Max Life Insurance

Claim Settlement Ratio - 98.74%*
*Data according to IRDA Annual Report (2018-19)
  • Tax Benefit

    Upto Rs. 75000

  • Life Cover Till Age

    99 Years

  • 8 Lakh+

    Happy Customers

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

*Please note that the quotes shown will be from our partners

Max Life Insurance Company, established in 2000, is one of the most admired private insurance companies in India. Max Life Insurance Company Ltd is a joint venture between Max India Ltd, an Indian multi-business corporate and Mitsui Sumitomo Insurance Co. Ltd, a member of MS&AD Insurance Group, a general insurer. The company has started its commercial operations in 2001. 

If we talk about Indian insurance market scenario, most of the youngsters, as well as the aged crowd, don’t feel in sync with the idea of buying life insurance, as it is still considered to be a ‘not-so-important’ factor to think about. We Indians have a habit of avoiding the idea of buying life insurance as much as possible. As per a research, only a meagre percentage of Indians are insured or have life insurance. And, a major chunk of this segment has been sold the insurance: - they haven’t bought it deliberately.

However, with more and more internet penetration in the market, people have started to realize the impertinence of buying a life insurance. There are various life insurance policy providers, such as max life insurance, available online that provides you with the convenience to opt for these policies and protect your loved ones from the future contingencies.

There are various reasons why you should go online and check the Max Life Insurance Policy Status and start the application as soon as possible. Starting early always helps in the case of a life insurance with Max as you are able to get better plans and coverage at a lower cost. The younger you start, the more you save in a life insurance policy.

Max Life Insurance Company, established in 2000, is one of the most admired private insurance companies in India. Max Life Insurance Company Ltd is a joint venture between Max India Ltd, an Indian multi-business corporate and Mitsui Sumitomo Insurance Co. Ltd, a member of MS&AD Insurance Group, a general insurer. The company has started its commercial operations in 2001.  

Max Life Insurance Company Ltd offers comprehensive life insurance and retirement solutions for the long-term savings and the protection to more than 30 lakh customers. The Chief Executive Officer and the Managing director of Max Life Insurance is Mr. Rajesh Sud.

Max Life Insurance was ranked fourth amongst the private life insurance companies with market share of 10.3% in the financial year 2013-14. For the same financial year, the company has been one of the fastest growing life insurance companies with Gross Written Premium of Rs. 7,279 crores.

Max Life Insurance Company’s asset under management has touched the mark of Rs.50,000 Crore. It has seen the growth of 19.5% in the past three years. The company won the trophy for “Best Underwriting Initiative of the Year” in the Asia Banking, Financial Services & Insurance Excellence Awards. 

What is Max Life Insurance?

As one of the leading insurance providers in the country, Max Life Insurance offers inclusive protection, long-term savings, and retirement solution to the insurance seekers. The policies offered by max life insurance are specifically designed to cater to the various needs of the insurance buyers. The insurance buyers can choose from the extensive range of plans ranging from protection, retirement, child, savings, etc. as per their requirement and suitability. Over the past 15 years and so, Max Life Insurance Company has progressed as one of the best insurance companies in the country and has developed a strong reputation in the market.

Why You Should Choose Max Life Insurance?

Headquartered in Delhi, Max Life Insurance Company has an asset of Rs.62, 798 crores.  With a claim settlement ratio of 98.74%, Max Life Insurance Company constantly tries to create a solution to make life insurance plans more affordable, easy, and suitable for customers at every stage of life. Here is why you should choose Max Life Insurance.

Empathy

Max Life Insurance Company chooses its customers over numbers. With a customer-centric approach, the company offers a one-stop solution for the insurance needs of the buyers.

Transparency

With a claim settlement ratio of 98.74%, Max Life Insurance Company offers transparency to the insurance buyers.  Insurance buyers can check every detail related to different policies online.  With a  solvency ratio of 242% (Source Public Disclosure FY 2018-2019), Max Life Insurance policies offer reliability to the customers.

Accountability

The company values the trust of the insurance buyers thus provides an excellent customer support service 24X7 to the insurance buyers. Max life insurance takes accountability of the policies and provides a hassle-free claim settlement process in case the claim is filed by the nominee of the policy.

Benefits of Max Life Insurance

Max Life Insurance policies offer various benefits to insurance holders. Let’s take a look at it:

  • Max Life Insurance offers a wide range of comprehensive policies to cater to the requirements of insurance buyers.
  • The insurance buyers can opt for a high coverage plan at an affordable premium rate.
  • Along with the benefit of insurance cover, the plans offered by Max Life Insurance also provides the advantage of tax exemption U/S 80C and 10(10D) of Income Tax Act.
  • An individual can purchase the Max Life Insurance plan online in an easy and hassle-free way.
  • The plans offered by Max Life Insurance helps to secure the financial future of the family of the insured.
  • Max Life Insurance policies help the insured to provide financial security to their family and safeguard them against any type of eventualities.

Types of Max Life Insurance Plans

Here are all the different types of insurance plans offered by Max Life Insurance:

Max Life Term Insurance Plan

These are comprehensive life insurance plans that offer the much-needed financial protection to you and your family. Following are the Max life insurance term plans:

Plan Name

Entry Age (Min – Max)

Maturity Age

Policy Term

Sum Assured (Min – Max)

Max Life Online Term Plan Basic Cover

18 - 60 years

85 years

10-50 years

Rs.25 lakh - Rs.100 crore

Max Life Online Term Plan Life Cover + Monthly Income

18 - 60 years

85 years

10-50 years

Rs.25 lakh - Rs.100 crore

Max Life Online Term Plan Life Cover + Increasing Monthly Income

18 - 60 years

85 years

10-50 years

Rs.25 lakh - Rs.100 crore

Max Life Super Term Plan

18 - 65 years

75 years

10-35 years

Rs.25 lakh - No Upper Limit

Max Life Platinum Protect II

18 - 60 years

75 years

10, 15, 20, 25, and 30 years

Rs.25 lakh - No Upper Limit

Max Life Premium Return Protection Plan

21 - 55 years

75 years

20, 25, and 30 years

Rs.5 lakh - Rs. 1 crore

Max Life Online Term Plan Basic Life Cover

This is a pure term insurance plan of Max life insurance. It comes with the option of a regular premium payment.  In the event of the sudden demise of the policyholder, the plan offers financial protection to the family of the insured.

