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Axis Max Life Insurance is one of India’s leading life insurance companies. It is known for providing a comprehensive range of life insurance plans such as protection, savings, child and pension. These plans are designed to fit the needs of Indian customers and ensure lifetime protection for you and your loved ones. With a CSR of 99.65% in the financial year 2023-24, the company has settled most of the claims received, indicating a good track record of claim settlement.
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Axis Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi-business corporation. Axis Max Life offers plans like protection and long-term savings life insurance solutions through its multichannel distribution, including agency and third-party distribution partners, to more than 30 lakh customers.
| Solvency Ratio (2022-23) | 1.90 |
| Branches | 304 Offices |
| Assets Under Management (2023-24) | Rs. 1,50,836 Crore |
| Claim Settlement Ratio (2023-24) | 99.65% |
**Data for the FY 2022-23
Axis Max Life Insurance offers a range of key features across its various plans, including term insurance and investment plans. Take a look:
| Term Insurance | Investment Plan | |
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The company offers many benefits to insurance holders. Let’s take a look at it:
Financial Protection: Axis Max Life Insurance policies help the life assured by providing financial security to their family and safeguarding them against any eventualities.
Higher Coverage: The insurance buyers can opt for a high coverage plan at an affordable premium rate.
Variety of Plans: The company offers a wide range of comprehensive policies to cater to the requirements of insurance buyers.
Tax Benefits: In addition to insurance coverage, the policies provide tax exemption under Sections 80C and 10(10D) of the Income Tax Act.
Easy Purchase: An individual can purchase a policy online from the insurer's official website easily and hassle-free.
| Claim Settlement Ratio (2018-19) | Claim Settlement Ratio (2019-20) | Claim Settlement Ratio (2020-21) | Claim Settlement Ratio (2022-23) | Claim Settlement Ratio (2023-24) |
| 98.74% | 99.22% | 99.35% | 99.51% | 99.65% |
* Sourced from Axis Max Life Insurance Company’s official website
Axis Max Life has built its operations over almost two decades through need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital.
Here is why you should choose Axis Max Life Insurance.
Empathy: The company chooses its customers over numbers. With a customer-centric approach, it offers a one-stop solution for buyers' insurance needs.
Transparency: With a claim settlement ratio of 99.65%, the company offers transparency to the insurance buyers. Insurance buyers can check every detail related to different policies online. With a solvency ratio of 190% (Source Public Disclosure FY 2022-23), Axis Max Life policies offer reliability to the customers.
Accountability: The company values the trust of the insurance buyers and thus provides excellent customer support service 24/7 to the insurance buyers. The company takes accountability for the policies and provides a hassle-free claim settlement process in case the policy nominee files the claim.
Protect family and loved ones
No one can predict the future, but one thing is inevitable: death. Therefore, Max Life Term Insurance Plans are recommended to ensure that you cover your family against all financial obligations once you are no longer alive. They are affordable and provide death benefits to the nominees after their death so they can maintain their living standards.
Protect against loans and debts
If you have any existing loans and debts, the Axis Max Life Term Insurance Plan can help your loved ones pay those debts with the claim amount without worrying about financial constraints.
Tax Benefits
You also get tax benefits on buying term insurance plans under Sections 80C and 10(10D) of ITA.
Below mentioned is the Axis Max Life Insurance policy list. Take a look and choose the one as per your needs and requirements:
These comprehensive life insurance plans offer you and your family much-needed financial protection. Following are the best term insurance plans
| Plan Name | Entry Age (Min – Max) | Maturity Age | Policy Term | Sum Assured (Min – Max) |
| Axis Max Life Online Term Plan Basic Cover | 18 - 60 years | 85 years | 10-50 years | Rs.25 lakh - Rs.100 crore |
| Axis Max Life Online Term Plan Life Cover + Monthly Income | 18 - 60 years | 85 years | 10-50 years | Rs.25 lakh - Rs.100 crore |
| Axis Max Life Online Term Plan Life Cover + Increasing Monthly Income | 18 - 70 years | 70 years | 10-50 years | Rs.25 lakh - Rs.100 crore |
| Axis Max Life Super Term Plan | 18 - 65 years | 75 years | 10-35 years | Rs.25 lakh - No Upper Limit |
| Axis Max Life Platinum Protect II | 18 - 60 years | 75 years | 10, 15, 20, 25, and 30 years | Rs.25 lakh - No Upper Limit |
| Axis Max Life Premium Return Protection Plan | 21 - 55 years | 75 years | 20, 25, and 30 years | Rs.5 lakh - Rs. 1 crore |
These are insurance cum investment plans that help to fulfill the goal of wealth generation. The plans offer much-needed flexibility to manage the investment.
