Axis Max Life is a joint venture between Max Financial Services (80.01%) and Axis Bank with its subsidiaries (19.99%). ...Read More
Axis Max Life is a joint venture between Max Financial Services (80.01%) and Axis Bank with its subsidiaries (19.99%). It provides comprehensive protection and long-term savings life insurance solutions. ...Read Less
99.8%
Claim settlement ratio
₹38,877 crore
Annual Premium
1.94x
Solvency ratio
🛡️ IRDAI Approved
⭐ 4.6/5 · 969 reviews
✅ 99.8%claim settlement ratio
📊 1.94xsolvency ratio
🌐 426pan-India
What you get with Axis Max Life Insurance
The headline features and policy mechanics, at a glance.
Annual Premium ₹38,877 crore
Affordable premium options starting from entry-level to comprehensive whole-life protection.
99.8% claim settlement ratio
Industry-leading approval rate on eligible life insurance claims in the most recent fiscal year.
1.94x solvency ratio
Well above IRDAI's 1.5× floor — strong indicator of long-term claim-paying ability.
426 pan-India presence
Branch offices and claim service centres across India for easy policy servicing.
Axis Max Life Insurance (formerly Max Life Insurance) is a private life insurer in India, a joint venture between Max Financial Services and Axis Bank. It rebranded from Max Life to Axis Max Life on 13 December 2024 and offers term insurance, savings plans, ULIPs, child plans, and retirement plans.
In FY 2025-26, its individual death claims paid ratio was 99.80%, and its gross written premium was ₹38,877 crore. Its assets under management crossed ₹2 lakh crore (as of 30 June 2026), and it operates 426 branches across India. Claims can be registered online, at a branch, or by calling 1860 120 5577.
Axis Max Life suits people who want a bank-backed insurer for term protection, or a plan that combines cover with guaranteed or market-linked savings. Compare its plans below to find the right fit.
The company provides comprehensive protection and long-term savings life insurance plans such as:
Axis Max Life Insurance Company aims to address your insurance needs by offering:
Affordable premiums
Flexible policy tenures
Wide range of insurance solutions
Choice of premium payment frequency
Tax savings
Video reviews
Max Life Insurance Plans
In this video, we break down the various insurance plans offered by Max Life, including term insurance, endowment plans, ULIPs, whole life insurance, and specialized options for children and retirement.
Features of Axis Max Life Insurance Plans
Affordable premiums, making them accessible to a wide range of customers.
Flexible policy tenures, allowing policyholders to choose as per their requirements.
Grace period for missed premium payments: 15 days for monthly payments, and 30 days for quarterly, half-yearly, and yearly payments.
Choice of premium payment frequency: monthly, quarterly, half-yearly, or yearly options.
Life insurance products for individuals of all age groups.
Axis Max Life Insurance Performance Over the Last 5 Years
Financial Year
Gross Written Premium (₹ Cr)
YoY Growth
Individual Death Claims Paid Ratio
Death Claims Paid
Assets Under Management (₹ Cr)
Solvency Ratio (31 March)
Expert Advice
2025–26
38,877
17.0%
99.80%
20,529 (₹1,641 Cr)
1,89,795
1.94x
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2024–25
33,223
12.5%
99.70%
20,170 (₹1,430.80 Cr)
1,75,072
2.01x
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2023–24
29,529
16.5%
99.65%
19,569 (₹1,254.39 Cr)
1,50,836
1.72x
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2022–23
25,342
13.1%
99.51%
–
~1,20,000
1.90x
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2021–22
22,414
–
99.34%
–
–
2.01x
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Source: Axis Max Life FY26 and FY25 results, claims paid ratio press releases (FY23–FY26), CRISIL rating rationales (June 2023, June 2026). Axis Max Life's premium grew 73% in four years, from ₹22,414 Cr to ₹38,877 Cr, and its claims paid ratio has risen every year to a record 99.8% in FY 2025-26.
AUM crossed ₹2 lakh crore on 30 June 2026.
9.35 lakh policies sold in FY 2025-26.
10.4% private market share in FY 2025-26.
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Pros and Cons
Pros
Cons
99.8% claim settlement ratio in FY 2025–26, above 99% for seven consecutive years
Solvency ratio fell from 2.01x to 1.94x in FY 2025–26
InstaClaim™ aims to pay eligible death claims up to ₹1 crore within 24 hours
Smaller premium base than HDFC Life, ICICI Life, SBI Life and LIC
Smart Term Plan Plus offers 6 variants, including return of premium and whole life
Multiple plans and variants make choosing a policy more complex
Terminal illness payout up to ₹1 crore is available under its main term plans
Customer care line (1860) is chargeable, not toll-free
AUM exceeds ₹2 lakh crore, with backing from Max Financial and Axis Bank
Special Exit Value requires a policy term of 40 years or more
Exclusions of Axis Max Life Insurance Plans
Accidental death benefits and accident riders do not cover deaths caused by adventure sports, drug or alcohol abuse, or criminal acts. The base life cover excludes suicide only during the first 12 months.
A claim may be rejected if a pre-existing disease was not disclosed in the proposal form. This applies within the first 3 policy years.