Max Life Online Term Plan Life Cover + Monthly Income

This plan offers financial security to the policyholder and his/her loved ones in case of his/her sudden demise. The death benefit amount can be used to pay for major liabilities like purchasing a car, funding the child’s education, home loan, marriage, etc.

Additionally, it provides the monthly payout that can be used to take care of the daily expenses of the family like school fees, groceries, etc. All in all, it ensures that the insured’s family is able to maintain a good lifestyle.

Max Life Online Term Plan Life Cover + Increasing Monthly Income

In case of sudden demise of the insured, this plan offers a lump sum amount as the death benefit. Apart from that, it provides a monthly payout for the next 10 years. The monthly payout can be used to meet various expenses like school fees, groceries, etc.

Even after considering the inflation rate, the plan ensures that the insured’s family is able to maintain a good lifestyle

Max Life Super Term Plan

Under this plan, the life cover increases at the rate of 5% on an annual basis. However, it doesn’t affect the premium rates.

The plan helps insured’s family cope up with rising inflation rate.

Max Life Premium Return Protection Plan

The plan safeguards the financial future of the policyholder’s family against various uncertainties. In case the policyholder survives the policy tenure, it offers the benefit of return of premium payment at the end of the policy term.

ULIP Plans

These are insurance cum investment plans that help to fulfill the goal of wealth generation. The plans offer much-needed flexibility to manage the investment.

Plan Name

Entry Age (Min - Max)

Maturity Age

Policy Term

Max Life Fast Track Super plan

18 years - 60 years(5 Pay and Single Pay), 50 years( For Regular Pay)

70 years

5 pay- 10 years

Single pay- 10 years

Regular pay- 20 years

Max Life Platinum Wealth Plan

 

Single pay/ Limited pay/Regular pay- 18 years - Single pay/ Limited pay- 60 years & for Regular pay- 55 years 

Single pay/ Limited pay- 70 years

Regular pay- 65 years

10 years and 20 years

Max Life Fast Track Super plan

Under this plan, the policyholder gets the opportunity to invest in the market with multiple fund options and get good returns on investment.

Max Life Platinum Wealth Plan

Under this plan, the policyholder gets a chance to maximize his/her wealth through market-linked returns. The plan offers an access to additional wealth boosters to fulfill the goal of wealth generation.

Pension Plans

Pension plans help the policyholder to save for his/her old age. With the help of these plans, the policyholder can enjoy the golden period of his/her life

Plan Name

Entry Age (Min – Max)

Vesting Age

Policy Term

Sum  Assured (Min – Max)

Max Life Forever Young Pension Plan

30 – 65 years

50 - 75 years

50 - 75 years (less entry age)

 

Rs 25,000 p.a. – No Limit

Max Life Guaranteed Lifetime Income Plan

50 – 80 years

-

-

-

Max Life Perfect Partner Super

91 days - 55 years

-

10 years, 15 years and 20 years

Rs.50,000 - No upper limit

Max Life Forever Young Pension Plan

The plan helps the policyholder to save for his/her retirement Life. This plan provides the policyholder access to additional annuity plan benefits which safeguards his/her family against unseen eventualities.

Max Life Guaranteed Lifetime Income Plan

This is a pure non-participating immediate annuity plan that offers a regular flow of income to insured after retirement. Under this plan, max life insurance provides 4 annuity options to choose from:

  • Single life annuity
  • Single life annuity with return of premium on the demise of the annuitant
  • Joint life annuity
  • Joint life annuity with return of premium on the demise of the last survivor

Max Life Perfect Partner Super

This is a traditional money back policy of max life insurance which is particularly designed to cater to the expenses of the individual post-retirement. The plan offers guaranteed annual money backs to the policyholder after retirement. Additionally, it provides life protection to the insured’s family.

The plan comes with an option of limited premium payment. It offers tax exemption on the premium amount and maturity benefit under section 80C and 10(10D) of the Income Tax Act, 1961.

Max Life Child Plans

Child plans help the policyholder to accumulate and plan his/her finances in such a way that helps him/her to fulfil his/her child’s dreams and aspiration.

Plan Name

Entry Age (Min – Max)

Maturity Age

Policy Term

Sum Assured (Min – Max)

Max life Future Genius Education Plan

21 – 45 years

66 years

18 years

Rs.3,27,000 (8 pay variant), Rs.2,12,000 (For Limited Pay)-No upper Limit

Max Life Shiksha Plus Super Plan

 

21 – 50 years

For 5 pay- 60 years

For regular pay- 65 years

10,15 and 20 years

10 times the annualized premium

Max life Future Genius Education Plan

This is a participating non-linked life insurance plan of max life insurance. This plan is specifically designed to cover the financial expenses of the child. The plan benefits help to look after the higher education costs with the help of disciplined savings.

The policyholder can select the policy tenure and premium payment tenure of the plan, depending on the education needs of their children.

Max Life Shiksha Plus Super Plan

This is a ULIP plan offered that provides enhanced protection to the insured child. Under this plan of max life insurance, the policyholder can secure funds for his/her child’s future so that he/she can achieve the major milestones of his/her life.

This is an investment come protection plan that invests half of the premium amount in equity-linked savings schemes, whereas, the other half is invested in life protection.

Max Life Savings and Income Plan by Max Life Insurance Company

These plans help the insured to save systematically and achieve his/her life goals by providing a comprehensive coverage.

Plan Name

Entry Age (Min – Max)

Maturity Age

Policy Term

Sum Assured (Min – Max)

Max Life Whole Life Super

18 – 50 years

-

Up to 100 years of Life Insured

Rs. 50,000 - No upper limit                    

Max Life Guaranteed Income Plan

 

25 – 60 years

 67 years

6- 12 years

Rs.4,51,226 (6 years policy term), Rs.2,73,986(12 years policy term)- no upper limit

Max Life Gain Premier

 

18 – 55 years

For policy term 15 years-  70 years

For policy term 20-25 years- 75 years

15 years and 20 years

Rs.50,000 - No upper Limit

Max Life Monthly Income Advantage Plan

18 – 50 & 55 years

75 years, and 77 years

22 years and 25 years

Rs.3,24,000 (For 12 pay variant), Rs.4,05,000 (For 15 pay variant) - No upper limit

Max Life Assured Wealth Plan

8 – 55 years

65 years

10 years

Rs.1,97,460 - No upper limit

Max Life POS Guaranteed Benefit Plan

 

18 – 50 Years

 

60 Years

 

10 Years

 

Rs.97,593 – Rs.7,31,978

Max Life Whole Life Super

This is a savings plan of max life insurance. It helps to create a financial cushion in a long-term. As a whole life protection plan, this plan offers guaranteed protection to the insured until the age of 100 years. The plan also provides accrued bonus facility depending on the needs of the insured.

