Learn about Max life Insurance (Plans, Claims & More)

Max Life Insurance was formed in the year 2000. It is a joint venture between Max financial services Ltd ( MFS), India’s largest non-banking private life insurance company, and Mitsui Sumitomo insurance company based in Japan. The company began its operations in 2001 since it has established a prominent name in the insurance sector.

Max Life Insurance is one of the leading names in India when it comes to life insurance and its services. The company offers a wide range of insurance plans ranging from term insurance, child plans, pensions, endowment, savings plans, and much more.

This insurer has a PAN India presence with more than 250+ branches across the nation and more than 15,000+ associated employees. Max Life serves millions of customers all around the year and has a robust claim settlement ratio of 99.35%.

The company has been awarded numerous awards such as ‘Life Insurance Provider of the Year’ and ‘Excellence in Claims Service’ to name a few.

In this article, we will discuss the following:

Company specifications
Awards received
Plans offered by Max Life Insurance
Why choose Max Life Insurance?
How to buy Max Life Insurance Plans?
Max Life Insurance claim process
Max Life Insurance plan renewal process

Important company details

Claim settlement ratio	99.35%
Headquarters	New Delhi
Solvency Ratio	207%
Branches	250+
Website	www.maxlifeinsurance.com
Customer care	Toll free number: 1800 200 5577, 1860 120 5577

Awards received

Below given are a few awards and recognitions won by Max Life Insurance.

‘Best Claims Service Leader award’ by CMO Asia Awards 2019.
Ranked 24th among ‘India’s top 100 companies to work in’ by great places to work institute.
Awarded ‘Best Term Plan company of the year’ by CMO Asia 2019.
‘Life Insurance Provider of the year’.

Max Life Insurance plans

Max Life Insurance term plans

Plan name	About the plan
Max Life Smart Term Plan	It is a customizable term plan that offers a death benefit, protection from 40 critical illnesses, and a return of premium option. This is a long-term plan that provides coverage up to 85 years of age and returns 100% of the premiums paid upon surviving the maturity period.
Max Life Online Term Plan	This term insurance plan offers high life cover at an affordable premium. It offers a lump sum payout under death benefit to the beneficiary of the policy in case of the death of the policyholder. This plan is available in 3 variants: Basic Life Cover, Basic Life Cover + Monthly Income, and Basic Life Cover+ Increasing Monthly Plan.
Max Life Premium Return Plan	As the name suggests, this plan offers life coverage to the policyholder and the benefit of 100% of premium repayment on the maturity of the policy tenure.
Max Life Super Term Plan	This is a regular term insurance plan that only provides a life cover to the policyholder. It offers multiple payout option choices.
Max Life Smart Secure Plus Plan	This is an ideal plan to beat the rising cost of inflation as it offers a death benefit, and also increases the sum assured up to 5% annually up to a maximum of 200%.
Max Life Saral Jeevan Bima Plan	This term plan offers a life cover as low as Rs 5 Lakh to protect your family in your absence. This plan provides long-term coverage up to 70 years of age.
Max Life Short Term Plan	This plan offers a guaranteed payout on the maturity of the policy period or a lump sum death benefit in case of death of the policyholder, one of the two.

Max Life Insurance ULIP plans

Plan name	About the plan
Max Life Fast Track Super Plan	This plan offers the benefit of life coverage and the extra benefit of capital appreciation through the market invested returns.
Max Life Online Savings Plan	This plan offers a life cover and a wide range of market funds to invest in as per the investment style of the policyholder. This plan is available in 2 kinds of variants.
Max Life Shiksha Plus Super Plan	This is a child unit-linked insurance plan that is designed to secure your child’s future by generating a sound corpus through market-linked investments and also providing the benefit of life coverage.
Max Life Forever Young Plan	This unit-linked plan is intended to generate strong savings for your retirements through market returns and also providing the benefit of a life cover.

Max Life Insurance Savings and Income plan

Plan name	About the plan
Max Life Savings Advantage Plan	This plan offers a life insurance cover to the insured and partly guaranteed payment of the lump sum amount on policy maturity.
Max Life Monthly Income Advantage Plan	As the name suggests, this plan offers an assured monthly income payment up to 30 years after the completion of the premium payment tenure or provides a death benefit payout in case of the death of the insured.
Max Life Guaranteed Income Plan	This is a guara