Max Life enables UPI Autopay for seamless premium payments

NEW DELHI: Max Life Insurance Company Ltd. has enabled UPI AUTOPAY for its customers for seamless and secure premium payments. Customers visiting the Max Life website for new purchases or renewal payments can now use the UPI payment option and set up standing instructions for future payments through UPI AUTOPAY, according to a press release.

Manu Lavanya, director and chief operations officer, Max Life, said, “Over the past years, we have enabled simplified digital premium payment capability as a means of effective customer self-service. The UPI AUTOPAY enablement adds another pivot to the Customer Obsession commitment by Max Life where customers can now make instant premium payments that are safe and secure under UPI’s robust framework."

The feature allows customers to enable automatic payments via UPI apps while offering easy setup of future automatic payments via preferred frequencies – one-time, monthly, quarterly, half-yearly, or annually. This will save policyholders’ time and will help reduce the risk of premium non-payment.

How the feature works:

The customers logging onto the payments page for buying new or existing policies need to select UPI as the payment option. Thereafter, on clicking Pay Now, a UPI dialogue box opens where customers can either login to UPI enabled app using their registered login. Here, one can use saved UPI IDs for payment and standing instructions set up; or select a new UPI payment option, manually enter the UPI ID to pay, and may also set up standing instructions.

After the payment, customers are redirected to the ‘Thank You’ screen, and the transaction number is generated for the record.