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Life Insurance

Max Life Cancer Insurance plan

(UIN: 104N093V02)
A Non-Linked Non-Participating Insurance Plan

A Comprehensive cancer insurance plan covering all stages of cancer

Indexation of Sum Insured which increases Sum Insured up to 150% of Basic Sum Insured

Income Benefit on diagnosis of Major Stage Cancer, along with lump sum

Tax Benefits as per prevailing Tax Laws

Features and Benefits

Plan at a glance
Features Max Life Cancer Insurance Plan
Type of Plan A Non Linked Non Participating Insurance Plan
Coverage All individuals in accordance with Board approved underwriting policy of the Company.
Entry Ages
(Age as on last birthday)
Minimum – 25 Years
Maximum – 65 Years
Maximum Maturity Age
(Age as on last birthday)
75 years
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:-
Coverage till age:
55 Years; 60 Years; 65 Years; 70 Years; 75 Years
Policy term = opted policy expiry age less Entry Age
Policy Term Minimum – 10 Years
Minimum – 40 Years
Premium Payment Term Regular, Premium Payment Term will be equal to Policy Term
Premium Payment Mode Annual, Semi-annual, Quarterly and Monthly
Minimum Annual Premium Minimum Annual Premium exclusive of modal extra, extra premium and all applicable taxes, cesses and levies as imposed by the Government, are as follows (for 25 year old and 10 lakhs sum insured):
Online Channel – Rs. 1,700 p.a.
Other offline channels – Rs. 1960 p.a.
Maximum Annualised Premium Maximum Annual Premium exclusive of modal extra, extra premium all applicable taxes, cesses and levies as imposed by the Government, are as follows (for 65 year old and 50 lakh sum insured):-
Online Channel – Rs. 1,23,850/- p.a.
Other Offline Channels – Rs. 1,49,750/- p.a.
Sum Insured Minimum: Rs. 10 Lakhs
Maximum: Rs. 50 Lakhs
Please note that the Sum Insured can be chosen only in intervals of Rs. 5 Lakhs. You have option to select Sum Insured of Rs. 10 Lakhs, Rs. 15 Lakhs, Rs. 20 Lakhs, Rs. 25 Lakhs, Rs. 30 Lakhs, Rs. 35 Lakhs, Rs. 40 Lakhs, Rs. 45 Lakhs and Rs. 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 Rs. 75 Lakhs after allowing in-built indexation benefit (subject to no claim during indexation period).
Maturity Benefit There is no Maturity Benefit under this plan
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 is payable
Survival Benefit There is no Survival Benefit under this plan
Surrender 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. E.g.: Consider a Policy with Basic Sum Insured of Rs. 10 lakhs. If Life Insured does not make any claim in the first 3 years then the Sum Insured will increase by 30% (10% on each policy anniversary) to Rs. 13 lakhs at the end of year 3. Now, if Life Insured claims for an Early/CiS claim in year 4, the Sum Insured will not increase thereafter and Indexed Sum Insured will remain to be Rs. 13 lakhs throughout the remaining term of policy and CiS/Early claim benefit will be payable on this indexed sum assured.
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 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
Any loading applicable on premiums As per the Board approved Underwriting Policy of the Company
Exclusions The Company will not pay any benefit under this policy in respect of any Cancer resulting directly or indirectly from or in respect of any of the following:
  • Pre-existing condition: Defined as a cancer condition (primary or metastatic); pre-cancerous condition or related condition(s) for which the insured had signs or symptoms, and/or was diagnosed, and/or received medical advice/treatment within 48 months prior to the date on which the policy was issued or reinstated whichever is later. Please note that pre-existing condition not related to cancer will not be excluded
  • Caused or contributed by (in whole or in part) Sexually Transmitted Diseases AIDS or HIV
  • Caused or contributed by (in whole or in part) any of the following
    • Intoxication by alcohol or narcotics or drugs not prescribed by a Registered Medical Practitioner
    • Nuclear, biological or chemical contamination (NBC) Claims documents from outside India are only acceptable in English language unless specifically agreed otherwise and duly authenticated
Tax benefit You may be entitled to certain applicable tax benefits on your premiums and Policy benefits. Please note that 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 change in tax laws
Free Look Period You have a period of 15 days (30 days if the policy is sourced through Distance Marketing modes) from the date of receipt of the Policy document, to review the terms and conditions of the Policy, where if the Policyholder disagrees to any of those terms and conditions, he/she has the option to return the Policy stating the reasons for objection. The Policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the Life Insured and stamp duty charges.

This 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.

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 the 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. For further details, call Toll free number 1800 200 4006

Axis Bank Limited is the Corporate Agent of Max Life Insurance Co. Ltd. Axis Bank Limited, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025. IRDAI Certificate Regn No.: CA0069. The purchase of a Max Life Insurance product by Axis Bank's customer is purely on a voluntary basis. As Axis 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/Axis/Web Content/CIP/ 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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