About Max Term Insurance
Max Life Insurance is one of most well-known private-sector life insurance companies in India. Founded in the year 2000, the company started operating in 2001 with the goal of becoming the most admired life insurance company In India by protecting financial requirements of the customers. The company works towards delivering a ‘differentiating’ experience by following the values of empathy, transparency, and accountability. At present, the company has 269 offices where the employees work towards creating a better insurance experience for the customers.Max Life Insurance had a high claim settlement ratio of 99.35 % in the financial year 2020-2021. This shows how properly the company handles claims.
Currently, the company is offering 5 term insurance plans that offer much needed financial protection to the insured’s family in the misfortunate event of his/her death.This plan helps the family to pay off debts such as a home loan or a car loan, as well as protecting their existing assets for the future. Young individuals, parents, and married individuals can all benefit from the term insurance plans offered by the company.
The company currently offers three term insurance policies that provide much-needed financial protection to the insured's family in the unfortunate event of his or her death.These plans help the family to pay off debts such as home loan, car loan, etc, and also keep their existing assets secured for the future. The company offers term insurance plans for young individuals, parents, as well as newly married individuals.
Types of Max Life Term Insurance Plans
Max Life offers the following term insurance plans to its customers at affordable premiums:
- Max Life Super Term Plan
- Max Life Online Term Plan Plus
- Max Life Premium Return Protection Plan
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Claim Process at Max Life Term Insurance
Claim IntimationIn the case of death of the life assured, a claim intimation to the insurance company must be made as early as possible.
Submission of DocumentsClaim form, death certificate, original policy document, and more documents must be submitted to ensure smooth claim settlement.
Claim EvaluationOnce the documents are submitted, the insurance company will conduct thorough evaluation of the claim filed.
Claim SettlementIf claim request is approved, claim settlement is done within 30 days. If additional investigation is required, it make take 6 months.
Why to Buy Term Insurance Policy Online from InsuranceDekho
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FAQ About Max Life Term Insurance
Why should I choose a Max Life Term Insurance Plan?
Max Life Insurance is a reliable life insurance provider that offers several features and benefits in its term insurance plans. Apart from this, the company handles the claims well. Also, the insurance company offers high long-term coverage to policyholders which is available till the age of 85 years.
How much Max Life Term Life cover do you need?
As a basic rule, one should buy term life cover up to 10-12 times of their annual income.
What is the grace period of the Max Life Term Insurance Plans?
A grace period of 30 days from the premium due is allowed according to the guidelines by the Insurance Regulatory Authority of India (IRDAI).
Can I change the duration of my Max Life Term Insurance plan after the policy is issued to me?
No. The duration of Max Life Term Insurance cannot be changed once the policy is issued.
Are Non-Resident Indians (NRIs) allowed to purchase Max Life Term Insurance Policy?
Yes, Non-Resident Indians (NRIs) can purchase Max Life Term Insurance if they are Indian citizens, have at any time held an Indian passport, or a person who is legally wedded spouse of an Indian citizen.