Max New York Life Insurance: Premium Payment Options

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Premium Payment Options

Customers - Policy Renewals Options

You can easily renew your policy with us. This section gives you all the information wherein you can pay your Renewal Premium hassle free with various payment options.

We will send you a premium receipt to your mailing address, irrespective of the payment option you choose.

1	Online Policy Renewal

You can make online payment of premium anytime and from any location at a click of the mouse by using the online payment facility. This facility is currently offered to all the policyholders to make renewal premium payments and revive their policies through our website.

To avail this facility, you have to click on the Premium Payment Options or Pay Online button provided on the top left of the page. Payment options for premium payment include Credit Cards (Master/Visa/Amex/Diner), Cash Cards (ITZ / DONE) and Net Banking.

2	Credit Card Standing Instruction

You can pay your premiums using your credit card (Master/Visa or Amex). In this premium payment mode we will charge the premium amount, when it is due, to your credit card. You simply need to fill up the credit card standing instruction form and send it to us along with the photocopy of the front side of your credit card.

You can submit this form at any of our branch offices or mail it our communication address. You can also hand it over to your advisor or call us at 1800 180 5577 (our toll free number) and we will send you a copy of the credit card standing instruction form.

Please send your Credit Card instruction duly filled up, to the following address:
Max New York Life Insurance Company
Operations Center, Ground Floor
90 A Sector 18, Udyog Vihar
Gurgaon-122015.

Click here to download form for a Credit Card Standing Instruction form

3	Sky Pak Drop Box

Max New York Life has 1402 drop-boxes in India to ensure that you can pay your premium with minimum effort. These drop-boxes are cleared everyday (except for national holidays and Sundays) and sent for clearance the very next day. To find a Drop Box near you, please refer to your recent Billing Notice or call us at 1800 180 5577 - our toll free number.

4	Electronic Clearing System (ECS)

ECS is an automated facility that debits your premium from the bank account as per draw date opted by you.

To avail this facility, we have 68 ECS location to submit the ECS form along with a cancelled cheque 30 days before your policy.

In case of the premium due date falling on a holiday, the premium amount would be deducted on the next working day. Premium payment for ECS locations falling under non-rolling settlement will be debited on the dates given by RBI/Clearing House.

Please verify all the bank details before submitting your ECS mandate form to our branch offices, hand it over to your advisor or the following address: -

POS Non - Payouts
Max New York Life Insurance Company
Operations Center, Ground Floor
Sector – 18, Udyog Vihar
Gurgaon - 122015

Click here to download the ECS Mandate form

Click here to know the list of Locations where the ECS facility is currently available

Click here for FAQs

5	Drop Cheques at any YES Bank Branch or ATM

Max New York Life has tied up with Yes Bank for the Drop Box facility at their Banks and ATMs. The Policy Holders can Drop their cheques at any Yes Bank Branches or ATM Drop Boxes.

To locate Branch Offices / ATMs of Yes Bank, please visit http://yesbank.in/branchnetwork.ph

6	Payments at our branch offices (General Office)

We have a network of Branch Offices. You can find one situated near you by calling us at 1800 180 5577.
You could also pay your premiums using any of the following Premium Payment options at our branch offices:

Cash
Cheque
Credit Card

For all payments made at the branch office, you would receive an acknowledgement.

Bill Desk

You can authorize your premium payments through Electronic Bill Payment with Bill Desk.
Register yourself at Bill Desk and follow the Instructions on their web-site.

8	Techprocess

You can authorize your premium payments through Electronic Bill Payment with Bill Junction.
Register yourself at Bill Junction and follow the Instructions on their web-site.

9	M-Commerce : This premium payment option is temporarily not available till further notice by RBI

You can make your premium payments using a new technique - SMS. This is an option to pay your insurance premiums on a secure and unique platform using GSM mobile phones. MNYL offers this excellent facility to all the policyholders to make renewal premium payments and revive their policies.

Click here to download form for M-Commerce

For list of compatible handsets for this service please log on to -

http://www.mchek.com/mchekclient/handsets

10	i-Pay Electronic Drop Box

i-Pay Electronic Drop Box is a compact self service premium option. The i-Pay Electronic Drop Box with state of the art functionality provides Instant Acknowledgement to customer.

Click here to download i-Pay Electronic Drop Box location list

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