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    Cancer Insurance

    Cancer insurance is a type of insurance designed to manage the costs associated with cancer. This policy helps mitigate the costs related to getting quality treatment for cancer, thus offering financial support. A cancer insurance plan usually offers coverage against all cancer stages and offers a dual benefit of lump-sum payment in addition to income on the diagnosis of a major stage....Read More

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    Insure your future, start now.

    Please provide following information correctly as it will be used to calculate your eligibility.

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    Written by

    Reviewed by

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    Rohit Ghosh

    Insurance Writer

    Rohit Ghosh has authored and reviewed several informative articles on Life and Term Insurance during his experience working with top Life Insurance brands. During his experience in the Life Insurance sector he has been responsible for formulation of several integrated marketing communication strategies. In his current role with Max Life Insurance he is responsible for website content and experience enhancement

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    Bhaskar Sinha

    Insurance Expert

    8+ years of experience in Life Insurance with expertise in Developing Life and Health Products, Digital Sales, Conducting effective trainings and Key Account Management.

    What is a Cancer Insurance Plan?

    Cancer insurance plan is a form of insurance plan that has been designed to help you manage risks of cancer disease to your health. A cancer policy helps mitigate the expenses related to getting good quality cancer treatment, thus providing the insured with required financial support.

    Being a health-related contingency, cancer can take a toll on your finances, which is why it is crucial to plan for such eventualities in the form of cancer insurance. Nobody wants to be afflicted by any form of cancer. But wishing we won’t suffer from it is not a good solution at all. With a cancer insurance policy, you can stay prepared for cancer care financially. It will help prevent your family from facing the financial load of your cancer treatment.

    These days, you can easily buy one of the best cancer health insurance plans online from the comfort of your home.

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    Tax exemptionup to Rs.54,600~#

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    High life cover at affordable premiums

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    Claim Paid Ratio^99.34%

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    Coverage against 64 critical illnesses@

    Term Plan Calculator

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    Why do you need Cancer Insurance plan

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    Cancer is one of the deadliest diseases across the globe. The changing lifestyle patterns have increased the risk of suffering from cancer. Studies [1] show that there are more than one hundred twenty types of cancer, and most of our body parts can get affected by it.

    Along with the probability of suffering from cancer, the treatment cost has also gone up. But with a cancer insurance plan, you can prevent this disease from wiping out your entire life savings. In other words, selecting the right cancer policy can help you plan for medical emergencies in life.

    Although most health insurance plans cover major critical illnesses including cancer, there are restrictions and sub-limits in terms of cancer care cover, in-patient hospitalization, and many others. Buying a cancer insurance plan gives you an edge over such plans. The primary reason to buy cancer insurance is to help you pay for high-cost treatments specific to cancer.

    Additionally, you may find cancer insurance plans to fit your budget pretty easily, as only cancer-specific treatments are covered. Cancer insurance pays for cancer diagnosis and treatment, which includes the expenses related to hospitalization, chemotherapy, surgery, to name a few. Both men and women can benefit from buying cancer insurance to enjoy financial security and peace of mind.

    What do I get with this plan?

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    Coverage against All stages of Cancer

    This plan covers all stages of Cancer. If detected at an early stage or at a pre-Cancer stage (Carcinoma-in-Situ), 20% of the initial cover amount is paid upfront and all future premiums are waived off. Remaining amount is payable if Cancer develops into a major stage. If detected at a major stage, full cover amount is paid with additional 10% as income for next 5 years.

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    Dual benefit of lumpsum payout + income, if major stage diagnosed

    10% of the initial sum insured is payable annually for 5 years if diagnosed with major stage Cancer

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    Sum Insured Increases by 10% for first five claim free years at no extra cost

    Cover increases by 10% simple rate for first five years, enhancing your total cover to 150% of the original cover without any extra cost.

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    All future premiums waived off if Cancer detected at an early stage

    If detected at an early stage or at a pre-Cancer stage (Carcinoma-in-Situ), 20% of the initial cover amount is paid upfront and all future premiums are waived off.

