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  • Max Life Insurance

    Max Life Insurance
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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    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 customers 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 96.95% for year 2015-2016

    Occupation eligibility for Max Life Insurance

    Grievances Resolved

    100.00% Grievances Settled for year 2015-2016


    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.

    Max Life Savings Plans:

    Savings plans are ideal investment options if you wish to accumulate wealth for later use. Following are the savings plans offered by Max Life Insurance Company Limited:

    1. Max Life Guaranteed Income Plan: Savings plan with guaranteed monthly income that doubles after 5 years.
    2. Max Life Whole Life Super: Policy tenor available till 100 years of age of applicant, with the added option of withdrawing funds when needed, without compromising the life cover.
    3. Max Life Monthly Income Advantage Plan: The Monthly Income Advantage Plan, as the title suggests, guarantees a monthly income payment for a period of 10 years to meet their financial requirements in case of any unforeseen circumstances.

    Plan

    Basic Sum Assured / Minimum Annualised Premium

    Policy Term (Tenure)

    Max Life Guaranteed Income Plan Minimum annualised premium will be Rs.75,000 for policies with a six year term, and Rs.20,000 for policies with a 12 year term. Six years or 12 years
    Max Life Whole Life Super Minimum premium is Rs.8,500 (excluding all cesses and taxes) Up to age 100 years of the Life Insured (100 years minus the age of the policyholder at entry)
    Max Life Monthly Income Advantage Plan For the 12 Pay variant, the minimum sum assured will be Rs.6,48,000; and for the 15 Pay variant, the minimum sum assured is Rs.8,10,000. In case of 12 Pay policies, the policy term will be 22 years and in case of 15 Pay policies, the policy term will be 25 years.

    Max Life Child Plans :

    Child plans can help in accumulating wealth to meet future expenses of your children, such as higher education, marriage, purchase of a home / vehicle, etc. Investing in a policy at an early stage of the child’s life will ensure that there are adequate finances to meet future requirements. Following are the child plans offered by Max Life Insurance Company Limited:

    1. Max Life Shiksha Plus Super: Coverage includes future premium payment by insurer in case of insured demise, as well as family income benefit.
    2. Max Life Future Genius Education Plan: The Future Genius Education plan from Max Life is a non-linked participating life insurance plan that pays a lump sum on maturity.

    Plan

    Basic Sum Assured

    Policy Term (Tenure)

    Max Life Shiksha Plus Super 10 x Annualised Premium. The minimum annualised premium in case of 5 Pay policies will be Rs.50,000. In case of Regular Pay policies, the premium will be Rs.25,000 in case of Annual Mode and Rs.48,000 in case of Non-Annual Mode. In case of 5 Pay policies, the policy term will be 10 years, and in case of Regular Pay policies, the policy term can be 15 to 25 years.
    Max Life Future Genius Education Plan Rs.3,27,000 in case of 8 Pay policies and Rs.2,12,000 in case of limited pay policies. 13 years to 21 years

    Max Life Growth Plans:

    Growth plans are great investment options if you wish to save money more long-term growth whilst availing an added benefit of protection in addition to the flexibility of investing in a variety of options. Here are the two growth plans offered by Max Life:

    1. Max Life Fast Track Super: The investments are automatically balanced between debt and equity instruments to provide higher and safe returns.
    2. Max Life Platinum Wealth Plan: The Max Life Platinum Wealth ULIP comes with attractive features and supreme flexibility, and offers Guaranteed Loyalty Additions and Guaranteed Wealth Boosters. The plan charges very low and offers higher death benefits with its Partner Care Rider option. Customers can also avail tax benefits with this plan. The plan comes with 23 product variants.

    Plan

    Basic Sum Assured

    Minimum Annualised Premium

    Policy Term (Tenure)

    Max Life Fast Track Super

    The Minimum Sum Assured for Single Pay policies is 1.25 x Single Premium; and 10 x Annualised Premium for Regular Pay and 5 Pay policies. The Minimum Annualised Premium for Single Pay policies is Rs,1 lac; Rs.50,000 for 5 Pay policies; and Rs.25,000 for Regular Pay policies. 10 years for Single Pay and 5 Pay policies, and 20 years for Regular Pay policies.

