About Max Life Insurance

Founded in 2000, Max Life Insurance Company is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. It is one of the leading life insurance companies that offer a wide range of life insurance products like long-term savings, protection, child insurance, retirement, investment, and group solutions. They are delivered by highly talented advisors (agents) and multi-channel distribution partners across the country.

Highlights:

**Last Updated on 13-01-2021

Max Life Insurance Plans

1. Max Life Term Insurance Plans

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. Let's take a look at the list of Max Life term insurance plans:

i) Max Life Smart Term Plan

Max Life Smart Term Plan is an excellent and one of the flexible plans that cater to people from different walks of life. The plan offers comprehensive protection against critical illness, disability, death and provides full financial protection to your family in case of your death.

Features:

• The plan offers multiple death benefit options.
• The plan offers a 5% loyalty discount for existing policyholders. This is only eligible if your policy is in the paid-up stage or premium paying stage.

Eligibility:

**Last Updated on 13-01-2021

The values may vary as per the chosen plan option

ii) Max Life Premium Return Protection Plan

Max Life Premium Return Protection Plan protects your family's future from life's uncertainty as well as offers the benefit of guaranteed return of total premiums paid at the end of the policy term in case of survival of the policyholder.

Features:

• The plan offers comprehensive protection along with an inbuilt accidental death benefit.
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• The plan offers an additional discount on female lives.

Eligibility:

**Last Updated on 13-01-2021

iii) Max Life Super Term Plan

Max Life Super Term Plan takes care of your family's financial needs in case of your unfortunate death. The plan comes with several benefits and ensures your family can meet the increasing expenses in your absence.

Features:

• The plan comes with an increasing life cover option (at a 5% simple rate) that helps your family to meet the ever-increasing expenses.
• The nominee of the policyholder has the option to receive the payout in lump-sum or a mix of monthly income and lump-sum.

Eligibility:

**Last Updated on 13-01-2021

iv) Max Life Online Term Plan Plus

Max Life Online Term Plan Plus is standard term insurance, which can be purchased online. An individual can compare, analyze, and then choose the needed term insurance coverage without stepping out of his house.

Features:

The plan offers three variants to choose from:

• Basic Life Cover
• Basic Life Cover + Monthly Income
• Basic Term Life Cover + Increasing Monthly Income

One can enhance his protection through additional riders.

Eligibility:

**Last Updated on 13-01-2021

2. Max Life Child Insurance Plans

Child insurance plans are a blend of insurance and investment that assures a secure future for your child. Such plans are an ideal way to create a corpus to fund crucial milestones of your child's education. These plans also offer life cover as a lump sum payment at the end of the policy term:

Let's take a look at the list of Max Life child insurance plans:

i) Max Life Future Genius Education Plan

The Max Life Future Genius Education Plan helps the parents to fulfill their child's higher education needs. The plan allows parents to choose the premium payment term, policy term & the moneyback option depending on the education needs of their child.

Features:

• One can opt for riders for additional protection
• The plan also offers maturity benefits, where the accrued paid-up additions (if any) and terminal bonus (if any) are paid.

Eligibility:

**Last Updated on 13-01-2021

ii) Max Life Shiksha Plus Super Plan

Max Life Shiksha Plus Super offers financial security and allows you to plan better for your child's future. Along with covering your child's education needs, the plan comes with comprehensive life insurance coverage that safeguards the child's future in case of the unfortunate demise of the parent.

Features:

• At the end of every year, the plan guarantees the benefit of loyalty additions starting from the 11th policy year
• The plan offers a choice of 6 (six) funds for investors with different risk appetites.
• The plan offers the flexibility to partially withdraw funds to meet any unplanned expenses

Eligibility:

**Last Updated on 13-01-2021

3. Max Life Health Insurance Plan

Max Life Health plans ensure the treatment of complex ailments by providing adequate coverage against expenses like hospitalization, medical bills, diagnosis tests, etc.

Let us discuss the health plan offered by Max Life:

i) Max Life Cancer Insurance Plan

A cancer insurance plan by Max Life offers comprehensive protection against all stages of cancer. The plan waives off all future premiums and immediately pays 20% of the cover if the cancer is detected at an early stage. If the cancer is detected at a major stage, the plan offers the dual benefit of a lump sum payout along with an additional 10% as income for the next 5 years.

Features:

• Sum insured increases by 10% for the first 5 claim-free years at no additional cost.
• To overcome any other uncertainty of life, the plan offers additional protection through riders. One can choose the below riders for enhanced protection.

