Max Life Insurance Company Limited (formerly known as Max New York Life Insurance Company Limited) is an Indian

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

company headquartered at

New Delhi New Delhi (, , ''Naī Dillī'') is the capital of India and a part of the National Capital Territory of Delhi (NCT). New Delhi is the seat of all three branches of the government of India, hosting the Rashtrapati Bhavan, Parliament House ...

, and the largest non-bank private-sector life insurer in India. It is a 80:20

joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to acces ...

between Max Financial Services and

Axis Bank Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs and retail businesses. As ...

. The company is a subsidiary of the publicly-listed Max Financial Services. It was founded in 2000 after the liberalization of the insurance sector in India and its operations began in 2001. Max Life Insurance is a part of

Max Group Max Group is an Indian conglomerate headquartered in New Delhi, operating in the fields of life insurance, healthcare, hospitality, real estate and independent senior living. It was founded in 1985 by Analjit Singh. Max Group companies includ ...

History

Max Life Insurance started as a joint venture between Max Financial Services and

Mitsui Sumitomo Insurance Group is a Japanese insurance holding company headquartered in Tokyo, Japan. MSIG was formed in 2001 from the merger of Mitsui Marine & Fire Insurance Co. (itself descended from the Taishō Marine and Fire Insurance Co. founded in 1918) and The Sumi ...

. The former owned 68% of the company while the latter owned 26%. After forming the joint venture partnership with Mitsui Sumitomo, Max Life changed its name from Max New York Life in 2012. In February 2016,

held a 6% share in Max Life.

Products and services

Max Life sells policies on both online and offline channels. Its distribution channels include

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s, individual agents, brokers, and corporate agents, among others. It provides linked, participating and non-participating products. Apart from life coverage, it also covers health,

pension A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...

, and

annuity In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, ...

. It offers child protection, retirement, savings, and growth plans to individuals and to groups.

Advertising campaigns

Max Life Insurance has carried out several advertising campaigns. A few prominent are: * Second Chance – Launched in January 2015. The campaign had two videos where people spoke about how life gave them a second chance. The campaign was created to spread awareness about the importance of protection through life insurance. * Sachchi Advice – Launched in August 2015 through the TVC medium, the campaign aimed to highlight the company's focus on providing transparent advice to all of its customers.

References

External links

* {{Insurance in India Financial services companies established in 2000 Life insurance companies of India Max Group Indian companies established in 2000 Companies based in Delhi 2000 establishments in Delhi