Axis Max Life Insurance

Axis Max Life Insurance Company

Axis Max Life Insurance Co Ltd. is India's leading life insurance provider, formed as a joint venture between Max Financial Services Limited and Axis Bank Limited. The company is known for its strong financial stability and customer-centric approach. It offers various insurance plans, including protection, savings, child, and pension. With a focus on providing comprehensive financial security, Axis Max Life Insurance ensures lifetime protection and peace of mind for individuals and families across India.

Key Highlights of Axis Max Life Insurance Company?

**Data for the FY 2022-23

Why Should You Choose Axis Max Life Insurance?

• A Strong Partnership: Axis Max Life Insurance is a joint venture between Max Financial Services Ltd. and Axis Bank Ltd., combining the financial expertise and trust of two leading institutions.

• Customer-Centric Approach: Focusing on customer satisfaction, Axis Max Life ensures smooth policy journeys, personalized service, and tailored financial solutions to meet diverse 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

What Are The Different Types Of Axis Max Life Insurance Plans?

The Axis Max Life Insurance policy list is mentioned below. Take a look and choose the one as per your needs and requirements:

Term Insurance Plan

These comprehensive life insurance plans offer you and your family much-needed financial protection. Following are the best term insurance plans

ULIP Plans

These are insurance cum investment plans that help to fulfil the goal of wealth generation. The plans offer much-needed flexibility to manage the investment.

Pension Plans

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

What Are The Axis Max Life Insurance Riders?

Add-on rider benefits enhance policy coverage. The policyholder can purchase the riders by paying an extra premium in addition to the basic premium of the policy. Let’s examine the rider benefits.

• Comprehensive Accidental Benefit Rider (CAB Rider)
  Under this rider option, an extra sum assured is paid to the policyholder's beneficiary in case of accidental demise or dismemberment.

• Waiver of Premium Plus
  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 are the same, then the waiver of future premium is provided to the nominee in case of diagnosis ofa 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.

• Partner Care rider
  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.

• Critical Illness Rider
  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.

• Accidental Total and Permanent Disability Rider
  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 insurance plan continues as usual.

Benefits of Axis Max Life Insurance

Here are the key benefits of Axis Max Life Insurance:

• Financial Protection for Your Family
  Axis Max Life Insurance ensures that your loved ones remain financially secure in your absence. With high coverage at affordable premiums, the policy helps provide a safety net for your family's future, ensuring they can maintain their lifestyle and meet essential expenses.

• Tax Benefits & Savings
  Policyholders can enjoy tax benefits under Sections 80C and 10(10D) of the Income Tax Act. Premiums paid towards the policy qualify for deductions up to ₹1,50,000 annually, and the maturity or death benefits received are also tax-free, helping you save significantly on taxes.

• Long-Term Wealth Accumulation
  Some Axis Max Life Insurance plans combine life coverage with investment options, enabling policyholders to accumulate wealth over time. These plans help meet long-term financial goals such as children's education, marriage, home purchase, or retirement planning.

• Flexible-Premium Payment Options
  The insurer offers multiple payment frequency options—monthly, quarterly, half-yearly, or annually—allowing you to choose a mode that fits your financial planning. This flexibility ensures that you can manage your premium payments without financial strain.

• Diverse Plan Options to Suit Different Needs
  Axis Max Life Insurance offers various policies, including term insurance, savings, retirement, and ULIPs (Unit Linked Insurance Plans). Customers can select a plan that aligns with their financial goals and protection requirements.

• Dual Benefit of Insurance & Investment
  Some life insurance plans come with a combination of life cover and investment opportunities, ensuring that while your family is financially protected, your money grows over time. These plans offer market-linked or guaranteed returns, helping you create a financial cushion for the future.

How To Buy Axis Max Life Insurance Plans From Policybazaar?

Below 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 click ‘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, pin code and nationality.

• Step 7: Choose your preferred payment option and pay to complete the purchase.

*Note—You can contact Max Life Insurance's customer care service for additional information or to solve queries and doubts. You can also contact Policybazaar's insurance advisors for quick resolution.

How To Renew Axis Max Life Insurance Policy?

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 the 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 Axis Max Life Insurance policy details.

How To Make Axis Max Life Online Premium Payment?

Making your Axis Max Life Insurance premium payment online is a simple and convenient. 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 pay for max life insurance premiums online from this section.

• Please enter Your Axis Max Life Insurance policy details, such as your policy number, 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.

How To File Axis Max Life Insurance Claim?

Axis Max Life Insurance provides a convenient and hassle-free claim intimation and settlement procedure. The insurance company processes 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 the IRDAI Annual Report 2023-24.

What is the Online Axis Max Life Claim Settlement Process?

Axis Max Life Insurance has three quick and hassle-free claim settlement procedures. The procedure is as follows:

• Step 1: Intimation of Claim
  The nominee should inform 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 Axis Max Life Insurance branch or downloading it from the insurer’s official website.

• Step 2: Documents Submission
  After submitting all the required information, it is important to upload all the documents with the provided details. The nominee is required to provide the insurer with a few documents, such as the death certificate, age of the policyholder, policy documents, and any other documents requested by the insurer.

• Step 3: Settlement of claims
  According to IRDAI, the insurer must 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 of getting the written intimation notice.

Documents Required to Claim Axis Max Life Insurance

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

• Cancelled 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

Additional Documents

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)

How to Avoid Axis Max Life Insurance Claim Rejection?

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: If you have 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 Axis Max Life Insurance premium payments. Failure to pay premiums could result in the policy lapsing, leading to claim denial.

How To Contact Axis Max Life Insurance Customer Care?

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 on the official website or sending 'Hi' to +91 74283 96005 from your registered mobile number.

• Customer Login Section: Manage your policy conveniently by logging into the Customer Login section on the Axis Max Life Insurance website.

• Email: For assistance, write to service.helpdesk@maxlifeinsurance.com using your registered email ID. The usual response time is 5 days.

• Customer Service Helpline: For existing customers: Call 1860 120 5577 (Monday to Saturday, 9:00 AM – 6:00 PM) from your registered mobile number.

For NRI customers: Contact +91 11 71025900 or +91 11 61329950 (Available 24x7). You can also email nri.helpdesk@maxlifeinsurance.com.

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