If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to the nominee. The nominee gets at least 80% of the premiums paid, or the surrender value, whichever is higher.
Waiting Periods in Axis Max Life Insurance Plans
Unlike health insurance, life insurance policies generally do not have extensive waiting periods for various illnesses. The primary waiting period in Axis Max Life Insurance plans typically relates to the suicide clause.
Suicide Clause
If the policyholder commits suicide within the first 12 months from the policy's inception or revival date, the death benefit will not be paid. In such cases, the nominee receives at least 80% of the premiums paid or the surrender value, whichever is higher. Axis Max Life term plans refund 100% of premiums paid. It is important to review your specific policy document for exact terms and conditions regarding waiting periods and exclusions.
Riders You Can Avail With Axis Max Life Insurance Plans
Name of the Rider
Benefits
Axis Max Life Waiver of Premium Plus Rider
It waives all future premiums, and policy benefits remain the same in case of disability, dismemberment, or diagnosis of a listed critical illness.
Axis Max Life Accidental Death and Dismemberment Rider
Pays an extra benefit if death or dismemberment is caused by an accident.
Axis Max Life Term Plus Rider
Adds extra life cover over the base plan
Axis Max Life Critical Illness and Disability Rider
If the policyholder is diagnosed with any critical illness mentioned in the brochure, rider benefits are paid.
Documents Required to Buy an Axis Max Life Insurance Policy
Here is the list of documents required to buy an Axis Max Life Insurance Policy:
Photo ID Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
Age Proof: Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
Address Proof: Any one of the following: Utility bill, passport, voter ID, ration card.
Medical Records: Medical records of the policyholder, if requested.
Income Proof: Any one of the following: Bank statement, last three months' salary slips (if salaried).
How to Calculate Premiums
Visit the official website of Axis Max Life Insurance Company.
Select the type of plan you are interested in (e.g., Term plan, Investment plan, ULIPs).
A new window will open. Enter your basic details, including name, contact number, email address, occupation, and residence details, into the premium calculator.
The system will display the estimated premium amount based on your inputs.
If satisfied, you can proceed to purchase the plan, and a payment confirmation will be sent to your registered email address.
Term Insurance Premium: Axis Max Life vs Peers
Profile
Axis Max Life Smart Term Plan Plus
HDFC Life Click 2 Protect Supreme Plus
ICICI iProtect Smart Plus
Bajaj Life eTouch II
Expert Advice
30, Male
₹12,296
₹13,436
₹12,299
₹12,268
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30, Female
₹10,452
₹11,421
₹10,063
₹10,357
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35, Male
₹16,114
₹16,414
₹15,148
₹15,733
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40, Male
₹20,075
₹18,787
₹20,621
₹20,697
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45, Male
₹27,557
₹27,092
₹28,302
₹31,263
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₹1 crore cover till age 60, non-smoker, as of October 2026
How to File Axis Max Life Insurance Claims
Every claimant/nominee is assigned a dedicated Claims Relationship Officer to assist through the entire process. The life insurance claim settlement process at Axis Max Life Insurance involves the following steps:
Online Process
Claim Intimation: Inform the company about the incident via various channels: email ([email protected]), customer care number (1860 120 5577), online claim form on its website, or by visiting the nearest branch. A claim reference/intimation number will be provided upon successful registration.
Document Submission: You will be requested to submit the following documents to process the claim:
In case of natural death: death claim form, death certificate issued by the local municipality, original policy documents, claimant's identity & residence proof, medical records, and nominee's account details.
In case of accidental death: the same documents along with an FIR and post-mortem report.
Claim Settlement: After receiving all documents and claim forms, the insurer will verify the details. If additional details are required, they will contact you via call or email. Upon successful completion, the claim will be settled, and the amount will be transferred to the nominee's bank account, with communication via call or email.
Offline Process
Axis Max Life Insurance Company's claim settlement procedure can also be initiated by visiting a local Axis Max Life branch office. You can find branch details on their website. Submit the required documents in hard copy at your nearest branch to file the claim.
Instant payout of ₹25,000–₹2 lakh within 1 working day of claim, terminal illness cover up to ₹1 crore, Special Exit Value for terms of 40+ years
High-income buyers seeking large cover
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Smart Secure Plus (SSP)
18–65 years (44 for Pay Till 60)
85 years
₹20 lakh to no limit
10–67 years
Return of Premium option, two 12-month premium breaks, increasing cover up to 200%, joint-life option
Buyers seeking premium refunds or payment flexibility
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Saral Jeevan Bima
18–65 years
70 years
₹5 lakh–₹25 lakh
5–40 years
IRDAI-standard term plan with uniform basic terms across insurers
Buyers seeking simple, basic life cover
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Axis Max Life vs HDFC Life vs ICICI Life vs Tata AIA vs SBI Life vs LIC
Parameter
Axis Max Life
HDFC Life
ICICI Life
Tata AIA Life
SBI Life
LIC
Claim Settlement Ratio (FY 2025–26)
99.80%
99.72%
99.34%
99.45%
96.81%
98.10%
Solvency Ratio (FY 2024–25)
2.01x
1.94x
2.12x
1.80x
1.96x
2.11x
Annual Premium Collected (FY 2024–25, ₹ Cr)
33,222.60
71,044.91
48,950.71
31,483.60
84,984.63
4,88,848.92
Source: PolicyX Top 10 Life Insurance Companies (October 2026). Axis Max Life has the highest claim settlement ratio of the six and a solvency ratio above HDFC Life, Tata AIA and SBI Life. It is smaller than HDFC Life, ICICI Life, SBI Life, and LIC by premium.
