Max Life Insurance Claim Settlement
Claim Settlement of Max Life Insurance
Max Life Insurance provides a simple and hassle-free claim intimation and settlement process. The insurer follows the principle of being ‘Fairest, Fastest and Friendliest’ in processing claims and they ensure that the amount of claim is received to the entitled person/family quickly and easily. Max Life assigns a dedicated claims relationship officer for every death claims to guide claimants through every step of the claim process. For the Financial Year 2020-21, the company had a high Claim Settlement ratio of 99.35%.
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Claim Process at Max Life Insurance
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FAQs
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Where can I submit claim documents?
You can submit the claim documents at nearest Max Life Insurance branch.
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Who will receive the claim benefit?
The claim benefit can be received by the nominee you appoint while you purchase the insurance policy, the policyholder or the assignee the person in whose favour the policy has been assigned.
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What is the time period of claim settlement?
The valid claims are settled within 30 days after all necessary documents /clarifications have been received. In case the claim needs further verification, it may take upto 120 days to settle the claim. When a claim settlement decision is taken, it is communicated to the claimant.
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How will I receive the claim amount?
You will receive the claim amount as per the option chosen by you while submitting claim documents.
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What is the Claim Settlement Ratio of Max Life Insurance?
The Claim Settlement ratio of Max Life for the Financial Year 2019-20 was 99.22%.