June 15, 2024

All About Max Life Insurance Claim Process

Max Life Insurance offers customers comprehensive protection, retirement solutions, and long-term savings options. Each plan is developed to meet the policy buyers’ diverse demands and caters perfectly to their requirements. The provider also ensures that customers have the option to select a suitable plan from among a wide selection of policies. 

In the last 15 years, Max Life has emerged as a reputed corporation through the virtue of its assorted life insurance plans and services that aim to assist individuals to safeguard their financial future and scale long-term goals effectively. However, it is their hassle-free claim process and attentive customer service that appeals to the policy buyers the most.

While the service is competent, intending insurance policy buyers are advised to become familiar with the Max Life Insurance claim process and limitations beforehand. Such an effort will help determine the merit of the policy and help them understand what to expect out of it.

On that note, let us check out the offerings of Max Life Insurance and gain insight into its service.

How to Claim Max Life Insurance?

Max Life Insurance ensures hassle-free claim intimation and a smooth settlement procedure for its customers. The insurance company is known to process claims quickly and ensure that dependents of the insured receive the claim amount without much hassles and on time to account for their obligations smoothly.

Generally, a designated claims officer is assigned for each Max Life claim, who is responsible for guiding the claimant through each step of the process. With a claim settlement ratio of  99.35% policy buyers are assured of the success of potential claims raised by their dependent.

Max Life Insurance allows individuals to opt for online claim settlement. The entire process is quick and can be carried out in these three easy steps:

 

Step 1: Claim Intimation  

The nominee of the insurance policy must notify the insurance provider about the claim in a written format. They can enter their claim information on Max Life Insurance’s official website. They are required to enter relevant data such as policy number, details of the policyholder, claim details, details of the claimant, etc. 

Individuals can also avail of the claim form on the insurance provider’s website and download the same. Alternatively, they may visit the nearest Max Life Insurance branch to avail of the form and seek additional assistance.

Step 2: Submit Required Documents 

It is critical to upload all required documents with the essential data after entering the above-mentioned information. The nominee must submit key documents including the policyholder’s age proof, the death certificate, and policy documents to the insurance provider. Submission of the documents is a must to initiate the claim verification process.

Step 3: Claim Settlement

The insurance company is required by IRDAI to settle a policy nominee’s Max Life Insurance Claim within a period of 30 days of receiving the claim documents.

However, in certain cases where the insurance provider may deem it essential to conduct further research.  It is only under those scenarios that the insurance provider may take no longer than 6 months to settle the claim after the receipt of a written intimation notice. 

Online Claim Settlement Process

Besides the online claim settlement facility, Max Life Insurance also extends the facility to raise claims offline. The offline feature is mostly opted for by those who are not tech-savvy or comfortable with the internet service. 

Such individuals can easily initiate the claim process at the insurance provider’s local branch and follow these steps:

Step 1: Registration of the Claim and Documentation 

To initiate a Max life insurance claim at a local branch office, the nominee of the policy must register the claim and provide all essential data to ensure quick processing of the Max life claim.

Step 2: Evaluation of the Claim 

The claim is examined by the claim assistance team after it has been fully registered and all necessary papers have been submitted. 

Step 3: Settlement of the Claim 

Based on the claim evaluation, a decision is reached and subsequently, the claim is settled.

Documents Required for Death Claim

To intimate a death claim benefit, nominees are required to submit these documents:

  • Original or an attested copy of the death certificate
  • NEFT Mandate application 
  • Canceled cheque
  • Bank passbook
  • Form-A (death claim form)
  • Nominee’s photo ID such as passport, PAN card, Aadhar card, Voter ID, etc.

Besides these, individuals may also need to submit additional documents as deemed applicable as per the cause of death. For instance, 

1.Natural or medical death statement 

  • Medical reports like admission notes, test reports, discharge or death summary

2.Unnatural or Accidental death 

  • FIR
  • Police Complaint 
  • Post-mortem report copy
  • Autopsy report
  • Charge sheet or FPIR

Documents Required to Initiate a Group Claim

A beneficiary has to submit these documents to initiate a group claim:

3.Employer-employee claim application

  • Original or attested copy of death certificate 
  • NEFT mandate application filled by the nominee 
  • A canceled cheque copy with the account holder’s name 
  • Bank passbook copy 

4.Non-employer employee claim

  • Certificate of Insurance
  • Original or attested copy of death certificate
  • Claim application 
  • Attested NEFT mandate application 
  • Bank passbook 
  • Canceled cheque

Based on the cause of death, individuals may be required to submit additional documents. Some of the most commonly requested documents include:

For Natural or medical death 

  • Form c (attending physician’s statement)
  • Medical documents like discharge or death summary, test reports, admission notes

For Unnatural or accidental death

  • FIR copy
  • Police complaint
  • Panchanama copy of post-mortem report
  • Autopsy report
  • Copy of FPIR
  • Charge sheet

However, one must note that like all leading insurance providers Max Life Insurance also lays down a set of circumstances that don’t qualify for claims. Notably, suicide within a year of the insurance policy’s purchase or renewal date, participation in the war, civil commotion, or loss of life due to breaking of laws are among the common exclusion. Make sure to check the complete list of exclusions and added clauses before purchasing an insurance policy. Such circumstances may hamper your scope of claim settlement. To safeguard your dependent’s future or ace your long-term goals you may also consider investing in options like Public Provident Fund. To know its merit and estimated returns you can use a PPF calculator and ascertain if the same will be enough for your later life, especially to support those dependent on you. Regardless, make sure to check the claim process for both options for better preparedness and approach. 

Sneha Shukla

I am an admin at shayarikidiary. I like to share information and knowledge. I love expressing my thoughts through my articles. Writing is my passion. I love to write about travel, tech, health, fashion, food, education, etc. In my free time, I like to read and research. My readings and research help me to share the information through my thoughts.

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