With the limited premium payment option, the plan also provides additional rider benefits. The riders can be bought to enhance the coverage of the plan.

Max Life Guaranteed Income Plan

This is a savings plan which provides the dual benefits of life protection along with the guaranteed payout as monthly income for a period of 10 years. Moreover, the monthly income is doubled during the last 5 years of the policy period. The plan also offers terminal bonus after the completion of the policy period. 

Max Life Gain Premier

This is a traditional participating endowment plan of max life insurance. It provides an opportunity to create a financial cushion through systematic savings. The plan offers a flexible bonus option. Depending on his/her requirements, the insured can enhance the policy coverage with the help of additional rider benefits offered under the plan.

Max Life Monthly Income Advantage Plan

It is a limited premium payment policy that provides life coverage up to the tenure of 25 years. After the completion of the premium payment tenure, the plan provides a guaranteed monthly income for 10 years. Moreover, the plan offers a comprehensive insurance coverage along with the rider benefit.

Max Life Assured Wealth Plan

This is a non-participating, non-linked life insurance plan of max life insurance. It provides a guaranteed return on investment to meet the saving goals of the individual. The plan provides an opportunity to create a corpus by saving systematically.

Note- In order to get the best insurance plan that suits you the most, you can compare various Max Life insurance plans.

Max Life POS Guaranteed Benefit Plan

An easy to understand and purchase savings and income plan that offers guaranteed benefits to make sure financial security. The plan offers guaranteed death and maturity benefits. The premium payment term of this policy is fixed and short that helps to build the desired amount for dreams quickly. The plan is easy to understand and simple to purchase.

Best Max Life Insurance Plans

Max Life Insurance Plan Name

Plan Type

Policy Term

Entry Age

Maximum Maturity Age

Premium Paying Term

Basic Life Cover

Online Term Plan

10 – 40 years

18 – 60 years

75 years

Regular

Super Term Plan

Term Insurance Plan

10 – 35 years

18 – 65 years

75 years

Regular

Shiksha Plus Super

Unit-linked Child Insurance Plan

10, 15, 20 years

21 – 50 years

65 years

Limited 5 pay/Regular

Guaranteed Lifetime Income Plan

Traditional immediate Annuity plan (retirement plan)

N/A

50 – 80 years

N/A

Single pay

Forever young Pension Plan

Unit Linked Pension Plan

10 years – 75 years minus age at entry

30 – 65 years

75 years

Regular

Fast Track Super Plan

Unit Linked Insurance Plan

10 years for 5 pay/single pay;

20 years for regular pay

18 years – 50/60 years

70 years

Single, 5 pay, 20 years regular pay

Monthly Income Advantage  Plan

Traditional participating Money Back Plan

Premium paying term plus 10 years

18 years – 50/55years

77years(12 pay plan)/ 75 years (15 pay plan)

12 pay variant/ 15 pay variant (regular pay)

Max Life Insurance for Senior Citizens in India

The Max life insurance plans for senior citizens are specifically designed to provide them financial coverage against any type of eventuality. The plans offered by max life insurance provide the flexibility to choose the coverage and tenure of policy and can be availed easily online.  Keeping the requirements of the senior citizen in mind, there are different retirement plans offered by the company to secure the financial future of the individual after retirement. The policy buyers can compare these plans online and choose the most beneficial plan as per their requirement and suitability. Let’s take a look at the retirement plans offered by Max Life Insurance for Senior Citizens.

Plan Name

Entry Age

Policy Term

Vesting Age

Premium Payment Term

Max Life Forever Young Pension Plan

30 years/ 65 years

20 years

55 years/75 years

20 years

Max Life Guaranteed Lifetime Income Plan

45 years/80 years

N/A

46 years/90 years

N/A

Max Life Perfect Partner Super

91 days/55 years, 50 years, 45 years

75 years- age at entry of the life insured

N/A

7, 10,15 or 20 years

Max Life Insurance for Child

To secure the financial future of the child, Max Life Insurance offers child insurance plans for insurance seekers. A child insurance plan is a combination of insurance and investment, which ensures a financially secured future for the child. Moreover, these plans also provide flexible payouts at major milestones of the child’s life like for higher education, marriage, etc. let’s take a look at the child insurance plans offered by Max Life Insurance.

Plan Name

Entry Age

Maturity Age

Policy Term

Max Life Future Genius Education Plan

21years/45 years

66 years

13 years-21 years

Max Life Siksha Plus Super

21 years/50 years

60 years or 65 years

10 years, 15 years and 20 years

Claim Settlement Process for Max Life Insurance

A policyholder can intimate about the claim by giving written information to the Max Life Insurance Company through any of the following means:

  • Max Life Insurance Company’s nearest branch office
  • Through his/her Max Life Insurance Agent Advisor
  • Emailing at support[at]maxlifeinsurance.com or

By sending written information at the following address:

Max Life Insurance Operations Center,
Claims Department,
Max Life Insurance Company
Operations Center – 2nd Floor
90A, Sector 18, Udyog Vihar,
Gurgaon – 122015, India.

A policyholder can download the claim form from the claim section of the Max Life Insurance Company’s website. Or get it through his/her insurance agent or by visiting the nearest branch of the company.

The claim should be intimated to the company as soon as after the death of the policyholder. In case of critical illness or any dread disease, the claims must be intimated only after completion of the survival period, which is 28 to 30 days after the occurrence of the event.

As per the norms of the max life insurance company all the regular claims are settled within 30 days after the submission of all the required documents. If the claim requires further verification, then the process may take up to 180 days in its settlement. Whatever the decision is, it is intimated to the claimant.

