Max Life Insurance Company Limited

Max Life Insurance is one of India’s top life insurance companies, offering a plethora of products including life insurance, term insurance, and investment plans. Previously known as Max New York Life Insurance Company Limited, Max Life Insurance is a joint venture between Max Financial Services Ltd. – part of the Max Group and Mitsui Sumitomo Insurance Co. Ltd. – part of MS&AD Insurance group touted amongst the leading insurance providers in the world.

Established in 2000, Max Life Insurance aims at creating easy life insurance solutions that are affordable and fit every stage of the policy seeker’s life. The company also simultaneously works at making the claim process easier and simpler for every insured person to offer a hassle-free experience.

Why opt for Max Life Insurance?

  • Empathy: Customers are more important than the number for Max Life Insurance as it follows a customer-centric approach to offer all kinds of insurance needs and solutions to the policy seekers.
  • Transparency: Max Life Insurance boast of claim settlement ratio of 99.22% which itself is proof of its credibility. The policy seekers can check each and every detail about the company online and be sure about the reliability factory of the insurer.
  • Accountability: Max Life Insurance values customers’ trust more than anything. They make sure to provide 24X7 seamless customer care service to the insurance buyers. The company provides a hassle-free claim settlement process and takes accountabilities for all its products and policies.

Important Facts about Max Life Insurance

Claims Paid Percentage 99.22% (as reported to IRDAI FY19-20)
Max Life Presence 277 Offices (as reported to IRDAI, FY 20-21)
Sum Assured Rs 1,087,987 crore (Max Life Public disclosure, FY 20-21)
Assets Under Management Rs. 90,407 Cr (Max Life Public disclosure, FY 20-21)
13th Month Persistency 84% (Max Life Public disclosure, FY 20-21)
Solvency Ratio 202% (Max Life Public disclosure, FY 20-21)
Conservation ratio 87% (Max Life Public disclosure, FY 20-21)

Benefits of choosing Max Life Insurance 

Let’s look into several other benefits that Max Life Insurance offers:

  • The insurer offers a wide range of life insurance policies catering to the requirements of all policy seekers.
  • The life insurance policies are eligible for tax benefits for the premiums paid u/s 80C and 10(10 D) of the Income Tax Act.
  • The company offers a hassle-free online policy buying process and claim settlement process.
  • The plans offered by the insurer are carefully designed to provide comprehensive financial security to policyholders against eventualities.
  • The policy seeker can opt for high policy coverage at affordable premiums.

Types of Life Insurance Plans offered by Max Life Insurance

Every policy buyer must be aware of different types of life insurance policies to make the right buying decision.

  1. Term Insurance: It is the most affordable and simplest form of life insurance that offers high insurance coverage at considerably low premiums. The insurer promises to pay the sum assured to the policy nominee upon the untimely demise of the policyholder.
  2. Unit Linked Insurance Plan (ULIP): This kind of life insurance offers double benefits of life cover as well as market-linked returns. Under ULIP, a part of your premium is paid towards life cover and the other portion is invested in various funds options.
  3. Endowment Plans: These plans are a combination of savings and life insurance. Endowment plans offer benefits of life cover as well as savings benefits. In case the insured outlives the policy term they will receive maturity benefit along with periodic bonuses (if any).
  4. Child Plans: Child plans helps in creating wealth to support your child’s future such as higher education. It is another form of ULIP which gives you the flexibility to invest in different funds depending on your long-term goals and financial condition.
  5. Retirement Plans: As the name suggests, retirement plans help in creating wealth for your retirement phase, such that you can enjoy financial independence. In case of your demise, the policy nominee will receive the sum assured amount, else you will receive the benefit amount on surviving the policy term.

Document required to buy a life insurance policy 

To purchase a Max Life Insurance policy, you need to have the following official documents

  • Voter ID
  • Passport
  • Aadhar Card
  • PAN Card/Form 60

If these documents do not have updated address, then you need the below-mentioned documents:

  • Property tax receipt
  • Utility bills
  • Family Pension Payment Orders issued to the retired individuals
  • Letter of accommodation allotment from the employers such as PSUs and other statutory bodies


For more information on Max Life Insurance and its products, you can visit and opt for the right policy for yourself.