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Max Life Advantage

 

About Max Life Insurance

Max Life Insurance, one of the leading life insurers, is a joint venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Max Financial Services Ltd. is a leading Indian multi-business corporate, while Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the top general insurers in the world. Max Life Insurance offers comprehensive life insurance and retirement solutions for long-term savings and protection to around thirty lakh customers. It has a country-wide diversified distribution model including the country's leading agent advisors, exclusive arrangement with Axis Bank and several other partners. Max Life Insurance is a quality business focused on delivering excellence to customers through advice based sale process, customer centric approach to business, financial stability & investment expertise and strong human capital.

Max Life Advantage

1. Financial strength and stability

Max Life’s focus on fundamentals and efforts to differentiate in the market place based on its advice based sales, diversified distribution architecture and comprehensive product portfolio helped achieve a financial strength and stability. The company achieved profitable growth even in a tough year for the industry.

The Company recorded an Enterprise level Profit Before Tax of Rs.808 crore and Shareholder Profit Before Tax of Rs. 478 crore. Gross Written Premium of the Company grew 12% to Rs. 8172 crore. In view of a strong all round performance during FY 2014-15, the Company declared Total Shareholder Dividend (net of DDT) of Rs.200 crore and allocated Bonus of Rs. 596 crore to participating policyholders, a 52% upward revision from previous year.

Max Life Insurance also performed well on other business parameters during the FY 2014-15 :

  • Assets Under Management increased by 26% to Rs.31,220 crore
  • Total Sum Assured of Rs. 2.26 lakh crore
  • Solvency Ratio of 425%, more than 2.8 times the mandatory 150%, indicates the Company’s strong and stable financial position

2. Claims Promise

Life insurance is, in the ultimate analysis, a business of paying claims and supporting the customer's family when they need us the most. To be true to our promise to policyholders, Max Life Insurance has set up an effective claims settlement process, making it simple, quick and hassle-free. This is especially important because claimants, who are dealing with an unplanned incidence such as loss of some loved one, need our reassurance and support, not the pressures of complicated follow-ups.

Faster Claim Settlement
We are committed to settle all the death claims in friendlier and speedier manner post receipt of all claim documents and information. In case of any delay on our part, we pay interest on the amount to be settled.

Claims assurance
All claims on policies that have completed three continuous years from the effective date will be honoured, unless such policies were obtained with fraudulent intentions.

Personalised assistance
When you submit a claim, a dedicated Claims Relationship Officer will be assigned to you. He will contact you within five working days to assist you in claims settlement.

3. Differentiated/unique product offering

We all dream of a tomorrow that is secure, stable and full of financial freedom. One of the easiest ways to make it happen is through life insurance. Which is why, Max Life Insurance has a range of Life Insurance plans that help you fulfil your various needs - be it financial protection of your family, planning for your child's education, saving for retirement or just growing your wealth.

Online Term Plans –
  • Max Life Online Term Plan Plus
Lump sum -Sum Assured
Ø A protection solution for your loved ones at an affordable price
Ø
100% Sum assured as lump sum on demise of the life insured
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Sum Assured + Level Monthly Income
Ø A protection solution to take care of any liability and provide a steady income to family
Ø 100% Sum assured as lump sum on death + Tax free monthly income for 10 years
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Sum Assured + Increasing Monthly Income
Ø A protection solution to handle multiple liabilities and take care of increasing living costs and expenses
Ø
100% Sum assured as lump sum on demise of the life insured + Tax free monthly income for 10 years. This income increases every year at 10% simple rate of interest
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Online Retirement Plan –
  • Max Life Forever Young Pension Plan
Ø Guaranteed Retirement Income for you and your wife for life time post retirement.
Ø Benefit of equity combined with minimum guarantee of returns.
Ø Additional Protection through Partner Care Rider.
Ø Guaranteed Loyalty Additions from 11th year of your policy to boost your maturity
Ø Unique option to systematically increase your premium contribution by 5% every year through 'Save More Tomorrow'
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4. Service Excellence

Treating Customers Fairly (TCF) remains the bedrock of all customer centric initiatives at Max Life Insurance. In keeping with this philosophy, our constant focus is on enhancing the experience of our customers through continuous improvement in processes. We extend thoughtful service at all touch points and believe in long-term customer relationship. As a result of our efforts, we now have one of the lowest customer complaints incidence rate in the industry at 0.19 per thousand for FY 2014-15. We have pledged a ‘Service Promise’ that entails

  • 20 second call pickup
  • 4 hour query acknowledgement
  • 24 hour resolution of queries**
  • Free premium cheque pickup in 20 cities within 24-hours

5. Strong Corporate Governance

Max Life Insurance believes that a strong system of corporate governance is essential to help the business run smoothly and aid effective decision making in order to support the achievement of the Company’s objective.
Further, it always believed that able leadership and strong corporate governance systems play a critical role in the ability of Company to effectively focus, develop and create value for the enterprises.
We remain committed to excellence in Corporate Governance and recognize that it is a driver of value driven leadership and high standards of accountability, transparency and ethics across the Company.

6. Awards & Recognition

At Max Life Insurance, with each award and accolade received over the years, we have renewed our promise of providing the best quality of products and services to our customers. Some of the awards and recognition rewarded to us are as follows :

  • Won the Global Finance Best Life Insurance Company 2014, India.
  • Max Life i-genius won Silver  and Bronze 'Abby' award at Goafest 2014.
  • Recognised amongst India's Best Companies to Work For 2014...Ranked 58th from 82nd last year by GPTW.
  • Project CARS won QCI - D.L.Shah Commendation Award 2014.
  • Project Proactive Retention won Bronze Award at World Conference for Quality & Improvement 2014 (WCQI) in Dallas, USA.
  • Recognized amongst the top 100 companies 'India's Best Companies to Work for 2013' a survey by Great Place To Work® Institute.
  • Selected as Superbrand of the Year 2013-14.
  • Max Life Insurance won the 6th National Conference & Competition on Six Sigma, 2012, held by the Confederation of Indian Industry (CII) for the Green Belt project "Power of Speed - Settlement of Claims within 10 days". Overall 24 project presentations were made by manufacturing and service sector companies that included HCL, Wipro, Times of India, 3M India & QuEST Global from service sector.
  • Silver EFFIE Award in 2012, for the 'Aapke Sachche Advisor' campaign. Organized by The Advertising Club Bombay in India, the EFFIEs have become the gold standard in measuring marketing and communication effectiveness in India.
  • QCI DL Shah Awards for Best Six Sigma Project on economics of Quality - 2012.
  • CII National Six Sigma recognition for Best Six Sigma Project - 2009.
  • CIO 100 Technology Award 2008 - 2011.
  • Awarded the Asia Insurance Industry 'Innovation of the Year' Award 2009.
  • Gallup Great Work Place Award 2009.
  • 'CII - EXIM Bank Commendation Certificate for Strong Commitment to Excel' for the year 2008 to 2010.
  • **24 hours resolution of queries include:
  • - Duplicate Premium Receipt
  • - Email id Updation
  • - Consolidated Statement of Premium Payment
  • - Policy Details
  • - Documentation Requirement for any changes Etc.
Disha's Helpdesk

Call Us: 1800 200 3383
Email Us:

online@maxlifeinsurance.com