• Max Life Term Plus Rider
• Max Life Accidental Death & Dismemberment Rider
• Max Life Waiver of Premium Plus (WOP) Rider
• Max Life COVID-19 One Year Term Rider

Eligibility:

**Last Updated on 13-01-2021

4. Max Life Retirement Insurance Plans

Retirement plans by Max Life are designed to provide financial security in post-retirement life. The plan also secures your spouse and makes him/her financially independent in your absence.

Max Life offers a range of retirement plans. Let's take a look at them:

i) Max Life Forever Young Pension Plan

Max Life Forever Young Pension Plan allows the policyholders to avail the benefits of equity participation so that they can build a large retirement corpus. On the other hand, it offers a guarantee to protect your savings from market downturns.

Features:

• The plan allows the policyholders to choose the vesting age as per their requirements.
• In an unfortunate event of the demise of the policyholder during the premium payment phase, the nominee will receive the higher fund value or 105% of total premiums paid, including top-up premiums (exclusive of rider charges, if any).

Eligibility:

**Last Updated on 13-01-2021

ii) Max Life Guaranteed Lifetime Income Plan

Max Life Guaranteed Lifetime Income Plan is a non-linked general annuity plan that allows you to convert your life-saving into a lifelong regular income source. It can be a smart way to make sure that your regular income stream continues and assists you to stay on top of your expenses.

Features:

• Under the Joint-life annuity option, your partner will continue to receive income in your absence.
• One has the option to receive his income payout on a yearly, half-yearly, quarterly, or monthly basis (as per requirements).

Eligibility:

**Last Updated on 13-01-2021

iii) Max Life Perfect Partner Super Plan

Max Life Perfect Partner Super Plan takes care of your partner's financial needs (with a life cover) until you reach the age of 75 years. The plan allows you to live a carefree post-retirement life and offers 212.5% of the guaranteed sum assured on maturity (via bonuses) to secure your retirement.

Features:

• Protect your spouse's future in case of eventualities with an additional rider.
• The plan offers accrued paid-up additions and terminal bonus, and increases the total sum payable, either on the end of policy term or death of the insured.

Eligibility:

**Last Updated on 13-01-2021

5. Max Life Savings & Income Insurance Plans

Max Life Saving & Income plans make sure that the assured gets constant returns during the entire policy term. The plans are accompanied by a life cover, and the benefit is paid as a monthly income or a lump sum amount (as per the choice of the policyholder). Max Life offers the following savings & income plans:

i) Max Life Monthly Income Advantage Plan

Max Life Monthly Income Advantage Plan provides monthly income for 10 years (after a premium payment is done) to ensure that you meet the basic requirements of life.

Features:

• On the maturation date of the policy, the plan provides accrued bonuses and terminal bonus to the insured.
• On the death of the policyholder, the nominee receives the lump sum amount and the policy benefits will continue.

Eligibility:

**Last Updated on 13-01-2021

ii) Max Life Assured Wealth Plan

Max Life Assured Wealth Plan is a non-linked, non-participating individual life insurance savings plan that offers a guaranteed lump sum benefit and helps you to achieve all the milestones such as buying a new house, children's education, marriage, and peaceful retirement.

Features:

• The plan helps to build your wealth systematically and offers 6 different variants of premium payment term & policy term.
• The plan offers additional riders for enhanced protection of the base coverage.

Eligibility:

**Last Updated on 13-01-2021

iii) Max Life Guaranteed Income Plan

Max Life Guaranteed Income Plan is a savings plan, which provides you with a life cover and guaranteed payouts in the form of monthly income for a 'Payout Period' of 10 years.

Features:

• Once the policy term is completed, a policyholder will get a terminal benefit and start getting guaranteed monthly income for 10 years.
• The nominee has the option to convert his lump-sum death benefit into monthly income.

Eligibility:

**Last Updated on 13-01-2021

iv) Max Life Whole Life Super

The Max Life Whole Life Super plan helps you to raise a corpus for your family, and also offers a life cover that grows with the addition of the company bonuses.

Features:

• The plan offers a guaranteed payout along with company bonuses on the maturation date of the policy.
• If you are a victim of a terminal illness, the plan offers the terminal illness benefit, where you will be paid 50% of the guaranteed maturity sum assured (up to Rs.10 Lakhs).

Eligibility:

**Last Updated on 13-01-2021

v) Max Life POS Guaranteed Benefit Plan

Max Life POS Guaranteed Benefit Plan offers access to financial security by paying a guaranteed benefit to the life assured and his/her family during adverse circumstances.