    Max Life Platinum Wealth Plan

    The Basic Sum Assured for Single Pay policies is 1.25 x Single Premium; and Higher of (10 x Annualised Premium or 0.5 x Policy Term x Annualised Premium) for Regular Pay and Limited Pay (5 years) policies. The Minimum Annualised Premium is Rs.2 lacs for all variants. In case of Single Pay policies, the policy term is 10 years. For Limited Pay (5 years) policies, the policy term is 10 to 20 years, and Regular Pay policies can be availed for terms between 10 and 20 years.

    Max Life Retirement Plans:

    Retirement plans are smart investment solutions that provide you with regular income even when you are no longer professionally active. In return for a periodical premium payment, you will receive regular monthly income to lead a comfortable retired life. Here are the three retirement solutions you can find at Max Life:

    1. Max Life Forever Young Pension Plan: Traditional non-linked annuity plan with guaranteed income stream after retirement.
    2. Max Life Guaranteed Lifetime Income Plan: Terminal illness, death and maturity benefits. 7.5% of Sum Assured to be paid every year for 15 years from age 61 to 75 of applicants.
    3. Max Life Perfect Partner Super: The Perfect Partner Super plan from Max Life is a traditional, participating, money back life insurance plan that guarantees benefits on maturity in addition to death benefits in case of the death of a spouse.

    Plan

    Minimum Annualised Premium

    Policy Term (Tenure)

    Max Life Forever Young Pension Plan

    Rs.25,000 per annum for Regular Pay policies and Rs.1 lac for Single Pay policies. Information not available

    Max Life Guaranteed Lifetime Income Plan

    This policy comes with a minimum premium purchase price of Rs.1 lac. Till the Death of the annuitant in case of single life variants and till the death of the last survivor in case of the joint life variant.

    Max Life Perfect Partner Super

    The minimum annualised premium is Rs.20,000 if the premium paying term is 7 years; and Rs.8,500 if the premium paying term is 10 years /15 years / 20 years. Up to age 75 of Life Insured (Policy term will be 75 years minus the age at which the Life Insured entered into the contract)

    Max Life Group Plans

    Group plans can be purchased by employer-employee groups so as to strengthen the relationship between employers and employees while ensuring that the employees are financially covered whilst plying their trade with a particular employer. Following are the group plans that can be purchased from Max Life Insurance Company Limited:

    1. Max Life Group Gratuity Premier Plan: Meant to provide effective means to employers to fund gratuity payments, with fixed cover of Rs.1,000 per member and option to choose between 4 funds.
    2. Max Life Group Super Life Premier Plan in lieu of EDLI: Great tool to secure future of employees’ dependents against death. Also works as an excellent employee retention tool.
    3. Max Life Group Super Life Premier: Life insurance for groups with Top-up option to provide additional cover.

    Plan

    Basic Sum Assured

    Policy Term (Tenure)

    Max Life Group Gratuity Premier Plan

    Fixed life insurance cover of Rs.1 lac per member One year (renewable annually)

    Max Life Group Super Life Premier Plan in lieu of EDLI

    Rs.3,61,000 per member One year (renewable annually)

    Max Life Group Super Life Premier

    Rs.1 lac per scheme and Rs.5,000 per member One year (renewable annually)

    Max Life Online Term Plans:

    Online term plans offer customers with the option of purchasing the policy online without having to meet an agent or visiting a branch of the insurance company. These plans could either be traditional policies or unit linked plans. The online term plans offered by Max Life Insurance Company Limited are as follow:

    1. Max Life Basic Life Cover: Pure term plan with competitive premium rates. Premium is less with 1 crore life insurance cover.
    2. Max Life Life Cover + Monthly Income: Death benefits and assured monthly income (fixed) for 10 years and 1 crore life cover.
    3. Max Life Life Cover Increasing Monthly Income: Death benefits as well as assured monthly income for 10 years (incrementing at 10% p.a. simple interest).

    Plan

    Basic Sum Assured

    Policy Term (Tenure)

    Max Life Basic Life Cover

    Rs.25 lacs 10 years to 40 years, subject to maximum maturity age which is set at 75 years.

    Max Life Life Cover + Monthly Income

    Rs.25 lacs 10 years to 40 years, subject to maximum maturity age which is set at 75 years.

