One of the most popular company in India when it comes to life insurance is Max Life. I’m sure that you have heard of this company before. Just to get to know this company a little, Max Life is a joint venture between Indian multi-business corporate which is Max India LTD, with the general insurers Mitsui Sumitomo Insurance Co., LTD. Since it began, Max Life became one of the leading insurance companies in India and is currently the largest life insurer among privately held non-banking companies in the country. Here are some things that you should take note of:
Key highlights of Max Life Insurance:
- 1 Crore Life Cover
- Claim Settlement Ration of 96.03% for the year 2014-2015
- Grievances Resolved of 99.98% for the year 2014-2015
Are you eligible to get a life insurance from Max Life?
- You should be above the age of 18.
- You should be less than 60 years old.
- You should have a salary, working, a professional, or have a business of your own. The important thing here is that you will be able to pay for the premium in exchange for the life insurance from Max Life.
Max Life at a Glance:
- You will receive a maximum tenure of 35 years
- Min Sum Assured is Rs 25 Lakhs
Max Sum Assured: No limit subject to underwriting
- There is a specific exclusion of suicide within the first 12 months
You will also be able to add more insurance coverage from Max Life like the following:
- Max Life Comprehensive Accident Benefit Rider. With this one you will be able to provide an additional protection for you and your family against an unfortunate accident.
- Monthly Income Term Plan. You will receive twin benefits of Sum Assured on death as well as a level income every month for ten years.
- You will also be enjoying an increasing monthly income term plan.
If you want to apply, you need to be able to present the following to the company so that they will grant you a life insurance coverage.
- Identity proof
- Age Proof
- Income Proof
- Address Proof
- PAN Number
Of course, Max Life believes that each person is different and may want a special coverage fitted only to him or her. No two situation is the same so what another person needs may not be what someone else wants in their life insurance plan. That’s why Max Life Insurance created different types of insurance plans to cater to the need of every customer that they have. Let’s take a look at what they are offering.
- Max Life Protection Plans. With this, you will be given a high Sum Assured in case of the insured unfortunate demise. This speaks for those who are beneficiaries of the insured. You will be charged a low premium – affordable but of high quality. There will be no maturity benefits to be paid out at the end of the policy term.- Max Life Super Term Plan
– Max Life Platinum Protect II
– Max Life Premium Return Protection Plan
- Max Life Savings Plans. The funds or money that you invest in these plans are invested in debt instruments that will be able to provide a standardized profit to the insured (you).- Max Life Guaranteed Income Plan
– Max Life Whole Life Super
– Max Life Life Gain Premier
– Max Life Future Secure II
- Max Life Growth/ULIP Plans. These are the necessary market linked plans where the performance of your investment will be decided by the financial instrument that you have invested them in. You will be receiving a high return compared to when you just signed up for the traditional plan. I’m talking about number one.- Max Life Fast Track Super Plan
– Max Life maxi Super
– Max Life Platinum Wealth Plan
- Max Life Group Plans. This is great for employers who wants to give an insurance to their employees. As an employer, you are probably responsible for a lot of people who work under you, so you will be able to enroll a large number of people for a policy. The benefits will be paid out according to respective policy terms.- Max Life Group Gratuity Premier Plan
– Max Life Group Super Life Premier Plans in lieu of EDLI
– Max Life Group Super Life Premier
– Max Life Group Credit Life Secure
- Max Life Child Plans. For the parents who want a secure future for their children.- Max Life Shiksha Plus Super
- Max Life Retirement Plans. You will be offered pension plans which will give you a steady income once you have retired. You won’t have to give up the lifestyle that you have been living, and you will still be independent.- Max Life Forever Young Pension Plan
– Max Life Guaranteed Lifetime Income Plan
– Max Life Life Perfect Partner Income Plans
- Max Life Online Terms Plans. You will have the option to purchase it through online. This will be under traditional policies but also under linked plans.- Basic Life Cover
– Life Cover Monthly Income
– Life Cover Increasing Monthly Income
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