KEEPING INSURANCE HUMAN
Home arrow Life Insurance arrow Max Life Insurance Co. Ltd.
Max Life Insurance Co. Ltd. logo

Max Life Insurance Co. Ltd.

Claims Experience:
5.0
Customer Service:
3.9

Background

Max Life Insurance Company Limited formerly known as Max New York Life Insurance Company Limited is a Life Insurance Company in India. It is the largest non-bank private-sector life insurer in India. It offers Term Life Insurance Plans, Traditional Savings Plans, and Unit Linked Insurance Plans. Founded in the Year 2000, it is a joint venture between Max Financial Services and Mitsui Sumitomo Insurance Limited. The company is headquartered in New Delhi and has 269 offices across 36 States / Union Territories in India. The CEO / CMD of the company is Mr. Prashant Tripathy.

Founded in
2000
Number of Claims
703,971
JV Partners
Max Financial and Mitsui Sumitomo Insurance
Number of Policies
597,567
Turnover (GWP)
19,017.9 Crores

Customer Support

Detailed Ratings

Claims Experience 5/5 star green
Customer Service 3.9/5 star green
% of claims settled in less than 30 days
Reflects on the speed of settling valid claims
99.87%
% of Complaints received on overall claims
% customers unhappy with claims experience
0.05%
How complex is the Claim Form?
The longer, the more hassles during claims
Short
Claim Settlement Ratio (No. of claims)
What % of the claims received were paid?
99.22%
Claim Settlement Ratio (Value of claims)
What % of the claim amount received was paid?
94.48%
Solvency Ratio
Reflects an insurance company’s ability to pay claims. Insurers are required to maintain a minimum 150% Solvency Ratio as per IRDAI regulation
202%
Personal relationship manager for claims
Available
Can you track claims online?
Available
Dedicated toll-free for claims service
Available
Separate Claim Form for above 3 Years Claim
Not Available
Home pickup of Claims
Not Available
Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2021 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