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Why Choose Max Life Insurance?

Max Life Insurance is about to complete 20 years in Life Insurance space

#Life-Insurance
2:12 min read

Life insurance is a contract between the policyholder and the insurance company, according to which the company provides the policy holder’s nominees a pre-determined sum, for a regular premium.

It is the safety net, that a person sets up for his/her family in the event of their own untimely demise. And choosing the wrong insurer in such a situation could seriously jeopardize this plan.

Your insurer, therefore, must be able to support you when you need it the most and Max Life Insurance assures that support. They are one of the top insurance companies in India that have operations in 143 cities, offer multiple plans and are well-known for their excellent service.

Why Max Life Insurance?

There are several reasons why Max Life would be your ideal choice of insurance company, including:

1. Variety of Product Options

When you purchase a policy -be it term insurance, whole life insurance, endowment or ULIP - you need options. In insurance, one size does not fit all. Each person is different in terms of income, assets, goals, and liabilities. Hence, their requirements too vary. Max Life offers a variety of product options so that you can find the one that exactly meets your needs.

Currently, the company has 16 life insurance plans for individuals and 5 group plans. In addition, there are five and four riders for individual and group products respectively. With such a range of options at your disposal, you can definitely meet all your risk coverage needs under one roof. Moreover, their 50,470 agent advisors and 9,506 employees, assure that you will get all the inputs you need to make an informed purchase.

2. One of the Best Claim Settlement Ratio Among Private Players

Max Life’s claim assurance is one of the best among private insurance companies in India. The company has an impressive individual death claims paid percentage of 99.22% in FY'19-20 (Src: As per Annual Audited Financials FY’19-20). Such a healthy claim settlement ratio means that you are more than likely to get your claims on time and at the time when you probably need it the most.

Add-on Features of Max Life Insurance - 

Some hallmarks of Max Life insurance plans are:

1. Ease of buying – multiple channels for a quick, easy, and seamless buying experience

2. Fastest policy issuance – one of the best policy issuance TATs in the business

3. No cumbersome paperwork while buying or paying for policies

4. Dedicated claim settlement officer to ease the claim process

5. Pay as you like through net banking, credit cards, debit cards, digital wallet, etc.

Benefits of Buying Max Life Insurance

A countrywide diversified distribution model, coupled with a customer-centric business approach and strong human capital makes Max Life one of the foremost insurers in India. The advantages of buying insurance form Max Life include:

1. Financial Strength and Stability

The ability of Max Life to offer feature-rich products has demonstrated the company’s robust financial strength and stability. In FY 17, the company posted its best finances in a decade.

The gross written premium touched Rs. 10,780 crore, which was higher by 17% than the FY 16. Moreover, the net profit of the company grew by 50% and reached Rs. 660 crore, while the renewal premium grew by 12% and reached Rs. 7,114 crore. The embedded value came up to Rs. 6,590 crore, higher by 26.3%, and the solvency ratio reached 309%, for FY 17- way above the mandatory requirement of 150%.

2. Personalized Assistance

Another great thing about Max Life is that they offer a personalized assistance during claims. A dedicated claim settlement officer engages the customer within 5 working days after the submission of a claim.

3. Quality Service

At Max Life, customers are the focal point, and the company maintains very high service levels across all touchpoints. As of 31st March 2017, no customer complaint was pending for resolution. That itself speaks volumes about the quality of service extended by Max Life.

To get more insights about Max Life and to avail a life insurance policy, visit www.maxlifeinsurance.com.

ARN:-June/Bg/02

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