Max Term Insurance Claim Process

Read on to know more about the Max Term Insurance Claim process 

Max Term Insurance Claim Process 

Max Life Insurance Company is one of the popular private insurance companies in India. The insurer has one of the best CSR (claim settlement ratios) among private sector insurance providers. It has featured a CSR value of 99.35% in FY 2020-21, indicating the faster claim settlement. Max Term also offers 24X7 customer support service and quick and seamless claim settlement. 

How to File Max Term Insurance Claim Process?  

Max Term Insurance plans provide support to you and your loved ones in case of any unfortunate event. It is suggested to choose an insurer that offers a high CSR. The higher Claim settlement ratio means the quick settlement of death claims. Insurers provide both offline and online options to register a death claim. Here’s a quick laydown: 

1. Max Term Insurance Claim Online

   Max Term Insurance Claim process via online mainly involves 3 easy steps: 

   Step 1: Claim Registration and Submission of Documents 

   A claimant is required to provide all the correct details about the claim to the insurance company and upload the requested documents. The claim request number will be provided on the successful submission of claim details. 

   Step 2: Claim Evaluation 

   After submitting all the documents, the claim information will be analyzed and investigated based on the information provided by the claimant 

   Step 3: Decision and Settlement of Claim 

   At the final phase, the claim would be approved and then settled. Payment is made to the bank account of the beneficiary via ECS or by cheques. In case the claim assistance team rejects the claim, the information will be provided to the claimant mentioning the reasons for rejection. 

2. Max Term Insurance Claim Offline? 

   Max Term Insurance Claim process can be reported by providing written notice to Max Insurance company through an advisor, or by walking to the nearest branch office or by email at claims.support@maxlifeinsurance.com or you can also call on their toll-free number 1860-120-5577

Documents Required For Max Term Insurance Claim Process 

Following documents are required to register a death claim: 

• Policy Documents – Original 

• Death certificate (Original/attested copy) issued by a local municipal authority 

• Form A i.e., Death claim application 

• NEFT mandate application verified by bank authorities 

• Bank passbook and cancelled cheque 

• Photo ID proof of Nominee such as passport copy, voter ID, PAN card, UID (Aadhar) card, etc. 

Additional documents requested based on the cause of death 

In case of natural death 

• Statement of Attending doctor (Form C)

• Medical records and reports such as death/discharge summary, test reports, admission notes, etc. 

In case of Unnatural/Accidental death 

• FIR/Police inquest/Panchanama copy 

• Autopsy/Post mortem report/Viscera report 

• FPIR (Final Police Investigation Report) copy and charge sheet 

A Quick Look at the Max Term Insurance Claim Process – Why it is Unique? 

• Max term life Insurance has launched InstaClaimTM, which settles all the death claims within 1 day of getting the claim receipt. This is subjected to the below T&Cs: 

  • The amount of claim on all eligible policies is up to 1 Crore

  • Claims are mainly for the policies that have finished 3 continuous years 

  • All the compulsory documents have been submitted before 3 pm (working day)

  • The claim does not require any verification for the field. 

• Max term lLife Insurance has achieved a claim settlement ratio (CSR) of 99.35% for FY 2020-21 as per the IRDAI Annual Report. 

• ‘Claim Guarantee’ option is introduced by Max life for a seamless death claim process. If the company does not settle claims within 10 days of receiving the receipt of the documents from the claimant, the company will pay the insured amount along with interest on the total due amount. 

• Fund values for death claims on all ULIPs are paid within 2 days i.e., 48 hours from intimating the claim 

• The ‘Claim Center’ section on the official website offers important claim details. The claimant can download the claim form from the website or visit the nearest insurer’s branch. 

• The insurer also has a customized service as a committed claims relationship officer. It is mainly useful at the time of settling death claims to get death payout, where the nominee is guided about the insurance money withdrawal in time. 

• With the availability of 24X7 customer support, the company provides quick resolution to complaints and queries. 

• There are different ways by which a nominee can register a claim with the insurance company: 

  • Contacting an advisor 

  • Visiting nearest Insurer’s office 

  • Write an email to support@maxlifeinsurance.com 

  • Call on helpline number 1800-200-5577

FAQ's