Max Life Insurance

4.1 / 5 based on 149 User Reviews
Claim Settlement Ratio - 96.95%*
*Data according to IRDA Annual Report (2015-16)
*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.  

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

Max Life Insurance was ranked fourth among private life insurance companies with a 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.

As on 31st March 2014, Max New York Life Insurance had assets under management of Rs. 24,716 crore. The company won the trophy for “Best Underwriting Initiative of the Year” in the Asia Banking, Financial Services & Insurance Excellence Awards.

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


Super Term Plan

Term Insurance Plan

10 – 35 years

18 – 65 years

75 years


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)


50 – 80 years


Single pay

Forever young Pension Plan

Unit Linked Pension Plan

10 years – 75 years minus age at entry

30 – 65 years

75 years


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)


Product Portfolio

Max Life Term Plans:

These are comprehensive life insurance plans that fulfill the protection needs for you and your family.

  • Max Life Online Term Plan Basic Life Cover
  • Max Life Online Term Plan Life Cover + Monthly Income
  • Max Life Online Term Plan Life Cover + Increasing Monthly Income
  • Max Life Super Term Plan
  • Max Life Platinum Protect II
  • Max Life Premium Return Protection Plan

Max Life ULIP Plans:

These are insurance cum investment plans that aim to make your money grow and also provide you with flexibilities to manage your investment.

  • Regular Premium
  • Max Life Fast Track Super plan
  • Max Life Maxis Super Plan

Max Life Pension Plans:

Pension plans help you to save for your old age so, that you maintain the same life style even after you retire.

  • Max Life Forever Young Pension Plan
  • Max Life Guaranteed Lifetime Income Plan
  • Max Life Life Perfect Partner Super

Max Life Child Plans:

Child plans helps you accumulate and plan your finances to fulfill your child’s dreams and aspiration.

  • Max Life Shiksha Plus Super Plan

Max Life Investment Plans:

Maxlife insurance plans help you save systematically to achieve your life’s goals and provide you with a comprehensive coverage.

  • Max Life Guaranteed Income Plan
  • Max Life Whole Life Super
  • Max Life Life Gain Premier

Compare all Max Life insurance plans from other life insurance companies in India to get the best insurance plan that suits you most.

Max Life Distribution Network:

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

Max Life Insurance - FAQ

1. How to pay a premium? What are the modes of payment available?

The Max Life Insurance company Ltd. offers 6 modes of premium payment namely:

  • Cash payment at the branch
  • Online Payment
  • ECS
  • IVR
  • Credit card Instructions
  • Direct Debit
  • EBPP
  • Payment at Axis Bank Branch
  • Payment at Axis Bank ATM
  • Your bank branch
  • Sky pack Drop boxes
  • Get the premium cheque collected from home within 7 days. You can call for this service on the toll free number 1800-180-5577 (BSNL/MTNL) or 1800-200-5577 (GSM/CDMA/Others)

For the online payment mode, the policyholder can pay via;

  • Credit Card,
  • Debit Card
  • Net banking

2. How can I check policy status?

Registered users can check policy status online. Login with your username and password on the LOGIN tab give on the company’s home page


3. What is the policy renewal process?

For policy renewal online follow these 3 easy steps

Step1: Enter your Client ID and Date of Birth to login into e-portal

Step2: Enter the policy details and payment method (Debit/Credit Card or Net Banking)

Step3: Save/print premium deposit receipt on successful payment intimation

Alterantively, you can pay via cash/cheque at any of the nearest branch.

What is the company’s process to settle claim?

For claim settlement the nominee can visit the nearest branch with all the policy documents and the revlant claims form. The claims are settled within 10 working days from collection of all necessary documents for claim settlement.

What is the policy cancellation process?

For cancellation you need to visit the nearest branch in person with policy documents and surrender form. Upon successful proceedings, the refund will be directly apid in your bank account.

Max Life Insurance - Latest News

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 cash 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.

Max Life Insurance Reviews

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.

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.

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.

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.

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.

September 26, 2016


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.

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.

August 24, 2016


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.

August 24, 2016


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.

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.

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.

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.

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. =

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.

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.

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.

July 11, 2016


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.

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.

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.

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.

June 29, 2016


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.

June 29, 2016


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.

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.

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.

April 20, 2016

Perfect Policy Plan

I finally buy max life insurance traditional policy plan. Policy covers almost all cases and the amount of returns is around 40 L. Service provided is fast and on time. Good future investment which save taxes. Nice services facilitate by executives and staff members.