Life Insurance : Max Life Insurance Company in India 2020

Time 2020-09-24 20:04:28

Web Name: Life Insurance : Max Life Insurance Company in India 2020

WebSite: http://www.maxlifeinsurance.com

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Life Insurance PlansLife Insurance policy is a contract between an individual (policyholder) and an insurance company (insurer). Under the contract, the policyholder pays a certain sum of money as a premium to the insurance company. Max Life BlogA Life Insurance Plan can help reduce your family's financial burden, in case you are no longer around. Read on to enable yourself to take more informed decisions for your family's financial protection. Customer ServiceMax Life envisions to be the most admired life insurance company by securing the financial future of our customers. Discover Max Life InsuranceMaking Life Insurance simpler, accessible, affordable. Buying insurance plans has never been easier than this. Explore our online plans and enjoy a smooth paperless purchase process, all within a few minutes! Buying insurance plans has never been easier than this. Explore our online plans and enjoy a smooth paperless purchase process, all within a few minutes! Get guaranteed lump sum maturity benefit to meet your savings goalsFlexible Premium Payment and Policy Term Options to help build wealth by saving systematicallyLump sum death benefit is paid immediately on death of Life InsuredSeven different variants for the death benefit payoutSingle Pay, Regular Pay, Pay till 60 and Limited Pay options are available for premium paymentFreelook period of 15 daysOnline ULIP plan offer lower charges on investmentsConvenience to buy anytime and from anywhereFlexibility and freedom to choose policy terms, premium payment term and sum assured multiplesMultiple claims for early stage cancer Even during late-stage cancer detection, 100% cover amount is payable Increase in coverage for every claim-free year Why Choose Max Life Here are some of the numbers which speak about our accomplishments Why Choose Max Life Here are some of the numbers which speak about our accomplishments Special initiative for startups to build smart insurance solutions Ranked 24 in India s Top 100 Best Companies to work for As recognized by Great Place To Work Institute, 2020 Best Organization on Fraud Risk Mitigation processes Fraud, Risk Compliance Conference 2.0 Most admired campaign for Brand Revitalization - Max Life India Protection Quotient Asian Customer Engagement Forum (ACEF) 2019 Excellence in Consumer Insights/Market Research – Max Life India Protection Quotient Asian Customer Engagement Forum (ACEF) 2019 Most Admired Brand Activation Campaign – Max Life The RUN Asian Customer Engagement Forum (ACEF) 2019 Disruptive Technology Innovator of the Year (Insurance company) - mRec ET BFSI Excellence Awards 2019 Silver Award at ASQ ITEA (International Team Excellence Awards) SELL RIGHT FOR CUSTOMER DELIGHT AT AXIS BANK Great Place to Work (GPTW) - 2019 Max Life Insurance ranked 35 in Top 100 companies to work for by Great Place to Work Institute, India Great Place to Work (GPTW) - 2018 Max Life recognized amongst Top 15 BFSI companies to work for by Great Place to Work Institute, India IAMAI - 2018 Max Life won the GOLD Award in the category of “Best Email Marketing Campaign” at 2018 - India Digital Awards Won a Silver at ACEF Super Customer Week won a Silver at ACEF Global Customer Engagement Award Effie Award - 2018 Max Life’s foray in strengthening the Protection Agenda Recognised with the Prestigious Effie Awards for Communication Effectiveness Quality Fables and Improvement - 2017 Winner in two category at 29th QUALTECH Prize CompetitionWhy Should You Consider Life Insurance?As Indians, we put personal safety before everything else. Every day, before we leave for work, we check whether we have our wallets, cell phones, car keys, and house keys on us. We turn off all the lights, double-check if we have locked the doors securely, put on the seat belt, and only then start the car.Even when we are shopping online, we put items in the cart that we like. Before making the payment, however, we make sure to check whether we can return them without any fee, in case the items are faulty.When it comes to planning for life’s goals; therefore, it is imperative that you put contingency planning above all else.When you put Life Insurance in your financial portfolio, you can ensure that your loved ones remain financially secure throughout their lives, even if something serious happens to you. At the same time, your insurance plan helps you maximize your tax savings and work towards creating wealth. Like you cannot build your house without a firm foundation, you need life insurance to serve as the foundation to better and secure tomorrow for your family.    It would help if you prioritized buying life insurance before making any other investments, for the simple reason that the insurance benefit will help you secure your family’s financial future in case of your untimely demise.Adding Life Insurance to your list of must-do’s will not only get you additional benefits such as year-on-year tax savings up to Rs. 1.5 lakh under Section 80C as per prevailing tax laws and rider options to enhance your life cover against critical illnesses or a sudden loss of income due to accidents.Moreover, having life insurance helps increase your risk tolerance. The primary goal of any investor is to grow money over the long-term.Determining your risk tolerance and, subsequently, going with the appropriate asset allocation (the blend of stocks, mutual funds, and cash) is crucial. With life insurance in your financial portfolio, you can take more risk with your investments. The significance of putting life insurance at the top of the heap of your financial investments can be understood through a cricket test match.A test match extends up to 5 days, and for each day, the playing strategy