Max Life Insurance Critical Illness Plan

Any illness that is fatal to the human body and even may cause death if not treated comes under Critical Illnesses. To counter this unfortunate fate of a human being, Max Life Insurance has come up with an option of online Max Life Insurance Critical Illness Plan Rider that provides coverage against 40 critical illnesses, including kidney failure, cardiovascular diseases, etc. Max Life Insurance Critical Illness Plan is a rider option that can be added to a base policy to enhance its coverage at a nominal cost.

Benefits of Max Life Insurance Critical Illness Plan

The following are the key benefits offered by Max Life Insurance Critical Illness Plan:

• Critical Illness Plan is an additional rider that enhances the financial coverage offered by the base policy
• This plan provides coverage against 40 critical and fatal illnesses, including kidney failure, cardiovascular diseases, cancer, and so on
• Accelerated Critical Illness (ACI) option pays out 100% of the sum assured of ACI
• Level Critical Illness option pays out a sum assured of a minimum of 5 Lakh and a maximum of 50% of the base sum assured or 50 lakhs, whichever is lower
• Tax benefits under Sec 80D of the IT Act(*Tax benefits are subject to change)

The Premium for Max Life Insurance Critical Illness Plan

Max Life Insurance Critical Illness Plan premium is payable in various Premium Payment Modes like yearly, half-yearly, quarterly, and monthly; and the payment terms come in four variants; namely Single Pay, Limited Pay, Regular Pay, and Pay till 60.

This rider ceases once the ACI benefit gets paid to the insured person. Post-termination, the base policy continues with a reduced sum assured amount.

Additional Riders for Max Life Insurance Critical Illness Plan

This plan is itself an additional rider, which aids in enhancing the coverage of the base policy. However, apart from this rider, other options are available, such as Accidental Cover, Premium Back Option, and Waiver of Premium, which helps provide quality coverage to the policyholder.

Eligibility for Max Life Insurance Critical Illness Plan

The eligibility for the online Max Life Insurance Critical Illness Plan is the same as the base policy:

Entry Age: 18-65 years

What are the Documents Required to Buy this Policy?

The policy-buyer will be required to furnish the following documents:

• Duly filled-up proposal/application form of Max Life Insurance Critical Illness Plan policy.
• Officially valid documents (voter's ID/ Aadhar card/ PAN card
• Utility Bills (electricity/ telephone/ post-paid mobile connection/ water/ piped-gas), in case the officially valid documents are not available
• Income Proof (bank statement/ Income Tax receipts)

How to Buy this Plan Online?

One can easily buy the Max Life Insurance Critical Illness Plan by following the simple steps given below:

Step 1: Visit the official website.

Step 2: Calculate the premium on Max Life Insurance Critical Illness Plan Calculator

Step 3: Enter the required details and click on 'calculate now.'

Step 4: Select the amount of life cover and policy tenure, as required

Step 5: Select the add-on option/riders of Max Life Insurance Critical Illness Plan

Step 6: Pay the premium

Step 7: Duly fill-up the proposal form

Step 8: Medical tests (if directed by the insurer)

Exclusions of Max Life Insurance Critical Illness Plan

Max Life Insurance Critical Illness Plan policy status would be considered terminated if the policyholder, sane or insane, commits suicide within 12 months from the plan's start. The nominee would be paid by the company refunds comprising the total paid premiums and underwriting extra paid premiums and loadings for paid modal premiums.