Axis Max Life Insurance Company
Axis Max Life Insurance Company Limited is an IRDAI-registered private life insurer founded in 2000 and headquartered in Gurugram, Haryana, holding registration number 104. It traded as Max Life Insurance until 2024, when it became a joint venture after Axis Bank increased its stake. Policies issued as Max Life continue under the renamed entity.
Key Facts
| Category | Detail |
| Legal Name | Axis Max Life Insurance Company Limited |
| Former Name | Max Life Insurance, renamed on 13 December 2024 |
| IRDAI Registration Number | 104 |
| Licence Class | Life Insurance |
| Founded | 2000 |
| Headquarters | Gurugram, Haryana |
| Promoters | Axis Bank Limited and Max Financial Services Limited |
| Claim Settlement Ratio [2024-25] | 97.3% |
| Claims Settled By Count [2024-25] | 20,165 |
| Solvency Ratio [2024-25] | 2.01 |
| Last Verified | 23 September 2026 |
About Axis Max Life
Max Life was renamed Axis Max Life in 2024 after Axis Bank increased its shareholding in the business. The policy terms and offerings of both companies remain unchanged, and no policyholder action was required. Currently, every policy issued under the Max Life name remains valid and is serviced by Axis Max Life. You can use the policy number printed on your original document to find any details.
Established initially as a joint venture between Max Financial Services and a foreign insurance partner, Mitsui Sumitomo Insurance, Axis Bank entered as a shareholder and progressively increased its stake. The current shareholding split is 19.99% for Axis Bank and 80.01% for Max Financial Services.
The company distributes through Axis Bank branches, its own agency force and online channels. A bancassurance partnership through a large private bank shapes the product mix, though Axis Max Life has historically carried a stronger protection weighting than most bancassurance-led insurers.
IRDAI Registration and Licence
Axis Max Life holds IRDAI registration number 104 as a life insurer. The registration permits it to sell term insurance, child plans, endowment and savings plans, retirement plans, health plans, unit-linked plans, money-back policies, whole life plans, annuities, pension products, riders, and group life cover. It does not include motor, home, or fire insurance.
The registration number did not change with the rename. A registration follows the legal entity, not the trading name, so a Max Life policy and an Axis Max Life policy sit under the same IRDAI registration.
Do not confuse this company with Max Bupa. Max Bupa Health Insurance was a standalone health insurer, renamed Niva Bupa in 2021, and it is a separate company with a different licence class. The shared Max heritage makes this one of the most common mix-ups in Indian insurance.
Claim Settlement Record
Axis Max Life reported a claim settlement ratio of 99.70% in FY 2024-25, settling 20165 death claims out of 20225 received claims. IRDAI publishes the figure annually.
| Measure | Axis Max Life [FY 2024-25] | What It Means |
|---|---|---|
| Claim Settlement Ratio by Count | 99.70% | Percentage of death claims settled |
| Claim Settlement Ratio by Amount | ₹1452 Crore | Claim value settled |
| Claims Received | 20225 | The volume the ratio rests on |
| Claims Repudiated | 60 | Claims declined outright |
Financial Strength
Axis Max Life reported a solvency ratio of 2.01 in FY 2024-25, against the IRDAI minimum of 1.50 required of every registered insurer.
| Measure | Axis Max Life [FY 2024-25] |
|---|---|
| Total Premium Income | ₹33,222.60 Crore |
| New Business Premium | ₹12,173.58 Crore |
| Assets Under Management | ₹1,71,663 Crore |
Axis Bank holding a significant stake changes the shareholder register, not the regulatory position. Axis Max Life is a private insurer with no government backing, and policyholders are protected by IRDAI’s solvency regime rather than any bank’s balance sheet.
