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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 upto 64 critical illnesses, including kidney failure, cardiovascular diseases, etc.

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What is a Max Life Insurance Critical Illness Rider?

Max Life Insurance critical illness rider is an add-on benefit that you can include in your base life or term insurance plan to enhance the plan’s coverage. These riders can be added at nominal premiums, which can be paid along with the base premiums. With these riders, you can get long term protection against a variety of critical illnesses like stroke, heart attacks, kidney failure, and more.

Benefits of Max Life Insurance Critical Illness Rider

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

  • Financial Protection:

    In case the policyholder is diagnosed with a critical illness listed under the policy documents, the term insurance with critical illness rider can provide the additional benefit amount that the policyholder can use to pay off the hospital bills and medical costs.

  • Comprehensive Coverage:

    With the Max critical illness rider, you get coverage against a variety of critical illnesses. Thus, this way, in case the policyholder is diagnosed with any of the many critical illnesses covered under the plan, he/she will be eligible to receive the entire rider sum assured.

  • Income Replacement:

    In case the policyholder loses his/her job due to a critical illness, you can also use the payout amount to pay for your family’s monthly expenses like paying for rent or for the child’s fees. This is especially important if the policyholder is the main income earner of the family.

  • Additional Benefit Amount:

    Most people think they do not need a critical illness rider because they already have a health insurance plan. But, a critical illness rider provides additional coverage on top of the health insurance at nominal premiums, and in case of a critical illness, you can claim both health and critical illness rider for an additional financial benefit.

  • Pay for Expensive Bills:

    You can use the payout received from a critical illness rider to pay for the heavy hospital bills, medical costs, and expensive medications.

  • Tax Benefits:

    You can claim tax benefits with the critical illness rider under section 80D of the Income Tax Act, 1961 as per the prevailing tax laws.

  • Peace of Mind:

    The max life critical illness cover provides the policyholder with the necessary peace of mind knowing that they and their family can remain financially stable even if the policyholder is diagnosed with a critical illness. This rider also helps them out without having to dip into their savings and secure their savings for their other financial needs.

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Features of Max Critical Illness Rider

  • Cover against 64 critical illnesses

    Depending on the critical illness rider variant you select with your max life term plan, you can receive coverage against up to 64 critical illnesses of varying severity.

  • Flexible premium payments

    Pay the premiums at your convenience with regular and limited premium payment options. With the regular premium payment term, you can pay the premiums for the entire policy term, and with a limited premium payment term, you can be done with the premium payment after a few years.

  • Long term protection

    Max critical illness rider provides cover for a long term that can extend till 85 years of age. This means, till the age of 85, if you are diagnosed with a critical illness during the policy term, you will be eligible to receive the whole rider sum assured.

  • Hassle-free claims process:

    The claims process of max life critical illness rider is easy and hassle-free as all you have to do is submit the required documents along with the company’s duly filled claims form, and upon verification, the claim will be processed.

  • Total and permanent disability cover

    Some variants of the rider, like the max critical illness and disability rider, provide cover against critical illness and total and permanent disability during the policy term. This way, you can receive the coverage of two riders under one rider.

  • Max fit program

    The max fit program under the max critical illness and disability rider provides discounts on renewal premiums based on your monitored steps and health weeks accumulated in the max fit app.

What is Covered Under Max Life Insurance 64 Critical Illness List?

Let us take a look at the illnesses covered under the max life insurance critical illness list:

Muscular Dystrophy Eisenmenger's Syndrome Angioplasty Myasthenia Gravis End Stage Liver Failure Apallic Syndrome Severe Ulcerative Colitis
Kidney Failure Requiring Regular Dialysis Brain Aneurysm Surgery or Cerebral Shunt Insertion Amputation of Feet Due to Complications from Diabetes Stroke Resulting in Permanent Symptoms Loss of Speech Aplastic Anaemia Systemic Lupus Erythematosus with Lupus Nephritis
Myelofibrosis Encephalitis Small Bowel Transplant Major Organ /Bone Marrow Transplant Loss of Limbs Bacterial Meningitis Terminal Illness
Necrotising Fasciitis Fulminant Viral Hepatitis Elephantiasis Permanent Paralysis of Limbs Major Head Trauma Brain Surgery Tuberculosis Meningitis
Other Serious Coronary Artery Disease Hemiplegia Severe Osteoporosis Motor Neuron Disease with Permanent Symptoms Primary (Idiopathic) Pulmonary Hypertension Cardiomyopathy Medullary Cystic Disease
Myocardial Infarction (First Heart Attack of Specific Severity) HIV due to Blood Transfusion/Occupationally Acquired HIV Cancer of Specified Severity Multiple Sclerosis with Persisting Symptoms Open Heart Replacement or Heart Valves Reparation Chronic Adrenal Insufficiency (Addison's Disease) Loss of Independent Existence (Cover up to Age 74)
Poliomyelitis Infective Endocarditis Pheochromocytoma Benign Brain Tumour Alzheimer's Disease Chronic Relapsing Pancreatitis Coma of Specified Severity
Progressive Scleroderma End Stage Lung Failure Open Chest CABG CiS / Early Stage Cancer Parkinson's Disease Creutzfeldt-Jakob Disease (CJD) Severe Rheumatoid Arthritis
Progressive Supranuclear Palsy Loss of One Limb and One Eye Third Degree Burns Deafness Aorta Graft Surgery Crohn's Disease Blindness
Dissecting Aortic Aneurysm

*Note: You can firstly know about terminal illness meaning and then buy your preferred Max Life Term Plan that covers 64 critical illnesses.

