Max Life Insurance

NEVER GO INVEST WITH MAX LIFE INSURANCE COMPANY I am writing this with a heavy heart, deep distress, and immense emotional pain. I am a policyholder of Max Life Insurance, and I had taken a policy on 7th November 2012, based on the guidance and explanation provided by their advisor.

At the time of joining, I was clearly informed by the advisor that I would need to pay a premium of approximately ₹;9, 800 per annum minimum for 5 years, and after that, I could withdraw the entire accumulated amount whenever I needed, without any further payments. Trusting this assurance and the credibility of Max Life Insurance, I began my policy.

However, to be sincere and honest in fulfilling my financial commitments, I have consistently paid the premiums for the last 13 yearswithout missing a single due date. Even though I was told I only had to pay for 5 years, I continued paying in good faith, assuming it would only increase the maturity value for my familys future.

But life took a different turn. Two years ago, I lost my job, and since then, I have been struggling emotionally and financially. I have two childrenmy daughter is pursuing her college education, and my son is in Class 11. With no stable income and growing household expenses, I reached out to the Max Life Insurance Anna Nagar branch, Chennai seeking to withdraw the policy amount I had been contributing to with so much dedication over the years.

To my absolute shock and disbelief, I only received ₹;62, 000 out of the total ₹;1, 27, 000 that I have paid so far. I am heartbroken, angry, and feeling completely helpless. This policy was my only hope during this extremely difficult phase of life, and now I feel utterly cheated and deceived.

I have been mentally disturbed and emotionally drained ever since. The financial burden, especially with two growing children and no stable income, has been overwhelming. The anxiety and depression caused by this situation are affecting my health and well-being. If anything happens to me because of this stress, the emotional and financial damage caused by this insurance policy misrepresentation will be a direct reason.

Your Axis Max Life Insurance Investment Plan equote number is 2346EIAG. Executive name Kapil

I received 19 telemarketing calls on 2nd August from your agent Kapil, who pushed me to make immediate payment for a child insurance plan, promising quick policy issuance.

After payment, there has been zero follow-up and multiple pending actions from your end.

This experience feels like misleading sales and lack of after-sales accountability.

If I dont receive a proper update and refund within 3 days, I will escalate this issue across social platforms, consumer complaint forums, and IRDA

Why there is no score card or tracking system while refund it happens only with customer they are suffering @IRDA please look into it

They have tie up with worst diagnostic centre. They gave me nicotine positive but I never consumed tobacco.

I got worried and tested in 2more labs outside and both results came to be negative.

Earlier they said they will consider the tests if they come negative but after they came negative they started telling that they wanted to get the different tests not the one that I am supposed to take.

They are big frauds, they don't even respond to any of your mails just to play the safe game.

Go for HDFC even if the premium is lil more, they have less complaints and better service.

Agents telling lies while explaining. For closing their target simply telling lies and rush us to complete the process without explaining and not give us a time to read. So take your time before start

Pls DO NOT buy anything at all from them

They will CONTINUOUSLY SPAM you over the phone

They just don't stop despite requests.

WORST experience of all

Max Life Savings Advantage Plan is one of the worst plan poorer than banks saving account, here you invest 52000 yearly i.e. around 2.5 L you invest and after waiting for 10 years they give you 1.95 L sum assured+ few additional bonuses of 10k every year for 5 years i.e. they take 2.5 L from you and after 10 years return only 2.4 L to you, I am victim of this plan, please do not fall into trap of Max life insurance any kind of endowment plan, better do FD or invest in government bond or PPF, They just ruined my 10 years of hard earned money.

Policy maturity 29jun25....no communication..no payout...no answers to numerous mails..finally after email to chairman part payment on 8th July....no idea why amount deducted as no statements shared....no one even bothered to call...still following up....even agent helpless....customer for over 23 years.....be careful

Do not rely on insurance from this company. Their agents are fraud people they will fool you into transferring your insurance funds from one policy to other and you will ultimately loose all your insurance money as charges. You will not be able to pay the high premiums and your policy will be deactivated. They will forge your signatures and provide forged proof of acceptance The company does not help you at all.

I rarely write reviews, but my experience with Axis Max Life Insurance was so frustrating and unprofessional that I felt compelled to warn others.

From the very beginning, the process was riddled with confusion and misleading information. The agent oversold the policy by promising returns and benefits that turned out to be completely unrealistic. After paying premiums for over a year, I realized the policy had hidden charges and clauses that were never explained.

Customer service is a joke long wait times, clueless representatives, and zero accountability. Every time I called to clarify something, I was either passed around or given vague answers. They dont respond to emails, and follow-ups are non-existent.

The online portal is outdated and barely functional. Trying to track your policy details or make updates is a nightmare. Even basic tasks like downloading a statement felt like an obstacle course.

