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    Critical Illness Insurance

    Critical illnesses don’t only strain the body, but finances as well. Even though the medical infrastructure is progressing, with it the medical cost is increasing as well. It’s essential to be prepared for it even when there’s a faint possibility of a diagnosis. A critical illness insurance can come at your rescue by helping you manage the treatment costs of several critical illnesses....Read More

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    | Max Life Critical Illness & Disability Rider| Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Rider|As per IRDAI Annual Report 2020-21|Rider Benefit is available on payment of extra Premium over base plan| @> T&C Apply.

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    Rohit Ghosh

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    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

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    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 Critical Illness Insurance Cover

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    A critical illness insurance cover, often referred in laymen language as Critical Illness Insurance, encompasses insurance benefits you receive to deal with life-threatening critical illnesses and various lifestyle diseases. Critical health issues like Cancer, Stroke, and Kidney failure require comprehensive treatment, which can take a toll on your finances are often covered in the Critical Illness Insurance Cover in addition to the base plan which provides a life insurance cover.

    According to the World Health Organization (WHO)

    Cardiovascular diseases, cancer, stroke, and chronic obstructive pulmonary diseases are significant health ailments in India that require critical illness coverage.

    The need for having critical illness insurance cover can be realized from the fact that these illnesses impact vital body parts, such as the brain, lungs, and heart. Because of negligence and lack of pre-emptive health checkups, the diseases continue and later requires comprehensive treatment. With a critical illness insurance cover, you can easily avoid facing any financial burden while getting the necessary treatment.

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    Who All Can Buy Critical Illness Insurance Cover?

    The minimum entry age to purchase this critical illness and disability insurance rider is 18 years.

    While the maximum age of adding critical illness cover is 65 years, the maximum maturity age under Max Life Critical Illness and Disability Rider varies as per the critical illness coverage variant selected.

    Both male and female buyers can opt for the critical illness cover at the same premium rates while purchasing base life insurance plan.
    In addition to this, a Critical Illness Insurance Cover is ideal for these categories of people:

    1. Those with a History of Critical Illness in Their Family:

      Illnesses do not come with a warning. However, when you have a history of critical illnesses in the family, the possibility of a diagnosis is high. Therefore, consider your family’s medical history when you are buying a basic insurance policy. If you know of any such instance of critical illness, it’s highly recommended that you buy critical illness insurance to ensure maximum financial and health protection if the need arises.



    2. Primary Breadwinners:

      If you are the primary breadwinner of the family, health costs are not the only expenditure that your family expects you to incur. There are tons of expenses your future is full of. Exhausting your savings on the best medical treatment in case of a critical illness is the last thing you need. Therefore, it’s highly suggested that you go for a critical illness insurance to maximize your health cover.



    3. Those Having High-Pressure Jobs:

      Most individuals don’t realize it, but stress is the leading cause of multiple health issues. Stress can cause or aggravate heart issues. Therefore, if you are working a high pressure job that causes you stress, it’s suggested that you consider buying critical illness insurance.



    4. People Over the Age of 40 Years:

      With age, comes health issues. Even when you are in the best of your health, but are over the age of 40 years, you must consider buying a critical illness insurance rider to create a financial net if God forbid the eventuality arises.

    What is Term Insurance with Critical Illness Insurance Cover?

    Critical illness insurance.jpg

    Max Life Insurance offers Critical Illness insurance under Max Life Critical Illness and Disability Rider with various life insurance policies. The benefits under these policies include financial security to your family in case of your unexpected demise, wealth creation, retirement planning, and more.

    The Critical Illness Insurance cover provides you financial security against various life-threatening health conditions such as kidney failures, cardiovascular diseases, and cancer. The critical illness insurance cover includes a lump sum payment in case you are diagnosed with a listed illness. This way, you can take care of healthcare and other miscellaneous expenses without draining your savings.

    At Max Life Insurance, we understand that your intent behind buying a life insurance policy is to ensure financial protection for yourself and your family. To make you realize the real value of your life, we always suggest maximum protection against all odds and that is one reason why we offer Max Life Critical Illness and Disability Rider (UIN-104B033V01). It is an add-on that you can select with many of our life insurance products to get a comprehensive critical illness cover.