Products Offered
| Category | Axis Max Life Flagship Product | Product UIN |
|---|---|---|
| Term Insurance | Axis Max Life Saral Jeevan Bima | 104N117V02 |
| Axis Max Life Smart Secure Plus Plan | 104N118V13 | |
| Axis Max Life Smart Total Elite Protection Term Plan | 104N125V09 | |
| Axis Max Life Smart Term Plan Plus | 104N132V01 | |
| Endowment & Savings Plan | Axis Max Smart Wealth Advantage Growth Par Plan | 104N135V03 |
| Axis Max Smart Wealth Advantage Guarantee Elite Plan | 104N138V05 | |
| Axis Max Life Smart Wealth Income Plan | 104N120V04 | |
| Axis Max Life Savings Advantage Plan | 104N111V04 | |
| Axis Max Smart Value Income & Benefit Enhancer Plan | 104N159V05 | |
| Axis Max Life Smart Wealth Plan | 104N116V16 | |
| Axis Max Life Online Savings Plan Plus | 104L131V01 | |
| Axis Max Smart Wealth Advantage Guarantee Plan | 104N124V17 | |
| Axis Max Life Smart Fixed-return Digital Plan | 104N123V07 | |
| Unit-Linked Plans (ULIP) | Axis Max Life Flexi Wealth Plus Plan | 104L115V04 |
| Axis Max Life Online Savings Plan – Wealth | 104L098V06 | |
| Axis Max Life Platinum Wealth Plan | 104L133V01 | |
| Axis Max Life Fast Track Super Plan | 104L082V05 | |
| Axis Max Life Flexi Wealth Advantage Plan | 104L121V05 | |
| Axis Max Life Smart Global Investment Fostering Tomorrow Plan | MAXL001V002 | |
| Axis Max Life Smart Term with Additional Returns ULIP | 104L128V01 | |
| Health Insurance Plans | Axis Max Life Secure Earnings & Wellness Advantage Plan | 104N136V03 |
| Pension and Annuity Plan | Axis Max Life Smart Guaranteed Pension Plan | 104N122V25 |
| Axis Max Life Forever Young Pension Plan | 104L075V10 | |
| Axis Max Life Saral Pension Plan | 104N119V04 | |
| Axis Max Life Guaranteed Lifetime Income Plan | 104N076V22 | |
| Axis Max Life Smart Wealth Annuity Guaranteed Pension Plan | 104N137V16 | |
| Axis Max Life Smart Retirement Income with Sustained Earnings Plan | 104N160V01 | |
| Child Plans | Axis Max Life Shiksha Plus Super Plan | 104L084V18 |
| Axis Max Life Online Savings Plan – Child | 104L098V06 | |
| Group Life Insurance | Axis Max Life Group Credit Life Premier | 104N095V03 |
| Axis Max Life Group Saral Suraksha Plan | 104N114V03 | |
| Axis Max Life Group Term Life Platinum Assurance Plan | 104N112V04 | |
| Axis Max Life Smart Group Super Life Premier Plan | 104N088V04 | |
| Axis Max Life Group Gratuity Premier Plan | 104L087V02 | |
| Axis Max Life Smart Group Term Life Insurance Plan | 104N126V01 | |
| Axis Max Life Smart Group Super Life Premier EDLI Plan | 104N088V04 | |
| Axis Max Life Group Smart Health Insurance Plan | 104N129V01 | |
| Axis Max Life Pradhan Mantri Jeevan Jyoti Bima Yojana | 104G089V01 | |
| Axis Max Life Group Credit Life Secure Plan | 104N072V04 | |
| Axis Max Life CARES Plan | 104N130V01 | |
| Riders | Axis Max Life Group Critical Illness Secure (ACCELERATED BENEFIT) Rider | 104B032V03 |
| Axis Max Life Smart Ultra Protect Rider | 104A049V03 | |
| Axis Max Life Critical Illness and Disability Rider | 104B033V03 | |
| Axis Max Life Critical Illness and Disability – Secure Rider | 104A034V02 | |
| Axis Max Life Group Accidental Death Benefit Premier Rider | 104B024V04 | |
| Axis Max Life Group Critical Illness (Additional Benefit) Premier Rider | 104B031V03 | |
| Axis Max Life Group Total and Permanent Disability (Accident) Premier Rider | 104B030V04 | |
| Axis Max Life Term Plus Rider | 104B026V04 | |
| Axis Max Life Accidental Death and Dismemberment Rider | 104B027V05 | |
| Axis Max Life Waiver of Premium Plus Rider | 104B029V06 | |
| Axis Max Life Group Accelerated Terminal Illness Rider | 104B028V03 |
Riders available across several plans include critical illness, accidental death benefit, waiver of premium and terminal illness. Rider availability is plan-specific, not company-wide.
How Axis Max Life Compares
| Parameter | Axis Max Life | HDFC Life | ICICI Prudential Life |
|---|---|---|---|
| Founded | 2000 | 2000 | 2001 (operational) |
| Claim Settlement Ratio [FY 2024-25] | 99.70% | 99.68% | 99.31% |
| Claims Settled by Count [FY 2024-25] | 20165 | 19666 | 12319 |
| Solvency Ratio [FY 2024-25] | 2.01 | 1.94 | 2.12 |
| Primary Distribution | Axis Bank, agency, online | HDFC Bank, agency, online | ICICI Bank, agency, online |
| Product Weighting | Protection-weighted | Protection and ULIP | ULIP-weighted |
| Recent Structural Change | Renamed 2024 | Absorbed Exide Life, 2022 | None |
Verdict:
All three insurers were licensed in the early 2000s and report claim settlement ratios within a narrow band. The Axis Max Life Insurance Company carries a stronger protection weighting than the other two, which makes it worth comparing directly, especially if you are buying term cover, child plans, pension plans, ULIPs or a savings plan rather than a motor or fire insurance plan.