Worst of all, when I tried to surrender the policy, the settlement process dragged on for weeks. I received barely half of what I paid, with no proper explanation of the deductions.

Axis Max Life feels more like a trap than a financial service provider. I strongly advise anyone considering them to think twice. There are far better and more transparent insurance companies out there. Dont learn the hard way like I did.

Would you like this tailored to a specific issue(e.g., claim rejection, surrender trouble, mis-selling, etc.) or written in a more professional/legal tone?

I have been Maxlife customer for over 6 years. They sold me policies with false promises which are not documented in policy documents. For several years, I have been reaching out to customer support and their local branch to follow up on my issues. They have been neglecting my communications and provide me general response to send me back home if I visit their office in person. Their staff acts as if they they are clueless. Agent who sold me policies is clueless as well because he is not receiving response from company.

In past two years, they modified my policy documents without informing me. I am getting no response from company when I demanded explanation.

I feel Maxlife is a scam. Only thing they do professionally is to collect yearly premium.

I took 1 crore policy from Axis Max life insurance.

I have asked for assignment of policy , they first agreed and asked me to send request on blan paper , I have sent. Later they asked conditional assignment form I have sent. After deducting second installment they told me that policy can't be assigned you may take legal action.

Helplessly, I asked them to cancel policy. they were saying ur policy can't be assigned and can't be cancelled.

Hopefully it was under freelook period I asked them to cancel it.they have cancelled the policy with without any refund.

Axis Max life staff is not qualified every

I had bad experience with Max Life Insurance( All the time changing name) Present Axis Max Life Insurance

I have taken a term policy on my son name, Visited by 2 Rep. Of Axis Max Life Insurance Punjagutta Branch Hyderabad.

I Have paid Amount on 20th April-2025 till today(22/5/2025)

They have Medical Test and taken documents of income tax.

1) No response to phone calls

2) no Information recd from call center also

on 22/5/2025 they are saying it is under verification still

I Advice Before taking any policy thing now it is like this while any claims how it will be .

Every 2 Month they will as I am manger for your policy today also I have recd same

My experience with Max Life Insurance has been nothing but frustrating. I opted for a policy with high hopes, but from day one, things have been a hassle. First, the process of buying the insurance was smooth, but when I needed assistance with any queries, the customer service was shockingly unresponsive. I have called multiple times to get clarification on my policy details and claims process, but every time, I was either put on hold for long periods or received vague responses with no real solutions.

The claims process is even worse. When I had to file a claim, the entire procedure was delayed unnecessarily. It felt like they were trying to find ways to avoid paying out. The paperwork was endless, and the lack of transparency made the entire process even more stressful. Despite fulfilling all the necessary conditions, my claim was delayed for months without any clear explanation.

In addition to this, the online portal is outdated and difficult to navigate. I could never access my policy details without facing technical issues. I would have expected much better service from such a well-known insurance provider, but sadly, Max Life has been a huge letdown. It’s been a constant struggle, and I regret choosing them. I would definitely not recommend Max Life Insurance to anyone who values reliability and good customer service.

Customer service is not proper and during the policy they will inform 2CR and 3 CR but we won't get the amount what we paid also .

This is big trap

They are not running an insurance company but are thugs and take your premium and disappear. Do not fulfill claims. Have all kinds of contacts with other small companies where they get false reports made and treat customers like crap. Consider any premium payed here lost with no chance of recovery.

This is the worst insurance company Ive ever dealt with. When starting the policy, they made several misleading promises. In the end, the surrender value is only 25% of the total premium I paidmeaning I lose 75% of my money, with no interest to show for it

The post-sales experience has been extremely frustrating. What’s worse is that the same documents are asked again and again with no clarity on what's wrong with the previous ones. It feels like no one is reviewing submissions properly, and the customer is left to guess what needs to be done.

There’s zero coordination between teams, no accountability, and absolutely no sense of a structured onboarding process. As a customer, I felt helpless and harassed. After days of chasing, I’ve finally had to ask for cancellation and refund.

Max Life really needs to improve its backend operations. A good sales pitch means nothing if you can’t support your customers after they’ve paid. Would not recommend based on my experience.

It gives the worst returns, hardly 2-3%, and when you try to surrender the policy, you get zero amount

After debit of double premium, for refund our own money taken 45 days, this is the service of big insurance company

It was an eye opening about maxlife insurance company I humbly request all the investors to please at least do not invest your hard earned money in this company because this company is one of the most worst with no proper processing methods while investing they talk to much but while giving the claim amount they will rob your maximum money by saying that market is down.This is one of the most beautiful bullshit and false speaking company. Please do not trust this company under the brand advertising done by Rohit Sharma itis a fraud company please do not invest your money