    Under this add on to your life insurance plan, you not only get critical illness and disability cover against the unfortunate diagnosis of listed 64 critical illnesses, but It provides additional cover against permanent and total disability.

    If you want to safeguard your health the right way, choose this Rider for maximum critical illness coverage.

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    Why Should You Choose Max Life Insurance's Critical Illness and Disability Cover?

    99.34%^

    Claims Paid Ratio

    64 Critical Illnesses

    Covered

    Disability Covered

    Temporary & Permanent

    At Max Life Insurance, we understand that your intent behind buying a life insurance policy is to ensure financial protection for yourself and your family. To make you realize the real value of your life, we always suggest maximum protection against all odds and that is one reason why we offer Max Life Critical Illness and Disability Rider (UIN-104B033V01). It is an add-on that you can select with many of our life insurance products to get a comprehensive critical illness cover.

    Under this add on to your life insurance plan, you not only get critical illness and disability cover against the unfortunate diagnosis of listed 64 critical illnesses, but It provides additional cover against permanent and total disability.

    If you want to safeguard your health the right way, choose this Rider for maximum critical illness coverage.

    Benefits of Critical Illness Insurance Plans

    Critical illness insurance plans share certain specific benefits that distinguish them from other types of insurance. The following are some of the most prominent benefits of purchasing a critical illness policy:

    1. Financial Support in times of need

    You can choose a high sum insured level with critical illness plans, ensuring that you are properly covered in the event of a severe illness or advanced treatment. A critical illness coverage protects you against certain illnesses as well as treatments and surgery.

    If you are diagnosed with a critical disease covered by the insurance, these policies pay you the amount insured, and the regularity of the payment depends on the predetermined terms of the critical illness policy. The claim money from critical illness insurance plans can be used to pay for medical bills or other financial commitments.

    When a person is diagnosed with a life-threatening or complicated disease, the financial impact can be quite massive on the individual and their family members. Rather than focusing on recovery, such circumstances lead to financial burdens leaving the family dependent on other resources. This can exacerbate your health problems.

    However, if you are covered under a critical illness policy, you can focus completely on the quality of treatment and rehabilitation rather than worrying about the financial aspect of the disease.

    2. Numerous Critical Illnesses Covered

    A list of critical illnesses is covered by a critical illness policy. Since the critical illness list differs per insurer and the policy, you should examine the policy to see how many and what types of illnesses it covers.

    3. Acts as Income Substitute

    In case of being diagnosed with a critical illness, it is possible that your health condition doesn’t allow you to continue working. In such a situation, the livelihood of your family might be endangered.

    However, if you have adequate coverage under a critical illness policy, you can claim the sum insured and use it to pay for treatment and living expenses. This is especially a relief for policy buyers who are the sole breadwinners of their family.

    4. Additional Support On Top On Health Insurance

    A critical illness policy is separate from any other health insurance coverage you may have. Even if you already have a health plan covering your sickness, the critical illness coverage would pay a claim if you got sick.

    In the event of a critical illness, critical illness insurance can be used to enhance an existing health insurance plan. This way, you will have ample coverage and funds to manage medical and living expenses.

    5. Funding for Expensive Treatments

    Treatments for critical illnesses can be quite heavy on your pocket. Hence, there is a need for a specific insurance plan such as critical illness insurance that pays for the expensive treatment where standard health insurance may be insufficient.

    6. Affordable Premiums

    For the many benefits and the peace of mind that critical illness insurance offers, investing in such insurance is a smart idea. Besides, you will find that critical illness insurance comes with affordable premiums, so that you ensure protection for your health, without burning a hole in your pocket.

    7.Tax Advantages4

    Section 80D of the Income Tax Act of 1961 allows you to deduct the premiums you pay for critical illness policy.

    Key features of Max Life Critical Illness and Disability Rider

    Investing money in Max Life Critical Illness and Disability Rider UIN(104B033V01) will always be a good financial planning call as it will mitigate the financial risk on battling many serious diseases. This critical illness insurance rider comes with the following features:

    Comprehensive Critical Illness Cover

    The critical illness coverage under this Rider spans over 64 Critical Illnesses depending on the variant you select

    Flexible Payment Option

    You can get critical illness cover under this Rider by paying premiums throughout the policy tenure (regular pay) or a specific number of years only (limited pay)

    Critical Illness Coverage for an Extended Period

    One of the significant benefits of opting for critical illness cover under this Rider is its extended coverage period. Get coverage for yourself or your loved ones upto age 85 years for 2 variants.

