Updated October 17, 2026 · AssureCue Editorial Team
Income Insurance vs Max Life Insurance
Income Insurance vs Max Life Insurance: the differences
| Compare |  Income Insurance |  Max Life Insurance |
|---|---|---|
| Premium from | SGD 0.60 | ₹461 |
| Insurance types | Auto, Home, Life, Health, Travel, Pet, Motorcycle | Life, Health, Critical illness |
| Cover limit | S$8,500 - S$27,000 maximum annual coverage per policy year (Happy Tails Pet Insurance) | Rs 5 crore sum assured |
| Claims channels | Phone, Email, Online form, Mobile app, Customer portal | Online portal, Email, Whatsapp, Branch |
| Age range | Pet insured must be at least 16 weeks old and below 9 years old at policy start | 18 years and above |
| Monthly payments | Not confirmed | Yes |
| Excess from | SGD 250 | Not confirmed |
Same on both: Provider type (Insurer).
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Key differences
- Income Insurance scores higher overall: 9.4 vs 9.3.
- Founded is lower at Income Insurance: 1970 vs 2000.
- Insurance types: only Income Insurance offers Auto, Home, Travel.
- Insurance types: only Max Life Insurance offers Critical illness.
- Claims channels: only Income Insurance offers Phone, Online form, Mobile app.
- Claims channels: only Max Life Insurance offers Online portal, Whatsapp, Branch.
- Audience: only Max Life Insurance offers Expats.
Our verdict on each
Income Insurance
Income Insurance suits anyone who wants a single insurer to hold several personal policies from a company based in Singapore, and it scores 5.6 here. On entry price it ranks 24 of 252 brands, so get a quote on your own details before committing to any plan.
Max Life Insurance
Axis Max Life Insurance Limited is the name now used for Max Life Insurance Company, and the company identifies Max Financial Services and Axis Bank as its joint-venture partners. It describes its offering as protection and long-term savings life insurance, distributed through agency and third-party channels. These details explain the insurer’s stated identity and product...
Score breakdown
| Area | Income Insurance | Max Life Insurance |
|---|---|---|
| Cost | 9.1Premiums from SGD 0.60 sit below the site median of €8.37, while the pet excess starts at SGD 250. | 9.2Higher |
| Offer | 9.6Higher | 9.2 |
| Trust | 9.5Higher | 9.3 |
Feature by feature
| Insurance types | Income Insurance | Max Life Insurance |
|---|---|---|
| Auto | Yes | No |
| Home | Yes | No |
| Life | Yes | Yes |
| Health | Yes | Yes |
| Travel | Yes | No |
| Pet | Yes | No |
| Motorcycle | Yes | No |
| Critical illness | No | Yes |
How they place
| Ranking | Income Insurance | Max Life Insurance |
|---|---|---|
| Life insurance | 6 of 263 | 8 of 263 |
| Health insurance | 7 of 216 | 10 of 216 |
Where each is licensed and available
| Country | Income Insurance | Max Life Insurance |
|---|---|---|
| India | Not confirmed | IRDAI (Insurance Regulatory and Development Authority of India) 104 (ARN/Web/13122024) |
Additional countries for Income Insurance: 1. Additional countries for Max Life Insurance: 1.
Where these facts come from
Income Insurance
- income.com.sg: 12 facts, checked September 26, 2026
Max Life Insurance
- axismaxlife.com: 11 facts, checked September 26, 2026
- maxlifeinsurance.com: 2 facts, checked September 26, 2026
Every fact side by side
| Fact | Income Insurance | Max Life Insurance |
|---|---|---|
| Audience | Seniors | Expats, SeniorsCovers more |
| Pricing model | Not confirmed | Monthly |
| Legal entity | Income Insurance Limited | Axis Max Life Insurance Limited (formerly Max Life Insurance Company Limited) |
| Headquarters | Singapore | India |
| Founded | 1970Lower | 2000 |
| Support channels | Phone, Email, Help centre | Email, Phone, Help centre |
Business insurance
| Fact | Income Insurance | Max Life Insurance |
|---|---|---|
| Cover types | Professional indemnity | Not confirmed |
Pros and cons
Income Insurance
Pros
- A single insurer for the lot: auto, home and life and professional indemnity can sit with the same company, so personal and trade policies need not be split across providers.