changes — similarly, your financial planning changes, too, as per your life stage and financial requirements. Let us see how life insurance is crucial for long-term financial sustenance.Day 1: After winning the toss, you start the day’s play with caution, leaving or defending the good balls and punishing the bad deliveries for runs. Similarly, as soon as you start earning an income, the first thing that you need to do is to create a fool-proof strategy against life’s contingencies. This is where life insurance becomes a vital cog in your long term plans. With life insurance in your kitty, you can make sure that your loved ones do not have to depend on anyone else to support them, especially when you are no longer there to help them accomplish their dreams.Day 2: Once you have the backing of a cautious yet emphatic start, and an imposing first day of cricket, you try to build upon your previous day score. In terms of financial planning, the next stage after purchasing life insurance is to build on your savings through a mix of traditional and market-linked investments. You can consider traditional savings instruments such as bank fixed deposits, recurring deposits, and provident funds while building up your tolerance for more aggressive market-linked investments.Day 3: You invite the opposition to best your first inning total and create a game plan to put your opposition on the backfoot. In life too, you prepare your finances against emergency medical situations and other unplanned expenditures with the help of health insurance. Together with life insurance and a health plan in your back pocket, you equip yourself and your loved ones against any crisis.Day 4: Often, you have to second inning on this day – dig in deep to fortify your first-innings lead and work towards building a high total for the final day showdown. When it comes to creating a financial portfolio, it is now time for you to look for investment opportunities to help maximize your savings into wealth, so that you can effectively support your family’s goals, be it your child’s higher education, marriage or your spouse’s financial wellbeing. It is only through efficient financial planning and long-term capital appreciation of your savings that you can prepare yourself for your retirement.Day 5: On the last day of the match, it is now time for you to put your total match score to test so that you can beat your opposition and put the crown of victory on your head. In life, too, the last stage of your financial planning is about bringing your savings and investment returns to fruition. You look to diversify your investment portfolio by including different equity and debt market instruments so that you can achieve maximal capital appreciation while minimizing the investment risks and ensure long-term financial sustenance. Many investors tend to make a common mistake of investing in instruments without factoring their entire financial picture – the equity they have built-in their home, existing loans, and other liabilities. Ideally, every asset and investment you own should factor into your risk-reward equation.Having life insurance in your financial portfolio allows you to take more risk when it comes to securing your life and making sure that you provision a significantly large financial corpus (in the form of insurance coverage) as backup against contingencies, while continuing to invest for other life goals.  Moreover, with a life insurance plan in your pocket, you can be sure that even if something serious happens to you, your family will not have to deal with a financial crisis at any time during their lives.The insurance plans will help your family stay financially protected, serving as a safety net that will prove useful in case of an eventuality. Also, the insurance coverage will augment the total accumulated value of your investments, making sure that your loved ones continue to have a lifestyle that you intended for them, even if you are not there with them. I bought Max Life Insurance on the recommendation of one of my friends. The plan really helped when I needed money. Mr. Shinde, 35 Pune, 04 October 2017 Income tax slab rates deduction Every tax payer knows the toll that paying taxes puts on their financial income. To minimize this impact, tax planning is essential and needs to be done wisely. Tax Planning helps you to smartly invest in savings instruments, thereby offering combined benefits of investment growth as well as reduction in the amount of taxes paid to the Government. Read More Which term plan will suit you best? Term plan is the bedrock of financial planning. It is the most basic form of life insurance. The core benefit of a term plan is that it provides a high life cover for your family at an affordable cost. This, when clubbed with various riders, or additional cover from an accident, disability and disease make term plan a power packed shield for your family. Apart from understanding what a term plan is, it is also important to know how to go about choosing the right one for your family. Read more to understand which term plan will suit your family basis the your life stage Read More Why buy a child plan? The cost of higher education is rising swiftly in India. With such steep education costs 20 years from now, it is imperative to follow a disciplined savings regime to be able to support your child’s goals. It is also important that your investments should give generate a rate of return that is higher than the inflation rate. Click here to know how a child plan helps your child enjoy a great future. Read More 3 Retirement Planning mistakes to avoid The second innings in any game is even more exciting than the first. This holds true in case of life too. Your lifestyle during those golden years should be magnificent. To make that happen, your investment needs to beat inflation. Retirement plans help you in invest in a disciplined fashion today, to secure a great lifestyle tomorrow. Read more about 3 mistakes that you should avoid while saving for your retirement. Read More You will receive four digit verification code on your mobile and email within next 60 second. This code will be valid for next 30 minute. BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS IRDAI clarifies to public that:• IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums.