LIFE INSURANCE: Protection from Max Life Insurance Max Life being the most admired life insurance company committed to serving customers through long-term savings, protection and retirement solutions coupled with strong social relevance by securing their customers’ financial future. Life insurance is a contract under which the insurer (Insurance Company) in consideration of a premium paid undertakes to pay a fixed sum of money on the death of the insured or on the expiry of a specified period of time whichever is earlier. In case of life insurance, the payment for life insurance policy is certain. The event insured against is sure to happen only the time of its happening is not known. So life insurance is known as 'Life Assurance'.