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Max Life Insurance Company is a joint venture between Max Financial Services and Axis Bank. Max Life Insurance provides comprehensive protection and long-term savings life insurance solutions. Max Life Insurance plans are specifically designed to fulfil the needs of its customers.
Max Life Insurance not only offers a wide array of plans and policies that can help in meeting the financial requirements of an extensive customer base, but it also has an efficient distribution mechanism in place in addition to multi-channel distribution partners. Max life insurance company offers inclusive savings, ULIP, and retirement plans, to insurance seekers. The Max life insurance policy is carefully crafted to cater to different individuals as per their financial requirements.
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With so many life insurance companies available in India, choosing an ideal one can be a hectic task. It is important that you choose the right insurer and the right plan that will best suit the potential needs of your family. So, before choosing any life insurance company, you need to check some important factors of the insurance company such as claim settlement ratio, solvency ratio, annual premium and operating network.
To help you analyze the performance of Max Life Insurance company, we have explained the above-mentioned factors to give an insight into the company's performance:
Max Life Insurance offers Life Insurance and Investment plans with several plan options. These insurance policies offered by Max Life come with riders that users can purchase to enhance their coverage.
Let's look at a quick overview of the insurance plans offered by the company.
Max Life Term Insurance Plans provide financial protection to the family in the unfortunate event of the policyholder's death during the term of the policy.
Plan | Entry Age | Tenure | Minimum Sum Assured |
Max Life Smart Secure Plus Plan | Minimum Age:- 18 years Maximum Age:- Regular Pay:- 65 years Pay till 60:- 44 years |
10-67 years | Base Death Benefit Rs. 20,00,000 For Secondary Life, in Joint Life: Rs. 10,00,000 |
Know More About: Max Life Term Insurance Plans
Child insurance plans are a blend of insurance and investment that assures a secure future for your child. These plans are ideal to create a corpus to fund the child's education.
Plan | Entry Age | Tenure | Minimum Sum Assured |
Max Life Future Genius Education Plan | Minimum:- 21 years Maximum:- 45 years |
13-21 years | 8 Pay variant: Rs. 3,27,000 Limited Pay variant: Rs. 2,12,000 (subject to minimum premium limits) |
Max Life Shiksha Plus Super | Minimum:- 21 years Maximum:- 50 years |
5 Pay Variant:- 10 years Regular Pay Variant:- 15 to 25 years |
5 Pay: Rs 500,000 Regular Pay: Annual Mode: Rs. 2,50,000 Non-Annual Mode: Rs. 4,80,000 |
Plan | Entry Age | Tenure | Minimum Sum Assured |
Flexi Wealth Advantage Plan | Minimum:- 91 days Maximum:- 70 years |
10 to 30 | Wealth variant: Single Pay: Rs. 250,000 Limited Pay: Rs. 350,000 Regular Pay: Rs. 1,75,000 Whole life variant: Limited Pay: Rs. 700,000 |
Platinum Wealth Plan | Minimum:- 91 days Maximum:- 60 years |
Single Pay: Policy Term of 10 years Limited Pay: Option to choose Policy Term from 10 years to 20 years Regular Pay: Option to choose Policy Term from 10 years to 20 years |
Single Pay: Rs. 2,50,000 Limited Pay & Regular Pay ₹ 20,00,000 |
Fast Track Super | Minimum:- 91 days Maximum:- 60 years |
10 years for Single Pay / 5 Pay and 20 years for Regular Pay | - |
Savings & Income plans support disciplined savings and make sure that the assured gets constant returns during the entire policy term. A life cover accompanies the plans, and the benefit is paid as monthly income or a lump sum amount (per the policyholder's choice). Max Life offers the following savings & income plans:
Plan | Entry Age | Maximum Maturity Age | Policy Term |
Smart Wealth Plan | Minimum:- 91 days Maximum:- 65 years |
80 years | N/A |
Whole Life Super | Minimum:- 18 years Maximum:- 60 years |
100 years | 100 years minus the age at entry of the life insured (age last birthday). |
Savings Advantage Plan | Minimum:- 91 days Maximum:- 65 years |
80 years | 10-30 years |
Assured Wealth Plan | Minimum:- 91 days Maximum:- 60 years |
70 years | For PPT 5: 10, 15, 20 years For PPT 8: 16 years For PPT 10: 15, 20 years |
Monthly Income Advantage Plan | Minimum:- 18 years Maximum:- 55 years |
90 years | 10/20/30 years |
Retirement plans are insurance products designed to provide you with financial security for retirement life. The plan also secures your spouse and makes him/her financially independent in our absence. Max Life offers a range of retirement plans. Let’s take a look at them.
