Cancer Insurance Plan

Our lifestyle and stress related issues make us prone to many critical diseases, sometimes even at an early age. Cancer is one such disease which has increasingly become an epidemic. More often than not, the cost of cancer treatment is very expensive and can become a huge financial burden on the family causing a big dent in our savings pool.


Max Life Cancer Insurance plan provides comprehensive protection against all stages of Cancer. If detected at an early stage, 20% of the cover paid upfront and all future premiums are waived. If detected at a major stage, full cover amount is paid with additional 10% as income for next 5 years. The plan offers cover till age 75 years. 

3 reasons why you should get this plan

  • Comprehensive protection against all stages of Cancer
  • Payout on diagnosis, regardless of the stage of Cancer
  • Sum insured increase by 10% for 1st five claim-free years at no extra cost

What do I get with this plan?

What do I get with this plan?

Here’s all you need to know about this plan

Here’s all you need to know about this plan

Insert Image Product Benefit

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

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

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

Major Stage Cancer

1. 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).

2. 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.

Insert Image 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 then 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.

Insert Image Tax Benefit

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

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 :-

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

a) In case bought through Online Sales - Rs. 10,800/-
b) 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.


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 Payment Mode & Modal Factors

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

Modal Factors

Premium Mode










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 asimposed by the Government along with any other cess and late fee and / or interest payment paid on reinstatement.



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Additional Benefits through Riders

Additional Benefits through Riders

Wondering how Cancer Insurance Plan can meet your financial needs?

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments

Why Choose Max Life

Here are some of the numbers which speak about our accomplishments
Claims Paid Percentage



(Source : Max life annual audited financials FY 20-21)

Max Life Presence

277 Offices

277 Offices

(Source : As reported to IRDAI, FY 20-21)

Sum Assured

₹1,087,987 Cr.

₹1,087,987 Cr.

In force (individual) (Source : Max Life Public disclosure, FY 20-21)

Assets Under Management

₹90,407 Cr.

₹90,407 Cr.

(Source : Max Life Public disclosure, FY 20-21)

More reasons why our customers choose us

Frequently Asked Questions

Frequently Asked Questions

1. Is cancer insurance necessary? Do I need a separate plan for cancer, even if I have a health insurance plan?

People may hesitate at the thought of buying a dedicated cancer plan in addition to the health insurance they probably already have. However, people must understand the high treatment cost and the risks associated with cancer. Especially for those people who may have a higher probability of developing cancer (heredity, lifestyle, etc.), it is advisable to take cancer insurance over a basic health insurance policy, as additional cover. 


While a health plan typically covers the basic expense of cancer treatment, a cancer plan is a supplementary protection, designed to cover all costs of an expensive cancer treatment for all stages. There are insurance companies that provide multiple claims up to 5 early-stage cancer claims payable for different organs, a premium relaxation if cancer is detected early and 100% cover amount payable even during late-stage detection. 


2. I am healthy and do not have any cases of Cancer in the family. Do I need a Cancer Plan?

Cancer can afflict anyone. Yet, when it comes to preparedness for cancer, most of us believe that we don’t need to. Why? Because we are all fit and healthy, miles away from cancer, and that is not without good reason either. Did you know that in India, over 10 lakh new cases of cancer are diagnosed every year? That works out to 114 cases every minute. Unfortunately, due to late diagnosis, over 7 lakh people die of the disease each year. 

However, up to 50% of all cancer cases are preventable, according to World Health Organization (WHO). Making lifestyle changes can improve your health and put you at lesser risk of developing cancer. 

Cancer catches you off guard – physically as well as financially. While you can make lifestyle changes to prevent cancer, safeguarding yourself financially by buying a cancer cover will ensure that there is no financial burden, in case of an unfortunate turn of events. That is why investing in dedicated cancer insurance makes a lot of sense.

3. Which cancer insurance is the best?

The cancer policy that covers all stages of the disease including the various types certainly merits to be on your consideration list. However, before you buy a cancer insurance plan, it is advised to compare the coverage, cancer insurance premiums, and other features of the plan across different insurers.

