Max Life Insurance Benefits
|Claim Settlement Ratio||99.35%|
|Customer Care||9:00 AM to 6:00 PM|
|Death Benefit Paid For||15,342 Policies|
|Total Death Benefit Paid||562.54 Crore|
Benefits of Max Life Insurance
Max Life Insurance is a joint venture between Max Financials Services Ltd. and Mitsui Sumitomo Insurance Co.Ltd. Formed in the year 2000, the insurance company provides a wide range of life insurance products such as term insurance, unit-linked plans, retirement plans, participating and non-participating plans, child plans, health pension, annuity, savings, protection, and growth plans to individuals and groups. The main objective of Max Life Insurance is to make the claim process quick and seamless. Max Life insurance believes in empathy, accountability, and being transparent to its customers and their family members.
Why To Buy Max Life Insurance?
Following are the reasons to buy Max Life Insurance:
- Affordable Protection: Max Life Insurance provides comprehensive life cover on the payment of relatively low premiums. Some plans of Max Life Insurance include both Death Benefit and Maturity/Survival Benefit, and some of the plans serve the dual purpose of life cover and investment, enabling you to plan multiple financial objectives well in advance.
- High Claim Settlement Ratio: Companies with a high claim settlement ratio can be trusted while purchasing insurance plans. Max Life Insurance has a 99.22% claim settlement ratio in FY 2019-20. CSR refers to the claims that an insurance company settles against the ones it had received during a financial year. The higher the CSR, the higher are the chances of getting your insurance claim paid.
- Wide Range of Products: Max Life Insurance offers a wide range of comprehensive plans to cater to the requirements of the customers. Every plan has its own benefits so the customer can choose from the wide range of plans that is best suitable and convenient for them.
- Customizable Payouts: Some plans of Max Life Insurance offer flexible premium payouts options such as One Time Lump Sum Payout, One Time Lump Sum Fixed Monthly Payouts, and One Time Lump Sum+Increasing Monthly Income.
- Award-Winning Services: Max Life Insurance has won several accolades. Max Life Insurance was awarded the “Best Term Plan Company of the Year'' by CMO Asia Awards. It has been awarded “Disruptor Technology Innovator of the year” by ET BFSI Excellence Awards 2019. It has been awarded “Claim Service Leader” by CMO Asia Awards. According to Economic Times, Max Life was ranked 24 in India’s Top 100 Companies to Work for as recognized by Great Place to Work Institute 2020.
- Exceptional Customer Services: The Max Life insurance company values its customers and provides exceptional customer services. Max Life Insurance has reshaped the insurance industry with “Industry-first modifications” such as it is the first and only life insurance company in India to implement “Lean Methodology Of Service Excellence” for better claim settlement. It is the first company to provide customer friendly provision of a “Free Look period” of 15 days to the customer and also the first life insurance company in India to provide 24x7 assistance to their valued customers over the phone.
- Tax Benefits and Exemptions: Under Max Life Insurance Plans, you are entitled to certain tax benefits on your premiums and maturity benefits. These benefits will be as per The Income Tax Act at the time of payment of premiums or receipt of benefits, which are subject to change.
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Latest News on Max Life Insurance
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Claim Process at Max Life Insurance
Claim IntimationIn the event of the death of the life assured, the insurance company should be intimated as early as possible.
Submission of DocumentsFor easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
Claim EvaluationAfter successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
Claim SettlementIf claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.
FAQ About Max Life Insurance
Why should I choose Max Life Insurance?
Max Life insurance has a wide range of comprehensive plans to choose from according to your budget. Max Life Insurance has a high Claim Settlement Ratio of 99.22% FY 2019-20. Max Insurance provided excellent customer care service.
What all life insurance plans does Max Life insurance offer?
Max Life Insurance offers Term Plans, Health Plans, Child Plans, Retirement Plans, ULIP Plans, Savings Plans and Group Plans.
What is the grace period of Max Life Insurance plans?
Max offers a grace period of thirty 30 days from the premium due date yearly and 15 days in case of Monthly mode for payment of each premium. The policy will not lapse during the grace period and will lapse thereafter if no premium is paid.
What are the benefits of buying Max Life Term Insurance?
Max Life Term Insurance offers high coverage at affordable premiums, protection from illness (optional), long term coverage and disability benefits.
How to check Max life Insurance policy status?
If you are an existing policyholder you can simply log in to the website of the company using a registered user ID and Password and check your status online.
Max Life Insurance Contact Details
Insurance Dekho755 1196 989Mon to Sun 10:00 AM to 7:00 PM
Max Life Insurance1860-120-5577Mon to Sat 9:00 AM to 6:00 PM