The claim amount is received according to the option chosen by the nominee of the policyholder at the time of submission of all the claim related documents. The company generally encourages electronic fund transfer for hassle-free and fast customer experience.

Documents Required For Max Life Insurance Claim Settlement

The following are the important documents that should be kept handy while filing the claim for the Max Life Insurance policy.

Important Documents Required

  • Original policy documents
  • Original and attested copy of death certificates (issued by local municipal authority)
  • Beneficiary’s photo identity proof.
  • Claim settlement application form.
  • Attested NEFT mandate form by bank authorities along with bank account passbook or cancelled check.

Other Important Documents Needed on Basic of Cause of Death

  • Natural or death due to medical problem:
  • Medical record of unnatural/accidental death
  • Statement of the physician attending
  • Copy of FIR or police complaint/panchanama
  • Copy of autopsy/post mortem report and viscera report
  • Copy of charge sheet/ final police investigation report

Riders Available with Max Life Insurance Plans:

Add-on rider benefits are offered by the Max Life Insurance Company to enhance the coverage of the policy. The riders can be purchased by the policyholder by paying extra premium along with the basic premium of the policy. Let’s take a look at the rider benefits offered by Max Life Insurance.

Comprehensive Accidental Benefit Rider (CAB Rider)

Under this rider option, an extra sum assured amount is paid to the beneficiary of the policy in case of accidental demise or dismemberment of the policyholder.

Waiver of Premium Plus

Under this rider option, all the future premium of the policy is waived off in case of critical illness, death or dismemberment of the insured person. If the insured person and policyholder is the same then the waiver of future premium is provided to the nominee in case of diagnosis of specific critical illness or dismemberment. In case the insured person and policyholder are different then the waiver of future premium is provided to the nominee in case of diagnosis of specific critical illness, dismemberment, or death of the policyholder.

Critical Illness Rider

Under this option of rider benefit, a lump-sum amount is paid to the insured on the diagnosis of critical illness as listed in the plan document.

Partner Care rider

The partner care rider can be added to the life insurance plan to provide extra protection to the dependents in case of death of the insured person. Under this rider option, all the future premiums of the policy are paid to the nominee by the insurance company in the event of the death of the insured during the tenure of the plan.

Exclusion of Max Life Insurance Plan

If the life assured, sane, or insane commits suicide with 12 months from the date of policy initiation or from the date of renewal of the policy, then no death benefit will be offered to the beneficiary and the policy shall be terminated immediately. In such cases, only 80% of the total premium paid till date is returned to the nominee of the policy.

How to Check Max Life Insurance Policy Status

The procedure to check the policy status of MAX life insurance is very simple and hassle free. One can check the policy status with just few clicks, all you need to do is to keep handy the important information and provide all the details online in order to seek the required info. The best way you can check max life insurance policy status is by visiting the official website of max life insurance company.

Along with submitting the essential details the insured will also be required to mention the policy details while checking the max life insurance policy status. In order to help you know more about the procedure to check max life insurance policy status online, further we have elaborately discussed about it.

There are several ways to check the policy status of max life insurance.  You can either check the policy status online by visiting the official website of max life insurance or you can know your policy details by calling the customer care toll free number, email or via SMS.

Prior proceeding to the details of the process of policy, it is important know what are the policies covered by max life insurance. There is wide range of life insurance policies offered by max life insurance ranging from retirement plan, child plan, growth plan, protection plan, saving plan, etc.  If you have purchased any of the max policy then you can follow the below explained process to check max life insurance policy status.

Procedure to Check Max Life Insurance Policy Status Online

  • If you are an existing customer then you will be required to log into the customer portal to check the status. In case you are a new customer then you will have to register yourself initially.
  • You can call to the customer care toll free number to clear all your doubts and queries.
  • First and foremost, the insured will have to login to the official website of MaxLife
  • On the home page of max life insurance the policy holder can find the option of login.
  • Once you click on the login button a new window will appear.
  • On the new window the life insured will have to fill the required details like his username, ID and password. After you complete filling the required information then login to the customer portal.
  • In order to seek the max life insurance policy status the policy holder will have to deliver the policy number along with the other required details. 

In case you Forget your Login Password

If you forget your login password then follow these steps to retrieve it:-

  • Click on ‘forget password’
  • Fill the important details like client ID, email address, policy number and click on the submit button.
  • You will a password resetting link in your email address.
  • By clicking on that link the policy holder can reset his/her password.

How to Recover your Username

  • If you forget your username then you can retrieve it by clicking on the forget username on the window page.
  • A new page will open on the screen. Thus, fill the required details like policy number, client ID and email address and click on the submit button.
  • Once you complete all the required formalities you can easily retrieve your username.

If you are a new registered use, then:

  • First and foremost the policy holder will be required to login to the company’s website and enter the policy details like customer ID, policy number and date of birth. You can find the details of the policy in your policy bond.
  • Once you are done with filling all the details, recheck and validate the information about the plan.
  • You will need to confirm the phone number and email ID once you validate the information.
  • After submitting the information a link to reset password along with the email link will be send to the email ID.
  • The final steps required to complete the process of registration is to click on the link and register him/her.
  • Once you are done with your registration process and change the password successfully, you can check your max life insurance policy status and seek the other required information.

Max Life Distribution Network

Max Life Insurance Company Ltd currently applies multi-channel distribution model to sell its products that include the agency distribution, partnership distribution, bancassurance, distribution focused on emerging markets and alliance marketing through the employed sales force.  Max Life has pan India presence with 1090 offices across the country.

Max Life Insurance - FAQ

  • How to surrender Max Life Insurance policy?

    For surrendering the policy, the policyholder has to submit the reason(s) for surrender and surrender form at the nearest branch of Max Life Insurance and should submit the below-mentioned documents:
    • A canceled cheque that has the name and the account number of the policyholder on it.
    • Original documents of the policy.
    • If the canceled cheque does not have the name of the policyholder, his/her account number, or the number of the new account is mentioned on it, then the copy of the passbook or bank statement that has the account number and pre-printed name of the policyholder is needed.
    • Any ID proof such as Aadhar card, PAN card, Voter ID, or Driving License.
    • Latest contact details of the policyholder.
    • Policy cancellation or surrender form.
    • NRE bank statement reflects any premiums that are paid through the NRE account.
  • How to pay Max Life Insurance premium online?

