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Buying Insurance Online – Process-oriented FAQs 1

Documents and Related Questions 3

NRI Customers – Related Question(s) 5

Medical Appointment & Reports – Related Questions 6

Application Decisions – Various Terms and Questions 7

Cancellation and Refund – Related Questions 9

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 Documents and Related Questions
Q - What are the Valid Address/ID Proof Documents?
You can upload one of the following documents:
1. Valid Passport (Front and back pages) for Address/ID Proof
2. Aadhaar Card (Front and back pages) for Address/ID Proof
3. Voter ID (Front and back pages) for Address/ID Proof
4. Driver's License (Front and back pages) for Address/ID Proof
5. Letter from UIDAI or National Population Register (NPR) containing details like name,
address, and Aadhaar number.
6. Proof of Aadhaar Number: This includes a physical copy of e-Aadhaar, masked Aadhaar,
Offline Aadhaar XML, or other formats as decided by UIDAI.

For domestic customers, you may also use one of the following:
1. Utility Bill: Not more than two months old (e.g., electricity, telephone, post-paid mobile
phone, piped gas, water bill).
2. Property or Municipal Tax Receipt.
3. Bank or Post Office Savings Account Statement.
4. Pension/Family Pension Payment Orders (PPOs): Issued by Government Departments or
Public Sector Undertakings, if they include the address.
5. Letter of Allotment of Accommodation: From an employer, issued by State or Central
Government departments, statutory or regulatory bodies, public sector undertakings,
scheduled commercial banks, financial institutions, or listed companies. This includes leave
and license agreements for official accommodation.
6. Rental Agreement: On notarized stamp paper.

*These documents are considered Officially Valid Documents (OVDs). You must submit an
approved OVD within three months.

If your address proof does not include a complete pin code, you will need to submit a declaration.
For NRI customers, a passport (front and back pages) is mandatory, and additional international
address proof may be required.

Q - What are the Valid Documents for Age Proof?

You can upload one of the following documents to prove your age:
1. Aadhaar Card (Both front and back pages)
2. Passport (Both front and back pages)
3. Driver's License (Both front and back pages)
4. PAN Card
5. Birth Certificate
6. State or Central Government Employee ID (including defense cards)
7. Bar Council ID Card
8. Election Commission ID Card
9. School Leaving Certificate (10th or 12th grade)

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Q - What are the Valid Documents for Income Proof?

For Salaried customers: You can provide one of the following:

You can provide one of the following:

1. Latest 1-Year Form 16: Both Part A and Part B required.

2. Latest 6 Months’ Bank Statement showing salary credit. (Acceptable formats: PDF, JPEG,
JPG. Excel and Word formats are not accepted.)
3. Latest 3 Months’ Salary Slip along with the latest 3 months’ bank statement showing
salary credit. (Acceptable formats: PDF, JPEG, JPG. Excel and Word formats are not
accepted.)
4. Latest 1-Year ITR: All pages, including Computation of Income (COI) with salary from the
organization, are required. (Acceptable formats: PDF, JPEG, JPG. Excel and Word formats
are not accepted.)
5. For Freshers/Recent Job Changers: Appointment letter along with the latest month’s
salary slip.

For Self Employed customers: (Any one of the below mentioned options)
You can provide one of the following:

1. Latest 2 Assessment Years’ ITR: All pages required, including Computation of Income
(COI). (Acceptable formats: PDF, JPEG, JPG. Excel and Word formats are not accepted.)
2. Audited Business Accounts for the last 3 years, including shareholding patterns and/or
partnership deed. (Unearned income not to be considered.) Also, include Partnership
Deed/Proprietorship, Registration of Business, Profit & Loss statement, and Balance
Sheet

For Housewives : (Any one of the below mentioned options)

You can provide one of the following:

1. Husband’s Income Proof: Based on the occupation.

2. Other Accepted Documents (Income Surrogates):

a. Latest 6 months’ savings bank account statement (self-attested).

b. SIP statement of the last 12 months (in the name of the housewife).
c. Last 6 months’ credit card statement showing credit limit (Only a singlecredit
card statement in housewife’s name is allowed).
d. Home loan repayment statement of the last 12 months, along with a bank
statement showing debits for the same period. (Ownership paper should be in the
name of the housewife and the property should not be co-owned.)
e. Latest Insured Declared Value (IDV) of the car (Car should be in the name of the
housewife).
f. Policy document of the husband’s term insurance policy.

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Q - - Is Aadhaar Card an Accepted Proof of Document?
A - Yes, the Aadhaar card is an accepted document for both identity and address proof. However,
Please note – it is not a valid age proof anymore.

Q - How do I Send the Documents?

A - You can upload the documents directly on our website during your purchase journey.
Alternatively, visit
https://www.maxlifeinsurance.com/campaign-pages/continue-your-journey.html?pageType=
equote, send a message saying "Hi" on WhatsApp to +91-74283 96005 and select the ‘Upload
Doc’ option, or email them to [email protected] with your policy number
mentioned in the subject line.

Q -Is it Mandatory to Share PAN?

A - Yes, it is mandatory to share your PAN.

NRI Customers – Related Question(s)

Q - What are the Documents Required to Process the Application of
an NRI?

The following documents are required for NRI customers:

KYC Documents: This includes a photo, age proof, ID proof, address proof, and income
proof (if applicable).
FATCA Form: This is a mandatory document that must be filled out and submitted.
NRI Questionnaire: This mandatory questionnaire needs to be completed and submitted.
Passport along with latest entry stamp to India is also required.