    Total and Permanent Disability Cover

    You can also get insurance coverage for Total and Permanent disability under specified variant of this critical illness insurance rider

    Max Fit Program

    You also get a Wellness benefit under this critical illness and disability insurance rider to ensure good health and lesser renewal premiums. All you have to do is to walk/run and you will be eligible for a discounted renewal premium based on the number of steps monitored and number of healthy weeks accumulated on Max fit app

    Variants of Max Life Critical Illness and Disability Rider

    Given below are the variants of this critical illness benefit rider to choose from

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    Complete Personalization basis your risk appetite.

    Choose between 10 fund options and 5 investment strategies to ensure optimal returns on your investment, under this ULIP.

    gold-variant.png

    Gold variant

    critical illness cover for 22 CI (one minor and 21 major critical illnesses)

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    Gold Plus variant

    critical illness coverage of Gold variant along with Total and Permanent Disability (TPD cover)

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    Platinum variant

    critical illness cover for 64 CI (five minor and fifty-nine major critical diseases)

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    Platinum Plus variant

    a combination of Platinum variant critical illness cover and TPD cover.

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    TPD variant

    Critical Illness Benefit on the occurrence of the listed conditions arising as the result of sickness, disease or bodily injury

    How to Buy Critical Illness Cover?

    Here is a quick way to get critical illness cover under Max Life Critical Illness and Disability Rider:

    • Step One

      Select base the policy term and sum assured

      The first step to getting critical illness cover is to use the online life insurance calculator to calculate the premium for the desired sum assured and tenure of one of our life insurance products.

    • Step Two

      Choose the Critical Illness Benefit Rider

      The next step will be to choose Max Life Critical Illness and Disability rider for critical illness cover, over and above the base cover. The critical illness coverage under this Rider enhances your financial protection in case of unfortunate events such as a disability or being diagnosed with a life-threatening health condition. These optional benefits are available on payment of an additional premium.

    • Step Three

      Payment of Premium

      After selecting the plan along with critical illness cover, proceed to fill personal information and pay the premium*.

    • Step Four

      Fill out the Proposal Form

      Essentially, the proposal form for critical illness cover is a detailed version of your application form, which focuses on the information related to your life, such as your lifestyle habits (such as smoking and drinking) and medical history

    • Step Five

      Medical Tests

      Based on individual life-risk, a medical test may be proposed before offering critical illness coverage. Any such medical evaluation will be conducted after the successful completion of the proposal form and document submission.

    How Does the Critical Illness and disability rider Work?

    Max Life Critical Illness and Disability Rider (UIN 104B033V01) provide critical illness cover as per the selected variant. It works differently for different variants based on the diagnosis of various major and minor critical illnesses.

    Here is how it works to provide critical illness cover in different situations:

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    Diagnosis Benefit:

    When diagnosed with any of the listed critical illness or TPD, the insured can file a claim to get critical illness cover in the following manner:

    - For Variant 1 & 3:

    The critical illness cover includes an amount of Rs 5 lacs or 25% of the Rider sum assured (whichever is lower) for minor CI conditions covered under the Rider. In case of any major CI or TPD diagnosis, the insured receives 100% of Rider sum assured minus amount paid as minor CI claims if any.

    - For Variant 2 & 4:

    The critical illness coverage for minor CI conditions under these variants is the same as in the above case. For major CI conditions or TPD occurrence (whichever is earlier), the insured receives 100% of Rider sum assured minus minor CI claim paid if any as critical illness cover.

    - For Variant 5:

    In case of occurrence of TPD resulting from an illness or accident, the insured receives the Rider Sum assured on a valid TPD claim. This critical illness cover is payable during the rider term provided the Rider is active and in-force.

    How to file a claim for critical illness policy?

    A claim for critical illness can readily be processed based on a diagnostic report. You must contact your insurance carrier and register your claim if you wish to file a claim for your critical illness policy.

