Max Life Cancer Insurance Plan

Premium Payments Offered by the Max Life Cancer Insurance Plan:

Key Features of Max Life cancer Insurance Plan:

Late charges under Max Life cancer Insurance Plan:

Advantages and Benefits of Max Life Cancer Insurance Plan:

Comprehensive cancer insurance: Max Life Insurance Cancer Insurance Plan protects and supports cancer patients irrespective of the stage of cancer. 

For diagnosis of Carcinoma in Situ(CiS): Waiver of all future premiums till end of policy and 20% of indexed sum insured is allowed.For diagnosis of major stage cancer, 100% of the indexed sum insured minus the early stage cancer claim paid plus income benefit up to 10% of basic sum insured is paid upto 5 years from the next policy anniversary date.For diagnosis of early stage cancer, future premiums till the end of the policy is waived and and 20% of indexed sum insured.

Tax benefit: As per the laws pertaining to tax in India, tax benefit is given to the premiums paid and benefits received thereof.

Flexible maturity age: The insured person can choose the policy expiry term within the minimum and maximum policy period. The formula used to calculate the policy term is opted policy expiry age minus the entry age.

Death benefit: If the insured dies within the waiting period, 100% of the premium paid from the start of the policy or from the reinstatement date excluding the service tax is payable.

Restriction on travel and occupation: Please note that there is no restrictions on travelling abroad or taking up any future occupation as per the policy terms and conditions.

Free look up period: A policyholder gets upto 15 days to or upto 30 days if the policy id obtained through distance marketing modes to read the terms and conditions of the policy document. If the policyholder does not agree to any point mentioned, he/she can return the policy stating the reason. The policyholder will get a refund of any premium paid after deducting risk premium for the period of cover and expenses undertaken by the company on medical examination of the insured party.

Other things you should know about Max Life cancer Insurance Plan:

1. Please note that coverage will be active even after payment of early stage cancer or CiS claim.
2. You are allowed to make multiple claims or early stage cancer claim till the total claims amount does not exceed 100% of the indexed sum insured.
3. The diagnosis should be done by a registered independent medical practitioner.
4. No benefits will be payable if the policy is lapsed.
5. The insurer can cancel the policy on grounds of misrepresentation, fraud or non disclosure.
6. One can also choose to pay a Single Premium
7. The insured person can pay the premiums regularly using the following options -
   1. Annually
   2. Half - Yearly
   3. Quarterly
   4. Monthly

GST of 18% is applicable on life insurance effective from the 1st of July, 2017