Headquartered at New Delhi, Max Life Insurance is the largest non-bank private-sector life insurer in the country. They are a joint venture between Axis Bank and Max Financial Services. The insurer offers a wide range of insurance plans for every need. One of their key offerings is term insurance.


Term insurance is a life insurance plan that financially protects the policyholder during the policy period. When you purchase a term insurance plan, your family will receive a death benefit should something happen to you. Though financial compensation cannot make up for such an immeasurable loss, it can help reduce the financial impact of losing a loved one.

Max Life Insurance Plans

Max Life Insurance Plans


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Max Life Online Savings Plan (UIN - 104L098V05)


Offers comprehensive death benefit along with savings options for different life and financial goals

Customisable funds at no extra cost

Offers monthly payments and earned bonuses


Max Life Smart Secure Plus Plan (UIN - 104N118V06)

Comprehensive death benefit for your loved ones in case of an unfortunate demise

Guaranteed maturity and income benefits

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Max Life Smart Wealth Plan (UIN - 104N116V08)

Offers a comprehensive death benefit as well as guaranteed income options

Choose between multiple payout variants


Key Features of Max Life Insurance Plan

Here are some of the key features of Max Life Insurance Plan:

  • Long Policy

Term insurance plans have some of the longest policy terms, offering you coverage for extended periods of time. You can stay covered under Max Life Insurance policies for a period of up to 50 years.

  • Low Entry Age

Most term insurance plans have a low age of entry. You can purchase many term insurance plans when you turn 18.

  • Regular Income

Depending on your policy plan, you may get the option to receive regular income along with lump sum death benefit payout. This can help you meet daily expenses or even make contributions towards debts.

  • Return of Premium

In case you survive the term insurance plan, you may be able to receive all the premium paid back as survival benefit.

  • Disability Benefit

You may add a disability benefit rider to your term insurance plan. This benefit will cover you against covered disability.

  • Coverage Against Critical Illnesses

Get coverage against a number of life-threatening diseases by just adding a rider to your term insurance plan.

  • High Maturity Age

Term insurance plans have one of the highest maturity ages. With Max Life Insurance plans, you can continue your coverage till the age of 85!

Benefits of Max Life Insurance

Here are the benefits of term insurance plans:

1. Basic Term Plan

Offers a comprehensive death benefit at an affordable premium.

2. Term Insurance with Monthly Income

Offers death benefit along with regular income for the insured’s family.

3. Term Insurance with Growing Monthly Income

Offers growing income for the insured’s beneficiaries along with the base death benefit.

4. Term Plan with Return of Premium

Premiums paid are returned at maturity, along with the death benefit.

5. Group Term Insurance

Life cover for your employees under one plan.

What's Covered & Not Covered in Max Life Insurance

Here the inclusions and exclusions of the Max Life Insurance:



Death benefit that protects your nominees in case of your unfortunate death

Pre-existing conditions will not be covered

Flexible death benefit payouts - lump sum, monthly, part and part monthly

Self-inflicted injuries and suicide will not be covered

Special exit value benefit - get premium paid returned at specified period during the policy period

Any illness due to a congenital defect

100% of total premium paid will be paid upon survival of the policy

Any illness caused by pandemics will not be covered

Protect yourself against 40 critical illnesses

Use of alcohol and other intoxicating substances, unless indicated by a licensed physician

Coverage against accidental death

Diseases caused by radioactive contamination

Disclaimer: These inclusions and exclusions are only indicative. Kindly refer to your policy documents to get a more accurate view of your policy.

Why Buy Max Life Insurance Policy

A term insurance policy can help ensure that your family is taken care of after you. This can offer you immense mental peace. It financially protects your family by offering them flexible payout options. This will help them meet their daily expenses and any debt repayments.

Max Life is one of India’s most trusted term insurance providers, with a claim paid ratio of 99.34%. So, purchasing a term insurance plan from Max Life will make that your family is safeguarded in your absence.

Tax Benefits of Max Life Insurance

A term insurance premium paid can offer ₹1.5 Lakhsp.a deduction from total income under section 80C of the Income Tax Act, 1961. Additionally, the lump sum benefit paid under a term plan is tax-exempted under Section 10(10D) of the Income Tax Act, 1961.

Enhance Your Protection Against Medical Emergencies with Optional Covers by Max Life Insurance

Max Life Insurance offers three distinct riders to enhance your coverage. Here they are:

1. Comprehensive Accident Benefit Rider

Offers coverage against disability or death caused by accidents.

2. Waiver of Premium Plus Rider

All future premiums will be waived off in case of dismemberment, death and detection of covered illnesses.

3. Critical Illness Benefit Rider

Period payout or lump sum payout in case the insured is diagnosed with any of the specified critical illnesses.

How to File Max Life Insurance Claims

Here are some ways to file a claim with Max Life Insurance:

  • Getting in touch with your agent advisor

  • Visiting your nearest Max Life Insurance office

  • Writing to Max Life Insurance at claims.support@maxlifeinsurance.com

  • Sending a mail to this address:

Max Life Insurance Operations Centre Claims Department,


Max Life Insurance Company


Operations center, - 2nd floor


90C, Sector 18, Udyog Vihar,


Gurgaon-122015, India

What is the Max Life Insurance Claim Settlement Ratio?

Here’s the claim settlement ratio of Max Life Health Insurance:


Claim Settlement Ratio

Premium Price

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Max Life Insurance



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Documents Required for Filing Max Life Insurance Claim

Here are some documents you will need to file a term insurance claim:


  • Original policy documents

  • Death claim application form (Form A)

  • A copy of the death certificate issued by local municipal authority

  • NEFT mandate form attested by bank authorities

  • Nominee's identity proof

  • Cancelled cheque or bank account passbook

Additional documents that may be required depending on the cause of death:


  • Natural/Medical death:

1. Attending physician's statement (Form 'C')


2. Medical records

  • Accidental/Unnatural death:

1. Copy of the First Information Report (FIR

2. Copy of Post Mortem report (PMR)


3. Copy of the Final Police Investigation report (FPIR)

Max Life Insurance Plans Available at Bajaj Markets

Max Life Online Savings Plan (UIN - 104L098V05)


Disclaimer:-Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Corporate Office: 11th Floor r, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana)- 122002. For more details on risk factors, terms and conditions, please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Insurance is the Subject matter of solicitation. Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd. respectively and with their consents, are used by Max Life Insurance Co. Ltd. You can call us on our Customer Helpline No. 1860 120 5577.


The online journey is being enabled through the Insurance Self Network platform (ISNP) of the Company (Max Life Insurance Company Limited) where Bajaj Finserv Direct Ltd is a market participant as the corporate Agent (CA0551) to the insure.



For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.

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