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Max Life Cancer Insurance Plan Overview

Key Features
Eligibility
Benefit Descriptions

Key features of Max Life Cancer Insurance Plan

The key features include:

A Comprehensive cancer insurance plan covering all stages of cancer with following benefits:
- Diagnosis of Carcinoma in Situ (CiS) – 20% of indexed sum insured + Waiver of all future premiums till end of policy term
- Diagnosis of Early stage cancer – 20% of indexed sum insured + Waiver of all future premiums till end of policy term
- Diagnosis of Major stage cancer – 100% of indexed sum insured less CiS/Early stage cancer claim paid + income benefit equals to 10% of basic sum insured is payable for a period of up to 5 years from next policy anniversary.
Indexation of Sum Insured 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 a maximum of 150% of the Basic Sum Insured at the start of the Policy.
Tax Benefit Tax benefits apply to the premiums paid and benefits received by the insured as per the prevailing tax laws.

Eligibility of Max Life Cancer Insurance Plan

Eligibility Criteria
Age of the Life Insured at Entry (age as on last birthday)	Minimum : 25 years Maximum : 65 years
Maximum Maturity Age of the Life Insured (age as on last birthday)	75 years
Premium Payment Term (PPT)	Regular, Premium Payment Term will be equal to Policy Term
Policy Term	Minimum – 10 Years Maximum – 40 Year
Policy Expiry Age (Maturity Age)	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.
Premium Paying Modes	The product allows annual, semi-annual, quarterly and monthly premium paying modes.
Minimum Annual Premium	Minimum Annual Premium exclusive of modal extra, extra premium and taxes, cesses and levies as imposed by the government from time to time are as follows (for 25 year old and 10 lakhs sum insured): Online Channel – ₹1,700/- per annum Other Offline Channels – ₹1,960/- per annum
Maximum Annual Premium	Maximum Annual Premium exclusive of modal extra, extra premium and taxes, cesses and levies as imposed by the government from time to time are as follows (for 65 year old and 50 lakhs sum insured): Online Channel – ₹1,23,850/- per annum Other Offline Channels – ₹1,49,750/- per annum
Sum Insured	Minimum: ₹10 Lakhs Maximum: ₹50 Lakhs Please note that the Sum Insured can be chosen only in intervals of ` 5 Lakhs. You have option to select Sum Insured of ₹10 Lakhs, ₹15 Lakhs, ₹20 Lakhs, 25 Lakhs, ₹30 Lakhs, ₹35 Lakhs, ₹40 Lakhs, ₹45 Lakhs and ₹50 Lakhs. 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 a maximum of 150% of the Basic Sum Insured at the start of the Policy. Maximum Sum Insured under this plan will be ₹75 Lakhs after allowing in-built indexation benefit (subject to no claim during indexation period).

Benefit Description of Max Life Cancer Insurance Plan

Benefit Description

Product Benefit

Subject to the waiting period, survival period & exclusions under the plan, the product offers following benefits depending on stage of Cancer:

Lump sum benefit
Waiver of all future premiums
Income Benefit

Events	Early Stage Cancer or Carcinoma-inSitu (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 the 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 death of Policyholder during income benefit payout period, the benefit will be paid to the Nominee/Legal heir.

Please note that coverage under the policy will continue even after payment of Early Stage Cancer or CiS claim. This means that if diagnosed with Major stage cancer or another Early Stage Cancer or CiS in future, then benefit as mentioned above will be payable.

The insured can claim multiple instances of CiS or Early Stage Cancer claim till the total lump sum payment made on CiS or Early Stage Cancer claims made in the past does not exceed 100% of Indexed Sum Insured.

Waiting Period

180 Days waiting period is applicable from the date of commencement or reinstatement of cover whichever is later. For reinstatement cases, waiting period is only applicable if reinstatement happens post 90 days of date of last unpaid premium i.e. if the policy is revived within 90 days from date of last unpaid premium than no waiting period is applicable.

If Life Insured is diagnosed with CiS or Early stage cancer or Major stage cancer or dies during the waiting period, then no benefit is payable apart from refund of 100% of the premium paid since the date of commencement or reinstatement of policy (as the case may be) excluding all applicable taxes, cesses and levies as imposed by the government from time to time and late fee and/or interest payment paid on reinstatement.

Survival Period

Survival time period of 7 days is required from the date of diagnosis of Cancer for the claims to be eligible. A confirmed diagnosis or test leading to histo-pathological diagnosis of cancer must be performed when Life Insured is still alive for the eligibility of claim.

Death Benefit

No benefit is payable in the event of death of the Life Insured but if life insured dies within waiting period then 100% of the premium paid since the date of commencement or reinstatement of policy (as the case may be) excluding all applicable taxes, cesses and levies as imposed by the government from time to time is payable.

Maturity Benefit

No Maturity Benefit under this plan

Survival Benefit

There is no surrender benefit under this plan. The policy can be surrendered on your written request to us from the subsequent premium due date.

Indexation Benefit

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 a maximum of 150% of the Basic Sum Insured at the start of the Policy. For avoidance of doubt, once a CiS or Early Stage Cancer claim has been made, You would not be entitled to indexation benefits in the future.

Max Life Cancer Insurance Plan

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Max Life Cancer Insurance Plan Overview

Key features of Max Life Cancer Insurance Plan

Eligibility of Max Life Cancer Insurance Plan

Benefit Description of Max Life Cancer Insurance Plan

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