Grievance and Complaints Record
| Measure | Axis Max Life [FY 2024-25] |
|---|---|
| Total Complaints Received | 15.72 per Lakh policies and lives |
| Complaints Resolved | 5,165 |
| Most Common Complaint Category | Mis-selling |
To file a death claim: Intimate through the online portal, a branch or customer care using the policy number, including one issued as Bajaj Allianz Life. Submit the claim form, the original policy document, a death certificate, the claimant’s identity proof and the nominee’s bank details.
If a claim is delayed or declined: Raise a grievance and obtain a reference number, escalate to the grievance redressal officer, then to IRDAI through Bima Bharosa, then to the Insurance Ombudsman.
Note:
A brand transition can generate servicing and communication complaints unrelated to claims handling, and a spike that coincides with 2024 means something different from a sustained trend.
How to Contact Axis Max Life & File a Claim
Disclaimer:
MyRupia is not an insurance intermediary, does not sell insurance policies, and is not affiliated with Axis Max Life Insurance Company Limited.
| Channel | For Indians | For NRIs & Senior Citizens |
|---|---|---|
| Registered Office | Axis Max Life Insurance Ltd., Plot No – 90 C, Sector 18 Udyog Vihar, Gurugram, Haryana Pin Code – 122015 | #107, Business Atrium Centre, 22nd Street, Oud Metha, Dubai, UAE, PO Box 112455 |
| Customer Care Number | 1860 120 5577 (9 AM to 6 PM, Monday to Saturday) | 011-71025900 or 011- 61329950 (NRI – Available 24/7, Monday to Saturday Senior Citizen – 9 AM to 6 PM, Monday to Saturday) |
| service.helpdesk@axismaxlife.com | nri.helpdesk@axismaxlife.com | |
| Website | https://www.axismaxlife.com/ | |
Please note that the old Max Life domain has been configured to redirect visitors to the Axis Max Life Insurance domain.
To File a Death Claim
- Intimate the claim through the online portal, the branch closest to your location or customer care using the policy number, including the policy number issued under the Max Life name (if applicable).
- Submit the claim form, the original policy document, a death certificate, the claimant’s identity proof and the nominee’s bank details.
- Medical or employment records may be requested, more often for claims within the three-year contestability period.
If a Claim is Delayed or Declined
You can raise a grievance with the company’s internal grievance cell and get a reference number. If you do not get a satisfactory resolution, escalate to the Grievance Redressal Officer (GRO), and subsequently to IRDAI through the Bima Bharosa portal.
By the second grievance filing, policyholders can reach out to the Insurance Ombudsman, who can help secure a binding resolution on the claim within 3 months. The current financial limit for complaints entertained by any of the authorised Insurance Ombudsmen is ₹50 Lakh. If a policyholder isn’t satisfied with the Ombudsman’s resolution, they can approach a consumer court.
Frequently Asked Questions
Is Max Life and Axis Max Life the same company?
Max Life and Axis Max Life are the same company. Max Life Insurance was renamed Axis Max Life in 2024 after Axis Bank increased its shareholding. The IRDAI registration, the policy terms and the servicing entity are unchanged. Policies issued under the Max Life name remain fully valid.
What is Axis Max Life's claim settlement ratio?
Axis Max Life reported a claim settlement ratio of 99.70% in FY 2024-25, settling 20165 death claims out of 20225 received. IRDAI publishes the figure in its Annual Report and the Handbook on Indian Insurance Statistics annually. Data for years before 2024 appears under the Max Life name, so a multi-year comparison may need a look at data under both names.
Are my old Max Life policies still valid?
Policies issued by Max Life remain fully valid and are serviced by Axis Max Life on their original terms. A rename does not change policy conditions, premiums or benefits. Use the policy number printed on your original Max Life document when contacting the company or filing a claim.
Is Axis Max Life a government company?
Axis Max Life is a private company with no government shareholding. Axis Bank, a private sector bank, holds a stake alongside Max Financial Services. The company is regulated by IRDAI on the same terms as every other private life insurer and carries no sovereign guarantee.
How do I contact Axis Max Life for a claim?
Intimate a claim through the company’s online portal, a branch or the customer care number, using the policy number on your document, including one issued as Max Life. The company will confirm which claim form applies and which documents are required.
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