    Max Life Life Cover Increasing Monthly Income

    Rs.25 lacs 10 years to 40 years, subject to maximum maturity age which is set at 75 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 (2014-15) Total Premium in Crores (2013-14) Claim Settlement Ratio (2014-15) Claim Settlement Ratio (2013-14)
    8171.62 7278.54 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 1800 200 5577 (toll free), or sending an email, or by sending a text message containing Status to 5424243 or 9871010012.

    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 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.

    How to Apply Max India Life Insurance Online


    Max Life Insurnance

    News About Max Life Insurance

    • 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.

      2nd 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.

      18th 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.

      30th January 2016

    • Max Life changes its Logo

      Max Life insurance company- the leading life insurance provider in India, recently introduced its new logo. The logo has been changed considering its demerger of Max India Limited as Max Financial Services Limited. The design of the logo has been slightly changed to make it appear more contemporary. However, while doing so, the company has retained its previous components intact that represents Max Life’s vision- it’s commitment to do the right and protect the future of customers.

      26th January 2016

    • Max India to be renamed and trade ex-demerger

      Recently, the Max Group reveals that from 27th January onward, Max India would start trading ex-demerger. So far, the Max Group has approved demerger into 3 companies and very soon the existing Max India will be renamed as Max Financial Services. Previously, Max India demerged into 3 separate companies namely - ax Financial Services, Max India and Max Ventures and Industries.

      Going forward, the Max Financial Company would focus on managing Max Groups’ flagship life insurance business. The company aims to turn itself as the first Indian listed company focusing exclusively on life insurance.

      24th January 2016

    • BSE Indices to exclude Max India.

      Following the demerger of Max India's specialty film business and health and allied vertical, the company will be released from BSE indices from January 27th. The company is s demerging its health and allied business into Taurus Ventures Limited and specialty film business into Capricorn Ventures Limited. Max India will be barred from 7 indices which include S&P BSE 500, S&P BSE 200, S&P BSE Industrials and S&P BSE AllCap.

      22nd January 2016

    • Max Life announces it Embedded Value.

      Max India, the leading life insurance company in India recently announced the EV (Embedded value) for its life insurance business in India. In September, the EV of the company is Rs. 5,363 crore which is higher than its previous EV in March, 2015. In March 2015, the company’s EV was Rs. 5,232 crore.

      Recently, the company also declared its corporate restructuring plan to divide the company into three separate listed companies. It is expected that all these three entities will get approval soon and will be listed on Indian bourses in December. Besides, Max Life Insurance also declared the value of it New Business which stands at Rs. 163 crore.

      2nd January 2016

    • Max India Sells Stake in Max Bupa to Unlock Value

      The insurance industry has witnessed a lot of deals in the recent past owing to the improvement in the cap on direct investment from overseas, from 26% to 49%. Earlier this week, Max India revealed that it sold 23% of its stake in Max Bupa (the company’s health insurance sector) to Bupa Plc. (its overseas joint venture partner). Following the sale, the holding of Max India in Max Bupa has reduced from 74% to 51%.

      The Insurance Bill was passed in the past year, thus encouraging companies to engage in stake sales to unlock value. Max India can unlock value in its insurance subsidiary now that shares will be transferred in favour of the company’s overseas partner.

      25th November 2015

    • Max Life Insurance launches a new product – Monthly Income Advantage Plan

      Max life insurance has launched a new product Max Life Monthly Income Advantage Plan which is a traditional, participating and money back life insurance plan. You get a guaranteed monthly income for 10 years and a lump sum is paid at maturity. The scheme comes in two variants, premium payment term of 12 years with 22 years policy term and premium payment term of 15 years with 25 years policy term. The plan also offers tax benefits on the premiums paid and on the benefits received by the insured.

      20th October 2015

    • Max Life Platinum Wealth Plan – the new life insurance product launched by Max Life

      One of the leading providers of life insurance in India, Max Life Insurance Company recently launched ‘Max Life Platinum Wealth Plan’. The plan is particularly designed to provider higher returns in shorter tenure. Customers can enjoy unlimited free switches among different funds which helps in better managing their portfolio. Customers can choose to invest in invest in 5 funds available with this plan.

      2nd September2015

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