| Plan Name | Entry Age (Min-Max) | Maturity Age | Policy Term |
| Axis Max Life Fast Track Super plan | 18 years - 60 years(5 Pay and Single Pay), 50 years( For Regular Pay) | 70 years | 5 pay- 10 years Single pay- 10 years Regular pay- 20 years |
| Axis Max Life Platinum Wealth Plan | Single pay/ Limited pay/Regular pay- 18 years - Single pay/ Limited pay- 60 years & for Regular pay- 55 years | Single pay/ Limited pay- 70 years Regular pay- 65 years | 10 years and 20 years |
| Axis Max Life Online Savings Plan - Variant 1 | 18-60 years | 85 years | Minimum 5 years and maximum 52 years for maturity age less or equal to 70 years; minimum 10 years and maximum 67 years for maturity age greater than 70 years |
| Axis Max Life Online Savings Plan - Variant 2 | 18-54 years | 64 years | Minimum 5 years and maximum 30 years |
| Axis Max Life Shiksha Plus Super | 21-50 years | 65 years | 10 years for 5 years and 15-25 years for regular pay |
Pension plans help the policyholder to save for his/her old age. With the help of these plans, the policyholder can enjoy the golden period of his/her life
| Plan Name | Minimum Entry Age | Maximum Entry Age | Maximum Single Premium | Annuity Payment Modes |
| Guaranteed Lifetime Income Plan | 0 years for immediate annuity; 45 years for deferred annuity | 80 years | Rs. 12,000/annum - No Limit | Monthly, Quarterly, Half-yearly, Yearly |
| Saral Pension Plan | 40 years | 80 years | Rs. 12,000/annum - No Limit | Monthly, Quarterly, Half-yearly, Yearly |
Child plans help the policyholder to accumulate and plan his/her finances in such a way that helps him/her to fulfil his/her child’s dreams and aspiration.
| Plan Name | Entry Age (Min–Max) | Maturity Age | Policy Term | Sum Assured (Min–Max) |
| Axis Max life Future Genius Education Plan | 21 – 45 years | 66 years | 18 years | Rs.3,27,000 (8 pay variant), Rs.2,12,000 (For Limited Pay)-No upper Limit |
| Axis Max Life Shiksha Plus Super Plan | 21 – 50 years | For 5 pay- 60 years For regular pay- 65 years | 10,15 and 20 years | 10 times the annualized premium |
These plans help the insured to save systematically and achieve his/her life goals by providing a comprehensive coverage.
| Plan Name | Entry Age (Min–Max) | Maturity Age | Policy Term | Sum Assured (Min–Max) |
| Axis Max Life Savings Advantage Plan | 8-65 years | 75 years | Up to 30 years | Rs. 78, 738 in single pay - No upper limit |
| Axis Max Life Whole Life Super | 18 – 50 years | - | Up to 100 years of Life Insured | Rs. 50,000 - No upper limit |
| Axis Max Life Monthly Income Advantage Plan | 18 – 50 & 55 years | 75 years, and 77 years | 22 years and 25 years | Rs.3,24,000 (For 12 pay variant), Rs.4,05,000 (For 15 pay variant) - No upper limit |
| Axis Max Life Assured Wealth Plan | 8 – 55 years | 65 years | 10 years | Rs.1,97,460 - No upper limit |
The Axis Max life insurance plan for senior citizens is designed to provide them with financial coverage against any eventuality. These plans offer the flexibility to choose the coverage and tenure of policy and can be availed easily online. Keeping the requirements of the senior citizen in mind, the company offers different retirement plans to secure the individual's financial future after retirement. The policy buyers can compare these plans online and choose the most beneficial plan as per their requirements and suitability. Let’s take a look at the various retirement plans for Senior Citizens.
