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Max Life Insurance Company Ltd. was incorporated in the year 2001 as Max New York Life Insurance Company Limited in India. It is a major subsidiary of Max Financial services and is headquartered in New Delhi. The company is one of the leading private sector non-banking life insurance providers in the country. It is a result of joint venture between Mitsui Sumitomo Insurance Company and Max Financial Services. The former owns 26% stakes in the company and the later 66%. After collaborating with Mitsui Sumitomo, Max New York Life changed its name to Max Life Insurance, in 2012.
Being a non-banking insurance provider, Max Life has associated itself with more than 50 companies in India to make sure that the services it offers are available to everyone. Its distribution channels include banks, corporate agents, and brokers amongst others.
Policies Offered by Max Life Insurance
The life is an uncertain ride, and you never know when you are no longer there to support your family. Therefore, the services offered by Max Life are designed to stand by you in all uncertainties that cross your path. It has come up with Savings Plans, Children Plans, Protection Plans, Group Plans, Retirement Plans, Growth Plans and Strategic Plans.
To begin with, there are certain Term Plans which can be availed online; they are Basic Life Cover, Life cover + Monthly Income, and Life Cover + Increasing Monthly Income. These plans make sure that in case of occurrence of an unfortunate incident, life cover helps your family meet the regular expenses and other financial obligations.
The second category is Protection Plans– these are designed to ensure that your family does not have to depend on anyone else for the lifestyle they desire after you are not around. They guarantee maximum protection at low costs.
Then there are Retirement Plans, which are devised by Max Life to make your life after retirement worry free. You can pay the premium while you are working and enjoy the fruits of it when your policy reaches maturity. After retirement, you will receive the claim in lump-sum or installments to fulfill every desire you had. The Child Plans are designed to ensure that if your child’s potential knows no bounds, no amount of money comes in the way of providing them the best education.
Growth Plans help you grow your wealth while your risks and life are covered by Max Life. The gradual growth in your investment will make sure that all your dreams on your wish list come true. Savings Plans are similar to growth plans and they give you the right platform to save your earnings while they grow. This enables you to save for the goals you have set for your future self.
Group Plans can be availed by an organization to cover the life and health of its employees and their families. This not only inculcates a feeling of belongingness in the employees but also becomes a support to the family of the employee in difficult times.
Max Life Insurance Premium Renewal Offers, Discounts on Premium Available in Max Life Insurance
Max Life has made it easier for consumers to avail policies and plans by introducing many deals which include premium renewal offers, flexible premium payment options and discount on premiums on the purchase of multiple policies and various loyalty additions.