Max Life Insurance
  • Explore Max Life features
  • Insurance Plan features and benefits
  • Buying and Claim Process
Buy Policy in just 2 mins

Buy Policy in just 2 mins

Happy Customers

2 lakh + Happy Customers

Free Comparison

Free Comparison

Customized Term Insurance Plan for you.

Enter Your Name

Mobile Number


Max Life Insurance

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 fulfill the needs of its customers. Max Life Insurance crossed Rs. 10,000 Crores in gross written premium in FY 2019-20. The company also reported a 99.22% in its claim settlement ratio in the same year. Moreover, Max Life Insurance is working hard to make the claim process simple and hassle-free for you and your family.

Awards and Achievement

  • Ranked 24th among India's top 100 best companies to work for, by great Places to Work Institute, India in 2020
  • Ranked 1st in a survey on customer loyalty conducted by Kantar in 2020
  • Best organization on Fraud Risk Mitigation processes, as recognised in the Fraud, Risk & Compliance Conference 2.0 in 2020
  • In a nationwide survey by Nielsen, Max Life Smart Term Plan was voted as Product of the Year 2020 in the Term Life Insurance category
  • Asian Customer Engagement Forum (ACEF) 2019 recognised the Max Life India Protection Quotient as the Most Admired Campaign for Brand Revitalization
  • ET BFSI Excellence Awards 2019 recognised Max Life as the Disruptive Technology Innovator of the Year for its M-Rec app
  • Asian Customer Engagement Forum (ACEF) 2019 recognised Max Life's The RUN as the Most Admired Brand Activation Campaign
  • Most Innovative Affiliate Marketing Campaign, as recognised by IAMAI at India Affiliate Summit 2019
  • CMO Asia 2019 recognised Max Life as the Best Term Plan Company of the Year for its Online Term Plan Plus
  • Recognised as Claims Service Leader by CMO Asia Awards 2019
  • Outlook Money Awards 2019 presented Max Life the Silver Award under the Life Insurance Provider of the Year category in the Private Sector

Key Features Of Max Life Insurance

There are 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, market share, 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:

Annual New Business Premium (2019-20) Rs. 5,583.48 Crores
Assets Under Management Rs. 68,471 Crores
Sum Assured (in force) Rs. 9,13,660 Crores
Claim settlement ratio (2019-20) 99.22%
Solvency ratio 2.18
No. of Offices 269

**Last Updated on August, 2021

In the following section, we provide you with a detailed explanation of these features. Read along to find out.

  1. Annual Premium Income

    In FY 2019-20, Max Life Insurance recorded a gross written premium of Rs. 16,184 Crores, an 11% increase from that reported last year.

    As of the year ended March 2020, Max Life holds a market share of 1.90% in the life insurance space. Further, in the graph below, we have highlighted the yearly trend in the amount of annual new business premium generated by Max Life Insurance, over the past four fiscal years. As indicated by the graph, the company's annual premium increased gradually from FY 2016-17 to FY 2019-20.

    Yearly Trend in Annual Premium of Max Life Insurance (Rs. in Crore)

    Yearly Trend in Annual Premium of Max Life Insurance

    *Data has been sourced from IRDAI's annual report of 2019-20

  2. Claim Settlement Ratio

    Max Life introduced an initiative called InstaClaimTM, wherein the company offers to settle death claims in just one day.

    The claim settlement ratio helps you to analyse the claim settling ability of an insurer.

    As per the IRDAI's annual report, the claim settlement ratio of Max Life Insurance stood at 99.22% in FY 2019-20.

    In the graph below, we have presented the yearly trend in the CSR of Max Life Insurance, over the past four fiscal years.

    Yearly Trend in Claim Settlement Ratio of Max Life Insurance (2016- 2020)

    Yearly Trend in Claim Settlement Ratio of Max Life Insurance (2016- 2020)

    *Data has been sourced from IRDAI's annual report of 2019-20

  3. Solvency Ratio

    The solvency ratio is another key parameter that measures the ability of the company to meet its long-term debt obligations and other monetary commitments. IRDAI mandates that all life insurance companies in India should maintain a solvency ratio of at least 1.5.

    As per IRDAI Report 2019- 2020, the Solvency Ratio of Max Life Insurance stands at 2.18. The following graph illustrates the solvency ratios of Max Life Insurance from FY 2016-17 to FY 2019-20.

    Yearly Trend in the Solvency Ratio of Max Life Insurance

    Yearly Trend in the Solvency Ratio of Max Life Insurance

    *Data has been sourced from IRDAI's annual report of 2019-20

  4. Operating Network

    Max Life Insurance has a multichannel distribution network consisting of partners and third-party agencies. It has established a PAN India presence, featuring 269 offices across the country, Max Life Insurance has one of the highest percentages of women agents. At present, 45% of the agents associated with the company are women.

Products offered by Max Life Insurance

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.