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    Long Term Coverage

    Coverage up to age 75 years

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    Tax Benefit

    Get tax benefit on the premiums paid under Section 80D of the Income Tax Act, 1961

    How Does Cancer Insurance Work?

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    A cancer insurance plans provides coverage against all cancer stages as per the specific terms and conditions defined by the insurer. It works by providing cancer insurance benefits after the purchase of the plan. Here is how a cancer insurance policy works in general:

    • An individual buys a cancer policy for a specific tenure by paying its premium online or offline.
    • Depending on the product, when diagnosed with early-stage cancer, he will receive a lumpsum payout under the chosen cancer insurance plan (a pre-defined percentage of the selected sum insured under the cancer policy). Alongside, all the future premiums of the Cancer cover are generally waived off while the policy continues.
    • Similarly, if the disease progresses to major stage cancer, the balance sum assured is payable.
    • Some cancer health insurance policies also provide income benefits in case of death of the insured or as defined in its contract.

    A cancer insurance plans, as the name suggests, provides insurance benefits for cancer treatment. It may or may not not offer any death benefit.

    What does a Cancer Insurance Cover?

    A cancer insurance plan covers the following:

    • Early-stage of cancer
    • Pre-cancer stage or Carcinoma-in-Situ
    • Major cancer stage

    What are the Benefits of Cancer Insurance Plans?

    Cancer Insurance Payout On Diagnosis

    Based on the cancer cover policy terms, you receive a lumpsum amount when diagnosed with cancer. This amount payable under the chosen cancer cover plan also varies as per the diagnosed stage of cancer.

    Waiver of Cancer Insurance Premium

    Under various cancer plans, you get the benefit of a waiver of cancer insurance premiums. i.e., you do not have to pay premiums after being diagnosed with cancer under certain conditions. You are advised to read the cancer insurance contract carefully to know further.

    Significant Cancer Insurance Cover at Low Cost

    Under the right cancer insurance plan, you can choose a significant sum insured at an affordable premium.

    Quality Treatment in Renowned Hospitals

    Unlike many other cancer health insurance policies, a cancer plan from a renowned insurer can also give you the freedom to choose the hospital and cancer treatment using the payout amount. It means there is no need to look for only network hospitals when you have a cancer cover policy by your side.

    Increased Sum Insured Per Year

    With many cancer cover plans, the sum insured increases annually by a pre-defined percentage in case no claim is filed. You can ask the chosen insurer about these benefits in detail.

    Tax Savings

    You can also save tax in the form of deductions for premiums paid for a cancer insurance plan. This is covered under Section 80D of the Income Tax Act. Tax benefit as per prevailing tax laws subject to change.

    How to Choose the Cancer Insurance Plan?

    You need to consider several aspects when you buy cancer insurance online or through the insurer’s branch offices. These include:

    Insurer’s Claim Settlement Ratio

    Each insurer has a Claim Settlement Ratio or CSR that can tell you how many claims have been settled out of all the ones received. Buy cancer insurance policies from an insurer that has high CSR.

    Cancer Insurance Payout on Different Conditions

    The payouts under cancer insurance plans are considered differently for early-stage and major stage diagnosis. No one can tell what kind of cancer would happen. Hence, you should choose from cancer health insurance policies that offer significant benefits for even minor conditions. Such a policy will help you deal with the expenses related to cancer treatment very well.

    Cancer Insurance Premium

    The definition of a suitable cancer policy may vary from one individual to the other. Hence, you should buy cancer insurance plan that you can pay the premiums for as long as you want. Choose from the cancer health insurance policies from renowned insurers that offer substantial cover at an affordable premium.

    Cancer Insurance Coverage Term

    Besides the coverage for the insurance, you should take into consideration the insurance term that a cancer insurance plan provides. While an adequate coverage is necessary, so is the term period for the coverage, so it will be financially favorable for you in the long term to choose a plan that covers you for a longer period. As most cancer treatments normally last a long time, a cancer insurance with longer term will ensure you get adequate coverage for your whole cancer treatment.

    How to Buy Cancer Insurance Online?

