Advantage Plan gives the policy holder the means to fulfil short to medium term financial goals. The flexibility of the plan also allows policy holders to avail the death benefit or maturity benefit in lump sum or on in regular intervals across a 10 year period.

      Additionally, the plan offers a superior maturity benefit of 110% of the sum assured on maturity.

      11 September 2018

    • Max Life Insurance thinking beyond Axis Bank tie-up

      After Axis Bank ended its bancassurance partnership with Max Life Insurance, the leading life insurance provider is now building up its proprietary sales channels. As a matter of fact, Axis Bank has recently entered into a similar agreement with Life Insurance Corporation of India (LIC), the largest insurance provider in the country. The partnership equal to 55% of the revenue generated by Max Life Insurance in the last fiscal ending on 31 March 2018. Hence, after the end of the agreement it was anticipated that Max Life might lose a big portion of its business, However, Rajesh Sud, the executive VC, and MD of Max Life Insurance assured that Axis Bank is not the only sales channel for them. He also confirmed that they have a partnership with several other lenders like Yes Bank, Lakshmi Vilas Bank along with several other small urban cooperative banks.

      7 September 2018

    • Max Life Insurance: A Leader in Customer Loyalty

      An independent survey was recently conducted by Kantar IMRB to gauge the customer loyalty of insurance companies. The results reflected that Max Life Insurance is currently leading in the domain of customer loyalty, with its strong, growing, extremely loyal customer base.

      In this year’s survey, approximately 13 leading insurance companies were tracked, wherein Max Life jumped to the top from the 6th position last year. Among all the insurance companies that were tracked, Life Insurance Corporation of India was also in the list.

      The survey data was gathered during the first quarter of the new financial year, wherein more than 7000 customers’ data was tracked, spread across 15 cities. This loyalty survey goes by the name Insurance India and it operates independently on the grass-root level. The survey is conducted by Kantar IMRB on a yearly basis and it began its inception in the year 2012. The survey has come a long way since then and is currently in its 7th edition.

      In the sector of life insurance, this survey is considered to be the most credible, unprejudiced, and objective. While continuing to develop technology prolifically in the life insurance sector, this survey also helps in understanding the expectations of thousands of customers from their insurance providers.

      28 August 2018

    • Expansion Plan on the Cards for Max Life Insurance

      With an objective of building its proprietary channels business, Max Life Insurance has announced that it is all set to build more than 145 additional branches along with making a capital investment of Rs.250 crore over a period of twelve months.

      This announcement has been made by Max Life Insurance chairman, Mr. Analjit Singh as soon as he took over the insurance arm’s holding company. When Max Life incepted, it primarily revolved around the idea of trading insurance policies by means of insurance agents. Mr. Singh said that even though the company has come a long way ahead in terms of business, it still remains to live up to its former glory. The most effective approach to resolving this problem is by making the company’s proprietary channels go berserk, according to Mr. Singh.

      While Max Life currently has around 50,000 insurance agents in its network, it is believed to be hiring 36,000 agents over the span of the next three years. Placing his faith in the performance of Max Life over the years, Mr. Singh said that the organisation is the best at what it does and that there is always room for improvement.

      14 August 2018

    • Acquisition Opportunity will Not be Pursued by Max Life

      In a recent report, Max Financial Services Ltd said that all fund raising plans have been put on a hold for now, as its subsidiary, Max Life has decided to halt all acquisition opportunities.

      Max Financial was apparently bidding to raise funds to assist its insurance arm acquire more assets in the near future. Earlier this year, Max Life announced that it was planning to approve multiple fundraising proposals as a result of an approval from its board of directors.

      In the current scenario, as Max Life insurance is not acquiring any entity, Max Financial Services Ltd has also halted all its fundraising opportunities.

      5 July 2018

    • Max Life Predicts a Consolidated Market for the Future

      With market returns standing at 3-5% for the current calendar year, professionals and insurance experts believe consolidation to be the new trend of the future.