    To file a claim under a critical illness insurance plan, you will need the following documents:

    • Completed claim form
    • Photocopy of your identification card and NEFT details / copy of cancelled bank cheque
    • All pre and post hospitalization records
    • All consultation records pertaining to the current diagnosis.
    • All medical tests/ diagnostic reports confirming the diagnosis

    Once the information has been verified by the insurance carrier, you will receive the claim pay-out under the critical illness policy as per policy terms and conditions

    List of Illnesses Covered in Critical Illness Insurance

    At Max Life Insurance, we recommend comprehensive protection against all odds to keep you and your family financially healthy under any circumstances. This is one of the reasons why we provide the Max Life Critical Illness and Disability Rider. It’s a critical illness add-on that you may apply to many of our life insurance policies to gain comprehensive coverage.

    Under this add on to your life insurance plan, you can get critical illness and disability cover against the unfortunate diagnosis of up to 64 listed critical illnesses. Additionally, the critical illness policy also provides additional cover against permanent and total disability.

    What are the Critical Illness conditions covered under this Critical Illness Benefit rider?

    The Accelerated Critical Illness Benefit from Max Life Smart Term Plan covers the following 64 health conditions:

    1. Angioplasty
    2. CiS / Early Stage Cancer
    3. Small Bowel Transplant
    4. Brain Aneurysm Surgery or Cerebral Shunt Insertion
    5. Severe Osteoporosis
    6. Cancer of Specified Severity
    7. Myocardial Infraction (First Heart Attack of Specific Severity)
    8. Open Chest CABG
    9. Open Heart Replacement or Repair of Heart Valves
    10. Coma of Specified Severity
    11. Kidney Failure Requiring Regular Dialysis
    12. Stroke Resulting in Permanent Symptoms
    13. Major Organ /Bone Marrow Transplant
    14. Permanent Paralysis of Limbs
    15. Motor Neuron Disease with Permanent Symptoms
    16. Multiple Sclerosis with Persisting Symptoms
    17. Benign Brain Tumor
    18. Blindness
    19. Deafness
    20. End Stage Lung Failure
    21. End Stage Liver Failure
    22. Loss of Speech
    23. Loss of Limbs
    24. Major Head Trauma
    25. Primary (Idiopathic) Pulmonary Hypertension
    26. Third Degree Burns
    27. Alzheimer's Disease
    28. Parkinson's Disease
    29. Aorta Graft Surgery
    30. Amputation of Feet Due to Complications from Diabetes
    31. Apallic Syndrome
    32. Aplastic Anaemia
    33. Bacterial Meningitis
    34. Brain Surgery
    35. Cardiomyopathy
    36. Chronic Adrenal Insufficiency (Addison's Disease)
    37. Chronic Relapsing Pancreatitis
    38. Creutzfeldt-Jacob Disease (CJD)
    39. Crohn's Disease
    40. Dissecting Aortic Aneurysm
    41. Eisenmenger's Syndrome
    42. Elephantiasis
    43. Encephalitis
    44. Fulminant Viral Hepatitis
    45. Hemiplegia
    46. HIV due to Blood Transfusion/Occupationally Acquired HIV
    47. Infective Endocarditis
    48. Loss of Independent Existence (Cover up to Age 74)
    49. Loss of One Limb and One Eye
    50. Medullary Cystic Disease
    51. Muscular Dystrophy
    52. Myasthenia Gravis
    53. Myelofibrosis
    54. Necrotising Fasciitis
    55. Other Serious Coronary Artery Disease
    56. Pheochromocytoma
    57. Poliomyelitis
    58. Progressive Scleroderma
    59. Progressive Supranuclear Palsy
    60. Severe Rheumatoid Arthritis
    61. Severe Ulcerative Colitis
    62. Systemic Lupus Erythematosus with Lupus Nephritis
    63. Terminal Illness
    64. Tuberculosis Meningitis

    What are all documents required at the time of claim?

    Claim Form

    Duly filled and signed claim form

    Medical Certificate

    Medical Certificate that confirms that you have been diagnosed with a Critical Illness

    Certificate from Medical Practitioner

    Certificate from attending Medical Practitioner, which proves that your claim does not relate to any injury or pre-existing illness or any other illness (diagnosed within the first 90 days of purchasing the cover)

    Test Reports

    Investigation test reports that confirm the diagnosis as stated under the definition of the respective Critical Illnesses; First consultation letter and prescriptions, if any

    KYC Documents

    KYC documents like identity, age, address proofs etc.

