Updated September 28, 2026 · SumCue Editorial Team
Income Insurance vs Max Life Insurance
Income Insurance
Higher score in this comparison
Max Life Insurance
Income Insurance vs Max Life Insurance: the differences
| Compare | Income InsuranceReviewVisitVisit | Max Life InsuranceReviewVisitVisit |
|---|---|---|
| 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).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Income Insurance scores higher overall: 9.4 vs 9.2.
- 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 is a Singapore insurer selling auto, home, life, health, travel, pet and motorcycle cover, with a starting premium of SGD 0.60. It suits households that want several kinds of cover under one insurer, and seniors sit among the audience it names.
Max Life Insurance
Max Life Insurance suits adults in India who want life, health or critical illness cover bought direct from the company that pays the claim, with term cover reaching Rs 5 crore sum assured and monthly premiums. An insurer since 2000, it names expats and seniors as its customers.
Score breakdown
| Area | Income Insurance | Max Life Insurance |
|---|---|---|
| Cost | 9.1Starting premium of SGD 0.60 ranks 25 of 251 brands on premium from, while pet cover carries an excess of SGD 250. | 9.3HigherCost sits at 7 on a starting premium of INR 461, with monthly payments on the term plan. |
| Offer | 9.5Higher | 9.2 |
| Trust | 9.5Higher | 9.3 |
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.
How they place
| Ranking | Income Insurance | Max Life Insurance |
|---|---|---|
| Insurance | 15 of 627 | 25 of 627 |
| Life insurance | 4 of 238 | 7 of 238 |
| Health insurance | 5 of 200 | 11 of 200 |
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 |
Sources behind this comparison
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 |
Pros and cons
Income Insurance
Pros
- One insurer handles auto, home and life.
- Starting premiums of SGD 0.60, with the site's median starting premium at €8.31.
- Claims can be started through phone, email and online form.
Cons
- The pet policy starts at an excess of SGD 250, and its annual cover is capped at a set maximum.
- The pet line under auto, home and life only begins inside a set age band, so an older animal falls outside it.
- Pricing and cover sit in a single market, SG, and the only audience named is seniors.
Max Life Insurance
Pros
- Cover and claims come from the same insurer, with no broker sitting between the policy and the payout.
- The life, health and critical illness lines sit with the same provider, so a family can hold several policies with the same company.
- Support runs on email, phone and help centre, and claims can go in by online portal, email and whatsapp, including a branch and WhatsApp.
Cons
- Cover starts at a minimum age of 18 years and above, so a child's own policy cannot be arranged here.
- On starting premium the brand ranks 86 of 251 brands compared, so cheaper entry points sit elsewhere.
- WhatsApp and branches appear on the claims side (online portal, email and whatsapp) but not in email, phone and help centre, leaving everyday queries to email, phone and the help centre.
Who each suits
Income Insurance
Who it suits
- Households in Singapore who want motor, home, life, health, travel, pet and motorcycle cover arranged with one provider.
- Seniors, the only audience named under seniors.
- Pet owners with a young animal who are comfortable paying SGD 250 first on a vet bill.
Who should look elsewhere
- Readers chasing the lowest starting premium on the site, since bunq and bunq Spain list €0 and €0.
- Anyone who needs cover in a market other than SG, for whom bunq Spain is the option here tied to a different country.
Max Life Insurance
Who it suits
- Adults in India who want life or health cover from the insurer itself rather than a broker.
- Buyers sizing a term policy against a mortgage or a family's income, since the plan's sum assured runs to Rs 5 crore sum assured.
- Expats and seniors, the groups listed in expats and seniors.
Who should look elsewhere
- Readers benchmarking euro options: bunq starts at €0 and bunq Spain at €0, both quoted in euro.
- Anyone putting a euro product next to a rupee one: Linxea quotes €25, and the currencies differ, so the figures are not side by side.
- Buyers who need cover under a European regulator, such as bunq Spain customers, since Max Life's licence comes from IRDAI in India.
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
What kinds of insurance does Income Insurance sell?+
Income Insurance writes auto, home and life policies, so motor, home, life, health, travel, pet and motorcycle cover all sit with one provider. It is classed as an insurer rather than a comparison site, and it operates from SG.
What is the cheapest premium?+
The advertised starting premium is SGD 0.60. The site's median starting premium is €8.31, with a lower quartile of €2.92 and an upper quartile of €29.72. Income sits in the cheaper part of that range.
Max Life Insurance
What does the cheapest policy cost?+
Premiums start at INR 461 on the Smart Term Plan Plus term plan. That is the entry figure for the term product, not for every policy in the life, health and critical illness range, and the final premium depends on the plan and cover chosen.
Can I pay the premium monthly?+
Yes. Monthly payments are available, and the payment model is listed as monthly only. Paying in instalments spreads a term premium across the year rather than demanding the whole sum up front, which matters most if cash flow is tight.
Other options to compare
Other matchups
- Income Insurance vs HelloSafe (Atlas)
- Income Insurance vs WorldTrips
- Income Insurance vs die Bayerische
- Income Insurance vs Porto Seguro
- Income Insurance vs KS/AUXILIA
- Income Insurance vs MyPhysicianPlan
- Income Insurance vs Polizza Vita con Bonus
- Income Insurance vs HanseMerkur Reiseversicherung AT
- Income Insurance vs Linxea
- Income Insurance vs HomeServe
- Income Insurance vs Explorer Travel Insurance
- Income Insurance vs TravelSecure
- Income Insurance vs Compass
- Income Insurance vs MSIG Insurance (Thailand)
- Income Insurance vs Vuso UA
- Income Insurance vs TIPINSURE
- Income Insurance vs Acko
- Income Insurance vs Lemonade
- Income Insurance vs DirectAsia
- Income Insurance vs Alior
- Income Insurance vs WAS Insurance