Conclusion
Axis Max Life Insurance (formerly Max Life) is a trusted insurer with a 99.80% claim settlement ratio and a 1.94x solvency ratio, offering term, ULIP, savings, retirement and child plans. Read the policy exclusions and disclose your medical history accurately before buying. Compare plans and get a free quote on PolicyX, or call 1800-4200-269.
For more information about Axis Max Life Insurance Company, visit PolicyX.com or call us at 1800-4200-269. Our insurance experts will understand your unique needs and help you choose a plan that best suits you.
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Why Choose PolicyX.com?
Don't just take our word for it — check out what our happy customers say about us!
All my claims were rejected for 3 years. Then, I received a text from PolicyX team, who noticed that my claims hadn't been settled. They managed to get my claims settled, totalling ₹4.5 L. I really appreciate the efforts of the PolicyX advisors for their support in settling my claims.
Ravindra Singh
I highly appreciate the help of the PolicyX team for settling my claim of Rs. 5 Lakhs with zero deductions. I took a policy online from them in March 2024. As a customer, it's been a great experience throughout the process.
Priti Varshney
I'm very satisfied because my claim of over ₹2 L has been settled as a result of your team effort. However, I was very upset with the insurer, who delayed the claim for almost 2 months. But with your support and interaction, the claim was settled within 30 days & I appreciate it a lot.
Nisha Mary
I bought my health policy from PolicyX, and so far, it's been a very pleasant experience with the team. I really appreciate the help for renewing my health policy. I look forward to continuing my relationship with PolicyX and recommend it to everyone.
Ajay Shah
PolicyX has been a savior during a medical emergency in my family recently. My wife was admitted in the hospital, and the insurance company declined my claim request. The PolicyX team handled the situation very well and I received the claim right on time.
Vijay Rathod
I purchased a health plan for the very first time and the support by PolicyX is commendable. They helped me with the paperwork, explained the policy details to me with patience and supported me at every step of policy buying. A big thanks to you guys.
Uma Mahajan
Frequently asked questions
The 17 most-asked questions about Axis Max Life Insurance, answered.
You can change your nominee within the benefit period of your active policy. Alternatively, you can fill out the policy amendment request form.
Axis Max Life allows policyholders to change their premium payment mode on policy anniversaries of their active policies.
Yes, Axis Max Life sends reminders before debiting a policyholder’s account to ensure that she/he has sufficient balance.
The free look period is 30 days from the date you receive the policy, for both online and offline policies.
To surrender the Axis Max Life Insurance policy, you need to submit the duly filled surrender form with the reason for surrender at the nearest branch office of Axis Max Life Insurance Company, along with the following documents: Original Policy documents, cancelled cheque, ID proof, and updated contact details.
Policyholders can pay the premium for Axis Max Life insurance plans through any of the following modes: Credit Card, Debit Card, Net Banking, UPI, RTGS, NEFT, ECS, EBPP.
Listed below are some options to link the Aadhaar card with the Axis Max Life policy: SMS the Aadhaar number and policy number to 5424243. Send an email to the company, call on 1860-120-5577 Walk-in to the nearest branch of the Axis Max Life Insurance.
Below are the documents that are required to process the maturity claim: Original Policy Pack. Copy of ID proof. Form M. Cancelled cheque or a copy of the bank passbook.
Axis 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.
Through its InstaClaimTM initiative, Axis Max Life endeavours to pay eligible death claims up to Rs. 1 Crore in only 24 hours.
Eligible policies that have completed three continuous years. The claim does not warrant field verification. All mandatory documents are submitted. Claim amount on all eligible policies is up to Rs. 1 Crore
Call 1860-120-5577 (9 AM–6 PM, Monday to Saturday), WhatsApp +91-7428396005, or email [email protected] for claims.
Smart Term Plan Plus suits most buyers, with 6 variants and cover from ₹5 lakh. STEP suits high-cover buyers and pays a part of the claim within 1 working day. Smart Secure Plus suits people who want premiums back or premium breaks.
Axis Max Life has a slightly higher claim settlement ratio (99.80% vs 99.72%) and solvency ratio (2.01x vs 1.94x, FY 2024-25). HDFC Life is more than twice its size by premium.
99.8% for individual death claims in FY 2025-26, up from 99.70% in FY 2024-25.
Max Financial Services holds 80.01%, and Axis Bank, with its subsidiaries, holds 19.99% (June 2026).
Yes. Max Life Insurance was renamed Axis Max Life Insurance on 13 December 2024. Existing Max Life policies continue without any change.
Customer satisfaction
Aggregate ratings from 969 verified PolicyX customers who bought a Axis Max Life Insurance plan.
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