Max Life Insurance

Claim Settlement Ratio - 99.2%*
*Data according to IRDA Annual Report (2018-19)
*Please note that the quotes shown will be from our partners

Max Life Insurance Company, established in 2000, is a private insurance company in India. It 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. It offers comprehensive life insurance and retirement solutions for the long-term savings and the protection to more than 30 lakh customers.

What is Max Life Insurance?

Max Life Insurance offers inclusive protection, long-term savings, and retirement solution to the insurance seekers. The policies 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, the company has progressed 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%, the 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: The 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%, the 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 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. The company 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

The company offers many benefits to insurance holders. Let’s take a look at it:

  • The company 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 policies also provide the advantage of tax exemption U/S 80C and 10(10D) of Income Tax Act.
  • An individual can purchase policy online in an easy and hassle-free way.
  • The plans offered by the company 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:

Term Insurance Plan

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

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. 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, 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.

Savings and Income Plans

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. 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. 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 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 Plans for Senior Citizens in India

The Max life insurance plan for senior citizens are specifically designed to provide them financial coverage against any type of eventuality. These plans offer 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 various retirement plans 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 Plans for Child

To secure the financial future of the child, Max Life Insurance offers child insurance plan 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 plan:

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

Max Life Insurance Riders:

Add-on rider benefits are used 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.

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.

You may also like to read: What is an Annuity | Types of Annuity

Max Life Insurance - FAQs

  • Q:How to surrender Max Life Insurance policy?

    Ans: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.
  • Q:How to pay Max Life Insurance premium online?

    Ans: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
  • Q:How to check the policy status in Max Life Insurance?

    Ans: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

  • Q:How to link Aadhar with Max Life Insurance policy?

    Ans: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.
  • Q:How to change nominee in Max Life Insurance policy?

    Ans: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.
  • Q:How to download Max Life Insurance premium receipt?

    Ans: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.
  • Q:How to know the fund value of Max Life Insurance policy?

    Ans: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.
  • Q:How to change the address in Max Life Insurance?

    Ans: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).
  • Q:Where is Max Life Insurance head office?

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

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

    Ans: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.
  • Q:Can I apply for Max Life Insurance Policy Online?

    Ans:Yes, you can apply for Max Life Insurance policy online.
  • Q:I wish to change the mode of premium payment? Is it possible?

    Ans:If the policy is active, then upon the anniversary of the policy the change of the premium payment mode is possible. Anyone who wishes to avail this can do so by signing the form and sending it to the insurance company.
  • Q:Is it possible that the premium payment is collected from my house by an executive of Max Life Insurance?

    Ans:Yes, the premium payment can be collected from the house by an executive of Max Life Insurance within seven days from the requested date that has been placed. It is to be noted that this facility is provided in selective cities. Moreover, the request for the premium payment can also be done through our customers' support.

    You need to dial 1860-120-5577 that is a toll-free number and drop a mail to: service[dot]helpdesk[@]maxlifeinsurance[dot]com

  • Q:How to get a reminder for premium payments?

    Ans:The reminders will be sent by Max Life Insurance before the amount is debited from the source account. This is done to ensure that the account has a sufficient sum to be debited.
  • Q:Will I get a receiving for my auto regular payments of premium made to the insurance provider to keep the policy active?

    Ans:The official receipt will be shared with you once it is substantiated the premium payments have been made to the insurance company regularly and the policy is active.
  • Q:How feasible is it to cancel this facility post registration?

    Ans:By writing a request to the nearby branch of Max Life Insurance you can easily cancel this facility.
  • Q:Is it possible to revive the policy after 180 days?

    Ans:As prescribed within the policy contract, the policy can be revived under the period of revival. All you need to do is send in a completed health declaration form and provide proofs of insurance acceptability as mentioned in the company's practises of underwriting. In case of any unpaid or overdue premiums, the charges need to be paid.
  • Q:What are the documents that need to be submitted for processing the maturity claim?

    Ans:Listed below are the documents that need to be submitted to process the maturity claim:
    • The original pack of policy
    • A copy of identity proof
    • Form M
    • A cancelled cheque in case of NEFT with a pre-printed copy of the passbook of the bank that is attested by the bank on details of the account in Form M.
  • Q:How to cancel the Max Life Insurance policy?

    Ans:Once the policy pack is delivered to the respective customer the freelook period is initiated for the policies that have been bought offline or online. The freelook period for the offline policies is 15 days whereas in the case of online policies it is 30 days.

    Anyone who wishes to cancel the Max Life Insurance policy should follow the below process:

    • Avail the freelook cancellation letter of the form.
    • Visit the nearest branch of the insurance provider in case you had purchased the policy offline. In the case of on an online case use the registered email id.
    • Furnish the printed copy of cheques that are cancelled with account number and name. In case it is not printed, then a copy of the statement of the bank passbook along with the details of the account holder. Next, also furnish the original policy pack.
    • The self-attested identity evidence.
Written By: PolicyBazaar - Updated: 21 October 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 25 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.
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