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Max Life Insurance partners PhonePe to offer financial protection to consumers

Customers have the flexibility to choose a sum assured up to  ₹10 crore and can have their policies renewed on the PhonePe app. Bloomberg
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Max Life Insurance Co. Ltd has announced the launch of Max Life Smart Secure Plus Plan, a non-linked non-participating individual pure risk premium life insurance plan on the PhonePe app to enhance financial protection for digitally-savvy customers.

With this, PhonePe customers can avail comprehensive financial coverage for their families with premiums starting as low as 4,426 annually. Through a simplified digital customer journey, the term plan can be purchased on the PhonePe app without any hassle or excessive paperwork, said a MaxLife press release.

Customers have the flexibility to choose a sum assured up to 10 crore and can have their policies renewed on the PhonePe app. Under the life insurance category, Max Life will offer PhonePe customers inbuilt terminal illness benefit and special exit option.

V. Viswanand, deputy managing director, Max Life said, “We are committed to simplifying the entire customer life journey from buying life insurance to settling a claim seamlessly in the digital era. With this partnership with PhonePe, we are confident of creating a robust distribution channel for digitally-savvy customers and expanding the uptake of term plans and financial protection”.

PhonePe, a digital payments platform, has been granted a direct broking license by IRDAI that allows the selling of insurance on their app.

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