In today’s time, life insurance is the best means of protection for every person. Whenever we talk about financial security of our family, future planning and preparation for uncertain situations, the name of life insurance comes first. There are many major insurance companies operating in India and one of them is Axis Max Life Insurance Company Limited, which provides insurance products to customers in partnership with Axis Bank.
Introduction to Axis Max Life Insurance Company
Max Life Insurance was founded in the year 2000 and is one of the most trusted private insurance companies in the country. Due to the partnership between Axis Bank and Max Life Insurance, customers get insurance services through bank branches.
Features of this company –
- Customer-centric insurance products
- Simple and transparent terms
- Online policy with digital features
- High Claim Settlement Ratio (CSR)
- Long-term investment and savings plans
Why is life insurance necessary?
Before taking life insurance from Axis Max Life, it is important to understand why life insurance is mandatory for us.
- Financial Security: The family gets financial support in case of any untoward event.
- Loan Repayment: If the insured person has any loan, it can be reimbursed through the policy.
- Future Planning: Major expenses like children’s education, marriage or building a house can be met.
- Peace of Mind: Life insurance provides a safety net for your family.
Key Plans of Axis Max Life Insurance
Axis Max Life offers a variety of life insurance plans. Some of the key plans are as follows –
Term Insurance Plan
- High coverage at low premium
- Protection to family in case of accidental death
- Can be easily purchased online
Endowment Plan
- Benefit of saving with insurance
- Proceed received on maturity
- Suitable for long term financial planning
Retirement Planning
- Protection for pension and retirement
- Monthly/Annual income facility
- Financial freedom in old age
Child Insurance Plan
- Protection of children’s education and future
- Reduces dependency on parents
Process to get life insurance from Axis Max Life
Online Application Process
- Visit the website of Axis Bank or Max Life Insurance.
- Choose the “Life Insurance” tab and choose the policy you want.
- Enter basic information like name, income, standard of living, occupation, mobile number and email in the form.
- Find the premium amount from the ‘Premium Calculator’ and view the options.
- Choose the sum assured, insurance term and required riders (like critical illness cover, accidental death cover, etc.).
- Choose the right plan and make the payment by clicking on ‘Buy Now’.
- After successful payment, the policy documents will be sent to your email.
Buy via Mobile App or Internet Banking
- Log in to Axis Bank Net Banking or Mobile App.
- Go to the ‘Insurance’ section and follow the application process.
Offline Application (Agent/Branch)
- You can apply by visiting your nearest Axis Bank or Max Life office.
- Consult an insurance advisor at your office for further assistance.
Required Documents
- Photo ID: Aadhar Card, Passport, PAN Card, Voter ID.
- Address Proof: Aadhar Card, Passport, Electricity Bill, Water Bill etc.
- Income Proof: 3 months salary slip, last 2 years income tax return, bank statement.
- Passport size photo.
- Age Proof: Aadhar Card, Birth Certificate, School Leaving Certificate.
Medical Test
- Sometimes, medical test may be required depending on the sum insured or age. This process is prescribed by the company.
Premium Payment
- Payment can be made through debit/credit card, net banking or UPI.
- The insurance policy will be issued only after the payment.
After the policy is issued
- Read the terms and conditions of the insurance policy carefully.
- Check the nominee and other important details.
- Pay the premium from time to time so that the policy remains in force.
Benefits of Axis Max Life Insurance
- Reliability – The company has a good claim settlement ratio (CSR).
- Digital convenience – Buying a policy, paying premiums and making claims is possible online.
- Tax benefits – Tax exemption under sections 80C and 10(10D).
- Diverse plans – Suitable policy options for every category.
- Customer support – 24×7 helpline and support from bank branches.
Things to keep in mind while buying a policy
- Always provide correct information, providing incorrect information may result in rejection of claim.
- The sum assured should be at least 10-15 times your income.
- Pay the premium on time so that the policy does not lapse.
- Read the terms and conditions carefully.
- Choose the plan as per your need and goal.
Conclusion
Axis Max Life Insurance Company is a trusted name in the life insurance sector. It not only provides life protection but also offers savings, investment and retirement plans. If you want financial security and future stability for your family, then taking life insurance from Axis Max Life Insurance will be a wise decision. By choosing the right policy, you can give the gift of life protection to your family.