    Here are the steps that you need to follow to buy Max Life Cancer Insurance Plan:

    • Step One

      Enter Basic Details

      After you click on ‘Get Quote’ button for Max Life Cancer Insurance plan, the process to buy a cancer policy starts. The Max Life Cancer Insurance Plan calculator will ask about your age and gender before providing the cancer insurance quote.

    • Step Two

      Choose Sum Insured and Maturity Age

      At this step of cancer policy purchase, you need to select sum insured and maturity age. Based on your selection, Cancer Insurance Plan calculator will show you an estimated premium amount.

    • Step Three

      Pay Premium to Buy Cancer Insurance

      Once you have made the final selection of cancer insurance benefits, fill in the additional details and pay the premium. Next to it, you need to submit documents required to buy our cancer insurance plan.

    Here’s all you need to know about this plan

    • Plan Benefits

      Product Benefit

      Early Stage Cancer or Carcinoma-in-Situ (CiS)

      • Lumpsum- 20% of Sum Insured (Increased Sum Assured in case the diagnosis happens after the first 12 months)

      • All the future premiums payable under the policy are waived and the policy continues.

      Major Stage Cancer

      • 100% of Sum Insured (Increased Sum Assured in case the diagnosis happens after the first 12 months) less prior cumulative lump sum payments on the event(s) of Early Stage Cancer or Carcinoma in Situ (CiS).
      • 10% of Basic Sum Insured is payable for a period of up to 5 years.The Income Benefit will be paid as and when due irrespective of the expiry of the Policy Term or in case of death of Policyholder. In case of death of Policyholder during Income Benefit payout period, the benefit will be paid to the Nominee / Legal heir.

      Death Benefit

      A Cancer insurance plan is meant to cover medical expenses related to cancer treatment and does not offer any death benefit. However, if the Life Insured dies within waiting period than 100% of the premium paid since the date of commencement or reinstatement of policy (as the case may be) excluding all applicable taxes, cesses and levies as imposed by the Government is payable.

      Tax Benefit

      Tax benefit on the premiums paid are exempt under Section 80D of the Income Tax Act, 1961.

    • How this plan works?

      Case Study

      Mr. Bajaj, aged 35 years, buys Max Life Cancer Insurance plan. The coverage option chosen was cover till age of 70 years with Base Sum Insured of Rs. 30 Lakhs.
      Let’s see what benefit Mr. Bajaj gets in various scenarios: -

      Annualized Premium paid by Mr. Bajaj (excluding all applicable taxes, cesses and levies as imposed by the Government):-

      • In case bought through Online Sales - Rs. 10,800/-
      • In case bought through Other Channels – Rs. 10,890/-

      Scenario 1 

      Scenario 2: Mr. Bajaj was diagnosed with Early Stage Cancer in 8th Policy year. He survived the rest of Policy Term without being diagnosed with any Major Stage Cancer or Early Stage Cancer/CiS

      Scenario 3: Mr. Bajaj was diagnosed with Major stage cancer in 5th Policy year.

      Scenario 4: Mr. Bajaj was diagnosed with CiS in 5th Policy year and Major stage cancer in 9th Policy year.

      Important Notes

      Kindly note that the above case studies are only examples and do not in any way create any rights and / or obligations. The actual experience of the policy may be different from what is shown above.

    • Check your eligibility



      Age at Entry (age as on last birthday)

      Minimum - 25 years

      Maximum - 65 years

      Maximum Maturity Age

      75 years

      Clause on Nationality needs to be added

      1.This plan is to be offered to Resident Indian Nationals only

      2.NRIs, PIOs, OCIs or foreign nationals of Indian Origin are not eligible for this plan

    • Premium Paying Option

      The product allows Annual, Semi-Annual, Quarterly and Monthly Premium Paying Modes. The modal factors are as follows:

      Modal Factors


      Single Pay variant

      Limited and Regular Pay variant

      Premium Payment Mode & Modal Factors

      Annual

      Semi-annual

      Quarterly

      Monthly

      1.000

      0.520

      0.265

      0.090

      The Premium Payment Mode can be changed during The Policy Term. Any change in Premium Payment Mode will be effective from or coinciding the next Policy Anniversary.

