Making an effort towards providing the best services during covid times, Max Life Insurance has introduced ‘Buy Now – Pay at Approval’ feature for the customer while purchasing online policies. In its continuous endeavor to strengthen customer trust, the feature that is available for policies bought online, allows customers to apply for a policy with the proposal form and a payment instruction through a digital payment method, without the actual deduction of money until the proposal is evaluated by the insurer. The actual premium deduction happens just before the policy issuance.
The feature ensures that the customer does not need to make any payment at the time of applying for the life insurance policy and the charge to the customer’s credit card happens only at the time of the insurer accepting the risk.
Reviewing data for online term sales of Max Life, it has been observed that nearly 8% of