• Public receiving such phone calls are requested to lodge a police complaint. IRDAI - Registration No. 104. ARN/Web/01/040920 Category: Life. Validity: Valid.Corporate Identity Number (CIN):U74899PB2000PLC045626.Trade logos displayed above belong to Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co Ltd under a license.  Copyright @2016 Max Life insurance Co. Ltd. All Rights Reserved. An ISO 9001:2008 Certified Company. Max Life Insurance Co. Ltd. is a Joint Venture between Max Financial Services Ltd. and Mitsui Sumitomo Insurance Co. Ltd. Registered Office: 419, Bhai Mohan Singh Nagar, Railmajra, Tehsil Balachaur, District Nawanshahr, Punjab -144 533. Corporate Office: Max Life Insurance Co. Ltd., 3rd, 11th and 12th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002. Operation Center: Max Life Insurance Co. Ltd, Plot No. 90-A Udyog Vihar, Sector 18, Gurugram (Haryana) - 122015.Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply. Online Term Plan Helpline: 1800 200 3383. Fax Number:0124-4159397.Email ids: service.helpdesk@maxlifeinsurance.com; online@maxlifeinsurance.comLife Insurance Coverage is available in this ProductTHE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V03) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.*#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums .The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.** Standard Premium For 24-Year Old Male, Non-Smoker, 25 Years Policy Term, 25 Year Premium Payment Term (exclusive of GST).Max Life Smart Term Plan (UIN: 104N113V03), Max Life Smart Term Plan is a non-linked non-participating individual pure risk premium life insurance plan; upon policyholder's selection of Premium Back variant, this product shall be non-linked non-participating individual life insurance savings planMax Life Online Term Plan Plus (UIN 104N092V01 / UIN 104N092V02 / UIN 104N092V03/ UIN 104N092V04) A Non-Linked Non-Participating Individual Pure Risk Premium Life Insurance PlanMax Life Assured Wealth Plan is a Non-Linked Non-Participating Individual Life Insurance Savings Plan (UIN 104N096V04)^On payment of additional premium*^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.~The percentage saving computed is purely in terms of premium paid over the term (Difference between Limited and Regular pay) of the policy and does not account for time other factors that may happen during this period. It is one of the many variants that the product offers and you can opt for it based on your individual needs. The percentage savings is for Online Term Plan Plus- Life Option for 1 Crore life cover for a 28 year old healthy male for a policy term of 40 years with regular income pay out option. The total premium will be 3,20,640 (in case of regular pay) and 1,79,520 (in case of 10 pay) excluding taxes.**^ As per Annual Audited Financials, FY' 19-20*^* BEST TERM PLAN COMPANY^*Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day. Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification.Mandatory Documents : • Original policy document • 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 along with nominee's photo identity proof • Discharge/Death summary attested by hospital authorities or FIR Post Mortem Report/viscera report (in case of accidental death)^** All claims that qualify for InstaClaim™ will be paid within 1 working day from date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on beginning of financial year in which claim has been received (6.25 % for p.a. FY’19) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which death claim has been received.5Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income = 10 lacs with CIBIL score = 650 (salaried) and = 700 (self-employed) with no disclosed medical condition.4 InstaClaimTM is available for all versions of Max Life Online Term Plan (UIN 104N078V01); Max Life Online Term Plan Plus (UIN 104N092V01 / UIN 104N092V02 / UIN 104N092V03/ UIN 104N092V04) and Max Life Smart Term Plan (UIN: 104N113V01 / 104N113V02/ 104N113V03). Mandatory Documents : • Original policy document • 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 along with nominee's photo identity proof • Discharge/Death summary attested by hospital authorities or FIR Post Mortem Report/viscera report (in case of accidental death)*Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).THE LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.*(a) Protect a smile initiative is applicable for all term plans i.e. Max Life Five Year Renewal Convertible Term Insurance (Non Participating)- 104N001V01; Max Life Easy Term Policy- 104N002V01; Max Life Level Term Policy (Non-Participating/Non-Convertible)- 104N009V01; Max Life Platinum Protect-104N060V01; Max Life Platinum Protect II-104N060V02; Max Life Premium Return Term Plan- 104N069V01; Max Life Online Term Plan-104N078V01; Max Life Premium Return Protection Plan- 104N083V01; Max Life Super Term Plan- 104N086V01; Max Life Super Term Plan- 104N086V02; Max Life Super Term Plan- 104N086V03; Max Life Online Term Plan Plus -104N092V01; Max Life Online Term Plan Plus- 104N092V02; Max Life Online Term Plan Plus-104N092V03; Max Life Smart Term Plan-104N113V01.(b)    1 year education of an under privileged child will be funded as part of Max Life CSR initiatives.

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Max Life Insurance , A leading life insurance company in India, offers a range of life insurance plans and policies to ensure Lifetime Protection for you and your family.

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