Max Life Insurance FAQs

According to the Insurance Regulatory Development Authority of India (IRDAI), a grace period of 30 days from the premium due date is allowed. During the grace period, Max Life Insurance will accept the premium without interest.

You are required to submit an original policy pack, surrender form, copy of ID proof, and a cancelled cheque with a pre-printed name or copy of bank passbook with banker's attestation on account details in surrender request in case of NEFT.

The customer helpline number of Max Life Insurance is 1860 120 5577.

Max Life Insurance had an impressive claim settlement ratio of 99.22% in FY 2019-2020.

In the case of the ULIP product, Max Life Insurance will send you policy statements from time to time to keep you informed on the performance of your policy fund. You can also log on to the Max Life Insurance customer portal to view your policy performance.

No, it can not be assigned in that case.

To process maturity claims under Max Life insurance plans, a cancelled cheque with a printed name or a bank passbook with banker’s attestation, Form M and original policy pack and in case of NEFT is required.

Yes, Max Life Insurance can get your premium collected from your house within 7 days from the date when you place a request with Max Life Insurance (this facility is available only in selected cities). A request for payment collection can be raised by calling Max Life Insurance on their customer helpline toll-free number 1860 120 5577 or sending them an email at service.helpdesk@maxlifeinsurance.com.

You can avail policy loan of up to 90% of the cash surrender value (if your policy has a surrender value). The policy loan can be taken for active policies, after the completion of three policy years. But you can not avail of loan for Max Life Term Plans and Max Life Unit Linked Insurance Plans.

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.

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.

You will receive the claim amount as per the option chosen by you while submitting claim documents.

The Claim Settlement ratio of Max Life for the Financial Year 2019-20 was 99.22%.

If the nominee dies or has not been mentioned in the policy, your family members will have to produce proof establishing their right to claim the policy benefit.

You can request a claim online by visiting Max Life Insurance website and click on customer login and selecting claims request then click on get started. This will lead you to a page where you can enter the required information and upload required documents and submit to make a request.

Max Life Insurance offers Term Plans, Health Plans, Child Plans, Retirement Plans, ULIP Plans, Savings Plans and Group 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.

Max Life Term Insurance offers high coverage at affordable premiums, protection from illness (optional), long term coverage and disability benefits.

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.

Yes, you can change your mode of premium payment on the policy anniversary. You can avail of this option by sending Max Life Insurance a signed form.

Yes, you can add riders to your Max Life Insurance Plan by sending a filled policy amendment request form. You can also remove the rider from your plan. For further details, you can contact Max Life Insurance at customer helpline number -1860 120 5577

You can change or make your nomination anytime during the benefit period of the policy or by filling out the policy amendment request form. You can change your address by filling out the policy amendment form along with the address proof document.

You can get your premium receipt by contacting Max Life Insurance customer care helpline number-1860 120 5577 or you can visit the customer care section on the Max Life Insurance website and download Premium Receipt.

The following services can be accessed over Max Life Insurance helpline number 1860 120 5577- Change of address, change of bonus options, change of payment premium mode and change of contact details.

You can cancel your policy by visiting any nearest Max Life Insurance branch, online cases can be considered through registered email id.

The documents which are required at the time of cancellation of the policy are -Printed copy of the Cancelled Cheque with name and account number. (If not printed, copy of the bank passbook/statement with printed account holder details), Original Policy pack and self-attested ID proof.

The policy can be revived within the revival period as mentioned in the policy contract, you have to send Max Life Insurance a filled out health declaration form, and provide evidence of insurability acceptable to Max Life as per their underwriting practices. All your overdue premiums and unpaid charges would be paid if any.

Anybody between the age group of 18-65 can purchase Max Life Insurance policies in India as per the terms and conditions mentioned by the insurance company.

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.

Factors that affect the premium calculation for Max Life Life Insurance Plan are age, gender, medical history, geographic location, BMI Index and lifestyle of a person who is purchasing the insurance plan.

While calculating the premium you can customize your plan by choosing the add-ons from the options provided and you can select your total coverage amount.

The payout options offered by Max Life Insurance are one-time lump sum payout, one-time lump sum+fixed monthly payout and one-time lump sum+increasingly monthly payout.