    Specific Documents

    Detailed documents under the respective Critical Illness

    Others

    Copy of latest statement to confirm the principal outstanding, in case you have opted for the reducing balance Sum Insured variant of the term plan

    Why you should buy Critical Illness and disability rider

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    In general, the disability and accidental cover and critical illness insurance cover are two separate things. Accidental and disability cover provides a lump sum while you are recovering from an injury sustained in an accident.

    When you meet with an accident and suffer injuries or dismemberment, you are not able to return to your job immediately. In this scenario, the additional financial assistance from the accidental and disability cover helps you recover without any stress of not having a paycheck.

    On the other hand, a critical illness insurance cover provides you with a lump sum of money to support your lifestyle with a life-threatening health condition or illness-related disability. Thus, you can opt for the best possible treatment for the illness without compromising your health or savings.

    Under Max Life Critical Illness and Disability Rider, you can get comprehensive critical illness cover for both these eventualities in life. You need to select the right variants for critical illness cover under this Rider to receive complete financial assistance. This way, you can meet your household expenses and medical care that is not covered under your health insurance plan.

    How Important is it to Include Critical Illness Cover?

    In India, the number of new cases of cancer and other critical illnesses is steadily increasing. In 2018, the Indian Council of Medical Research's National Institute of Cancer Prevention and Research (ICMR-NICPR) released the India-specific data from Globocan (Global Cancer Observatory).

    It was reported that the number of cancer cases in the country has gone up by 15.7 percent since 2012, with a total of 11.57 lakh cancer cases reported in the year.

    Globocan reported that there had been a 12.2 percent increase in the total number of cancer-related deaths since 2012, with approximately 7,84,821 people dying from the health condition in 2018.

    Moreover, data presented by the Registrar General of India*, WHO (World Health Organisation), and Global Burden of Disease (GBD) shows that cardiovascular diseases (also known as CVD or heart-related health problems) are one of the leading causes of death and disability in the country.

    Between 2007 and 2017, while the increase in deaths (across all ages) due to CVD had been 49.8 percent, the increase in mortality rate due to Chronic obstructive pulmonary disease (or COPD), stroke and diabetes have been 39.4 percent, 37.1 percent, and 53.8 percent respectively.

    According to the Indian Heart Association^, almost 50% of all heart attacks in Indian men occur below 50 years of age, while men under 40 report 25% of all cases of heart attacks. Also, the male population in the country, between 30 to 74, is at a higher risk of cardiovascular diseases than the female population. While Indian women had a 12.7 percent risk of developing cardiovascular issues, approximately 21.4 percent of the males were at risk.

    Overall, the working population in India, between the ages of 30 to 74, is more prone to developing cardiovascular diseases and cancer. Other ailments, such as kidney failure, sclerosis, stroke, or paralysis, present a palpable risk to Indians, thus pressing the need for critical illness cover.

    Tax Benefits of Critical Illness & disability Insurance Cover

    The premium paid towards critical illness coverage qualifies for deduction under Section 80D of the Income Tax Act, 1961. The following table depicts the tax benefits you can avail on the premium paid towards the critical illness insurance cover:

    Premium Paid for Critical Illness Cover for

    DescriptionSelf, spouse, and dependent childrenParentsMax Deduction U/S 80D
    Everyone is below 60 years of ageRs. 25,000Rs. 25,000Rs. 50,000
    When your parents have crossed the age of 60Rs. 25,000Rs. 50,000 (incl. Expenses)Rs. 75,000
    You and your parents have passed the age of 60Rs. 25,000Rs. 50,000 (incl. Expenses)Rs. 1,00,000

    • You will need to fill out the following information and make the payment:

      1. Income, education, and profession details
      1. Nominee details
      1. Present Address (where the medical test will be conducted)

    You have the option to pay the premium online using net banking, debit or credit card

    FAQs

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    Paying the premium on time is essential to continue protection under critical illness insurance cover. In case you miss out on the payment of premiums, you can risk forfeiting the plan. While you may not skip paying the premiums willingly, you may be unable to make timely payments in certain situations. For example, if you suffer income loss due to a Critical Illness, accidental dismemberment, or death, you could miss paying the premium and lose out on the insurance coverage. To avoid any such instances, you can opt for the Waiver of Premium Plus Rider (UIN 104B029V03) along with the Critical Illness cover.Under this Rider, all future premium payments will be waived off by the insurance company. Thus, even if you cannot continue paying the premiums, your critical illness cover continues to act as your safety net.

