Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Ltd and Axis Bank Ltd. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation. Axis bank is an Indian banking and financial services company headquartered in Mumbai.
List of Topic Covered
Max Life Insurance Company Overview
- Started operations in the year 2001, Max Life Insurance is one of the best life insurers in India.
- It has a claim settlement ratio of 99.35% for the financial year 2020-21.
- Max Life offers a comprehensive insurance solution to their customers. They have products like term, investment, health and retirement solutions.
- Max Life Insurance has over 275 branches across India.
CEO and Contact Details of Max Life
| Managing Director and CEO | Mr. Prashant Tripathy |
| Corporate Office Address | Max Life Insurance Company Ltd 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram, Haryana 122002 |
| Contact No. | Online Sales Helpline: 0124 648 8900 Customer Service Helpline: 1860 120 5577 NRI Helpdesk: 011-71025900; 011-61329950 |
| Email ID | Online Sales Helpline: service.helpdesk@maxlifeinsurance.com NRI Helpdesk : nri.helpdesk@maxlifeinsurance.com |
| Employee count | 10,000+ |
| Assets Under Management (AUM) | ₹ 1,00,000 Crore (As on FY 2020-21) |
| Max Life Website | https://www.maxlifeinsurance.com/ |
| Max Life Twitter | https://twitter.com/MaxLifeIns |
| Max Life Facebook | https://www.facebook.com/maxlife/ |
| Max Life Linkedin | https://www.linkedin.com/company/max-life-insurance-company-limited/ |
Max Life Term Insurance Plans
Term insurance is the simplest and purest form of life insurance which ensures financial security for your family against fixed premium and for a fixed duration. The premium of a term plan depends on many factors such as age, gender, ppt, policy term, sum assured, etc
Max Life offers different term plans based on different needs of the customers.
Lets, check the list of term insurance plans from Max Life. Click on the plans to get the detailed review of it.
| Product Name | UIN No |
| Max Life Smart Secure Plus | |
| Max Life Saral Jeevan Bima |
Claims process of Max Life
Claim process is a procedure through which claim is authenticated and claim amount is disbursed to the policyholder or nominee or beneficiary or appointee or assignee. Max Life has a very quick and simple claim process.
Click here to get the Max Life claim process in detail
Max Life Claim Settlement Ratio
Claim settlement ratio is the percentage of claims settled out of the total number of claims filed in a financial year. Higher the percentage, better is the insurer. IRDAI (Insurance regulatory and development authority of India) issues an annual report on claim settlement ratio of life insurance companies every year.
For example : Let’s suppose Max Life has received 100 claims in a financial year and it settles 85 in the same financial year. So the claim ratio of Max Life will be (85/100) x 100 = 85% for the same financial year.
Claim settlement ratio of last 5 years of Max Life
| Year | Claim Ratio |
| 2021-22 | 99.34% |
| 2020-21 | 99.35% |
| 2019-20 | 99.22% |
| 2018-19 | 98.74% |
| 2017-18 | 98.26% |
| 2016-17 | 97.81% |
Max Life Insurance Claim Settlement Ratio From 2006 to 2022 >
Market share of Max Life
It is the percentage of new business (first year + single) premium received out of the total new business premium received by all life insurance companies.
Market share of last 5 years of Max Life
| Year | Market Share |
| 2020-21 | 2.44 % |
| 2019-20 | 2.15 % |
| 2018-19 | 2.40 % |
| 2017-18 | 2.24 % |
| 2016-17 | 2.10 % |
Bonus Rates of Max Life Plans
Every year Max Life declares bonuses to their premier products which participate in profits.
Click here to Get Bonus Rates of All Max Life Policies
Max Life Branch Locator
We have made a list of Max Life branches in top 10 cities i.e Mumbai, New Delhi, Bengaluru, Chennai, Gurgaon, Pune, Hyderabad, Ahmedabad, Kolkata and Lucknow. You will find addresses with contact details of every branch mentioned in the above cities. Click below to get the details.
Check Max Life Branch Near Me
Max Life Insurance FAQs
If you miss your premium payment due to any reason, you will get a grace period of 15 days for monthly premium payment and 30 days for half-yearly and yearly premium payment. If you still don’t pay your premium after the grace period, your policy gets lapsed and you cannot claim any benefits.
Mr. Prashant Tripathy is the MD and CEO of Max Life.
Max Life was founded in 2000 and they started their operations in 2001 .
Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Ltd and Axis Bank Ltd.
Max Life Insurance Company Ltd, 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram, Haryana 122002
Max Life Smart Secure Plus, Max Life Saral Jeevan Bima are the plans with Max Life Insurance.
Max Life requires 30 to 120 days to settle a death claim.
Max Life has over 275 branches across India.
| List of All Life Insurance Companies in India | Click Here |
| Home | Click Here |
This covers all the topics on Max Life Insurance. Please comment if you need any further information on this.