Mumbai,
December 19, 2025 : Axis Max Life Insurance Limited (“Axis Max
Life” / “Company”), formerly known as Max Life Insurance Company Limited,
strengthened its commitment to building a retirement-ready India by partnering
with Khyaal, an app for senior citizens, as an investment and insurance
partner for Khyaal 50Above50 event held recently in Mumbai.
The
two-day celebration brought together over 5,500 senior citizens and their
families, a vibrant hub of engagement, education, and empowerment for India's
50+ community. Axis Max Life supported Khyaal’s initiative by engaging senior
citizens and educating them about the importance of financial preparedness,
long-term planning and the role of life insurance in enabling a secure and
confident retirement.
The
event also focused on comprehensive financial readiness for retirement,
featuring interactive activities and information about long-term planning. It
highlighted the opportunities available to seniors looking for a "Grand
Transition" into their next great chapter, inviting them to become Life
Advisors and offering the interactive ‘Ring Your Retirement’ game.
The
event generated considerable lead interest for retirement planning solutions
and advisor recruitment, demonstrating the strong synergy between Axis Max
Life's offerings and Khyaal’s engaged community. Building on this shared
commitment to retirement preparedness, Axis Max Life recently released the
fifth edition of its India Retirement Index Study (IRIS), a proprietary study
conducted in partnership with Kantar that evaluates retirement readiness across
financial, health and emotional pillars.
According
to the findings, Western India’s Retirement Index rose to 50 in IRIS 5.0, up
from 46 in IRIS 2.0. This growth was driven by proactive health management,
greater financial product adoption and earlier planning behaviour among the
population. However, the study also noted that emotional readiness remains a
significant concern, with 70% of respondents in Western India expressing
anxiety around loneliness and financial dependence during retirement.
Khyaal’s
community-led event supported this need by combining annuity education with
meaningful in-person social experiences.
Anurag
Gupta, Chief Business Officer and Head of Retirement, Axis Max Life Insurance,
said: “IRIS 5.0 clearly shows that consumers are beginning to view retirement
in a more holistic manner, with stronger focus on early planning, disciplined
investing and overall wellbeing. What matters equally is the environment in
which these conversations take place. Through our partnership with Khyaal, we
have been able to engage senior citizens in a warm and personal setting that
blends retirement awareness with genuine community connection. This is the kind
of engagement that creates lasting impact and strengthens our commitment to
building a purpose-led retirement ecosystem for India.”
Hemanshu
Jain, Founder & CEO of Khyaal, added: “Khyaal 50Above50 event was about
celebrating the vibrancy and potential of India's senior community. Partnering
with Axis Max Life allowed us to combine this celebration with critical
financial education, ensuring our senior citizens have both the confidence and
the knowledge to design their next great chapter. This is exactly the kind of
meaningful partnership that enriches the Khyaal ecosystem.”
Axis
Max Life Insurance Limited, formerly known as Max Life Insurance Company
Limited, is a joint venture between Max Financial Services Limited (“MFSL”) and
Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and
long-term savings life insurance solutions through its multi-channel
distribution, including agency and third-party distribution partners. It has
built its operations over two decades through a need-based sales process, a
customer-centric approach to engagement and service delivery and trained human
capital. As per annual audited financials for FY2024-25, Axis Max Life
Insurance has achieved a gross written premium of INR 33,223 Cr. Axis Max Life
Insurance has recently transitioned to a new domain https://www.axismaxlife.com
as part of its rebranding exercise. This migration has no impact on existing
policyholders who will continue to receive all policy benefits and services as
earlier.
About
Khyaal:
Khyaal
is India’s number one app for senior citizens with over 4 million seniors and
growing. The app enables seniors above the age of 50 years to attend live
workshops, participate in fun games, make safe payments, avail on-demand
assistance, digi-gold, find curated travel packages, and enjoy many more
benefits. The Khyaal app also acts as a bridge that allows family members to
provide care and support to their loved ones. Established in 2020 by Hemanshu
Jain and Pritish Nelleri during the COVID-19 pandemic, the startup's primary
mission is to simplify retirement and enrich the lives of senior citizens by
fostering engagement, learning, and independence. For more information, please
visit www.khyaal.com