    A policyholder can select any of the below-mentioned options to pay the premium of his/her Max Life Insurance policy online:
    • Online Payment Through the Website of Max Life Insurance: Through this option, a policyholder can pay the premium for his/her Max Life Insurance policy in two simple steps:
      • Choosing the preferred premium payment mode, which can be Credit Card (Visa, Master, Diners, Amex), Net Banking, EMI on Cards, Debit Card (Master, Visa, Rupay), UPI, and cards/ wallet.
      • And then filling all the information that is asked on the website of the company and then making the payment.
    • Online Payment by Using Internet Banking (RTGS/ NEFT): A policyholder can log in to his/her bank’s website and select RTGS/ NEFT for making the premium payments. For the same, he/she should provide the following details:
    Name of the Beneficiary Max Life Insurance Company Limited
    Credit Account Number of Beneficiary 1165 (Followed by the number of the policy)
    IFSC Code of Beneficiary Bank HSBC0110002
    Bank Name of Beneficiary HSBC Limited
    Name of the Branch Barakhamba Road, New Delhi, 110001

    • Online Payment Via PhonePe/ Paytm/ Airtel Money and Google Pay: For paying the premium through any of the mentioned methods, a policyholder has to visit the below-mentioned sites and add his/her date of birth and policy number for completion of the payment.
      • For PhonePe: https://www.phonepe[.]com/en/
      • PayTm: https://paytm[dot]com/incurance-premium-payment/max-life-insurance
      • Airtel: https://www.airtel[dot]in/wallet/register
      • Google Pay: https://payments.google[dot]com/
    • Pay Via Service of Instapay Through the Website of Bank
    • Pay Via Phone: A policyholder can make the payment of the premium by dialing the IVR 24*7 at this number – 1860 – 120 – 5577. One can as well get to know the following information via IVR:
      • Status of Payment
      • Due Date
      • Receipt of Payment
      • NAV
      • Address of Local Office

    The IVR support of the company is available in different languages, English, Punjabi, Hindi, Gujarati, Marathi, Kannada, Telugu, Tamil, Malayalam, and Bengali.

    • Auto Debit Option:
      • Payment via Credit Card Standing Instruction: The auto-debit feature enables a policyholder to give a standing instruction to his/her credit card (Master/Visa card) for giving automatic payment of the premium before the due date. To register his/her credit card, the policyholder can make a transaction of Rs.2 through the following link with the credit card – https://www.techprocess[.] in/MaxLifeSllntegration/Policy.aspx
        • This Rs.2 transaction is refundable.
        • A confirmation through SMS or email is sent to the registered mobile number or email id as soon as the credit card gets registered.
        • This feature of standing instruction is available for Master and Visa credit cardholders only.
      • Payment via Direct Debit/ ECS/ NACH: A policyholder can opt for the feature of ECH/ NACH/ Direct Debit for automatic debit of the premium amount from the chosen bank account of the policyholder on his/her selected date. The policyholder has to fill the Direct Debit/ ECS/NACH Mandate Instruction form after verifying his/her bank details and send this form to Max Life Insurance Company with a canceled cheque at least 30 days before the next due date of the premium. One can send these documents by any of the following means:
        • Visiting any of the branch offices of the Max Life Insurance Company.
        • Handing this to the advisor appointed to him/her by Max Life Insurance Company.
        • Mailing these documents to the below-mentioned address:
          • Mandate Desk, Max Life Insurance Company, Operations Center, 3rd Floor, 90A Sector 18, Udyog Vihar, Gurugram – 122015.
        • Payment via EBPP: The full form of EBPP is Electronic Bill Payment Process. It is an automatic facility wherein the premium of the life insurance policy is automatically debited from the bank account of the policyholder on the due date. To get registered for this facility, one has to select one of the below-mentioned service providers and complete the process of registration with it:
          • Bill Desk
          • Tech Process
  • How to check the policy status in Max Life Insurance?

    A policyholder can check the status of his/her Max Life Insurance policy through any of the below-mentioned methods:
    • Check Status Online: The policyholder has to follow the below-mentioned steps to check the status of his/her life insurance policy online:
      • Log on to the official website of Max Life Insurance.
      • Locate the ‘Customer Service’ tab and click on it.
      • After this a drop-down menu appears with the below options:
        • Pay Premium
        • Track Application
        • Update Personal Details
        • Change Nominee
        • View Policy Details. Etc.

    Click the 'View Policy Details' option.

    • Clicking this option takes the policyholder to a separate page wherein the policyholder has to enter his/her phone number or policy number along with his/her date of birth.
    • After this click the ‘Submit’ button to view the status of the policy.
    • Other Methods to Check the Status of Policy: One can follow any of the methods to get the status of the policy:
      • By Email: A policyholder can send his/her queries by emailing the help desk of Max Life Insurance Company at service.helpdesk[at]maxlifeinsurance.com
      • By Call: One can check the details of his/her policy by calling the helpline number of Max Life, which is 18601205577 from Monday to Saturday from 9 AM to 6 PM.
      • Visiting a Nearest Branch of Max Life: One can visit any of the nearest branches of Max Life Insurance Company and check the status of the policy from there.
      • Using the SMS Service: For getting the status of the policy, a policyholder can send an SMS with the relevant code to this number – 5616188.

    Short Code

    Details

    NAV

     

    PR

    Premium Receipt’s duplicate

    Status

    Policy status

    Due date

    Policy due date

    LAP

    Last amount that is paid

    US

    Unit statement

    FV

    Fund Value

    CS

    Premium paid certificate

  • How to link Aadhar with Max Life Insurance policy?

    A policyholder can use any of the below-mentioned options to link his/her Aadhar card number to his/her Max Life Insurance policy:
    • Option 1: The policyholder has to SMS his/her Aadhar Number followed by his/her Policy Number and then send these details to 5424243.
    • Option 2: Send an email to helpdesk[at]maxlifeinsurance.com.
    • Option 3: Call Max Life Insurance at 1800 – 200 – 5577.
    • Option 4: Go to the nearest branch of the Max Life Insurance branch for updating the details of Aadhar Card.
  • How to change nominee in Max Life Insurance policy?

