Max Life Insurance Benefits

Max Life Insurance is a joint venture between Max Financials Services Ltd. and Mitsui Sumitomo Insurance Co.Ltd. Formed in the year 2000, the insurance company provides a wide range of life insurance products such as term insurance, unit-linked plans, retirement plans, participating and non-participating plans, child plans, health pension, annuity, savings, protection, and growth plans to individuals and groups. The main objective of Max Life Insurance is to make the claim process quick and seamless. Max Life insurance believes in empathy, accountability, and being transparent to its customers and their family members.

Benefits of Max Life Insurance

The following are the important Max Life Insurance benefits provided by the Max life company to its customers.

• Affordable Protection: Max Life Insurance provides comprehensive life cover on the payment of relatively low premiums. Some plans of Max Life Insurance include both Death Benefit and Maturity/Survival Benefit, and some of the plans serve the dual purpose of life cover and investment, enabling you to plan multiple financial objectives well in advance.
• High Claim Settlement Ratio: Companies with a high claim settlement ratio can be trusted while purchasing insurance plans. Max Life Insurance has a 99.22% claim settlement ratio in FY 2019-20. CSR refers to the claims that an insurance company settles against the ones it had received during a financial year. The higher the CSR, the higher are the chances of getting your insurance claim paid.
• Wide Range of Products: Max Life Insurance offers a wide range of comprehensive plans to cater to the requirements of the customers. Every plan has its own benefits so the customer can choose from the wide range of plans that is best suitable and convenient for them.
• Customizable Payouts: Some plans of Max Life Insurance offer flexible premium payouts options such as One Time Lump Sum Payout, One Time Lump Sum Fixed Monthly Payouts, and One Time Lump Sum+Increasing Monthly Income.
• Award-Winning Services: Max Life Insurance has won several accolades. Max Life Insurance was awarded the “Best Term Plan Company of the Year'' by CMO Asia Awards. It has been awarded “Disruptor Technology Innovator of the year” by ET BFSI Excellence Awards 2019. It has been awarded “Claim Service Leader” by CMO Asia Awards. According to Economic Times, Max Life was ranked 24 in India’s Top 100 Companies to Work for as recognized by Great Place to Work Institute 2020.
• Exceptional Customer Services: The Max Life insurance company values its customers and provides exceptional customer services. Max Life Insurance has reshaped the insurance industry with “Industry-first modifications” such as it is the first and only life insurance company in India to implement “Lean Methodology Of Service Excellence” for better claim settlement. It is the first company to provide customer friendly provision of a “Free Look period” of 15 days to the customer and also the first life insurance company in India to provide 24x7 assistance to their valued customers over the phone.
• Tax Benefits and Exemptions: Under Max Life Insurance Plans, you are entitled to certain tax benefits on your premiums and maturity benefits. These benefits will be as per The Income Tax Act at the time of payment of premiums or receipt of benefits, which are subject to change.