      Max Life Insurance official Mihir Vora regarded the existing status quo of the insurance industry to be interesting. He further highlighted that flow from multiple domestic investors have been strong even as emerging foreign investors continue to strive for the best. Being a mutual fund expert, Mr. Mihir Vora also suggested prospective investors to look at the sector from a broader, long-term perspective. He particularly highlighted the fact that because of certain cheap stocks in the market, alpha generations are developing. He also said that the current investment situation in India is such that valuations may look expensive, however, divergences allow the scope for picking of stocks.

      Long-term investors of mutual funds are to be worried the least since the trend has been expected to be in their favor.

      29 June 2018

    • Max Life Insurance has a new stakeholder

      Axis Bank, the country’s 3rd largest bank, has made a stake purchase in Max Life Insurance for an amount of Rs. 95.75 crore. With the purchase, the bank now owns 4.99% stake of the insurance provider. 3.99% of this stake is from Max Financial Services and 1% Mitsui Sumitomo Insurance Company. Max Life Insurance is worth Rs. 2,115 crore in paid-up capital and Rs. 31,973 crore capital under management.

      2 March 2016

    • 9.95% stake for KKR in Max Life

      Kolkata Knight Riders, the IPL cricket team from Kolkata has purchased stakes worth 9.95% in Max Life insurance. KKR acquired its stake from a sponsor group and made its investment from its portfolio of Asian Funds II.

      KKR is one of the leading contestants for the winner of the IPL trophy and Max Life is one of the leasing insurance providers of the country with a huge customer base as well as deep penetration in urban and rural parts of the nation.

      18 February 2016

    • Max Life leads in terms of claim settlement ratio

      Claim settlement ratio is one of the biggest factors that determine the success of an insurance policy. The topmost insurance companies, all have an outstanding claim settlement ratio which is also a parameter that is evaluated by customers when they are about to zero down on a particular insurance provider or insurance policy.

      Max Life insurance has once again excelled and come out as a top performer in claims ratio settlement. This means that the company is fast and effective in settling insurance claims made by customers who own insurance policies fro Max Life. As per the latest report furnished by IRDA, the outstanding claims ratio for Max Life was 0.07 per cent as on March, 2015. For the financial year 2015-16, Max Life has paid a total of Rs.245.46 Crore as claim settlement.

