Max Life term insurance plans can be purchased both online and offline. The customers who lead a fast-paced life prefer the online method as services related to the policy are readily available for the masses. The online portal of the insurer, the mobile app, and the social media presence play an essential role in winning the customers and providing them with the utmost satisfaction of purchasing the plan. The customer can avail of tax benefits as per the income tax laws.
Max Life insurance provides cutting-edge technology to address the needs of its customers. The insurer's official website is well-connected with the bank servers and assists in net banking, NEFT, debit card, and credit card payments. The website is also integrated with Fintech services such as UPI and BBPS to facilitate digital transactions. The customer can purchase the term insurance online and offline. The customer needs to visit the branch offices of the insurer for queries, clarifications, and payments. The policyholder needs to wait in line for his turn to get an appointment with the representative.
The online method is the most convenient method for the life insured. The plans offered by the insurer, such as term plans, savings plans, and retirement plans, can all be purchased online in a relaxed manner. The term plan is structured to provide a financial shield to the family by ensuring income if the policyholder dies in an unforeseen manner. The ULIP plan provides market-linked returns to the customer with greater returns and more significant risks.
Max Life Insurance Company Limited offers all plans online and is easy to buy. The online method provides continuous support to the customers. The policyholder can get first-hand information related to new product releases directly from the insurer. The company also has a strong presence on social media platforms, constantly engaging with the customers and providing solutions to their problems.
The company also has a YouTube channel to provide detailed information on their insurance product with the help of video, audio, narration, and graphics. The company also provides an online calculator for its customers to determine the premium rate required for the plan. The calculator also helps the applicant to select the right plan by providing his budget details.
The primary function of the online method is to make hassle-free premium payments. The policyholder can use the chatbot that provides an option to make payments. The customer can also view, modify and renew policy details. The policyholder can also raise grievances with the click of a mouse.
The other aspect of the online method is the availability of help round-the-clock. The policyholder with good internet connectivity can avail of the services from any part of the globe at any given time.
The online services are provided by the insurer for free of cost with excellent efficiency and with a value for time, making it the most preferred method by the customers. It eliminates the need for long-standing queues and provides the services at the policyholder's doorstep.
The customer needs to visit the insurer's branch office and interact with the representative to register for an online account.
The representative will collect the applicant's details, policy number, mobile number, and email address to proceed with the registration.
The applicant will receive a message from the insurer stating that he has been successfully registered for online services. The insurer informs the applicant through a text message stating that the applicant can opt to use the policy number in combination with his date of birth to log in to the insurer's website.
Step 1: With his policy details, such as policy number, the customer can visit the online domain of the insurer and select customer login on the home tab of the web page.
Step 2: The applicant needs to click on the customer login tab to access his online profile.
Step 3: On clicking the customer login tab, the customer will be redirected to the login page, where the customer can opt to log in either with his email address or with his mobile number.
Step 4: The website displays the mobile login page by default.
Step 5: The customer can provide his registered mobile number along with his date of birth to sign in.
Step 6: The insurer will send a one-time password to the registered mobile number of the applicant for verification. The customer will be given half a minute to enter the one-time password, after which the password will automatically expire.
Step 7: The policyholder can also opt to use the policy number to sign in to his online account in place of a mobile number. The insurer will send the one-time password again to his mobile number for verification.
Step 8: The policyholder will have access to his online account upon successful verification. If the customer opts to log in with his email address, he needs to click on the link 'login with an email address found at the bottom right of the credentials area of the web page.
Step 9: If the customer clicks the login with an email option, he will be redirected to another web page where his email address and date of birth will be required.
Step 10: The customer needs to provide his registered email address and the date of birth in combination. The insurer will then send a one-time password to the policyholder’s email address for authentication.
Step 11: The one-time password is valid only for fifty seconds, after which the password will self-expire.
Step 12: The customer can sign in after the verification process is completed successfully.
If a customer is unable to log in, it is recommended to visit the insurer's branch office to solve the problem. The representative will help the customer in resetting the credentials.
Online account creation reduces human effort related to managing one’s policy. Some of the advantages of using online login are as follows.
