I was lured by an Axis bank Manager to buy Ulip plans as an NRI. Invest 10 lacs in 4 years and ended up surrendering. Again a good friend repeatedly requested me to help him to meet his goals as an axis bank manager. Bought maxlife assured insured insurance plan where I was told to pay 1 lac every year for 8 years then get the double after 16 years. I have surrendered that one as well after 5 years losing rs 225000 and obviously growth if I had had invested elsewhere. After I studied finance in last 2 years it was eye opener. My advice to possible investors 1. Never mingle insurance with investment.2. Only buy term insurance.3 also buy medical insurance. 4. Strictly no money back policies at all.5. Directly invest into equity markets by yourself about the same period as the so called plans. Return you will make can really change ur life.6. Kick outta ur door insurance brokers, axis bank employees or othe mutual fund related buggers.7. Only and only insurance you need for an earning member of the family is term insurance. Thanks
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Max Life Insurance Company Limited is a leading life insurance company in India founded in 2001. It is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.
Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation.
Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including online, agency and third party distribution partners.
Max Life has built its operations over almost two decades through need-based sales process, a customer-centric approach to engagement & service delivery and trained human capital.
As per Max Life public disclosures for the FY 2020-21, it has a total sum assured of Rs.10,87,987 Crore and Assets under management(AUM) of Rs.90,407 Crore. Also, as per their Annual audited financials for the FY 2020-21, they have a claims paid ratio of 99.35% which is one of the highest in the industry.
For more information, please visit the Company's website at www.maxlifeinsurance.comSee more