Lower premiums might not always be the best for you. If you get more coverage and features, then paying a higher premium is always a prudent move.

Max Life Insurance offers a Cancer Insurance Plan which covers all stages of cancer. It also offers other benefits like: 

• smokers covered

• 20% lump sum upfront on detection of early stage cancer

• provision for multiple claims for early-stage cancer

• 100% cover amount payable even during late-stage detection

• cover of up to Rs. 50 lakhs

• future premiums waived 

• paperless transaction

• 10% increase in covers up to 150% of the original amount for every claim-free year

4. Are cancer insurance policies taxable?

Cancer insurance premiums can get you tax benefits under scheme 80D of the Income Tax Act 1961. Deduction from taxable income amounts to Rs. 25,000 for self, spouse, and dependent children (Rs. 30,000 if the age of insured is 60 years or more) + Rs. 25,000 for parents (Rs. 30,000 if the age of insured is 60 years or more) 


You will get tax deduction only if the cancer policy premium is paid in any mode other than cash. 

Insured Type


Deduction Limit

Self, Spouse, Dependent Children

Age of Insured <60

Rs 25,000

Self, Spouse, Dependent

Age of Insured >60

Rs 30,000


Age of Parents <60

Rs 25,000

5. What is the claim process for a Max Life’s Cancer Insurance Plan?

Though a cancer plan comes with a waiting period, the policyholder is not required to submit any bills. A diagnosis report from an authorised medical practitioner will suffice, and the insurer will bear the entire eligible claim on the basis of that. Therefore, the claims process on cancer insurance are comparatively hassle free. 

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Difference Between Cancer Insurance, Critical Illness & Health Insurance

A health insurance plan is a basic indemnity-based plan, which means that the insurer will reimburse hospital expenses or provide cashless treatment. This plan covers the rising cost of hospitalization, treatments, diagnosis, medical aid, etc. A cancer Insurance plan is a benefit-based policy where the entire sum assured in paid upfront covers basis the diagnosis report from an authorised medical practitioner. Max Life offers the Cancer Insurance Plan that provides comprehensive coverage against all stages of cancer (Pre-stage, Early Stage and Major Stage) A cancer insurance policy should be purchased in addition to a basic health insurance policy. Read on to learn the differences.

3 Key Things to Check While Purchasing a Cancer Insurance Policy

The market is flooded with cancer insurance options, but you should be careful with the plan you choose for yourself. Different insurance companies offer unique features and so you should make sure that the inclusions and exclusions should be carefully read. Here are some of the must-have features that the best cancer insurance plans offer. Eligibility for cover, stages of severity, easy claim settlement, income benefit, and waiver of premium are some of the essentials you should look at.

Why a Health Plan or Rider won't protect you against Cancer

In India, about 10 lakh people are diagnosed with cancer every year and another six to seven lakh die of it. By 2035, these numbers may almost double to 17 lakh new patients and 12 lakh deaths per annum. Most health insurance policies available in the market today cover almost all major critical illnesses, including cancer, but these policies generally pay only for inpatient hospitalization or for treatment at hospitals in India. Hence, these fail to cover the entire cost of treatment.

Debunking six common cancer myths

By 2021, over 70 Mn Indians are likely to suffer from some type of cancer, according to The Indian Institute of Health Management Research (IIHMR). With increasing number of cancer-related detections, India must address low awareness and misconceptions surrounding cancer as they are leading to late detection of cancer. In India, across all types of cancers, about ~20-30% cases are detected in Stages I and II, which is less than half of that in the US, UK, and China. Let's clear 10 major misconceptions related to causes and treatment of cancer.

Does stress cause cancer?

Stress is the body’s natural reaction to challenges, and prolonged exposure to it can have undesirable physiological and psychological consequences. While stress has become a consistent part of modern-day life, excessive amounts of it can trigger illnesses by causing changes in behaviour and physiology. Stress itself leads to an increased risk of illness or death, but instead the permanent changes in a person’s physiological, emotional, and behavioural responses that are the most likely cause. Stress inhibits the body’s ability to fight disease, thus making it more hospitable to serious illnesses, including cancer. Here are quick steps to help you keep stress away !

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