| Plan Name | Entry Age | Policy Term | Vesting Age | Premium Payment Term |
| Axis Max Life Forever Young Pension Plan | 30 years/ 65 years | 20 years | 55 years/75 years | 20 years |
| Axis Max Life Guaranteed Lifetime Income Plan | 45 years/80 years | N/A | 46 years/90 years | N/A |
| Axis Max Life Perfect Partner Super | 91 days/55 years, 50 years, 45 years | 75 years- age at entry of the life insured | N/A | 7, 10,15 or 20 years |
Add-on rider benefits are used to enhance policy coverage. The policyholder can purchase the riders by paying extra premium along with the basic premium of the policy. Let’s take a look at the rider benefits.
Under this rider option, an extra sum assured is paid to the policyholder's beneficiary in case of accidental demise or dismemberment.
Under this rider option, all the future premium of the policy is waived off in case of critical illness, death or dismemberment of the insured person. If the insured person and policyholder is the same then the waiver of future premium is provided to the nominee in case of diagnosis of specific critical illness or dismemberment. In case the insured person and policyholder are different then the waiver of future premium is provided to the nominee in case of diagnosis of specific critical illness, dismemberment, or death of the policyholder.
The partner care rider can be added to the life insurance plan to provide extra protection to the dependents if the insured person dies. Under this rider option, the insurance company pays all the future premiums of the policy to the nominee in the event of the insured's death during the plan's tenure.
Policyholders can choose this rider for extra coverage in the event of a critical illness that he/she may be diagnosed with. The rider can be active for up to 20 years. If your base plan is 20 years or shorter, the rider will also be for 20 years. However, if your base plan extends beyond 20 years, the rider will align with its duration. This provides you with flexibility to suit your requirements.
This rider provides a lump sum to the policyholder if he/she faces an unfortunate accident and is, therefore, totally and permanently disabled. The ATPD rider sum assured is usually an additional benefit amount paid to the life assured while the base term plan continues as normal.
By following the steps below, you can easily renew the Axis Max Life Insurance policy and continue enjoying your policy's benefits.
Step 1: Visit Life Insurance Renewal
Step 2: Select Axis Max Life Insurance from the list of insurers mentioned
Step 3: Enter details, like Policy Number and DOB and press on ‘Continue’
Step 4: Enter the rest of the required details and provide necessary document if necessary
Step 5: Pay the premium to renew your policy using modes like net banking, credit card, debit card, or other electronic payment methods
*Note: You can call Axis Max Life Insurance customer care if you need further assistance or have any doubts/queries. You can also use the Axis Max Life Insurance login portal for your policy details.
Making your Axis Max Life Insurance premium payment online is a simple and convenient process. Here’s how you can do it:
Visit the Axis Max Life Insurance Website
Click on the “Customer Login” button.
Enter your credentials (User ID and Password) to access your account. This is your max life insurance login premium payment portal.
Look for the “Payments” section or select “Pay Premium.”
You can choose max life insurance premium payment online from this section.
Enter Your Policy Details, such as your policy number and other necessary information to proceed.
Choose your preferred payment method (credit/debit card, net banking, etc.) for max life insurance online payment premium.
Once the payment is processed, you will receive a confirmation via email or SMS.
The process remains the same for those with max life term insurance premium payment; just ensure you have your policy details handy.
If you encounter any issues, you can always contact customer support for assistance.
Several factors influence the cost of life insurance premiums, including:
Age: Older individuals typically pay higher premiums due to increased risk.
Health: Pre-existing conditions or risky activities may raise premiums.
Term Length: Longer terms often mean higher premiums.
Smoking: Smokers generally pay more due to higher mortality rates.
Occupation: High-risk jobs can lead to higher premiums.
Lifestyle: Factors like diet, exercise, and alcohol can impact premiums.
Family Medical History: A history of early deaths in the family may affect premiums.
