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Max Life Insurance Benefits

Max Life Insurance is a leading insurance company in India and offers a range of life insurance products, such as term plans, savings plans, child plans, retirement plans, and group plans. These products are designed to cater to the diverse needs of individuals, families, and businesses. The insurer is known for its customer-centric approach, innovative product offerings, and strong financial performance. In this article, we will learn about the different benefits of Max Life Insurance and the steps to buy their plans. 

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Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
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We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
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The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
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Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
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In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

What Are The Key Benefits Of Max Life Insurance?

Max Life Insurance offers a wide range of benefits to its customers for their simplified insurance experience, and some of them are listed below:

  1. Multiple Variants of Death Benefit 

    Max Life Insurance provides you a total of 7 death benefit variants to allow you to customize your protection at reasonable prices. You can avail your preferred variant from out of the following list at the time of the initial purchase:

    • Life Cover

    • Inflation + Income Protector

    • Life Cover + Increasing Income

    • Life Cover + Income

    • Income Protector

    • Reducing Cover

    • Increasing Cover

  2. Multiple Options of Premium Payment

    Max Life Insurance allows the policyholder to choose from the below listed premium payment options, whether for a limited period or for the entire policy term:

    • Monthly

    • Quarterly

    • Half-yearly

    • Yearly

  3. High Claim Settlement Ratio

    Max Life Insurance has a high claim settlement ratio of 99.34% in 2021-22, which means that it settles a large percentage of claims that are filed by the claimants/nominees of the deceased policyholders.

  4. Strong Solvency Ratio

    Max Life Insurance has a strong financial position with a Solvency Ratio of 2.04 in financial year 2021-22, indicating its ability to meet its obligations to policyholders and solving their claim requests easily.

  5. Premium Back Variant

    This variant is available for the Max Life Smart Term Plan and provides a benefit in the form of a ‘premium back’. Under this option, 100% of the all paid premiums, along with the extra underwriting premiums, will be paid once the policy term is over and the policyholder successfully outlives the policy period. However, you will only be able to choose this option at the time of initial purchase. 

  6. Multiple Riders Options

    Max Life Insurance offers multiple riders that can be added to the base policy for enhanced coverage, such as Accelerated Critical Illness Rider, Waiver of Premium Plus Rider etc.

  7. Option of Life Stage Add on Sum Assured

    This option allows the policyholder to avail the benefit during future life stages, such as wedding, childbirth, home loans etc. 

  8. Tax Benefits

    Max Life Insurance policies offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

How To Buy Max Life Insurance From Policybazaar?

Below mentioned are the steps to buy Max Life Insurance from Policybazaar:

  • Step 1: Visit the Life Insurance page of Policybazaar

  • Step 2: Choose Term Insurance from the two options available; i.e. Term Insurance and Investment Plan

  • Step 3: Fill your details, like Name, Contact Number and DOB

  • Step 4: Fill in the rest of the required details, like Smoking Habits, Educational Qualifications, Annual Income and Occupation type; and then Click on ‘View Plans’

  • Step 5: Select the Max term plan from the list of options mentioned to you

  • Step 6: Submit your full name, occupation, email, qualification and annual income

  • Step 7: Fill in your city, pincode and nationality

  • Step 8: Choose a preferred payment option and pay the premium to complete the purchase

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Wrapping It Up!

Max Life Insurance provides an array of plans for each of your requirements and makes sure that the claims are settled without hassle. They also offer 24x7 customer care service to those who require assistance or need to solve their queries.

FAQs

  • Q. Is Max Life insurance a good choice?

    Ans: Max life insurance is one of the best insurance companies in the country. With over 99% Claim Settlement Ratio in financial year 2021-22, they are easily one of the most trustworthy insurers.
  • Q. Is Max Life Insurance a reliable provider of claims?

    Ans: Max Life has one of the greatest claim settlement ratios for the fiscal year 2021-22, with a CSR of 99.34%. This implies the corporation has a higher chance of satisfying your family's claims in the event of your untimely death.
  • Q. What does the term "cash value" in Max life insurance mean?

    Ans: The net cash value of a life insurance policy is determined by the amount remaining after the insurer deducts the fees and other expenditures spent during the policy's ownership.
  • Q. What is maturity benefit amount in Max Life Insurance?

    Ans: The maturity amount in Max life insurance means that the sum of premium amount paid upto that time and the extra benefits which the insurer choose to give to the life assured. You will be eligible for this in case you have paid all your premiums and ended the policy term.
  • How to calculate the term insurance premium online?

    Ans: You can easily calculate the term insurance premium online by using the term plan calculator online tool
  • What are the benefits of term life insurance?

    Ans: Here are 4 common benefits of term insurance:
    • Low premium rates
    • Tax Benefits
    • Death Benefit
    • Long term coverage
  • What are the benefits of term life insurance?

    Ans: Below mentioned are the key features of a best term insurance policy in India:
    • Affordable premium rates
    • Long-tenure life protection
    • Easy to understand and buy
    • Riders availability
    • Whole life protection
    • Tax benefits
  • What are the key features of a best term insurance plan in India?

    Ans: Let's understand what is term life policy here. Term insurance offers financial protection for a certain period to the policyholder, thereby, offering a lump sum payout if the policyholder unfortunately passes away during the policy term.

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