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Eligibility for Max Life Insurance Critical Illness Plan

The eligibility for this life insurance plan is the same as the base policy:

Parameters Details
Entry Age 18-65 years
Maturity Age 85 years (Maximum) as per the policy T&Cs
Policy Tenure Minimum - 5 years
Maximum - 67 or the base policy term
Premium Paying Term Single Pay/ Regular Pay/ Limited Pay/ Pay till 60
Premium Paying Mode Yearly/ Half-yearly/ Quarterly/ Monthly
Grace Period 15 days (Monthly)
30 days (All other modes)
Sum Assured (Critical illness or CI Cover) Minimum Rs. 1 lakhs
Maximum: 50% of the Sum Assured or Rs. 1 Crore, whichever is lower
Liquidity NA

Who Should Buy Max Life Critical Illness Rider?

You cannot buy the max life critical illness rider by itself, it can only be purchased with a base plan. But there are several people who can benefit from this rider and can consider adding this to their base max life insurance plan:

Who should buy Reasons
People with Critical illnesses in the family history People with critical illnesses running in their family may want to purchase since there is a chance that they may be diagnosed with the same disease at some point
Women of all backgrounds Whether you are a working woman, housewife, or self-employed women, every woman is at the risk of contracting different types of women-specific cancers like breast and cervical cancer. Max critical illnesses provide cover against women-specific cancers as well.
Main Income Earners Critical illnesses can be unpredictable, and in case the main income earner loses their job because of the said illness, the entire family will have to suffer
People in high-risk jobs People in high risk jobs can have increased heart issues or stress, which may put them at a greater risk of contracting a critical illness
Individuals over the age of 40 People over the age of 40 should have a critical illness rider in their base plan since they have a higher chance of being diagnosed with a critical illness due to an increase in age

How to Buy Max Critical Illness Rider Online?

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

  • Step 1: Visit the term insurance page

  • Step 2: Fill in your name, date of birth, contact number, and gender

  • Step 3: Enter the required details about your smoking habits, occupation type, annual income, and educational background

  • Step 4: Select the most suitable max life term plan that offers a critical illness rider

  • Step 5: Proceed to pay

How to File Max Critical Illness Rider Claim Online?

You can file the max critical illness claim online by following the below steps:

  • Submit the claim form with the medical certificate stating the diagnosis of the covered critical illness.

  • Submit a non-relation certificate for the pre-existing illness or injury stating that your current critical illness is unrelated to the pre-existing illness.

  • Present the test reports of the respective critical illnesses that you have been diagnosed with.

  • Submit the latest KYC documents, statements, and other required documents.

Documents Required to File Max Life Critical Illness Rider

Here is a list of documents you need to submit to file for max critical illness cover:

  • Duly filled max life insurance’s claims form

  • Photocopy of IDs

  • NEFT details and cancelled cheque

  • All the hospitalisation documents

  • All the consultation documents related to the critical illness

  • Medical documents confirming the diagnosis of critical illness

Exclusions of Max Life Insurance Critical Illness Rider

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.

FAQs

  • Q: Does this provide the policy loan benefit?

    Ans: No, there is no policy loan benefit available under the Max Life Insurance Critical Illness Plan.
  • Q: What is the ‘Pay until 60’ option?

    Ans: Pay till 60 is an option that can be opted under Max Life Insurance Critical Illness Plan policy in which the policyholder would get a premium payment term equalling to 60 years minus the entry age; it is subject to a minimum PPT of 16 years and the entry age being equal to or less than 44 years.
  • Q: Does this plan offer revival of policy?

    Ans: Yes, a revival period is available to revive the lapsed Max Life Insurance Critical Illness policy status. A policy has a revival window of 5 years from the due date of the last unpaid premium or the end of the plan tenure, whichever is applicable.
  • Q: Why should this plan be bought?

    Ans: This plan is a unique feature that can easily be added to the base policy at a nominal cost. As per the Max Life Insurance Critical Illness Plan reviews, the coverage provided by this rider helps in securing the policyholder from financial strain if he/she suffers a critical illness.
  • Q: Is there any restriction on travel/future occupation under this plan?

    Ans: There is no restriction on travel/future occupation whatsoever under this plan.
  • Q: Is a Critical Illness plan costly?

    Ans: Max Life Insurance Critical Illness Plan surely comes at an extra cost, but it is a great option if an insured person wants to be protected from the hardships that might occur from critical illnesses.
  • Q: What are the documents required for claiming this rider?

    Ans: One needs to follow the following documents at the time of claim:
    • Filled-up claim form
    • Medical certificate
    • Test report
    • KYC documents (Age proof, Identity proof, Address proof, etc.)
    • Specific documents as required under the critical illness.
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