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If you are looking to purchase a life plan from Max Life Insurance, and are worried about the safety of the company, this article is for you. Here, we will highlight the top 4 aspects of Max Life Insurance that will give you a good idea about the safety of the company. Let’s begin.
This is one of the most important points to consider when you purchase a life/term plan. The claim settlement ratio of a company highlights the ratio of insurance claims serviced compared to the total claims made.
In simple words, if an insurance company gets 100 claims in a year, and passes 95 of those 100 claims, the claim settlement ratio of that insurance company is said to be 95%.
Max Life insurance has a claim settlement ratio of 99.34% as of 2022. This is the highest claim settlement of any life insurance company in India.
The higher the claim settlement ratio, the higher is the chance of your insurance claim getting serviced. Be cognizant of the claim settlement ratio of any insurance company before taking a policy.
It is important for a policyholder to understand where an insurance company has come from. They must learn about the history, ethics, and ethos of a company before purchasing a policy. Let us highlight some of the aspects of Max Life’s history:
A company has to be fundamentally sound and strong to meet its commitments towards its customers. Let us look at some of the most important fundamental aspects of Max Life:
What good is an insurance company if it isn’t accessible to its policyholders? An insurance company should be widely accessible in case a policyholder wants to lodge a complaint or grievance, or even want customer support. This is one of the most important aspects that you should consider before buying a plan from a company. Let us look at the accessibility of Max Life.