Product Categories Sub-categories Names of Plans
Life Insurance PlansChild Insurance PlansMax Life Future Genius Education Plan
Max Life Shiksha Plus Super
Group Insurance PlansMax Life Group Super Life Premier
Max Life Pradhan Mantri Jeevan Jyoti Bima Yojna
Max Life Group Credit Life Secure
Max Life Group Saral Suraksha Plan
Group Term Life Platinum Assurance Plan
Max Life Group Credit Life Premier
Max Life Group Gratuity Premier Plan
Max Life Group Super Life Premier in lieu of EDLI
Term Insurance PlansMax Life Smart Term Plan
Max Life Online Term Plan Plus
Max Life Smart Secure Plus Plan
Investment PlansSavings PlanMax Life Savings Advantage Plan
Max Life Monthly Income Advantage Plan
Max Life Guaranteed Income Plan
Max Life Whole Life Super
Max Life Assured Wealth Plan
Max Life POS Guaranteed Benefit Plan
Income PlansMax Life Smart Wealth Plan
ULIPMax Life Fast Track Super
Max Life Platinum Wealth Plan
Max Life Online Savings Plan - Variant 1
Max Life Online Savings Plan - Variant 2
Max Life Forever Young Plan
Retirement & Pension PlansMax Life Saral Pension
Max Life Forever Young Pension Plan
Max Life Guaranteed Lifetime Income Plan
Max Life Perfect Partner Super

**Last Updated on August, 2021

Claim Process of Max Life Insurance

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:

  • Claim Registration & Document Submission
  • Claim Evaluation
  • Claim Decision & Settlement

Documents required to register a claim are:

  • Original policy document
  • Original/attested copy of death certificate
  • Form A - Death claim application form
  • NEFT mandate form attested by bank authorities
  • Cancelled cheque/passbook of bank account
  • Nominee's photo ID

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.

How to Contact Max Life Insurance?

Corporate Office Address:

Max Life Insurance Co. Ltd 11th floor, DLF Square, Jacaranda Marg, DLF City Phase II, Gurugram, Haryana 122002

Online Plus Helpline:

Phone: 0124 648 8900 (09:00 AM to 09:00 PM Monday to Saturday)

Message: SMS 'LIFE' to 5616188

Customer Service Helpline:

Phone: 1860 120 5577 (9:00 AM to 6:00 PM Monday to Saturday)

NRI Helpdesk:

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


* Customers can also chat or write to the company to register feedback, queries, etc.

Max Life Insurance: FAQs

1. What is the claim settlement ratio of Max Life Insurance?

As per the IRDAI report of 2019-20, Max Life Insurance has a claim settlement ratio of 99.22%.

2. How long does Max Life Insurance take to settle a claim?

Through its InstaClaimTM initiative, Max Life endeavours to pay eligible death claims up to Rs. 1 Crore in only 24 hours.

3. What are the eligibility criteria to have claims settled within 24 hours under Max Life’s InstaClaimTM initiative?

  • 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

4. Can I change the nominee of my Max Life insurance plan?

You can change your nominee within the benefit period of your active policy. Alternatively, you can fill out the policy amendment request form.

5. Can I change my current method of max life premium payment?

Max Life allows policyholders to change their premium payment mode on policy anniversaries of their active policies.

6. Does the company send reminders for max life premium payments?

Yes, Max Life sends reminders before debiting a policyholder's account to ensure that she/he has sufficient balance.

7. What is the free look period for policies offered by Max Life?

The free look period for offline policies is 15 days, whereas, for online policies, it is 30 days.

8. How can I surrender my Max Life Insurance policy?

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:

  • Original Policy documents
  • Canceled cheque
  • ID proof
  • Updated contact details

9. What are the ways to pay Max Life Insurance premium online?

Policyholders can pay the premium of max life insurance plans through any of the below mentioned modes:

  • Credit Card
  • Debit Card
  • Net Banking
  • UPI
  • RTGS
  • NEFT
  • ECS
  • EBPP

10. What is the process to link an Aadhaar card with Max Life Insurance policy?

Listed below are some options to link Aadhar card with the Max Life policy:

  • SMS Aadhar number and policy number to 5424243.
  • Send an email to the company
  • Call on 1800-200-5577
  • Walk-in to the nearest branch of the Max Life Insurance

11. What documents are required to process a Maturity claim under the plans offered by max life insurance company limited?

Below-mentioned are the documents that are required to process the maturity claim:

  • Original Policy Pack.
  • Copy of ID proof.
  • Form M.
  • Canceled cheque or a copy of the bank passbook

12. Do I get a notification for my premium payments?

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.

Find Out What Customers Are Saying

(Showing latest 5 reviews only)

- 4.5/5 (53 Total Rating)

February 24, 2022

shivani kashyap


Max life is a reputed company for a reason. They always take good care of their clients without delaying their requests and claim. I am impressed

February 24, 2022



Got claim settled of my father s policy within 15 days as my family needed money to repay loan. Thank you to the team. Really happy with the service.

February 18, 2022



My father was having term insurance from them and when we informed them about the death of my father. They helped me and my family. cleared all claims asap

February 18, 2022



Last year I met with an accident while going to the office. My life insurance rider- accident one came very usefully. I got sufficient money to earn my home as I was not able to go work.

February 10, 2022

shika suman


I am the earning member of the family and I am always scared that what will happen to them after my death. So Max life gave me the best suggestion to purchase a term insurance plan that will take care of my family after my death. I am relieved.

Last updated on March, 2022

Get Instant Quotes