The online method provides an effortless way of making payments. The applicant clicking the pay premium link will be routed to another web page with different platforms to choose from in order to carry out the transactions. Some of the payment platforms include net banking, UPI, foreign remittance, direct debit, etc. The applicant can choose the payment option from the list provided on the website to make payments at the customer's convenience. The customer needs to have his policy number in order to renew or pay his premium. The applicant can also track his application online with the features provided by the insurer.
The policyholder can settle claims online without going through tedious paper works. The customer needs to click on the link 'claim centre' under the customer login tab to reach the insurer's web page, where data related to the claim are furnished. The insurer has published various online resources concerning claims along with a claim tracker and claim FAQs. The customer can contact the claim centre and post queries related to the claim processes.
The policyholder can download brochures in digital format and save them on a portable device. The policyholder needs to click on the customer login tab and select the download link to be routed to the insurer's web page that contains brochures and application forms for different purposes.
The insurer has uploaded all the documents related to the insurance products on their official website to facilitate the policyholders in providing information related to a specific plan. The download section of the web page also has form sixty, which the customer can use to file tax returns.
The policyholder can opt to use the auto-debit feature, which helps the policyholder to transfer funds from his bank account automatically by a pre-programmed set of instructions given to his debit card.
The instructions are also given to the customer's bank account to deduct a specific amount on or before the due date of the premium. The auto-pay feature helps the customer to renew the policy without any delays. The auto-pay feature can also be added to the credit card in a similar fashion.
The insurer's website provides a link to the help section, where queries related to various policies and commonly asked questions by several other policyholders are published. The insurer has created a section exclusively for its customers to interact via question and answer. The customers can post their questions on the web page of the insurer. On the other hand, the insurer will use their representative to answer the questions posed by each customer on the community web page. The customer can receive policy-related updates through WhatsApp messaging platform and on social media platforms.
The policyholder can check for an unclaimed amount by signing into his online account. The customer needs to click the ‘unclaimed amount’ link under the customer login tab; he will be routed to another web page that displays the requirements for the unclaimed amount.
The customer needs to enter his name, date of birth, policy number, and PAN card number to proceed with the request for checking the unclaimed amount. The insurer updates the information related to the unclaimed amount on a half-yearly basis.
The policyholder needs three parameters to log in to his account successfully. The important parameters are as follows:
The insurer will also ask for the occupational details of the applicant to get insights and improve services. The applicant also needs to carry with him some documents such as identity proof, address proof, and income proof. The commonly accepted identity cards are Aadhar Card, passport, driving license, voter's identity, and PAN card.
Some of the key benefits of purchasing a Max Life term insurance plan are as follows.
The customers prefer the online plan because of its affordability. It offers life cover at cheap rates. The plan is also offered at better rates if one buys it at an earlier stage of life.
The plan offers cover for several illnesses and life-threatening diseases. The term plan provides critical illness benefits to receive suitable treatments without financial constraints.
The online plan provides more extended life cover for the policyholder. It provides life cover till the ripe age of eighty-five.
The plan offers permanent disability benefits if the policyholder becomes physically disabled after an unforeseen road accident. The insurer can waive the future premiums and provide income to the policyholder.
Max Life Insurance Company Limited is one of the leading private companies in the business of insurance. The company is known for its contributions to the field of health and well-being. It provides various insurance products related to savings, retirement, and health, thereby contributing to all-around aspects of its customers. The most favoured insurance plan is a term plan that provides more extended cover to the policyholder's family.
A1. Yes, it is good to buy an online insurance plan because it offers extended life cover and provides financial protection for the policyholder's family.
A2. The plan's cost is determined based on the applicant's age, annual income, and medical conditions.
A3. The maximum age limit for buying the term plan is 60 years.
A4. Yes, the online plan covers the natural death of the life insured.
A5. The traditional insurance cover is recommended to be ten times more than the annual income.
A6. Yes, the applicant can purchase multiple policies.
A7. The applicant must submit identity proof such as a passport, voter's identity, and PAN card.
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