    Corporate health plans are not enough to protect you with a critical illness insurance cover. It is because most individuals do not spend their entire lives working with the same employer.

    Also, chances are you may change jobs, only to find that your new employer does not offer a health plan or critical illness insurance cover. Similarly, you may start your own business, which would mean that there would be no employer benefits for you.

    A medical emergency can occur at any time, and in case you do not have a critical illness insurance cover, you would have to pay for the treatment costs from your pocket.

    Max Life Critical Illness and Disability Rider offer critical illness cover for protection against the unfortunate diagnosis of various critical illnesses. The complete range of benefits under its critical illness coverage depends on the chosen variant.

    *For the complete list of features and exceptions, please refer to the Critical Illness and Disability rider prospectus.

    Buying critical illness insurance cover with our life insurance products is not an expensive affair. The cost depends on the chosen Rider sum assured, age, health condition, and similar other factors

    Here is a list of our insurance products available online with which you can add Max Life Critical Illness and Disability Rider to get critical illness cover:

    1. Max Life Online Term Plan Plus
    2. Max Life Smart Term Plan
    3. Max Life Smart Wealth Plan

    You can avail this rider on other offline products as well. Please refer to rider prospectus for details.

    Being human is more than just what your daily mundane makes it out to be. In the prime years of your lives, you spend time preparing for your career or business. But not everyone plans for what matters the most – health. Unknowingly, you become victim to various lifestyle ailments or critical illnesses. The recent data shows more than 61% of deaths occurred in 2017 because of lifestyle-related non-communicable diseases.

    Serious medical disorders are referred to as critical illnesses. A critical sickness refers to a specific serious accident, illness, or medical crisis.

    Life insurance and critical illness insurance serve distinct purposes. Critical illness insurance pays out a predetermined sum if the policyholder is diagnosed with a health condition specified in the policy’s conditions, whereas life insurance pays out in case of the policyholder’s untimely demise during the policy period.

    Following documents are required for critical illness claim:

    • Duly filed and signed Claim form
    • Medical certificate, which confirms your critical illness diagnosis
    • Certificate from Medical Practitioner that confirms that your claim does not relate to any injury or pre existing illness (diagnosed within the first 90 days of purchasing the cover)
    • Test reports (investigation test reports that confirms your diagnosis
    KYC documents
    • Identity proof
    • Address proof
    • Detailed documents under the critical illness
    • Other documents like copy of last statement to check the principal amount outstanding
    • Any additional necessary documents that the insurance provider requests

    It is best to consider personal factors such as your monthly expenses, liabilities, cost of treatment, medical history, etc., to determine the adequate amount of critical illness cover you may need.

    If you’ve had cancer, you might be able to get Critical Illness Insurance. This, however, will be determined by a number of medical considerations, including the cancer’s intensity and stage, as well as whether or not lymph nodes were involved.

    A medical check may be recommended before you can be covered under a critical illness policy, depending on the individual’s life risk. When the proposal form and paperwork have been successfully submitted, any such medical evaluation will take place.

    Cancer, Coronary Artery (Bypass) Surgery, Renal Failure, Heart Attack, Major Organ Transplantation, Primary Pulmonary Arterial Hypertension and Multiple Sclerosis are some examples of critical illnesses.

    Critical illness insurance is a highly recommended purchase as it offers you a lump-sum amount to manage the health costs in case you are diagnosed with a critical illness. If you are someone who has a history of critical illness in the family or are over the age of 40, buying critical illness insurance is a smart choice.

    You should be at least 18 years of age to buy critical illness insurance. You must also have a basic insurance policy, on top of which you can buy the critical illness rider. You would need to pass the medical tests as required by the insurer.

    Yes, you would be required to undergo medical tests to enrol yourself for critical illness cover. The medical assessment would be conducted after the successful submission of the documents and proposal form.

    The sum insured of critical illness insurance cover depends on your health cover needs. You can access your medical requirements and choose a critical illness insurance cover accordingly.

    No, one cannot take multiple claims under Critical Illness Cover. A critical illness rider gives you a lump sum payout, after which the coverage is terminated. You can always consider buying a new cover if you want to continue getting the benefits of the critical illness cover.

