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Max Life Riders

Max Life Accidental Death and Dismemberment Rider

Get additional protection benefits in case of an accident leading to dismemberment or death

Comprehensive financial planning

With accidental death benefit & accidental dismemberment benefits.

Additional protection coverage in case of accidental death / disability

In case of unfortunate accidental death / disability

Benefits under this rider are payable over and above the base plan benefits

Are payable over and above the base plan benefits.

Features and Benefits

Type of Rider A Non-Linked Rider
Entry Ages Minimum Entry Age – 18 years (age as at last birthday)

Maximum Entry Age - 65 years (age as at last birthday)
Maximum Maturity Age On policy anniversary coinciding with or immediately following the

Policyholder attaining age of 70 years (as at last birthday)
Rider Term 5 years to 52 years. The term of the Rider shall be equal to or less than the Premium Payment Term of the base plan.
Premium Payment Term Equal to the Rider Term
Premium Payment Modes Annual, Semi-Annual, Quarterly, and Monthly

Please note that the premium payment mode will be the same as the base plan. The applicable modal factors are as below:
Mode Modal Factors
Annual 1.000
Semi-annual 0.520
Quarterly 0.265
Monthly 0.090
Minimum Premium Rs. 50 per annum (excluding loading for modal extra and underwriting extra premium, if any and excluding Service Tax and Applicable Cesses)
Maximum Premium Rs. 10,000 per annum (excluding loading for modal extra and underwriting extra premium, if any and excluding Service Tax and Applicable Cesses)

The Rider Premium (including extra premium, if any) shall, in no case, exceed

• 100% of premiums payable under the base policy when attached to a term plan

• 15% of premiums payable under the base policy when attached to a pension plan

• 30% of premiums payable under the base policy when attached to any other plan (other than Term Plan and Pension Plan)
Minimum Sum Assured Rs. 50,000
Maximum Sum Assured Lower of Guaranteed Death Benefit at inception of the base policy or Rs. 1 Crore per life (subject to the maximum Guaranteed Death Benefit at inception under the base plan).
Premium Rate (per annum) (Rs./Lac) Rs. 100 per Lac of Sum Assured. The premium rate does not vary with the age or gender of the Life Insured.
Cash Value This rider does not offer any cash value.

For more details on Revival Conditions, Non-forfeiture and Termination of the Rider, please refer to the Rider Brochure available at www.maxlifeinsurance.com

This Rider is offered and underwritten by Max Life Insurance Co. Ltd. Life Insurance coverage is available in this Rider. 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 detailed product and rider brochures (available at www.maxlifeinsurance.com) 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

This Rider is offered and underwritten by Max Life Insurance Co. Ltd. Life Insurance coverage is available in this Rider. The Life Insurance contract is between the Proposer and Max Life Insurance Co. Ltd.

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.


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.

ARN : Max Life/Axis/Website/Content/ADD Rider/ July 2016

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