INTRODUCTION

Max Life Insurance Company, established in 2000, is one of the most admired
private insurance companies in India. Max Life Insurance Ltd is a joint venture
between Max India Ltd, and Indian Multi-business corporate and Mitsui Sumitomo
Insurance Co. Ltd, a member of MS and AD Insurance Group, a general insurer.
The Company has started its commercial operations in 2001.

Max Life Insurance Company Ltd offers comprehensive Life Insurance and
retirement solutions for long term savings and protections to more than 30 lakhs
customers. Mr.Rajesh sud is the Chief Executive Officer and managing director of
Max Life Insurance.

Max Life Insurance was ranked fourth among private life insurance companies
with a market shares of 10.3% in the financial year 2013-14. For the same financial
year, the company has been one of the fastest growing life insurance companies
with Gross Return Premium of Rs.7,279 crores.

As on 31 March 2014, Max New York Life Insurance had assets under
management of Rs.24,716 crores. The company won the trophy for Best
underwriting initiative of the year in the Asia Banking, Financial Services and
Insurance Excellence Awards.

In line with its values of financial responsibilities, Max New York has adopted
prudent financial practises to ensure safety of policy holders funds. The
companies Paid Up Capital is Rs.587 crore, which is more than the norm laid down
by Insurance Regulatory Development Authority (IRDA).

Customers to Max New Life offer a suite of flexible products. It now has 22 life
insurance products and 8 riders that can be customized to over 400 combinations
enabling choose the policy that best fits their needs.

Max New York Life is the first life insurance company in India to be awarded the
ISO 9001:2000 certifications.
Max New York Life was among the top 25 companies to work with in India,
according to 2003 business World magazine, Great Workplaces In India, Max
New York Life was ranked at the 20th position. The survey is the local version of
the Great Places to Work survey carried out every year in 22 countries.

MNYL is among the top five respected private life insurance companies in India
according to a 2004 Business World survey.

MNYL has truly built an enviable sales force. With 201 agents becoming members
of the MDRT in 2005, Max New York Life has moved up in the Top 50 MDRT
global list.
IMPORTANCE OF MAX LIFE INSURANCE
Life insurance is a financial instrument that can help your family reduce their
financial burden in case you are no longer there. It empowers them to not only
continue their current lifestyle but also attain the goals and milestone you planned
together.

Your dependents (nominee) will receive a lump sum or monthly income in case of
your demise during the policy period. While nothing can relieve the emotional loss,
financial security can enable your family to mitigate the liabilities and continue the
comfortable life that you provided for them.

Apart from term plans, most insurance policies double up as a systematic savings
& protection plans. Based on your specific needs and goals, you can choose from
among the various protection wealth creation and long term retirement plans
available.

Some insurance policies offer flexible market linked growth plans where you can
choose the nature of the fund in which you money would be invested. From highly
aggressive to extremely conservative, you can choose a fund that meets your
financial risk appetite.

OBJECTIVES
1. To review the History and Development of Max Life Insurance Terms and
Policies.
2. To know about Max Life Insurance Policies and to focus on the growth of
Max Life Insurance Co.
3. To study the benefits and problems of Max Life Insurance Policies.
4. To determine the functional analysis of the Max Life Insurance Co.
5. To know about Life Insurance, its benefits and needs.
LIMITATIONS
1. Financial constraints-
Insufficient fund tends to impede the efficiency of the researcher in sourcing
for the relevant materials, literature or information and in the process of data
collection (internet, questionnaire and interview).
2. Time constraint-
The researcher will simultaneously engage in this study with other academic
work. This consequently will cut down on the time devoted for the research
work.

RESEARCH METHODOLOGY
Research is an art of scientific and systematic search of pertinent information on a
specific topic. In fact research is an art of scientific investigation.

Research Design

Research type applied over here is Exploratory Research because the main purpose
of such studies is that of formulating a problem for more precise investigation the
working hypothesis from an operational point of view. The major emphasis in such
studies is on the discovery of ideas and insights.

Data Collection Method

The task of data collection begins after a research problem has been defined and
research design/plan chalked out. There are two types of data collection

Primary Data
Secondary Data

Primary Data

Primary data arte those which are collected afresh for the first time, and thus
happen to be original in character.

Secondary Data
Secondary data are those have already been collected by someone else and which
have already been passed through the statistical process.

For the purpose of our study I have used both primary data and secondary data.
This method of data collection is quite popular, particularly in case of big
enquiries, as the customer himself/herself becomes an advisors so his/her point of
view is must this can be obtained only with primary data. In secondary data I have
used internet, broachers of the company, companys websites magazines,
newspaper. Reports and publications of various associations connected with
industry.

Sample Area & Size

The area of sampling is Delhi & Ghaziabad. The sample size is 100 which include
the Agents & Advisors of Max New York Life Insurance Company.