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Max Life Cancer Insurance Plan

Max Life Cancer Insurance Plan

Max Life Cancer Insurance Plan– A Non-Linked Non-Participating Insurance Plan (UIN – 104N093V02 )

Benefits under this plan –

Comprehensive Plan: A comprehensive cancer insurance plan covering all stages of cancer

Lump Sum Payout/s: Lump sum payouts to cover medical expenses across all stages. Waiver of all Future Premiums: Waiver of premium for entire Policy Term in case diagnosed with Carcinoma in Situ (CiS) or Early Stage Cancer

Income Benefit: Income Benefit for 5 years in case diagnosed with Major Stage Cancer along with lump sum

Indexation of Sum Insured: Sum Insured to increase by 10% (simple rate) for every claim free year upto a maximum of 150% of base Sum Insured

Tax Benefit: Tax benefit as per the prevailing tax laws.

Stages on cancer covered –

 

Events

Early Stage Cancer OR Carcinoma in situ (Cis)

Major Stage Cancer

Lump Sum benefit

20% of basic or indexed Sum Insured

( Whichever is applicable )

100% of basic or indexed Sum Insured

(whichever is applicable ) less prior cumulative lump sum payments on the event(s) of early stage Cancer or Carcinoma in Situ (Cis)

Waiver of premium benefit

All future premiums payable under the policy are waived off and the policy continues

Not Applicable

Income Benefit

Not Applicable

10% of basic Sum Insured is payable for a period of up to 5 years, payable annually on next five policy anniversaries following or coinciding with the date of diagnosis of Major Stage Cancer . The income benefit will be paid as and when due irrespective of the expiry of the policy term or in case of death of policyholder. In case of a death of policyholder during Income Benefit payout period , the benefit will be paid to the Nominee / legal heir

Key Features :

 

Feature

Specification

Coverage

All individuals in accordance with Board approved underwriting policy of the Company

Minimum / Maximum Age at Entry (age last birthday)

Minimum - 25 years Maximum - 65 years

Maximum Maturity Age (age last birthday)

You have option to choose from following options with respect to policy expiry term subject to minimum and maximum Policy Term as stated above at start of policy:-
Coverage till age:-
55 Years; 60 Years; 65 Years; 70 Years; 75 Years
Policy Term = opted policy expiry age less Entry Age.

Policy Term

Pick a Term from 10 to 40 years (in interval of 1 year), subject to Maximum Maturity Age i.e 75 years

Sum Insured

 

Minimum: Rs. 10 lacs

Maximum: Rs. 50 lacs

The Sum Insured can be chosen only in intervals of Rs 5 lacs. The product offers an inbuilt indexation benefit; where in the Sum Insured under the product increases by 10% (simple rate) on each Policy Anniversary till the time no claim has been admitted in the past; up to maximum of 150% of the basic Sum Insured at the start of the policy. Maximum Sum Insured under this plan will be Rs. 75 lacs after allowing inbuilt indexation benefit ( Subject to no claim during indexation period)

Premium Payment Modes

 

Annual, Semi – Annual, quarterly & monthly premium payment modes.

 

The premium payment mode can be changed during the premium payment term.

Disclaimers:

The Life Insurance product is offered and underwritten by Max Life Insurance Co. Ltd. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd. The purchase of a Max Life Insurance product by YES BANK's customer is purely on a voluntary basis.

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. Max Life Insurance Co. Ltd.11th Floor, DLF Square Building, Jacaranda Marg, DLF City Phase II, Gurugram- 122002 (Haryana). IRDAI Registration No. – 104. 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. Insurance is the subject matter of solicitation. Trade logos displayed belong to Max Financial Services Limited and Mitsui Sumitomo Insurance Co. Ltd. respectively and are used by Max Life Insurance Co. Ltd. under a license. For more details on the rider and the various terms and conditions, please refer to the Rider Prospectus(s) available at www.maxlifeinsurance.com. For further details, call Toll free number – 1800 200 5577

YES BANK Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Registered Office: YES BANK Limited, Nehru Centre, 9th Floor, Discovery of India, Dr. A.B. Road, Worli, Mumbai – 400 018. IRDAI Certificate Regn. No - CA0125.The purchase of a Max Life Insurance product by YES BANK’s customer is purely on a voluntary basis. As YES BANK is not in the business of insurance, there is no link either direct or indirect between the banking services offered by the bank to its customers and use of the insurance products.

ARN: Max Life/YBL/Cancer Insurance Plan /Web content/ Jan 2018

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS / FRAUDULENT OFFERS
IRDAI clarifies to public that

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.

  • IRDAI does not announce any bonus.

  • Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

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