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Max Life Term Insurance Premium Payment

Max Life Term Insurance Plan is a policy that provides financial support to the family of the policyholder in case of his/her unforeseen demise. Max term insurance policy offers high coverage at low premium rates. If you are planning to buy a Max Life Term insurance plan, you first need to decide the payment mode for the term insurance premium.

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The insurers offer various choices. Read on to know more in detail: 

Max Life Term Insurance Premium Payment 

Max Life Term Insurance offers an online premium payment mode as it is a convenient way of paying premiums from your home. It is a safe electronic service that helps customers to make a payment for their policies, outstanding interest and loans, and policy renewals. Online payments can be made by debit or credit cards, net banking, and wallets. Max Life insurance enables a buyer to make payments anytime anywhere in just a few clicks. Policyholders can now choose the most suitable plan online, and can even calculate the premium they will be required to pay based on the coverage using the Max Life term insurance premium calculator

Benefits of Using the Max Life Term Insurance Premium Payment Process 

With Max Life Insurance, pay the premium with ease! Following is a list of benefits of the Max Life Insurance Premium payments process: 

  1. Multiple Payment Options 

    The policyholder has the option to choose from a variety of payment options available as per their suitability 

  2. Branch Drop Facility 

    Drop the cheque at the nearest branch or at the bank branch specified for paying premiums. 

  3. Facility of Cheque Pick Up

    If the policyholder is not able to make payment online or drop a cheque, then the insurer also provides you service as per your convenience. 

  4. Secure 

    Max Life provides a secure gateway to pay premiums when it comes to online transactions. The max life term insurance premium payment online has a number of security measures to ensure that every payment is safe and secure. 

How to Pay Max Life Term Insurance Premium? 

Max Life provides easy and simple online services to their customers for paying policy premiums. There are a number of ways using which a policyholder can make Max Life term insurance premium Payment. 

  1. Max Life Website 

    • Visit the official website of Max Life Insurance 

    • Select ‘Manage your policy tab’ and click on ‘Pay your premium online’.

    • You will be redirected to a new page of Max Life Insurance Online Payment 

    • Enter all the details such as policy number, date of birth, and other details related to the policy 

    • After confirming all the details, you can choose any of the following Max Life term insurance premium payment options and proceed to pay the amount. 

  2. Net Banking 

    Another popular method to pay a premium amount is net banking. Generally, this option is applicable for those who have a bank account that offers this facility. If the policyholder has a bank account that does not offer a net banking option, they have to select some other method to pay a premium. But if the policyholder’s bank account is registered for net banking, then you are only required to enter username and password to make the payment. 

  3. E-wallets 

    Other than net banking, Max life insurance also provides various e-wallet options such as Airtel Money, Paytm, Google Pay, PhonePe, to pay premium amounts. In such cases, the user has to choose a suitable e-wallet from the website and proceed with payment. Install an e-wallet on your phone before making any payment as this will make your payment process convenient. 

  4. Foreign Remittance 

    In the case of NRI policyholders or for those individuals who are in another country while making payment, they can use the foreign remittance option. NRIs can also pay premium payments using a net banking facility as well. 

    Five things to know before buying Term Plan Five things to know before buying Term Plan
  5. InstaPay Service by Bank 

    There are a number of banks in India that offer InstaPay facilities to make an online premium payment. Under this, the policyholder has to visit their bank’s official website and choose instaPay facility (if they are registered), and proceed with the payment steps. 

  6. Credit/Debit Card 

    Credit/Debit cards can also be used to make Max Life term insurance premium payments online. Select the credit/debit card option and enter the 14 digits of your card, CVV, and other required details and click on ‘Pay’. 

  7. Amazon Pay 

    Open the Amazon application and visit the Amazon Pay section. Then go to insurance and select insurance premium. Choose Max life insurance from the insurer’s list and fill in all the required details such as policy number and date of birth. Proceed to pay. 

  8. Cheque

    Write a cheque payable to Max Life Insurance Co. Ltd. followed by your 9-digit policy number and submit it to the nearest bank branch of the insurer 

  9. Renewal Cheque Pick Up

    Select ‘Submit Cheque pick-up request’ for online submission of cheque pick up request 

  10. Max Life Insurance Branch 

    In case of any query regarding any payment method, you can easily contact the insurer by calling on their helpline number – 1860-120-5577 and submitting the payment. Do not forget to collect the acknowledgment slip after the payment. 


Information Required While Making Max Life Term Insurance Premium Payment 

Here is a list of important points to keep in mind while making Max Life term insurance premium payment 

  • Max Life offers both online and offline modes of payment. Choose the mode as per your suitability to complete the process smoothly

  • Life assured should always provide correct details and registered mobile number and email ID while making premium payments. 

  • If you are not able to make payments on the due date, then you can get an extra time period to complete the payment. 

  • Premium payments are allowed for active policies. You can also download the premium payment receipts after the payment of premiums. 

  • Use the Max life term insurance premium calculator to get the estimate of the premium amount you are required to pay. 

  • Max life term insurance premium payment portal only accepts cards issued by domestic banks. International cards are not accepted.


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