- Claim handling runs through phone, email and online form, so you can start a claim by whichever route suits the moment, from a form to a call.
- Support is listed as phone, email and help centre, so a quote or renewal question has a phone line, an inbox and a help centre behind it.
Cons
- The pet excess starts at SGD 250, so a routine claim still leaves that amount with you before the insurer pays anything.
- The pet age range rules older animals out: the pet must be above a minimum age and below a maximum age at the policy start.
- The pet cover limit moves through a fixed annual range under Happy Tails Pet Insurance rather than a single high ceiling, so a costly year at the vet can outrun the policy.
Max Life Insurance
Pros
- The company’s about page clearly links the current Axis Max Life Insurance Limited name with the former Max Life Insurance Company name.
- The provider describes both protection and long-term savings life insurance, with agency and third-party distribution channels.
Cons
- The offer is built around the Indian market
- Some reviewers raise concerns about how policies are handled after purchase
Who each suits
Income Insurance
Who it suits
- Anyone who wants their auto, home and life cover gathered under a single insurer rather than split across providers.
- Seniors, named as an audience on seniors, and households that still want a phone line on phone, email and help centre.
- Pet owners whose animal sits inside the age window and whose yearly vet bills stay under the pet cover limit.
Who should look elsewhere
- Anyone chasing the lowest entry figure on its own: bunq starts at €0, which is the number to weigh before settling on Income Insurance.
- Renters who need contents-only cover, since Good Sam Insurance Agency lists auto, home and renters and that line is missing from auto, home and life.
- Pet owners with older animals or very large veterinary bills, who are better served by a pet-focused insurer than by Income Insurance.
Max Life Insurance
Who it suits
- People in India comparing life insurers by company identity and the provider’s stated protection and long-term savings product scope.
Who should look elsewhere
- Adults under eighteen
- People wanting a single policy type rather than life, health and critical illness cover
Current offers
Income Insurance
Current offer
Discount code
Up to 20% off + 188,000 STAR$ on Domestic Helper Insurance: up to 20% off + 188,000 STAR$
Promo code GDH188 at checkout for qualifying policies purchased via Income Insurance website or My Income app
Source, checked September 26, 2026
Bonus
Up to 8% cashback on first-year premium for Complete Life Secure: up to 8% cashback on first-year premium
Purchase of an eligible Complete Life Secure plan, with Early Critical Secure rider
Source, checked September 26, 2026
Max Life Insurance
Current offer
Discount code
Up to 15% Discount on 1 Cr Term Plan: 15% (Rs 1 Cr term plan at Rs 595/Month, reduced from Rs 700)
Prices valid till 30th September 2026; Axis Max Life Smart Term Plan Plus (UIN 104N132V01)
Source, checked September 26, 2026
Discount code
Female Life Discount on Smart Term Plan Plus: 15% flat discount on premium
Applicable throughout the premium payment term for female life insured
Source, checked September 26, 2026
Discount code
0% GST on term insurance plans bought online: 0% GST (18% shown struck through)
On term plans purchased online; 18% GST shown struck through on the product page
Source, checked September 26, 2026
Country by country
| Country | Income Insurance | Max Life Insurance |
|---|---|---|
| India | No | Yes |
| Singapore | Yes | No |
Questions about each
Income Insurance
How much does cover start at?+
Premiums begin at SGD 0.60. That is the entry figure across Income Insurance products and a starting point rather than a quote for your own situation. The cover you pick and the details you give shape the price you are offered, so read it as the entry point of the range, not the amount you are likely to pay.
Is there an excess to pay on a claim?+
On Happy Tails Pet Insurance, the excess starts at SGD 250. The excess is the part of a claim you cover yourself before the insurer pays the rest. A lower excess is gentler on a routine vet visit, while a higher starting excess keeps the premium smaller. Picture a normal appointment and check that the amount you would pay alone still feels comfortable.
Max Life Insurance
What is the current company name associated with Max Life Insurance?+
The provider identifies Axis Max Life Insurance Limited as formerly known as Max Life Insurance Company Ltd.
Which customers does the insurer target?+
The insurer targets expatriates and older customers, alongside people of working age who want life and health protection. Adults from eighteen upward are the intended group for its products. The mix of audiences means the range covers several stages of life, from working years through to later life, with options that can be combined as needs change over time.
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