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New Delhi [India], January 12 (ANI/NewsVoir): Max Life Insurance Co Ltd has announced that it disbursed 30,830 death claims worth INR 2,009 crore in the financial year 2021-22, attaining an individual death claims paid ratio of 99.34 per cent. With this, Max Life has surpassed the coveted 99 per cent benchmark for three consecutive financial years. Max Life has deployed predictive analytics-based underwriting models and robust fraud management, strengthened by digitized forensic controls, to ensure a seamless claims settlement process for its customers. With this, over the last five years, Max Life has consistently improved its claims paid ratio from 98.26 per cent 1 in FY'18 to 99.34 per cent in FY'22. Prashant Tripathy, MD & CEO, Max Life said, "The moment of truth for any life insurer comes at the time of 'claims settlement' - the most crucial juncture of the insurer-customer relationship. By achieving a claims settlement ratio of 99.34 per cent and surpassi ....
New Delhi [India], December 16 (ANI/NewsVoir): Max Life Insurance Company Ltd. ("Max Life" / "Company") releases its second Annual Sustainability Report for the financial year 2021-2022. The report discloses information relating to the environmental, social, and governance performance of Max Life Insurance on a consolidated basis. By focusing on four identified pillars of sustainable strategy: Working Ethically and Sustainably; Care for People and Community; Financial Responsibility; Green Operations, Max Life strives to strengthen its ESG focus to help create a sustainable future. From tackling environmental issues to ensuring gender inclusivity and diversity in the workforce to adopting industry-best corporate governance processes, Max Life's long-term, transformational ESG initiatives are based on material topics and are linked to its strategic goals. Prashant Tripathy, MD & CEO, Max Life said, "We are embedding the principles of ESG into our product ....
New Delhi [India], October 14 (ANI/NewsVoir): Max Life Insurance Company Ltd. ("Max Life" / "Company"), has launched an enhanced variant of 'Max Life Guaranteed Lifetime Income Plan' (UIN: 104N076V14 - a Non-Linked, Non-Participating Individual General Annuity Savings Plan) designed to ensure a steady post-retirement income stream. With this plan, customers will now have the option of regular systematic investment to plan early for retirement and lock the annuity amount for life at the time of purchase. The Max Life Guaranteed Lifetime Income Plan offers customers the option to choose between immediate and deferred annuity. They also have the option of selecting a joint life option to ensure the same amount of lifelong annuity to their loved ones even after one's death. Under deferred annuity, the customer can lock the annuity amount at the time of purchase only either by paying a lump sum amount in one go or investing regularly in a systematic way as pe ....
New Delhi [India], September 10 (ANI/NewsVoir): Max Life Insurance Company Ltd. ("Max Life" / "Company"), announced the launch of 'Smart Flexi Protect Solution'#, a three-in-one offering that provides health and enhanced life cover, along with market-linked investment returns. A combination of Max Life Flexi Wealth Plus (UIN:104L115V02), and Max Life Critical Illness and Disability Secure Rider (UIN:104A034V01), this unique proposition of wealth creation along with comprehensive protection against death, disability and critical illness. Prashant Tripathy, MD and CEO, Max Life said, "Max Life's Smart Flexi Protect Solution is designed as a go-to choice for earning individuals, especially for self-employed profiles. The solution is also a hallmark of Max Life's product innovation strength, driven fundamentally by consumer behavior and constantly endeavors to deliver tailored, flexible product offerings keeping speed and simplicity principles in mi ....
New Delhi [India], August 5 (ANI/NewsVoir): Max Life Insurance Company Ltd. ("Max Life" / "Company"), has launched Max Life Smart Secure Easy Solution , a comprehensive three-in-one protection solution offering benefits of life, critical illness & disability and accidental cover. Aimed primarily toward self-employed individuals, the solution is available for multiple customer cohorts including salaried and other professionals to comprehensively guard against life's uncertainties. The solution is a combination of Max Life's Smart Secure Plus Plan (UIN: 104N118V04) that aims at providing financial protection in case of any uncertainties in life with an accidental cover option and Max Life Critical Illness and Disability Health Rider (UIN: 104B033V01), which offers an added layer of financial protection in case of critical illnesses, total and permanent disability and provides extra coverage against death due to accident1. The plan caters primarily to self- ....