Max Life Insurance Benefits

The unique features of Max Life Insurance are as follows:

• Death Claim Paid or Claim Settlement Ratio (CSR): Max Life’s Death Claim Paid Ratio or CSR stands at an outstanding 99.65% which is way above industry standards and one of the best in the industry. This means that nearly all the claims made by policyholders’ nominees are settled by Max Life Insurance Company Limited.

• Premium Holiday Option: The Max Term Plan offers a Premium Holiday Feature that allows the policyholders to skip their policy premium payment twice in a policy year. The catch, you can only put this benefit to use again after a gap of at least 10 years. This option provides the policyholders with flexibility in managing their financial commitments without losing on their policy benefits.

• Voluntary Top Up: Max Life Insurance offers a voluntary top up feature where the policyholders can enhance or upgrade their existing term insurance coverage or policy features once during the policy term. This feature helps in safeguarding yourself and your family even better in case you feel like you need to secure more funds for their future. It is important to note that Max Life can ask the policyholders to undergo complete new health/ medical check ups and underwriting for the same which will be covered by the insurer. The policyholder will also get a discount on this enhancement compared to the then existing market rates.

• Strong Company Financial Stability: With a solvency ratio of 172%, Max Life has a sound financial positioning and the ability to meet its obligations towards their policyholders.
• Zero Cost Exit: Max Life’s feature of Zero Cost Exit helps the policyholders to exit or terminate their policy without paying any additional charges depending on the policy term or tenure they have selected. This makes the lives of the policyholders easy and stress free.

Mentioned below are some of the major benefits of choosing Max Life Insurance Company as your preferred life insurance partner:

• Comprehensive Death Benefit Variants: There are seven death benefits offered under Max Life Smart Term Plan. These plans are also customisable and include life cover, income protector, inflation + income protector, and more.

• Multiple Premium Payment Options: There are several payment options that you can choose from while planning to pay your Max Life Insurance’s premium. You can choose to make a one time payment for a limited term or for the entire policy term, you can also choose to make yearly, half yearly, quarterly or monthly payments.

• Long Coverage Duration: With Max Life’s Smart Term Plan you have the option to choose a long term protection coverage as it covers you and protects you up to the age of 85.

• Accelerated Pay Out For Critical Illness: Max Life offers Accelerated Critical Illness Benefits on taking this rider if the policyholder is diagnosed with any of the 40 specified critical illnesses.

• Premium Back Variant: If you choose Max Life Insurance and take the premium back variant, you will receive a refund for all your policy premiums paid (including any charges for underwriting premiums) when you survive the policy term. It is important to note that this variant must be selected at the time of purchasing your policy and cannot be added later on.

Ques 1. What is the claim settlement ratio of Max Life Insurance?

Ans. The claim settlement ratio or CSR of Max Life Insurance is 99.65%.

Ques 2. What are the benefits of taking Max Life Insurance?

Ans. The top benefits of choosing Max Life Insurance are comprehensive death benefit variants, multiple premium payment options, long coverage duration, accelerated pay out for critical illness and premium back variant.

Ques 3. What are some of the unique features of Max Life Insurance?

Ans. When you choose to buy Max Life Insurance’s Term Plan you are choosing a company which has a claim settlement ratio (CSR) or death claim paid ratio of 99.65%. You are also choosing a company which offers you a premium holiday option through which you can opt to not pay your policy premium twice in a policy term if you have other financial commitments to meet, Max Life offers a zero cost exit to policyholders who want to close their policy, and it also offers a voluntary top up.

Ques 4. Where is the headquarters of Max Life Insurance?

Ans. The head office of Max Life Insurance is located in Gurugram, Haryana, India.

Ques 5. What is the solvency ratio of Max Life Insurance?

Ans. The current solvency ratio of Max Life is 172%. This ratio shows how capable a company is to meet its debt obligations.

Ques 6. What are the documents required to buy a Max Life Insurance Plan?

Ans. You require your identity proof, address proof, income proof, medical records and additional information if asked by the insurer like photographs, current or past other policy details etc to purchase a Max Life Insurance Plan.

Ques 7. Can a lapsed Max Life Insurance Policy be revived?

Ans. Yes, Max Life Insurance has a way of reviving your lapsed policy. You can revive the policy as per the underwriting policy within the revival period as listed here - if policy lapse time is between 0 to 60 days, there are no late fees. If policy has lapsed between 61 to 180 days, the late fee is as as per the RBI bank rates + 1% PA compounded annually on the due premium, if the policy lapse days are more than 180 days then the late fee is as per the RBI bank rates + 3% PA compounded annually on the due premium.

Ques 8. How to check Max Life Insurance policy status offline?

Ans. In order to check the policy status offline or receive your policy document in the form of PDF, you can call us at +91-7551196989. You can also choose to email us at support@insurancedekho.com and one of our insurance representatives will help you out.

Ques 9. How to contact Max Life Insurance’s NRI customer service team?

Ans. For NRI customer support, call on +91 11 71025900 or +91 11 61329950 (available 24X7 Monday to Sunday) or email at nri.helpdesk@maxlifeinsurance.com.

Ques 10. Whom to reach out to for Grievance Redressal at InsuranceDekho?

Ans. For any grievance redressal you can reach out to Mr. Rohit Khurana, our Grievance Redressal Officer at grievance@insurancedekho.com.