Max Life Insurance

Max Life Insurance Company Limited was founded in 2000 and began its operation in 2001. The life insurance company is a joint venture between (an Indian multi-business corporate) Max Financial Services and Axis Bank Limited. Max Life Insurance Company is one of the leading insurance providers in India. It provides customers with Long-Term Savings, Protection and Retirement Solutions. Max Life intends to become one of the most sought-after life insurance companies in India by safeguarding the future of their customers financially.

They constantly try to create varied solutions in order to make life insurance plans much more economical, easy and suitable for all the customers at each phase of their life. Max Life Insurance works with a customer-centric approach. The insurer provides its customer with complete transparency, the customer can check every detail related to different policies available. Max Life Insurance provides 24x7 customer care services and takes accountability of plans and provides hassle-free claim settlement.

Max Life Insurance has won several awards. Some of the recent awards Max Life Insurance Company has received are ‘Best Organization on Fraud Risk Mitigation processes 2020’ by Fraud, Risk and Compliance Conference 2.0, Ranked 24 in India’s Top 100 Companies to work for’ as recognized by Great Place to Work Institute 2020 and ‘Most Admired Campaign for Brand Revitalisation- Max Life India Protection Quotient’ by Asian Customer Engagement Forum (ACEF) 2019.

Types of Max Life Insurance Plans

Max Life Insurance has a variety of plans to offer to its customers. Following are the types of life insurance plans offered by the insurance company:

1. Term Insurance Plans: Max Life offers the below-given term insurance plans:

• Max Life Smart Term Plan - It is a term plan that can be customized and it provides comprehensive safety to the policyholder against disability, critical illness and death. This term plan is meant to offer a financial safety net to your family in the absence of a policyholder.
• Max Life Super Term Plan - This plan helps your family to cope up with rising inflation with its unique increasing life cover option. This plan has flexible payout options and flexible policy terms. It provides coverage for non-smokers at lower premium rates.
• Max Life Premium Return Protection Plan - This term insurance offers you comprehensive protection along with an inbuilt accident death benefit. It also has the benefit of the return of premium payment at the end of the policy term, on the survival of the life insured.
• Max Life Smart Secure Plus Plan - This term insurance plan puts all your future related to rest by providing you with a comprehensive protection solution that can be customised for you and your loved ones at reasonable rates.
• Max Life Online Term Plan Plus - It is a comprehensive protection policy that you can easily opt for your family at a reasonable rate. In addition to this, you can get this plan online to insure yourself without experiencing the hassle of tedious paperwork.

2. Unit-linked Insurance Plans: Max Life Insurance offers several ULIPs namely Max Life Fast Track Super, Max Life Platinum Wealth Plan, and Max Life Flexi Wealth Plus Plan. These plans help you achieve long-term goals while securing your future through a single plan.

3. Health Insurance Plan: Max Life offers only one health insurance plan namely Max Life Cancer Insurance Plan provides comprehensive protection against all stages of Cancer. In case, cancer gets detected at an early stage, then 20% of the insurance cover which is paid upfront along with the premiums paid in future gets waived off. In case, the illness gets discovered at a major stage, then the complete coverage amount is paid alongside an extra 10% as income for the following five years. The coverage is offered to the policyholder under this plan till 75 years of age.

4. Savings Plan: Savings & Income Plans by Max Life helps the policyholder in building a corpus, getting a stable income, and securing the future of their family members, even in their absence. Max Life Insurance offers several Savings and Income Plans namely Max Life Smart Wealth Plan, Max Life Savings Advantage Plan, Max Life Monthly Income Advantage Plan, Max Life Guaranteed Income Plan, Max Life Whole Life Super, Max Life POS Guaranteed Benefit Plan and Max Life Assured Wealth Plan.

5. Child Insurance Plans: The Child Insurance Plans by Max Life have been specifically designed to address the future requirements of your children, even in your absence. Max Life Insurance provides two Child Insurance Plans that are Max Life Future Genius Education Plan and Max Life Shiksha Plus Super.

6. Retirement Plans: Max Life offers one of the best retirement plans in India that will help you meet your post-retirement financial needs. Max Life Insurance provides three retirement plans namely Max Life Forever Young Pension Plan, Max Life Guaranteed Lifetime Income Plan and Max Life Perfect Partner Super.

7. Group Plans: The group plans by Max Life are specifically designed for financial institutions/banks/employers, in order to assist their members in getting cost-effective plans and to safeguard their future. Max Life Insurance offers several group plans namely Max Life Group Saral Suraksha Plan, Group Term Life Platinum Assurance Plan, Max Life Group Credit Life Premier, Max Life Group Gratuity Premier Plan, Max Life Group Super Life Premier in LIEU of EDLI, Max Life, Max Life Group Super Life Premier, Max Life Pradhan Mantri Jeevan Jyoti Bima Yojna, and Max Life Group Credit Life Secure.