Max Life Insurance to settle claims in 10 days

Max Life Insurance today said it would settle all death claims within 10 working days. The life insurer has introduced ‘Claims Guarantee’ for a “hassle-free” death claims process.

The company would pay interest at the rate of 6% per annum if it fails to keep its commitment of paying claims within 10 days of the receipt of documents from the nominee.  

It will pay the account value amount in case of death claims under the unit linked insurance policies within 48 hours of the intimation by the nominee.

It will also pay death claims arising out of the policies that have completed continuous three years from the date of the issuance except in cases of fraud.

“To make the claims process easy and hassle free, the company will also assign a personalized claims relationship officer for each death claim cases,” it said in a statement.