    A policyholder can change the nominee anytime during the period of benefit of an active life insurance policy. One can do the same by filling out the request form for the policy amendment. If the policyholder has not provided the name of the nominee during the application process of the policy, then he/she should provide the name of the nominee for easy claim settlement.
  • How to download Max Life Insurance premium receipt?

    For the same, all one has to do is to log on to the customer portal of the Max Life Insurance Company and download the receipt of the premium from there. One can as well call the customer care helpline number of the company, which is 1860 – 120- 5577, or send an email to the company at service.helpdesk[at]maxlifeinsurance.com. The company sends across all the required documents within two working days.
  • How to know the fund value of Max Life Insurance policy?

    For the policyholders who have opted for Unit Linked plans of Max Life Insurance, policy statements are sent to them from time to time to keep them informed on their policy fund performance. The policy fund value is reflected on the anniversary date of the policy. However, a policyholder can also visit the policy fund performance section to view the performance of his/her policy.
  • How to change the address in Max Life Insurance?

    A policyholder can change the address by filling out a policy amendment request form with his/her address proof (if the cumulative premium of all the active policies is more than Rs.10, 000 including all the cess, taxes, and levies as per the Government).
  • Where is Max Life Insurance head office?

    The head office of Max Life Insurance is situated in New Delhi.
  • When was Max Life Insurance established?

    Max Life Insurance Company started its operation in the year 2009.
  • Can I surrender my max life insurance policy online?

    If the policyholder wants to surrender the policy then he/she can surrender the max life insurance policy to the nearest branch office. The policyholder needs to fill the surrender form and submit it along with the required documents to the nearest branch office.
  • Can I apply for Max Life Insurance Policy Online?

    Yes, you can apply for Max Life Insurance policy online.

Max Life Plans - News

  • Max Life Insurance Designates Rahul Talwar as the New Senior Vice President and Marketing Head

    Max Life insurance, one of the leading life insurance companies in India, has selected Rahul Talwar as its new senior vice president and Marketing Head. Talwar will be reporting to the Director-Marketing & Chief Digital Officer, Manik Nangia and will be based in Gurgaon, at the company’s corporate office.

    With an experience of 14+ years in the FMCG sector, Talwar has joined Max Life Insurance after parting ways with McVitie's (Pladis Global) where he was leading the marketing function for the company in India and South Asia. Earlier, he has also worked with giants like Aditya Birla Group and PepsiCo.

    Speaking on his appointment in the new role, Talwar said that it’s a booming time for the life insurance sector and he is thrilled to be a part of the leading team at Max Life Insurance.

    Talwar will be working with the leadership team of Max Life Insurance to strengthen the company’s image in the market. He will be responsible for leading the marketing activities of Max Life Insurance as a brand and will work towards accelerating the brand's journey across different touch points in the country.

  • Max Life Insurance Launches Its First Exclusive Online ULIP

    Max Life Insurance Company recently launched its new online ULIP - Max Life Online Savings Plan. The new online ULIP has been carefully conceptualized and thoughtfully designed after an extensive consumer research done by Policybazaar.com and Max Life Insurance Company.

    Max Life Online Savings Plan comes in two different variants – Wealth Solution and Child Solution in order to help policyholders get maximum return for their investment with Zero Policy Administration and Zero Premium Allocation charges.

    Both these variants of Max Life Online Savings Plan comes packed with several unique features and benefits to ensure flexibility for policyholders to select their preferred combination of policy maturity term and premium payment term. The minimum term is 5 years and the maximum is 30 years.

    Wealth Solution – This variant of the plan has been designed to maximize long-term wealth creation for policyholders. In addition, this variant offers the benefits of tax exemption on premium payment and on maturity proceeds according to the Income Tax rules. Flexibility to choose high life insurance cover is a unique benefit of this variant.

    Child Solution – This variant has been designed to offer benefits to the child in the event of the death of the insured parents. The plan offers long-term corpus and a triple protection benefit to safeguard the financial future of the child. This variant provides:

    1. A lump-sum sum Assured pay out in the event of the death of the insured parent.
    2. i) 1% of sum assured as monthly family income benefit.
    3. ii) Premium waiver for all future premiums.

    This new plan provides the flexibility to choose from the five Fund options including debt funds, equity oriented funds, and balanced funds. The policy holder can opt for Dynamic Fund Allocation at the time of the inception of the plan.

  • Axis Bank Snaps Up Additional Stake in Max Life Insurance

    Axis Bank, the third largest private lender in India, snapped up an additional 4.99% stake in Max Life Insurance, a leading private sector insurer in India, for an estimated Rs. 95.75 Crores. As a result of this acquisition, Axis Bank owns a minority stake of 5.99% in the private insurer. Out of this recent purchase of 4.99% made by Axis Bank, 1% was purchased from Mitsui Sumitomo Insurance Company, the foreign partner in Max Life Insurance, while the remaining 3.99% was purchased from Max Financial Services, the current holding company for Max Life Insurance.

    Axis Bank currently also operates as the bancassurance partner of Max Life Insurance, whereas, Tata AIG handles the bancassurance channel for the general insurance division. As a result of this deal, Max Financial Services now owns the majority stake of 68.01% in Max Life Insurance, with Mitsui Sumitomo Insurance Company, the foreign-based JV partner, owns a minority stake of 25% in the venture.

  • Max Life Insurance Witnesses Continued Growth

    Max Life Insurance, the leading non-banking channel private insurer in India, has witnessed consistent year on year growth as mentioned by a recent report. The company recorded a growth of 10% in its operating revenue, which was recorded at Rs. 2,243 crores, while the insurer also posted a 92% increase in its profits before tax, which reached Rs. 140 crores. Additional improvements of Max Life Insurance’s operations included a 16% annual growth in the firm’s assets under management, which was recorded at Rs. 34,709 crore. This is the first result that has been posted for Max Life Insurance subsequent to the demerger of Max India, into three separate entities.

    Max Life Insurance is currently operating as a subsidiary of Max Financial Services, one of the demerged entities, which is the first to be listed on the stock market. The current report of performance also pointed out that Max Financial Services has also shown robust growth with profits before tax increasing to Rs. 127 Crores.