Plan | Entry Age | Vesting Age | Policy Tenure |
Max Life Saral Pension | Minimum:- 40 years Maximum:- 80 years |
NA | NA |
Max Life Forever Young Pension Plan | Minimum:- 30 years Maximum:- 65 years |
Minimum:- 50 years Maximum:- 75 years |
Minimum:- 10 years Maximum:- 75 years, less entry age |
Max Life Guaranteed Lifetime Income plan | Minimum:- 0 years Maximum:- 80 years |
Minimum:- 1-year Maximum:- 90 years |
NA |
Maxlife Life Perfect Partner Super | Minimum:- 91 days Maximum:- 55 years |
NA | 7,10,15 & 20 years |
Max Life Smart Fixed-return Digital Plan | NA | NA | NA |
Every claimant/nominee is assigned a dedicated Claims Relationship Officer who helps through the entire process. The life insurance claim Settlement process at Max Life Insurance involves the following three steps:
Documents required to register a claim are:
Additional documents such as death summary attested by hospital authorities of FIR and post mortem report are crucial in case of accidental deaths.
Note: Depending upon the TnCs of the plan, you might be required to submit some additional documents as well. We recommend that you should check the specific plan brochure for that.
Max Life Insurance Co. Ltd 11th floor, DLF Square, Jacaranda Marg, DLF City Phase II, Gurugram, Haryana 122002
Online Plus Helpline:
online@maxlifeinsurance.com
SMS: SMS 'LIFE' to 5616188
NRI Helpdesk:
nri.helpdesk@maxlifeinsurance.com
Online Plus Helpline:
0124 648 8900
Customer Service Helpline:
1860 120 5577
NRI Helpdesk:
0124 5098162; 0124 4905150
* Customers can also chat or write to the company to register feedback, queries, etc.
As per the IRDAI report of 2021-22, Max Life Insurance has a claim settlement ratio of 99.51%.
Through its InstaClaimTM initiative, Max Life endeavours to pay eligible death claims up to Rs. 1 Crore in only 24 hours.
You can change your nominee within the benefit period of your active policy. Alternatively, you can fill out the policy amendment request form.
Max Life allows policyholders to change their premium payment mode on policy anniversaries of their active policies.
Yes, Max Life sends reminders before debiting a policyholder's account to ensure that she/he has sufficient balance.
The free look period for offline policies is 15 days, whereas, for online policies, it is 30 days.
To surrender the Max Life Insurance policy, you need to submit the duly filled surrender form with the reason for surrender at the nearest branch office of Max life insurance company along with the below-mentioned documents:
Policyholders can pay the premium of max life insurance plans through any of the below mentioned modes:
Listed below are some options to link Aadhar card with the Max Life policy:
Below-mentioned are the documents that are required to process the maturity claim:
Max Life Insurance Company Limited will send you a notification before debiting the premium from your account to ensure that you have a sufficient balance in your bank account.
Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.
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Piyush
Raipur
May 1, 2023
I seek help from PolicyX when it comes to purchasing any kind of insurance because they provide me with the best quotes and options for insurance
Priya Sharma
Jaipur
December 14, 2022
PolicyX has a smooth service from booking policy to verification. Employees are very patient and have good knowledge and help you throughout the process. Had great experience dealing with them
Somesh
Agra
December 9, 2022
I had many confusions regarding the term policies . But Policyx has handled it well, m happy that they are my wayfarer in this journey.
Prerna Kumari
Mumbai
July 11, 2022
Good company. Presents nice term insurance plans and flexible plans also. My husband has brought one for the family.
Priya Sangwan
Mumbai
July 11, 2022
IndiaFirst Term Insurance company ensures that your family s needs are looked after. One of the best companies offers a term plan per your needs.
Priyanshi Deewan
Hyderabad
July 6, 2022
I recently received the claim amount of the policy that my husband had brought for us. I am glad that the company understands the needs of its customers and their families. Well done Canara HSB...
Rishabh Kumar
Delhi
July 6, 2022
I bought a term plan with Canara HSBC for the protection of my family and have been satisfied with the benefits received. It is simple and easy to buy their plans.
Samarth Gaur
Chennai
July 6, 2022
I am very happy with the term plans offered by the Canara HSBC Life Insurance company. The plans offer comprehensive coverage and I am sure will support my family after my demise.
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