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Max Life Insurance Claim Settlement

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Highlights
Claim Complaints Ratio99.51%
Claim Settlement Ratio99.35%
Death Benefit Paid For15,342 Policies
Presence269 Offices
Total Death Benefit Paid562.54 Crore

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1. Premium has been calculated for coverage till 60 years
2. Eligibility depends on income, occupation and educational qualification

Claim Settlement of Max Life Insurance

Max Life Insurance provides a simple and hassle-free claim intimation and settlement process. The insurer follows the principle of being ‘Fairest, Fastest and Friendliest’ in processing claims and they ensure that the amount of claim is received to the entitled person/family quickly and easily. Max Life assigns a dedicated claims relationship officer for every death claims to guide claimants through every step of the claim process. For the Financial Year 2020-21, the company had a high Claim Settlement ratio of 99.35%.

  • How To Make Claim

    Max Life Insurance Claim Settlement Process - Online

    Max Life Insurance has a 3 step hassle-free claim settlement process. The process is as follows:

    Step 1: Submit Claim Information

    Submit the information about your claim on the Max Life Insurance website. Fill out the information such as Claim Information, Information about Life Insured, Information about Claimant, and Contact Information of the Claimant. This information will make the process faster and easier.

    Step 2: Upload Required Documents

    After submitting the necessary information, it is mandatory to upload the required documents with the information provided.

    Step 3: Submit Claim Request

    After the successful submission of required documents and information, a request number will be provided for further processing.

    Max Life Insurance Claim Settlement Process - Offline

    Max Life Insurance provides the facility of requesting the claim at the Max Life Insurance branch office. The Process is as follows:

    Step 1: Claim Registration and Documents Submission

    To request a claim at the Max Life Insurance branch office, the nominee needs to register the claim and submit the required documents and information so that claim can be processed further. 

    Step 2: Claim Evaluation

    After registering the claim and submitting the necessary documents required for the claim the is evaluated. The claim is evaluated to make sure there is no loophole.

    Step 3: Claim Decision and Settlement

    Based on the evaluation of the claim, an appropriate decision will be taken and the claim will be settled.

  • Documents Required

    Documents Required To Make Max Life Insurance Claims

    Following is the list of mandatory documents required for Max Life Insurance Claim:

    Claim Type

    Documents Required 

    Death Claims

    • Original Policy Documents
    • Death claim application form (Form A)
    • Original or attested copy of death certificate issued by the local municipal authority
    • Cancelled cheque or bank account passbook
    • NEFT mandate attested by authorities of the bank
    • Nominee’s Photo ID Proof

    Additional documents depending on the cause of death: 

    • In case of Medical/Natural death:
    • Attending physician's statement (Form 'C')
    • Medical records including discharge/death summary, admission notes, test reports, etc.
    • In case of Accidental/Unnatural death:
    • Copy of the Final Police Investigation report or Charge sheet
    • Copy of the First Information Report or Panchanama/Police complaint
    • Copy of Post Mortem report or Autopsy and Viscera report

    Health Claims

    • Health claim application form
    • Attending physician's statement
    • Attested copies of all medical records 
    • NEFT mandate form

    Cancer Claims

    • Cancer Insurance Claim Form - Form CA
    • NEFT Form

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Claim Process at Max Life Insurance

  • 1

    Claim Intimation

    In the event of the death of the life assured, the insurance company should be intimated as early as possible.
  • 2

    Submission of Documents

    For easy claim settlement, claim form, original policy document, death certificate and others documents should be submitted on time.
  • 3

    Claim Evaluation

    After successful submission of documents, the insurance company will thoroughly evaluate the claim filed.
  • 4

    Claim Settlement

    If claim request is approved, claim is settled within 30 days. In case of additional investigation, claim process may take 120 days.

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Max Life Insurance Claim Settlement FAQs

  • Where can I submit claim documents?

    You can submit the claim documents at nearest Max Life Insurance branch.

  • Who will receive the claim benefit?

    The claim benefit can be received by the nominee you appoint while you purchase the insurance policy, the policyholder or the assignee the person in whose favour the policy has been assigned.

  • What is the time period of claim settlement?

    The valid claims are settled within 30 days after all necessary documents /clarifications have been received. In case the claim needs further verification, it may take upto 120 days to settle the claim. When a claim settlement decision is taken, it is communicated to the claimant.

  • How will I receive the claim amount?

    You will receive the claim amount as per the option chosen by you while submitting claim documents.

  • What is the Claim Settlement Ratio of Max Life Insurance?

    The Claim Settlement ratio of Max Life for the Financial Year 2019-20 was 99.22%. 

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