  • Max India Shares Rise Subsequent to Block Deal

    Max India, the parent company and majority stake holder in Max India Life Insurance, has witnessed a 1% rise in its share prices after a huge block deal was executed in the share market. Though details of the deal are not yet clear and the names of both the buyer and seller currently remain a matter of speculation. Industry experts have commented that this rise is just an expected market correction following the steep decline in Max India’s shares subsequent to the company’s demerger into three separate entities. This recent rise in share prices follows the recent purchase by KKR of 9.95% stake in Max Financial Services, one of the key demerged entities. As a result of the demerger, stake in Max India Life Insurance is no longer held by Max India; instead, the new demerged entity Max Financial Services officially holds the majority stake in the non-banking life insurer.

    KKR PE Fund Purchases 9.95% Stake in Max Financial Services

    KKR PE Fund announced its purchase of a 9.95% stake in Max Financial Services, one of the demerged entities of Max India Group that currently holds a majority stake of 72% in Max Life. Max Life is a leading private sector player in India’s insurance industry and is currently ranked as the country’s fourth largest life insurer. KKR completed the stake acquisition from an Analjit Singh-led sponsor group. Analjit Singh is currently holds the post of chairman emeritus of the Max Group. As a result of this purchase of equity, Max Group including Max Life receives a infusion to the tune of $140 million based on the current valuation of Max Financial services at $1.35 billion. The KKR investment was completed from the company’s Asian Fund II route via the investment portfolio route. As a result of the current deal, Max Group’s current holdings in Max Financial Services was decreased to 31%.

  • Max Life Insurance Leads Claims Management among Life Insurance Industry Players

    Max Life Insurance, the premier non-bank promoted privately held life insurer, has maintained its lead among private life insurance industry players with its low outstanding claims ratio of only 0.7%. This result was published in the IRDAI Annual Report which took into account data obtained till the 31st of March, 2015. During the period covered in IRDAI Annual Report, Max Life Insurance received 9145 claims and settled all except 6 of the claims that were received during the period. During the Financial Year 2015 to 2016, Max Life Insurance paid a total of Rs245.46 crores in order to cover the claims payout requirement.

    The IRDAI report also showed the private insurer emerging as the private sector life insurance leader in terms of payment percentage, which stood at 96.03%. This computes to a repudiation rate of only 3.9%, which according to the IRDAI Annual Report put Max Life Insurance among the best performers across the life insurance industry.

  • Max Life Insurance Introduces New Logo Subsequent to Demerger

    Max Life, India’s leading non-bank private insurer, has launched a new logo subsequent to the demerger of Max India Ltd., the majority holder in the insurance JV. Subsequent to the demerger, Max Life has begun to operate as a joint venture between the Japan-based Mitsui Sumitomo Insurance Co. Ltd., the minority stake holder and the newly de-merged entity, Max Financial Services Ltd., the majority holder with 72.1% stake. After after the demerger, Max Financial Services Ltd. would continue to operate as a wholly owned subsidiary of the Max Group, which was recently valued at US$2 billion.

    The company’s press release that accompanied the new logo mentioned that the new logo was designed to provide a new look, while retaining the spirit of the insurer’s existing products and services. The logo is expected to promote focus on the organisation’s commitment to performing actions that help ensure the future financial security of existing and new customers. Though currently not separately listed on the stock exchange, the new entity Max Financial Services Ltd. is scheduled to be listed by March this year.

  • Max India Shares Plunge Subsequent to Demerger

    Max India, the majority holder in the private non-bank life insurer Max Life, witnessed a plunge in its share prices subsequent to the group’s demerger into three separate entities. The initial demerger news was made public on 15th January and the three new demerged entities are expected to be listed by March 2016. The group’s share price decline that was computed at 15.59% on January 27, 2016 caused the stock to close at Rs. 398.10 as compared to the day’s opening level of Rs. 419. According to market experts this decline was not unexpected in the post demerger trading session.

    The new entities emerging for the demerger would be listed as Max Ventures and Industries, Max India and Max Financial Services. The record date for entitlement of equity shares in the demerged companies was the 28th of January 2016. Subsequent to the restructure, current shareholders of Max India would retain one equity share of face value Rs. 2 in Max Financial Services Limited, which will now be the majority stake holder in Max Life.

  • Max Group Appoints Rahul Khosla new President

    Max Group, the majority stake holder in the non-banking channel life insurer Max Life Insurance, underwent a reshuffle following the demerger of Max India, the original holding company for Max Life Insurance in India. As per company sources, Rahul Khosla’s elevation to president of the group had been planned ever since he was appointed as managing director of Max India in the year 2011. Subsequent to Khosla’s elevation, the current president Analjit Singh was appointed as founder and chairman emeritus of the Max Group. Following the demerger, the majority stake in Max Life Insurance would be held by Max Financial Services Ltd., which also appointed a new chairman, Naina Lal Kidwai, former chairman of HSBC India.

    Additionally, Rahul Khosla would also act as chairman of Max Life Insurance, while current managing director, Rajesh Sud was elevated to vice chairman of Max Life Insurance. Others assuming key roles in various Max India demerged entities included Tara Singh Vachani, Sahil Vachani and Mohit Talwar.

  • Max Life Insurance gets into 3-way partnership after Axis Bank buys its 5.99% stakes

    MLIC, Max Life Insurance Company gets Axis bank as its new partner. The third largest private financier of India, Axis bank ltd brings its stakes up in MLIC, Max Life Insurance Company which is in 3-way partnership amongst Mitsui Sumitomo Insurance, Max Financial Services and Axis Bank to 5.99% now as per the stock exchange revelations.

    The Max Financial Services educated the stock exchange body that Mitsui Sumitomo sold just 1 % to Axis Bank for Rs 19.19 crores while it sold 3.99% for Rs 76.56 crores. Before this settlement, Axis Bank was holding only 1% stake in the private insurance company. After this settlement, Max Financial Services the recently demerged existence of the Max Group which owned the life insurance tools, Mitsui Sumitomo, and Axis Bank own 68.01%, 25% and 5.99% stakes, separately, in Max Life Insurance. The present settlement has estimated the value of Max Life Insurance at Rs 1,919 crore.