      30 January 2016

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Max Life Insurance Reviews

  • Page 1 of 26 1 2 3 4 5
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      My experience with the MAX LIFE INSURANCE is very good and i am using it from past ten years the maturity period is for 15 years where the premium i pay on monthly basis through the offline. This gives the coverage is for self and i am satisfied with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my Term insurance with Max life insurance, there service they are given me is good, i use to pay premium on yearly bases, and they have charged me up to 21,000 which was nominal for me and the agent had clearly explain about the policy coverage in this insurance, i use to pay premium through off line mode.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Necessary policy for any human being"
      0.5 4.0/5 "Great!"
      I have taken my term insurance with Max Life Insurance. I have opened this life insurance policy 2 months before and chosen the monthly payment mode. I pay the premium of 1190. They are providing the coverage value of Rs. 75 lakhs. They are covering the accidental benefits of 10 lakhs and partial disability benefits. I can able to utilize the policy upto 75 years.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 16, 2018
    • Max Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my term insurance with Max life insurance from last 3 month only, i use to pay premium on monthly bases and they have charge premium up to 1500 approximately and i do payment through on line and there overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 14, 2018
    • Max Life Insurance
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from one bank they have offered me with the MAX LIFE insurance. I ma holding it from past five years where i pay the premium for yearly once through online. The maturity period of this policy is for 15 years and the coverage is for self.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Nov 07, 2018
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      I have purchased the TERM POLICY with the MAX LIFE INSURANCE the documentation for taking the policy is easy and good. I have been using from last three years the maturity period of this policy is for 25 years. The premium i pay yearly once also the service is good.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 03, 2018
    • Max Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I am having a Max Life insurance policy from the last 11 years, it is a pension policy where i get good benefits and returns. Maturity period for this policy is 11 years but it can go up to 20 years. I pay my premium every month through ECS and i am convenient with the payment options.
      Was this review helpful? 1
      , kochi
      Reviewed on Oct 11, 2018
    • Max Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance from the Max life as it has good returns i make the payment through online banking annually . This policy covers accidental and critical illness benefits with the tenure period of 15 years . Overall am satisfied with my policy .
      Was this review helpful? 1
      , pune
      Reviewed on Oct 03, 2018
    • Max Life Insurance
      "GOOD"
      0.5 4.0/5 "Great!"
      This is a term plan which i have purchased it through MAX LIFE INSURANCE. The tenuity period is for 8 years and premium i pay yearly through auto debit from account. Documentation done physically also it provides the self coverage along with the accidental benefits is. I am using from last 2 years.
      Was this review helpful? 2
      , mumbai
      Reviewed on Oct 03, 2018
    • Max Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Max Life. I am paying a premium of 35K per year, they all provide massive offerings in order to convince the customers but once the customer has taken the policy; the service part becomes pathetic. They need to be more helpful and beneficial form the customer point of view.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Sep 15, 2018
    • Max Life Insurance
      "Good services overall"
      0.5 4.5/5 "Excellent!"
      Max Life Insurance was pretty quick in the response for the term plan. The plan riders come up with good set of critical illness. The insurance procedure was quiet well described and executed. Just wish to add one point for the medical test center guys, please try to maintain cleanliness of the instruments because it will help in creating a hygienic impression of the process.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Sep 10, 2018
    • Max Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this Insurance Policy a long time back, it has been a good policy. I had been making the payments online and i had been making the payments offline and there has not been any hassle in making the payments. Their customer support and their staff responses had been good as well.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 03, 2018
    • Max Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance policy almost 5-6 months back. I had been making the payments online and the payment methods had been simple and easy. The premium which has been paying had been good. There has not been any hassle faced with them so far.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 27, 2018
    • Max Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the Max. I am paying a premium of 53000 Per year, myself. I paid the first premium via cheque and I am planning to pay the remaining premium via ECS. So far there hasn't been any issue with their services.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 23, 2018
    • Max Life Insurance
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I have taken my life insurance with Max Life. The customer services and response is good. The tenure is for 20 years. I would get the benefits after the maturity term. I am happy with the benefits and sum assured. I pay a premium of 7500 on a yearly basis and I pay it by cash.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Aug 23, 2018
    • Max Life Insurance
      "Good Service"
      0.5 3.5/5 "Pretty good"
      I've a life insurance policy with the Max Life. I am paying a premium of 17000 per annum for a sum assured of 1 Crore. It has not got any other additional benefits. So far there hasn't been any issues with the policy and their services.
      Was this review helpful? 2
      , new delhi
      Reviewed on Aug 13, 2018
    • Max Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the Max Life. I am paying the premium sometimes offline and sometimes online. I am paying a premium of 15000 per year. So far it has been a hassle free experience with the policy. It do not have any kind of money back or any other commendable features.
      Was this review helpful? 0
      , kochi
      Reviewed on Jul 27, 2018
    • Max Life Insurance
      "Poor Service"
      0.5 1.0/5 "Really Bad"
      I was having a Life insurance policy with the Max Life. I closed the policy, they're not good at all. They have more hidden terms and conditions which were not revealed to me while purchasing the policy. It has been a very bad decision choosing to got with the Max Life.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jul 27, 2018
    • Max Life Insurance
      "Good Term insurance policy"
      0.5 4.0/5 "Great!"
      I have been holding this policy for last 10 years. I have to pay around Rs. 21000 per annum. Its a term insurance. I have to pay the premium for life time. They have given me a sum assured amount of 1 crore. I will do the payment through online banking.
      Was this review helpful? 2
      , thane
      Reviewed on Jul 25, 2018
    • Max Life Insurance
      "Average policy"
      0.5 3.0/5 "Satisfactory"
      I have taken a new policy is 1.5 months back. I have to pay the premium of 1 lakhs per year. I have to pay the 1 lakhs for first fie year then i can go upto 10 years i want to continues. Its market based policy. I will get a bonus points and interest. I will get a average amount of 8 lakhs after 6 years depends on the market value. I don't know much about this policy. I don't receive any notification from Max life regarding the insurance.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jul 23, 2018
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