Axis Max Life Insurance provides a convenient and hassle-free claim intimation and settlement procedure. The insurance company process claims by ensuring that the amount of claim is received by the family members easily and quickly. A dedicated and committed claims officer is assigned for every Max Life death claim to guide applicants through every phase of the claim procedure. The company has a claim settlement ratio of 99.65% as per IRDAI Annual Report 2023-24.
Axis Max Life Insurance has three quick and hassle-free claim settlement procedures. The procedure is as follows:
The nominee should intimate the insurance company about the claim in written form. Enter the information about your claim on the official website of Axis Max Life Insurance. Fill in the required information like policy number, claim information, details of a claimant, policyholder details, and contact information of the claimant. The nominee or beneficiary can get the claim intimation form by visiting the nearby branch of the Axis Max Life Insurance or you can also download it from the insurer’s official website.
After submitting all the required information, it is important to upload all the documents with the provided details. The nominee is required to provide a few documents to the insurer such as the death certificate, age of the policyholder, policy documents, and any other documents requested by the insurer.
According to IRDAI, the insurer is required to settle the Axis Max Life Insurance Claim within 30 days of receiving the submitted documents. However, in some scenarios, the insurer needs further investigation. In these situations, the insurer has to finish the entire process within six months from the date of getting the written intimation notice.
In case of a death claim, the client is required to submit the following documents:
Attested or original copy of Death certificate that is issued by the local municipal
NEFT Mandate application attested by the bank personnel
Canceled cheque or passbook of bank account
Death claim form i.e., Form-A
Photo ID Card of Beneficiary such as passport, Voter ID, PAN card, Aadhar card
These additional documents are required to submit as per the death cause:
Natural/Medical Death
Statement of Attending Physician
Medical reports such as Discharge or death summary, test reports, admission notes
Unnatural/Accidental Death
FIR (First Information Report) or Police Complaint or Panchanama
Post-mortem report copy, viscera, and Autopsy report
Charge sheet or Final Police Investigation Report (FPIR)
Here are some tips to make sure your life insurance claim doesn't get rejected:
Provide Accurate Information: Be honest and thorough when disclosing your health, lifestyle habits, and personal details during the application process. Any inaccuracies could lead to claim rejection.
Promptly File Claims: In case of a claim, notify your insurance provider immediately. Delays in filing could raise suspicions and lead to rejection.
Timely Premium Payments: Keep your policy active by staying up-to-date with Max Life premium payments. Failure to pay premiums could result in the policy lapsing, leading to claim denial.
Below mentioned are the steps to buy Axis Max Life Insurance Plans from Policybazaar:
Step 1: Go to the Policybazaar Life Insurance page and select the type of insurance you want to buy between term insurance and investment plan.
Step 2 : Fill in details like Name, Gender, Mobile Number, DOB, and then, click on View Term Quotes.
Step 3: Also fill in your annual income, smoking habits, educational qualification and occupation type, and then click on ‘View Plans’.
Step 4: Select Axis Max Life Insurance from the list of insurer options available.
Step 5: Fill in details, such as full name, occupation, email, yearly income and educational qualification
Step 6: Fill in your city, pincode and nationality.
Step 7: Choose your preferred option of payment and pay to complete the purchase.
*Note - You can contact the max life insurance customer care service for any additional information or to solve queries and doubts. You can also contact Policybazaar’s insurance advisors for quick resolution.
You can easily reach out to Axis Max Life Insurance through various channels:
Digital Servicing Options: You can reach the Max Life customer executives by scanning the QR code provided or sending 'Hi' to +91 74283 96005 from your registered mobile number.
Customer Login Section: You can conveniently manage your policy by visiting the customer login section on Axis Max Life Insurance's official website.
Email: Write to the company at service.helpdesk@maxlifeinsurance.com using your registered email ID.
Customer Service Helpline: You can also contact the Customer Service Helpline at 1860 120 5577. The company's representatives are available from 9:00 AM to 6:00 PM, Monday to Saturday. Call from your registered mobile number for verification purposes.
Suppose the life-assured, sane, or insane commits suicide within 12 months from the date of policy initiation or from the date of renewal of the policy. In that case, no death benefit will be offered to the beneficiary, and the policy shall be terminated immediately. In such cases, only 80% of the total premium paid till date is returned to the nominee of the policy.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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