Why should one choose Max Life Insurance?
Some of the key reasons to choose Max Life include:
- Claims Paid Percentage of 99.22% (Source : As per Annual Audited Financials, FY' 19-20)
- Max Life Presence across India : 269 Offices
- Sum Assured of ₹9,13,660 Cr. In force for individual policies
- Assets Under Management of ₹68,471 Cr.
- Policy Issuance is also best in industry with average TAT of just 10 days for more than 80% of portfolio (for Online Term Plan)
- Protection against death, Disease and Disability through Riders
- Coverage age till 85 years
Max Life Insurance had a claims settlement ratio of
98.95% in 2018-19, they also covered
64.38 lac lives during the year 2019-20 and had a 13th Month Persistency ratio of
79%, as per the data provided by IRDAI as well as the Public Disclosures available on the company’s website.
Claims Process
For any Claims Assistance:
Customer Service Helpline: 1860 120 5577 (9am - 6pm / Monday to Saturday)
Online Plus Helpline: 1800 200 3383 (8am - 9pm / Monday to Saturday)
NRI Helpdesk: 0124 5098162 / 0124 4905150
Email ID:
claims.support@maxlifeinsurance.com
Write to us at: Max Life Insurance Operations Centre-Claims Dept,
Max Life Insurance Company
Operations centre, - 2nd floor
90A, Sector 18, Udyog Vihar,
Gurgaon-122015, India
For Cashless Benefit Claims:
Call on: Toll free number 1800-290-3151
Email at: phs.mli@paramounttpa.com
Write to the TPA at: Paramount Health Services Pvt. Ltd.
D-39, Okhla Industrial Area, Phase 1,
Near D. D. Motors, New Delhi -110 020
Document to be submitted at the time of a Claim
We request you to submit the following documents to register a death claim:
Mandatory documents required:
- Original policy documents
- Original/attested copy of death certificate issued by local municipal authority
- Death claim application form (Form A)
- NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook
- Nominee's photo identity proof such as copy of Passport, PAN card, Voter identity card, Aadhar (UID) card, etc.
Additional documents required on basis of cause of death:
- Medical/Natural death:
- Attending physician's statement (Form 'C')
- Medical records (admission notes, discharge/death summary, test reports, etc.)
- Accidental/Unnatural death:
- Copy of the First Information Report (FIR) or Panchanama/Police complaint
- Copy of Post Mortem report (PMR)/Autopsy and Viscera report
- Copy of the Final Police Investigation report (FPIR)/Charge sheet
Documents Required for a Health Claim
We request you to submit the following documents to register a health claim:
- Health claim application form (Details of forms available under claim forms section) – Cancer Claim Form in case of a Cancer Claim
- Attending physician's statement
- Attested copies of all medical records
- NEFT mandate form
Claims FAQ's
Where can I get claim forms and list of documents required for submission?
You can get claim forms
- Download from the Website Claims Section at eindiainsurance
- Visit the nearest Max Life Insurance company branch
Why is it essential to submit all the records / documents as required by the company?
All claims are examined and settled by the company on the basis of information present in documents submitted by you in connection with the claim. It is advisable to provide complete information to us for faster and smoother claims processing.
What is the time frame within which the claim has to be reported to the company?
It is advisable to intimate the claim at the earliest after death has happened. In case of Dread Disease and Critical Illness claims, claim should be intimated only after the end of survival period (after 28/30 days of event occurrence)
What is the time frame within which claims are settled?
As per regulations, all valid claims are to be settled within 30 days after all necessary documents /clarifications have been received. In case, the claim warrants further verification, it may take upto 120 days to settle the claim. Subsequently, when a decision is taken, it is communicated to the claimant.
How will I receive the claim amount?
You will receive the claim amount as per the option that you have chosen at the time of submitting the claim documents. We encourage electronic fund transfer in order to provide our customers fast and hassle free experience.
What is the procedure when there is no nomination or in case of nominee’s death?
In such circumstances, we would require the proof of title like Registered Will or Succession certificate issued by the competent court. The succession certificate should specifically provide orders for disbursement of policy monies. If, however, the deceased has left a Registered Will, a probate of the Registered Will is required along with the copy of the Registered Will.
Who is entitled to receive the policy money?
A claim is declined on the non-disclosure of any material information made at proposal/reinstatement stage, which affects the issuance/reinstatement of policy/rider. Also, non-fulfillment of contract terms and conditions may also lead to claim being declined.
What are the different types of riders offered by the company?
- Personal Accident Benefit Rider (PAB) provides benefit in the event of accidental disability.
- Accidental Death Rider Benefit (ADB) provides benefit in the event of accidental death.
- Dreaded Disease / Critical Illness Rider Benefit provides benefit in case of occurrence of any of the conditions / surgeries covered in the contract.
- Waiver Of Premium Rider Benefit (WOP) provides benefit in the form of premium waiver in case of accidental disability of the payer / death of the payer.
* For details on rider benefit, please refer to the policy document
What are the exclusions under the rider benefits?
Exclusions include:
- In case the dreaded disease / surgery occurs within waiting period (90 to 180 days) of the policy issuance, depending upon the contract terms and condition*.
- If the condition / surgery is not covered under the policy terms and conditions*.
- Accidental injury, which occurs due to self-inflicted injury.
- In case, the life assured commits suicide within 1 year of the policy issuance.
- In case, the life assured is involved in any unlawful activity resulting in injury.
- In cases where the injury occurred is not as per the policy terms and conditions*.
* For complete details on exclusion, please refer to the policy pack
When can a claim get rejected?
- Policy has lapsed as on date of the unfortunate incident
- In case of any material non-disclosure at the time of proposal signing
- If the condition/ surgery is not covered under the policy terms and conditions
- If the criteria for the illness / surgery is not fulfilled as per the policy terms and conditions