      Annualised Premium

      Offline version

      Minimum - Rs. 1960/- per annum

      Maximum - Rs. 1,49,750/- per annum

      Online version

      Minimum - Rs. 1700/- per annum

      Maximum - Rs. 1,23,850/- per annum

      Policy Term

      Minimum – 10 Years

      Maximum – 40 Years

      Policy Expiry age(maturity age)

      You have option to choose from following options with respect to policy expiry term subject to minimum and maximum

      Policy Term as stated above at start of policy:-

      Coverage till age:-

      55 Years; 60 Years; 65 Years; 70 Years; 75 Years

      Policy Term = opted policy expiry age less Entry Age.

      Sum Insured

      Minimum: Rs. 10 Lakhs Maximum: Rs. 50 Lakhs

      Please note that the Sum Insured can be chosen only in intervals of Rs. 5 Lakhs.

      The product offers an inbuilt-indexation benefit; where in the Sum Insured under the product increases by 10% (simple rate) on each policy

      anniversary till the time no claim has been admitted in the past; up to a maximum of 150% of the Basic Sum Insured at the start of the Policy.

      Maximum Sum Insured under this plan will be Rs. 75 Lakhs after allowing in-built indexation benefit (subject to no claim during indexation period).

      Waiting Period

      180 Days waiting period is applicable from the date of commencement or reinstatement of cover whichever is later. For reinstatement cases, Waiting Period is only applicable if reinstatement happens post 90 days of date of last unpaid premium i.e. if the policy is revived within 90 days from date of last unpaid premium than no Waiting Period is applicable. If Life Insured is diagnosed with CiS or Early Stage Cancer or Major Stage Cancer or dies during the Waiting Period, then no benefit is payable apart from refund of 100% of the premium paid since the date of commencement or reinstatement of policy (as the case may be) excluding all applicable taxes, cesses and levies as imposed by the Government along with any other cess and late fee and / or interest payment paid on reinstatement.

    • Downloads
      • Downloads
        1. Prospectus
        2. Policy Contract
        3. Premium Rates table
        4. Leaflet

    Why Choose Max Life

    99.34% Claims Paid Percentage

    (Source : Max life annual audited financials FY 21-22)

    269 Offices

    (Source : As reported to IRDAI, FY 21-22)

    ₹1,174,515 Cr. Sum Assured

    In force (individual) (Source : Max Life Public disclosure, FY 21-22)

    ₹1,07,510 Cr. Assets Managed

    (Source : Max Life Public disclosure, FY 21-22)

    Frequently Asked Questions (FAQs)

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    The need to buy cancer insurance online or offline arises from high cancer treatment cost and associated risks. Paying cancer policy premium is a better alternative to a basic health cover for individuals at high risk of developing cancer.

    Buying Max Life Cancer Insurance Plan is more about being prepared for cancer if it occurs. This deadly disease can become the cause of financial loss over the long term. Even though you are fit and healthy, you can stay safe and prepared to deal with Cancer treatment by having a cancer care insurance plan by your side

    The cancer insurance plan is the one that covers various stages of this disease. Max Life Cancer Insurance Plan is one such cancer policy that you can buy online easily. The cancer policy premium you need to pay gives you several benefits, including lumpsum payout on early-stage cancer diagnosis, multiple claims facility, future cancer policy premium waiver, and many others.
    (Max Life Cancer Insurance Plan: A Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Plan. UIN - 104N093V03)

    Cancer policy premiums make you eligible for tax benefits under 80D. You can claim a deduction of Rs. 25,000 for yourself, kids, and spouse, and an additional deduction of Rs. 25,000 to cover parent’s health under a cancer care insurance plan.

    Most cancer insurance plans do not offer death benefits. It would be best if you read the policy documents carefully to understand its inclusions and exclusions.

    Under Max Life Cancer Insurance Plan, you get a pre-defined amount as per cancer policy terms on diagnosis of cancer. You also get full freedom to spend the money for cancer treatment and other related expenses.

