Max Life Insurance

Max Life Insurance Plans ensure financial security and stability for your loved ones. The company provides various types of life insurance, such as ULIPs, money-back plans, endowment plans, and more, to cater to the unique needs of its customers. Keep reading to find out more details!

Key Features of Max Life Insurance Plans

The key features of Max Life Insurance Plans are as follows:

• The company provides many comprehensive life insurance plans to cater to the unique needs of individuals.
• The policyholders can purchase a high-sum assured insurance life plan at an affordable premium rate.
• The plans provide tax benefits to policyholders under Section 80C and Section 10(10D) of the Income Tax Act.
• The Max Life Insurance Plan purchasing process is quick and hassle-free.

Best Max Life Insurance Plans

Here’s a list of the best Max Life Insurance Plans:

Benefits of Purchasing Max Life Insurance Plans

Max Life Insurance offers many benefits to policyholders. This includes:

• High Claim Settlement Ratio: Max Life has a claim settlement ratio of 99.51% which indicates the company’s efficiency in settling claims. It is important to note that you should buy term insurance plans from a company that has a higher claim settlement ratio.
• Tax Benefits: Policyholders of Max Life term insurance plans can avail of tax benefits under Section 80C and Section 10(10D) of the Income Tax Act.
• Coverage for Critical Illnesses: Max Life Term Insurance plan provides coverage for up to 64 critical illnesses. At a very affordable premium, you can get coverage for 64 listed critical illnesses. Additionally, plans provide coverage for both permanent and temporary disabilities.
• Rider Benefits: You can also add a number of riders, such as accidental death benefit riders and more, to the Max Life term insurance plan to further enhance its coverage.
• Flexible Policy Term: Depending on your requirements, you can choose a desired policy term when buying a Max Life term insurance plan.

Process To Buy Max Life Insurance Plan

Policyholders can buy Max Life Insurance Plans online in the comfort of their homes. The company provides a simplified purchasing process for its customers. Find out a detailed guide on how to buy Max Life Insurance Plans online in the section below:

Documents Required

• Identity proof
• Income proof
• Address proof
• KYC documents
• Medical reports
• Photographs

Steps You Need To Follow

• Visit the official website of InsuranceDekho.
• Click on “Max Life Insurance Company,” available under the “Life Insurance Companies” section.
• Compare different life insurance plans offered by the company.
• Select the one that suits your financial needs.
• Pay a premium online for your selected insurance plan.
• Once the above process is complete, the policy document will be sent to your registered email address.

Riders Available Under Max Life Insurance Plan

Riders are additional benefits that you can purchase with your base life insurance policy. Policyholders can pay an additional premium to include these add-ons in their plan. Following are the riders you can purchase with your Max Life Insurance Policy:

• Accidental Death and Disability Benefit Rider

The nominees or beneficiaries of the policy get the extra sum assured in case of accidental death or disability of the life assured. Henceforth, the additional sum assured will bring peace of mind to your loved ones.

• Waiver of Premium Plus

Waiver off premium benefit rider waives off all future premium payments in case of the unfortunate demise of the policyholder. The insurer will pay the sum assured to the beneficiary or nominee upon the completion of the policy tenure.

• Partner Care Rider

This rider benefit provides extra protection to the nominees in case of the policyholder’s unfortunate demise. The insurer pays all future premiums to the beneficiaries or nominees if the life assured dies during the policy tenure.

Exclusions Under Max Life Insurance Plan

If a policyholder commits suicide within 12 months of the policy's initiation or the date of policy renewal, the company will not pay any death benefit to the beneficiary, resulting in the termination of the policy. However, the insured will receive 80% of the total premiums paid until the date of death.

Process To Renew Max Life Insurance Plan

A step-by-step guide on how to renew the Max Life Insurance Plan is highlighted below:

• Visit the official website of Max Life Insurance.
• On the left side of the home page, click on the “Renew Policy” tab.
• Enter your date of birth and phone number.
• Click on the “Pay Premium” button.
• Pay a premium through a secure payment gateway to renew your life insurance plan.

The policyholders can also contact customer support at InsuranceDekho in case they need any further assistance.

Process To Claim Max Life Insurance Plan

Max Life has a high claim settlement ratio of 99.51%, which signifies that the company offers a smooth and seamless claim settlement process. The policyholders can either claim their life insurance policy online or offline. Find out about the detailed guide in the section below:

Documents Required

• Death certificate issued by the local municipal authority
• Cancelled cheque or passbook copy of the nominee
• Duly filled death claim form
• Identity proof of the nominee
• Statement of attending physician
• Medical reports
• FIR in case of accidental death
• Post-mortem report copy

Steps You Need To Follow

• Visit the official website of Max Life Insurance.
• Click on the “Claim Center” available on the home page.
• Download and fill out the claim form.
• Upload all the required documents to the portal.
• Submit the claim request.
• The insurer will verify all the details you submit. If satisfied, Max Life will process your life insurance claim request.

To make offline claims, policyholders can visit the branch office of Max Life Insurance. Additionally, you can write to claims.support@maxlifeinsurance.com

Factors to Consider While Buying Max Life Term Insurance

Some of the factors to consider when choosing Max Life term insurance plan are as follows:

• Age: The premium of the Max Life term insurance plan varies depending on your age. The more the age, the higher will be the term insurance premium. This is because the risks of health issues increase with age and so does the term insurance premium.
• Income: While buying a Max Life term insurance plan, you should also keep your income in mind. Depending on your income, buy a preferred term insurance plan that best fits your budget.
• Financial Dependants: When you are buying a term insurance plan with Max Life, it is crucial to keep your financial dependants in mind. If you have more financial dependents, you should buy a term insurance plan with higher coverage. Moreover, you should also keep in mind the time till when will you have financial dependants, as depending on that you will be able to choose the right policy term.