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Life Insurance

Max Life Cancer Insurance plan

Balance equity and debt exposure automatically; to grow wealth, secure it and fulfil your life’s goals

A Comprehensive cancer plan

Covering all stages of cancer

Lumpsum Payouts

To cover medical expenses across all stages

Waiver of premium

For entire policy term in case diagnosed with early stages of cancer

Income benefit

For 5 years in case diagnosed with major stage cancer along with lumpsum

Features and Benefits

Features Specifications
Type of Plan A Non Linked Non Participating Insurance Plan
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 Regular, Premium Payment Term will be equal to Policy Term.
Policy Term Minimum – 10 Years
Maximum – 40 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 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.
Annual Premium Minimum - Rs. 1,960/- per annum
Maximum - Rs. 1,49,750/- per annum
Sum Insured Minimum: Rs. 10 Lacs     Maximum: Rs. 50 Lacs
Please note that 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 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 Lacs after allowing in-built indexation benefit (subject to no claim during indexation period).
Maturity/Survival Benefit There is no Maturity/Survival 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 service tax and any other cess is payable.
Product Benefit Subject to the waiting period, survival period and exclusions under the plan, the product offers following benefits depending on stage of Cancer:Lump sum benefitWaiver of all future premiumsIncome Benefit
Events Early Stage Cancer or Major Stage Cancer 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 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 you are diagnosed with Major Stage Cancer or another Early Stage Cancer or CiS in future, then benefit as mentioned above will be payable.
You 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 do not exceed 100% of Indexed Sum Insured.Thereafter, only Income benefit will be payable on diagnosis of Major Stage Cancer as the entire lump sum benefit (100% of Indexed Sum Insured) has already been paid out on multiple incidence of CiS claim or Early Stage Cancer.
No claim will be paid again for the same CiS, or specified Early Stage Cancer for the same organ.
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 service tax along with any other cess 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

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, Gurgaon - 122002 (Haryana). IRDAI Registration No. – 104. For more details on the risk factors, Terms and Conditions, please read the sales brochure 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 Corporate Agent License 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.


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.

ARN :Max Life/Axis/Web Content/CIP/ July 2016




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