    Given the high cost of cancer treatment which includes chemotherapy, medication, hospitalization and tests, it is advisable to choose a sum insured of at least Rs. 20 Lakhs. With Max Life Cancer Insurance plan, you can choose the cover of Rs. 10 Lakhs to Rs. 50 Lakhs.

    Under most cancer insurance plans, you are not bound to visit the network hospitals to get cancer treatment. You can use the payout amount to visit the doctor of your choice and get the required treatment.

    With Max Life Cancer Insurance plan, you get the benefit of future premium waiver in case you are diagnosed with an early-stage cancer. You also get 20% of the cover amount paid up front.

    The age limit to buy cancer insurance in India may vary from one insurer to the other. For Max Life Insurance, the age range at entry varies from 25 to 65 years

    ARN NO: PCP/CIP/030123

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      • MAX INDIA
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      • ANTARA SENIOR LIVING

      BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

      IRDAI clarifies to public that:
      • IRDAI is not involved in activities like selling insurance policies, announcing
      bonus or investment of premiums.

      • Public receiving such phone calls are requested to lodge a police complaint.

      IRDAI - Registration No. 104. ARN/Web/01/21042021 Category: Life. Validity: Valid.
      Corporate Identity Number (CIN):U74899PB2000PLC045626.
      Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd .respectively and with their consents, are used by Max Life Insurance Co. Ltd

      All Rights Reserved. An ISO 9001:2008 Certified Company.

      Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited.

      Corporate Office :

       Max Life Insurance Co. Ltd. 11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram (Haryana) - 122002.

      Operation Center :

       Max Life Insurance Co. Ltd, Plot No. 90-C UdyogVihar, Sector 18, Gurugram (Haryana) - 122015.

      Customer Helpline: 1860 120 5577 (9:00 A.M to 6:00 P.M Monday to Saturday) * Call charges apply.

      Online Helpline - 0124 648 8900 (09:00 AM to 09:00 PM Monday to Saturday).

      Fax Number:0124-4159397.

      Email ids: service.helpdesk@maxlifeinsurance.com

      Website: www.maxlifeinsurance.com

      Max Life Insurance is integrated with licensed NBFC FinVu(Cookiejar Technologies Pvt. Ltd. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Read more about Account Aggregator framework here.

      *Life insurance coverage is available in this product. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd. respectively and with their consents, are used by Max Life Insurance Co.

      Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

      Disclaimers for Market Linked Plans & Saving plans:

       

      THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

      Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V05) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

      Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN104L098V05)

      *#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

      ^*Disclaimer: Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy female of 18 years old paying Rs.3,60,000/- annually (exclusive of all applicable taxes)

       

      Privacy Policy

      ^^On completion of policy term

      The savings indicated is the maximum premium difference as compared with offline plan & depends on the variant purchased.

      ^*All claims that qualify for InstaClaim™ will be paid within 1 working day from date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on beginning of financial year in which claim has been received (4.65 % p.a. for FY’20) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which death claim has been received.

      Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day.Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification.Mandatory Documents :> Original policy document > Original/attested copy of death certificate issued by local municipal authority > Death claim application form (Form A) > NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof > Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

      7CMO Asia BFSI Excellence Award 2019

       

      5Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition

      4InstaClaim TM is available for all versions of (UIN:104N118V05). Mandatory Documents : • Original policy document • Original/attested copy of death certificate issued by local municipal authority • Death claim application form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

      ##

      Tax conditions :

      Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime ~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and 25,000 for critical illness cover and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.

      3The discount is applicable if you are a salaried employee with a corporate. During policy issuance, Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

      CI Rider disclaimers:

      MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN- 104B033V01) available as a rider on payment of additional premium.

      >Extended cover of up to 85 years is available with gold and platinum variant only

      @ 64 critical illnesses covered in platinum and platinum plus variant on payment

      22 critical illnesses covered in gold and gold plus variant

      6 The life insurer is eligible for a discount on renewal premium under regular pay variant by accumulating Healthy Weeks as per terms and conditions of the rider

      *^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

       ~ Conditions for premium break : Available at an additional premium for policies with policy term greater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years

      ~1 Conditions for Special exit value:

      Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of Premium variant is not chosen. No additional premium to be paid.

