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.
+Tax benefit is subject to changes in tax laws.
++All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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.
Parameters |
Details |
Policy Tenure |
Same as the base policy, that is, 10 years (Minimum), and 50 years (Maximum) |
Premium Paying Term |
Single Pay/ Regular Pay/ Limited Pay/ Pay till 60 |
Premium Paying Mode |
Yearly/ Half-yearly/ Quarterly/ Monthly |
Entry Age |
18-65 years |
Maturity Age |
75 years (Maximum) as per conditions |
Grace Period |
15 days (Monthly) 30 days (All other modes) |
Sum Assured (Critical illness or CI Cover) |
Minimum Rs. 5 lakhs Maximum: 50% of the Sum Assured or Rs. 50 lakhs, whichever is lower |
Liquidity |
NA |
The following are the key benefits offered by 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.
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.
The eligibility for the online Max Life Insurance Critical Illness Plan is the same as the base policy:
Entry Age: 18-65 years
The policy-buyer will be required to furnish the following documents:
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)
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.