Max Life Insurance partners with PhonePe to provide financial protection to consumers

Max Life Insurance Co. Ltd has announced the launch of Max Life Smart Secure Plus Plan, an untied, non-participating pure risk premium individual life insurance plan on the PhonePe app to enhance financial protection for savvy customers by digital matter.

With this, PhonePe customers can enjoy full financial coverage for their families with premiums starting as low as 4,426 per year. With a streamlined digital customer journey, the term plan can be purchased on the PhonePe app without hassle or excessive paperwork, a MaxLife press release said.

Customers have the option of choosing a sum insured up to 10 crore and can view their renewed policies on the PhonePe app. In the life insurance category, Max Life will offer PhonePe customers an integrated terminal illness benefit and a special exit option.

V. Viswanand, Deputy Managing Director of Max Life, said: “We are committed to simplifying the entire customer journey, from buying life insurance to settling a claim seamlessly in the age of digital. Through this partnership with PhonePe, we are confident to create a solid distribution channel for digitally savvy customers and expand the adoption of term plans and financial protection.”

PhonePe, a digital payment platform, has obtained a direct brokerage license from IRDAI which allows the sale of insurance on their app.

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