      ~2 Voluntary Top-up Sum assured:

      Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured up to an additional 100% of base sum assured, chosen at inception

      ^^*^^Free look period conditions:

      The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

      ^Individual Death Claims Paid Ratio as per IRDAI Annual Report FY 2021-2022

      8https://www.moneycontrol.com/news/business/economy/buy-term-insurance-now-as-rates-may-rise-from-april-1-4930921.html

      2Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).

      3The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid

      4Tax benefits as per prevailing tax laws, subject to change

      Terms and conditions for availing 5% employee discount:

      <Due to system constraints, employee is requested to select 5 Lakh and above income which can be changed to actual amount on the information page.

      1 The 5% employee discount will be refunded to you once your policy is issued. Submit your documents for getting your policy issued and get 5% employee discount

      9

      The percentage savings is for a regular pay Max Life Smart Secure Plus Plan ( A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN - 104N118V05)– Life Option for 1 cr life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term with the same details’

      ~*Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05)

      **Healthy non-smoking male, 24 years, 2 cr cover,25 years policy term,25 year premium payment term, exclusive pf GST for Max Life Smart Secure Plus Plan (UIN:104N118V05)

      ~~Healthy non-smoking male, 24 years, 1 cr cover,25 years policy term,25 year premium payment term, exclusive pf GST for Max Life Smart Secure Plus Plan (UIN:104N118V05)

      Max Life Smart Wealth Plan| A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan| @Rs.9,68,800/- as lump sum at the end of 15 years, for 35 years old healthy male.

      ARN - ARN/Web/01/21042021

      Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.The premiums & funds are subject to certain charges related to the fund or to the premium paid.

      The premium shall be adjusted on the due date even if it has been received in advance.

      For Total Installment Premium -**Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.

      For Return of Premium -~The Return of Premium Option is available on payment of Additional Premium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. Upon Policyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan.

      For Riders -#Applicable Rider available on the payment of Additional Premium is Max Life Critical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Rider |UIN: 104B033V01 . Critical Illness and Disability Rider variant opted is Platinum Plus which covers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed with listed 64 critical illnesses or total and permanent disability. Rider will terminate after major critical illness claim is paid to the policyholder. In case customer requests for cancellation of rider only, the solution as a whole will be cancelled and not just the individual rider.

      For Additional Benefits -##On Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

      *~Disclaimer | Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premium life insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standard premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan.

      6

      Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 20,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

      ##

      Policy continuance benefit is not available with lifelong wealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate (publish on RBI’s website).

      #

      With “Save the date”, you can choose to take your annual income to any special date in a year.

      ***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

      ~

      Accidental death benefit is available in call variants except for Single premium variant. Life insurance coverage is available in this product.

      #~

      Term Insurance plan bought online directly from Max Life Insurance has no commissions involved.

      ~1

      Max Life Smart Secure Plus Plan, A non-linked non-participating Individual Pure Risk Premium Life Insurance Plan| Standard Premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan| ~1 Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to be paid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. Special Exit Value cover applicable till age 68 & above (of your age). T&C Apply.

      6

      Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 20,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

      **

      Max Life Critical illness and Disability (UIN- 104B033V01) available as a rider on payment of additional premium. 64 critical illnesses covered in platinum and platinum plus variant on payment.

      *

      Available on Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

      7

      Available with Max Life Smart Wealth Plan (UIN: 104N116V08)

      8

      Available with Max Life Smart Fixed-return Digital Plan (UIN:104N123V03). The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 50 lakh.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 75 lakh.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 1.5 Cr.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 2 Cr.

      **Disclaimer: Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V05) with a life cover of Rs. 5 Cr.

      **Our Life insurance policies cover COVID-19 life claims under life insurance claims, are subject to applicable terms and conditions of the policy contract and extant regulatory framework.