Features:

• Grab tax benefits by paying regular premiums according to the Income Tax Act, 1961.
• The policy has a short and fixed premium payment term and policy term.

Eligibility:

**Last Updated on 13-01-2021

vi) Max Life Savings Advantage Plan

Max Life Savings Advantage Plan is a policy that provides the life assured with the benefit of savings cum life insurance coverage throughout the policy tenure.

Features:

• The plan offers flexibility to choose the premium payment term & duration of the policy to meet the financial requirements on time.
• The policy is liable (partly guaranteed) to pay a lump sum amount on completion of the maturity period.
• Tax benefits on the premium paid as per the Income Tax Act, 1961.

Eligibility:

**Last Updated on 13-01-2021

vii) Max Life Smart Wealth Plan

Max Life Smart Wealth Plan is a non-linked, non-participating individual life insurance savings plan that secures the financial future of your family and helps them to achieve their milestones through guaranteed returns.

Features:

• It offers the flexibility to choose from four plan options- Lumpsum, Long Term Income, Short Term Income and Whole Life Income
• The plan offers a comprehensive death benefit in case of the unfortunate demise of the policyholder during the policy term.

Eligibility:

**Last Updated on 13-01-2021

6. Max Life ULIP Plans

ULIPs serve the purpose of investment and protection. Below are the following ULIP plans offered by Max Life.

i) Max Life Flexi Wealth Plus

Max Life Flexi Wealth Plus is a ULIP, that offers both protection and investment benefits. The plan helps you to create wealth through systematic savings into various equity and debt fund options, and protect your family's future financially from life's uncertainties.

Features:

• A policyholder has the flexibility to choose from 10 fund options & 5 investment strategies.
• The policyholder is eligible to withdraw his funds partially (up to 12 times) once the first 5 policy years are completed.

Eligibility:

**Last Updated on 13-01-2021

ii) Max Life Fast Track Super Plan

Max Life Fast Track Super Plan helps you to plan your future finances and aims to provide insurance options with a simplistic and safe investment approach.

Features:

• The plan protects your investments against market volatility by offering a Systematic Fund Transfer and Dynamic Fund Allocation mechanism.
• Based on your risk appetite, invest in any of the 6 available fund options.

Eligibility:

**Last Updated on 13-01-2021

iii) Max Life Platinum Wealth Plan

Max Life Platinum Wealth Plan helps you to accumulate and grow your savings to achieve your long-term goals.

Features:

• The plan offers 6 fund options & 2 fund strategies to choose from.
• One can enhance his fund value through guaranteed loyalty benefits and wealth booster.

Eligibility:

**Last Updated on 13-01-2021

7. Max Life Group Insurance Plans

Max Life Group Plans are specially designed for banks, employers of an organisation and financial institutions to provide coverage to their employees and secure them financially during uncertainties. A variety of group plans by Max Life have been listed below:

i) Max Life Group Gratuity Premier Plan

The plan makes it easy for employers to fund the gratuity liabilities with the help of excellent market-linked returns. The plan shall meet your obligations under the Payment of Gratuity Act, 1972.

Features:

• With zero switching costs, policy administration charge, and redirection charge, the employer needs to pay fewer maintenance costs.
• It helps in the efficient management of large scale gratuity payments.

Eligibility:

**Last Updated on 13-01-2021

ii) Max Life Group Super Life Premier in lieu of EDLI

Max Life Group Super Life Premier in lieu of EDLI is an insurance plan that ensures financial protection to employees of an organization and is better than the Employees Deposit Linked Insurance Scheme (EDLI) Plan of EPFO.

Features:

• The plan provides financial security to the families of the employees in case of their untimely deaths.
• It's a cost-effective policy, which can improve employee retention.

Eligibility:

**Last Updated on 13-01-2021

iii) Max Life Group Super Life Premier

Max Life Group Super Life Premier is a group plan that allows flexibility to the employer and is available with add-on riders to boost the financial security of the employees and their families.

Features:

• In the case of an employee's death, his family/nominee will get a lump-sum amount.
• You can get certain tax benefits based on the prevailing tax laws.

Eligibility:

**Last Updated on 13-01-2021

iv) Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana

Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana is designed to provide life insurance coverage to the bank account holders at affordable prices.

Features:

• With low-cost insurance, this plan assists the banks to increase customer retention.
• It provides coverage against death (no matter what is the reason), where both (the premiums and cover) are fixed as per the terms and conditions of the plan.

