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Max Life Riders

Max Life Waiver of Premium Plus Rider

Ensure financial security for family, with future premiums waived off in case of death of the assured

Critical Illness Benefit

All future premiums under base policy waived off as a rider benefit for critical illness

Dismemberment Benefit

Future premiums under base policy and attached rider waived off

Death Benefit

Only if life insured and policyholder are different individuals

Minimum Premium

Rs. 2 per annum for age at entry of 18 years

Features and Benefits

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


You are planning for your family’s financial future and have made the right choice by purchasing a life insurance policy that ensures long-term savings and financial protection for your family. While you have taken the first important step, it is critical that the policy is continued for its entire term, in order to enjoy the policy benefits. However, in case of any unfortunate event, how can you ensure that the policy is continued and you and your family continue to avail its benefits as promised? Max Life Insurance understands this and which is why we offer you a rider to make your financial planning comprehensive.

By adding Max Life Waiver of Premium Plus Rider to your life insurance policy, you can avail waiver of all future premiums in case of dismemberment or diagnosis of eleven (11) specified critical illnesses to policyholder or death of the policyholder (if the policyholder is different from life insured).

Max Life Waiver of Premium Plus Rider provides waiver for all future premiums under a policy and all other attaching Riders on earlier happening of either of the following events, provided the base policy and attaching Riders are in force:

  • Critical Illness; or
  • Dismemberment; or
  • Death (only when Life Insured and Policyholder are different individuals)

In case of occurrence of any of the events mentioned above, the company will waive all future premiums under the base policy and all attaching Riders till the end of the base policy premium payment term or until the termination of the base policy due to happening of any insured event / surrender or till the end of policy anniversary on which the policyholder attains age 70 years, whichever is earlier.

The cover under this Rider will cease after a claim under this Rider is accepted and future premium(s) waived. However, the cover under the base plan and other Rider(s) will continue.

For the avoidance of doubt, the life on which risk is being covered (i.e. Life Insured) under the Waiver of Premium Plus Rider is the Policyholder of the base policy under both the cases:

  • If the Life Insured and Policyholder are same under the base policy
  • If the Life Insured and Policyholder are different individuals under the base policy

Critical Illness:

Following eleven (11) Critical Illnesses are covered under this Rider:

  • Cancer of specified severity
  • First heart attack – of specified severity
  • Open chest CABG
  • Open heart replacement or repair of heart valves
  • Coma of specified severity
  • Kidney failure requiring regular dialysis
  • Stroke resulting in permanent symptoms
  • Major organ / bone marrow transplant
  • Permanent paralysis of limbs
  • Motor neuron disease permanent symptoms
  • Multiple Sclerosis with persistency symptoms

For more details and definitions, please refer to the detailed Rider brochure available at


While the Base Policy and this Rider is in force, all future premiums payable for the base plan and the attached Rider will be waived off, in case policyholder being subject to one (or more) of the following impairments (due to injury or illness) which persists continuously for 180 days and deemed permanent in the opinion of a medical practitioner appointed by the Company:

  • Total and irrecoverable loss of entire sight in both eyes; or
  • Amputation or loss of use, of both hands, at or above the wrists; or
  • Amputation or loss of use, of both feet, at or above the ankles; or
  • Amputation or loss of use, of one hand at or above the wrist and one foot at or above the ankle

This Rider does not offer any Maturity Benefit

This Rider does not offer any Surrender Benefit

This Rider does not offer any cash value


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