These requirements apply to both cases, with GST and without GST.

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 Medical Appointment & Reports – Related Questions
Q - - What are the Medical Tests Needed for Term Insurance?
A - The specific medical tests required for term insurance depend on the product, age, and sum
assured selected. However, common medical tests may include:
1. Blood pressure
2. Blood cholesterol levels (Lipid profile)
3. Blood glucose levels
4. Body Mass Index (BMI) measurement
5. Routine Urine Analysis (RUA)
6. Electrocardiogram (ECG)
7. Liver function test (LFT)
8. Complete blood count (CBC)
9. Chest X-ray
10. Ultrasonography (USG)

Q - What is a Telemedical Examination for Term Insurance?

A - With advancements in technology, video calls and phone calls are increasingly used for
medical check-ups of life insurance applicants.
In a telemedical examination, a doctor may conduct a video call with the life insured, asking
relevant medical questions during the call. This allows the doctor to visually assess the life insured
and check for any visible physical conditions.

Q - What are the Do’s and Don'ts for a Telemedical Examination?

A - Here are some key points to remember for a telemedical examination:

Do’s Don’ts

Respond to all of the doctor’s questions Avoid concealing any significant health
with honesty. information or being dishonest.
Share any past health issues you’ve Don’t rush through the call; take your
experienced. time to provide accurate information.
If you’re unsure about a question, let the
doctor know.
Provide clear and detailed answers to
ensure the doctor understands you.

Q - Do We Need to Submit the Medical History or Records while Buying a

Term Plan?
A - If you have any previous medical history or ailments that you suffered in the past, you have to
disclose the same in the proposal form. However, previous records might not be required. Instead,
we might ask you to fill out a separate questionnaire or undergo a medical check-up.

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 Application Decisions – Various Terms and Questions
Q - Define Accepted, Counter Offer, Postponed, and Declined.
A - Your application may result in one of these outcomes:

Decision Your Application Status Post Assessment

Application Accepted The application being accepted and the policy being issued

Changes in terms, which might affect the risk cover and/or

Counter-Offer premium. You will receive an email with details about the
revised offer and the reasons for the changes.

We are currently unable to process your insurance

application based on the assessment. It has been put on
Application Postponed
hold for a certain period and can be reviewed later.
You will receive a detailed communication regarding this.

We cannot process your insurance application based on the

Application Declined current assessment. You will receive detailed information
about this decision.

Q - What is a Revised or Counter-offer, and Why do I Have it in My

Application?
A - The initial life insurance premium quote is based on the assumption that you have standard
health and living conditions. After you submit your application, we will review:

Your medical history and any medical tests or video exams done by the company
Risks related to where you live
Risks related to your job
Your financial situation

If needed, we may make a counter-offer, which usually means a higher premium. We might also
offer a lower coverage for the same premium or set a limit on the coverage we can provide. You
can choose to accept or decline this counter-offer or revised offer.

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Q - How can I Pay the Revised Offer (or counter-offer) premium?
A -After you accept the revised offer on the online insurance portal, you need to pay the
additional premium online. You can choose from the available online payment options to complete
the payment.

Q - How can I Get my Medical Reports?

A - Medical reports are available on the ‘My Account’ portal on our website,
https://www.maxlifeinsurance.com/cs/login, after your policy is issued. Once the policy is issued,
a copy of the reports will also be sent to your registered email address.

Q - What are the Options to Reduce Sum Assured/adjust the premium if the Rate
of Premium is Very High?
A - If the premium rate is too high, you can consider the following options to reduce or
adjust the sum assured or premium:
1. Adjust the sum assured to match the paid premium amount.
2. Remove any additional riders to lower the premium.
3. Change the payment frequency or policy term (such as the policy term or premium paying term).

Q - What is the Next Step if I do not Accept the Revised Offer (or
Counter Offer)?
A - If you do not wish to accept the revised offer or counter-offer, you can reject it by visiting our
customer portal at https://www.maxlifeinsurance.com/cs/login. Select the ‘reject’ option next to
the counter-offer.

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 Cancellation and Refund – Related Questions
Q - What is the Procedure for Application Cancellation?
A - If you want to cancel your application, please call us at 0124 648 8900 between 9:00 am and
9:00 pm (all days) from your registered contact number, or email us at
[email protected] with your cancellation request and the reason for it.

Q - Will I Get a Complete Refund of the Premium Paid?

A - A refund will be processed after deducting any applicable charges (if any).

Q - When will I Get My Refund?

A - You can expect your refund within 15 days from the date of application cancellation.

Q - Are Additional Documents Needed for a Refund?

A - Refunds are processed online and will be credited to the same account used for payment. In
some cases, you may need to submit an NEFT mandate along with a personalized canceled cheque
or a bank statement showing your name, account number, and IFSC code.

Q - Is there any Cancellation Charge?

A - There are no cancellation charges. However, if medical tests were conducted, the associated
charges will be deducted.

Q - Why is my Refund Delayed?

A - Refunds typically take up to 7 days to process from the date of policy cancellation.
If you haven't received your refund within this time, please check your registered email for any
requests for additional documents, such as an NEFT mandate or a canceled cheque.

If you need further assistance, call us at 0124 648 8900 between 9:00 am and 9:00 pm (all days)
from your registered number, or email us at [email protected].

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