    ARN NO: PCP/CI/200223

    Check out the different Online Insurance Plans from Max Life!

    • Max Life Smart Secure Plus Plan

      Comprehensive death benefit for your family member(s) in case of your unfortunate demise during policy term

      Guaranteed maturity benefits/Income Benefit and accrued guaranteed additions to help meet your life goals

      Multiple variants - lumpsum; short term income, long term income, and whole life income with unique benefits

      Know more
    • Max Life Smart Term Plan

      Financial protection against critical illnesses, including heart attack, cancer, and kidney failure

      Flexibility to choose the most suitable premium payment options that fits your budget and income

      Life coverage along with return of premium option to get the premiums paid back as a survival benefit

      Know more
    • Max Life Online Savings Plan

      Comprehensive death benefit covering the policy tenure, along with saving money for various life goals

      Monthly income, accrued bonuses, and flexible fund options for the policyholders with no policy charges

      Flexibility to choose a policy term up to 85 years, premium payment term and payouts to fit your needs

      Know more
    • Max Life Cancer Insurance Plan

      A comprehensive Cancer Insurance Plan that provides a payout at all stages of Cancer

      Get 10% increase in original sum assured in case of no claims for the first 5 years

      20% of Sum Insured - Waiver of premium, in early stage diagnosis

      Lumpsum payout - annual income for 5 years in major stage diagnosis

      Tax benefit under section 800, as per prevailing tax laws

      Know more
    • Max Life Smart Wealth Plan

      Comprehensive death benefit for your family member(s) in case of your unfortunate demise during policy term

      Guaranteed maturity benefits/Income Benefit and accrued guaranteed additions to help meet your life goals

      Multiple variants -lumpsum, short term income, long term. income, and whole life Income with unique benefits

      Know more
    • Long Term Income

      Guaranteed Income benefit for 25 or 30 years after the policy period ends, as per the sub variant selected

      Terminal benefit which equals total premiums paid, post completion of the payout period payable to nominee

      Two premium payment options - 6 and 10 years to be chosen as per suitability of the plan for your needs

      Know more
    • Term Plan with Return of Premium

      Option to receive the premiums paid back on successful survival of the insured till end of policy term

      Death benefits for your family members in case of any eventuality leading to the loss of your life

      Limited pay options to pay for term plans with return of premium - 5 Pay, 10 Pay, 12 Pay, 15 Pay, or 60 Pay

      Know more
    • Max Life Critical Illness and Disability Rider

      Additional protection against upto 64 critical illnesses depending on the rider variant you select

      Total and Permanent Disability Cover on the occurrence of disability arising from sickness or injury

      Wellness benefit to avail a discount on annualised renewal premiums as per healthy weeks you accumulate

      Know more
    • Max Life Waiver of Premium Plus Rider

      Waiver of all future premiums in case of the covered dismemberment so that you can live worry-free

      Future premiums waiver in case you suffer from critical illnesses as specified in the rider terms

      Continued benefits of the base policy to give you peace of mind about maintaining various life expenses

      Know more

    Media Center

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    With Covid fears down, people focus on kids’ goals, buying term plans, as per the latest Max Life IPQ 4.0 survey.

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    Max Life Insurance Company Ltd. in partnership with Kantar, on Thursday, launched the fourth edition of the India Protection Quotient survey (IPQ). Conducted entirely online, the India Protection Quotient 4.0 surveyed 5,729 respondents across 25 Indian cities, between 10 December 2021 to 14 January 2022.

    Read More

    India's awareness towards life insurance grew significantly over the last two years due to COVID-19, and the need for financial security has gained priority among people, according to Max Life's annual flagship survey.

    Read More

    Indians are buying more term plans now as term insurance ownership has gone up to 43 per cent from 39 per cent last year, revealed the India Protection Quotient (IPQ) survey 4. This is despite life insurance ownership remaining unchanged at 78, signifying the fact that consumers are now diversifying their insurance holdings and building a holistic portfolio.

    Read More

    Customer Reviews

    Max Life Term Plan

    “I opted for this term plan fom Max Life basis my past experience with them. All required details were easily avaialble on website. I would rate the overall purchase as 9/10. ”

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    Get Yourself Covered for 64 Critical Illnesses@>

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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.