Eligibility:

**Last Updated on 13-01-2021

v) Max Life Group Credit Life Secure Plan

Max Life Group Credit Life Secure Plan provides cover to the organization against the loan taken by a borrower in the event of the borrower's death during the policy term.

Features:

• Doesn't let financial institutions/banks from running into losses (due to non-performing NPAs) in case of borrower's death.
• The plan also benefits the borrower's family from paying-off the loan liabilities in case of an eventuality.

Eligibility:

**Last Updated on 13-01-2021

vi) Max Life Group Credit Life Premier Plan

Max Life Group Credit Life Premier Plan is well-designed for the borrowers of banks/financial organizations. It helps the family of the policyholder to repay the outstanding loan in case of his death.

Features:

• One can enhance his base policy protection by opting for additional riders.
• It does not allow banks or financial institutions to run into losses in case of default payments because of the policyholder's death.

Eligibility:

**Last Updated on 13-01-2021

vii) Max Group Term Life Platinum Assurance Plan

Max Group Term Life Platinum Assurance Plan is a comprehensive group term insurance plan that financially protects the family of an employee against an unfortunate event of death.

Features:

• Under this policy, employers can cover all their employees under one policy document.
• It offers an optional in-built accelerated critical illness benefit, which provides coverage against 20 listed critical illnesses in return for an extra premium.

Eligibility:

**Last Updated on 13-01-2021

viii) Max Life Group Saral Suraksha Plan

Max Life Group Saral Suraksha Plan is a micro-insurance product, which aims to secure the economically and socially weaker sections of society against life's uncertainties.

Features:

• The plan offers coverage for Loan Borrowers and Level Cover for Affinity groups such as MFIs, NBFCs, NGOs, and small finance banks under one micro-insurance plan.
• You have the flexibility to decide on the premium payment option.

Eligibility:

**Last Updated on 13-01-2021

Why Opt For Max Life Insurance Plans?

The life insurance plans offered by Max Life are commendable in every manner. But that's not the only reason to go for it. The company itself has a bag full of benefits, which are listed below:

*source: Max Life Insurance

Pan-India Presence: With 269 branches around the country, Max Life ensures you and your family don't have to worry about getting assistance for your life insurance policy.

Claim Settlement Ratio: The company has a claim settlement ratio of 99.22%, which shows its commitment towards the betterment of its customers.

Ease to Purchase: You can purchase Max Life plans from online and offline channels. This ensures that potential customers experience a quick and easy buying process.

Transparency: The company follows the transparent process and builds up trust between the customers and its management.

How To Buy Max Life Insurance Plans Online?

The company proudly sells its plans via an online platform. Here are the steps to buy from it:

• Visit the official website of Max Life Insurance.
• Scroll down to find 'Our Online Insurance Plans' and click on the 'Get Quote' tab of your selected plan.
• On the next page, fill in all the details such as your name, dob, gender, etc.
• Customize the plan according to your needs and pay the premium amount.
• Once done, the policy details will be sent to your registered email address.

**You can also buy a Max Life Insurance plan from PolicyX.com. Call (1800-4200-269) our expert team for further assistance.

What Is The Claim Settlement Process For Max Life Insurance Plans?

The company has the following channels for its customers to report claims:

• Nearest Max Life Insurance Company Office (details of the nearest branch are available on the website).
• Email Support: claims[dot]support[at]maxlifeinsurance[dot]com
• Agent advisor

Write to the claims department at the below address:

Max Life Insurance Company, Operations Center - 2nd Floor, 90A, Sector 18, Udyog Vihar, Gurugram-122015, India.

• All claims need to be submitted with claim forms. You can download the form directly from the Max Life Insurance Company's website or collect it from the nearest Max Life branch.
• You have to attach the claim form along with the necessary documents and submit them to the company.
• All valid claims will be settled within 30 days after receiving all the correct documents as per the guidelines provided by IRDA.
• Claim amount will be dispatched as per the chosen mode of payment.

Max Life insurance: Contact Details

Contact Address: Max Life Insurance Company, Operations Center - 2nd floor 90 A, Sector 18, Udyog Vihar, Gurugram - 122015

Online Plus Helpline: Phone: 1800 200 3383

Email:online[at]maxlifeinsurance[dot]com

Send Message: SMS 'LIFE' to 5616188

Customer Service Helpline: Phone: 1860 120 5577 (Monday to Saturday - 9:00 AM to 6:00 PM)

NRI Helpdesk: Phone: 0124 - 5098162; 0124 - 4905150 (Monday to Saturday - 9:00 AM to 6:00 PM)

Email: nri.helpdesk[at]maxlifeinsurance[dot]com