Written By: PolicyBazaar - Updated: 18 June 2020
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 150 Reviews)
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Max Life Insurance Reviews & Ratings
4.1 / 5 (Based on 150 Reviews)
(Showing Newest 15 reviews)
Vaibhav
Bahraich, March 19, 2019
Offers choices of funds
I am writing this to share the attractive plans about max ulip plan as it offers all choices of funds. I experience that each funds represents different criteria.
Lalit
Ambala, October 17, 2016
Above Average
Good to have ulip insurance policy, the insurance is low in budget and service given by the executives and staff members of the insurance company is fast and on time. The benefits are more and the premium is less. Easy claims, less paperwork.
Kishan
Uttamnagar, October 17, 2016
Beneficial Policy
The max life term insurance plan i have bought in low premium is fully satisfactory to me. Services provided by the members of the insurance company is fantastic, online renewal facility reduces the paperwork. The updates regarding insurance plan is mailed to me regularly.
Harsh
Fatehgarh, October 17, 2016
Retirement plan
Now i have no tension for my future security because i have got pension insurance plan which i buy from max life insurance policy. Service is fast and policy coverage is high. Claiming is so simple, online renewal option of the insurance plan is easy because of online portal.
Vaibhav
Howrah, October 14, 2016
Awesome Services
Now, the future of my child is secure with child insurance policy which i buy from max life insurance company. Service given by the staff of the company is fabulous and on time. Executives facilitate the service to customers 24X7.
Sheelpa
Ghaziabad, September 26, 2016
Max life ULIP Plan
Finally purchase a policy by an advice of my friend from max life insurance policy. Service provided is really very nice and on time till last visit. Executives and staff of the company is always ready to help to customer. Coverage is around 90% and claims are as high as coverage.
Mohan
Dehradun, September 26, 2016
Trustable
Max life insurance company provides wide range of insurance policies. I purchased traditional insurance policy. Policy is perfect with many benefits and paybacks. Claims are very easy to cleared with help of the executives of the company. Online portal is for online renewals which is very easy to do.
Kapil
Amalapuram, September 26, 2016
Fair Insurance
Got max life term insurance plan in less premium. The service is fantastic with 24X7 customer service. Online renewals and updates are on website of the company. Policy covers maximum expenditure and claims are simple to sanctioned.
Gagan
Akluj, August 24, 2016
"Superb"
The policy i have is max traditional life insurance policy. My colleague suggested me the plan, the plan is quite interesting so i took it. Service is fast and on time till last visit. Online renewal is possible through online portal which can be handled by anyone because it has simple interface.
Aman
Kurukshetra, August 24, 2016
Good
Max life insurance company is very good one and it provided more benefits in less premiums. Service of the company is best including online renewals. Policy coverage and claims are high. Claiming procedure is very simple and easy to sanction the amount.
Yashu
Ahmednagar, August 24, 2016
Nice Insurance Plan
Max life child insurance plan is very good in coverage and paybacks. Service facilitated by you guys is fantastic. Policy premium is less and claiming is simple because of executives who provides each and every help.
Hitesh
Greater_noida, July 26, 2016
Max insurance plan
My friend suggest me to buy a insurance policy. After some researching i purchase term insurance plan from max newyork life insurance. The insurance plan is perfect. Even the online portal service is so simple anyone can access it. Good returns in low premiums.
Bhavya
Nainital, July 26, 2016
Term plan
Max life term plan of mine is fantastic which has maximum benefits and high returns in less investments. Policy coverage is high ~89% and the claims are easy to get. Service is fabulous provided by the executives and staff of the company.
Raghav
Tajpur, July 26, 2016
Coverage Is High
Maxlife insurance is one of the best insurance company. I took the ulip insurance plan from them and i'm happy to buy it. The service is fast and company members are very responsive all the time. The investment is less but the payback return are high. =
Nadeem
Kurukshetra, July 26, 2016
Investment plan
Max life insurance policy status facilitates me traditional insurance plan which is very nice and it has low premiums too. The coverage is high and claims are even better. Claiming procedure is simple. The renewals are easy to do on online service which can be operated by anybody.
Yashu
Deoli, July 26, 2016
Good policy
Got pension plan by max life insurance. Policy is good and service is nice provided by the company members. Updates of the plan can be seen on webpage and renewal is easy on online portal service. Good coverage and claims are easy to sanctioned.
Sandeep
Sitapur, July 26, 2016
Max child policy
Max child insurance policy i have purchase in very low premium. Policy has many benefits like it covers maximum expenditure which spend for my child in future, after the policy get mature. Claiming is simple and sanctioned easily. I must say service is fantastic.
Prerna
Dapoli, July 11, 2016
ULIP Plan
Service provided by you is fantastic and this makes tension free documentations and paperwork. The claims are easy to proceed because of the team members of the company. Policy coverage and claims are high. Premium is less which make's this insurance policy special.
Jihaan
Lakhanpur, July 11, 2016
Traditional Policy
My investment policy is awesome with some good benefits. Service provided is very quick and due to this the claiming part become easy. Hassle free paperwork and documentations and due to online service the renewal of the policy is simple.
Prem
Haveli, July 11, 2016
Pension Policy
The future of mine and my family is very much safe with my pension plans. The premium of my policy is less but the returns are very big. Maximum coverage is given by the insurance policy each month after the maturity period. The service if fantastic including online service.
Mayur
Bikaner, July 11, 2016
Child Care
The child insurance policy i purchase for my girl is good. The future of her is secure now with this insurance policy. Huge rewards in less investment. Policy coverage and claims are high but the premium is less which is a good thing.
Mayank
Chapra, June 29, 2016
Good
The ulip insurance plan of mine is really very awesome policy. Policy coverage is good and premium is low. Service facilitate by the company members is quick with calm nature. Internet website facility is also there which is simple to use.
Sumit
Bangalore, June 29, 2016
Good
Policy coverage is good and claims are better which easily sanctioned due to fast service provided by the company members. Very good traditional insurance plan, Premiums are low. Service of the internet is good and easy to use.
Bhasker
Alwar, June 29, 2016
Nice Plan
My pension plan is very good insurance policy which gives me lot of benefits during and after maturation of the policy. Service is quick and documentation is simple/hassle free. Policy coverage is high and claims are good.
Jigar
Alibag, June 29, 2016
Good Child Policy
My child insurance plan is superb which I bought for my child. The policy coverage is high and claims are better. Service is perfect provided by the company members. The online service is also good which is easily access by anyone.