Max Lifeline MediCash Plus Plan
Max Lifeline MediCash Plus Plan is a Health Insurance policy. This is a Traditional, Non-Linked Insurance Plan without Bonus Facility.
How it works – In this plan, premium needs to be paid for the entire policy tenure of 10 years. Premium is guaranteed for 5 years and revised after that. Premium Discount is also given if the policy is claim free for the first 5 years.
In this plan, the Life Insured needs to select the Number of Units at Policy Inception. The various units have their own list of benefits attached. This plan being a pure Health Insurance Plan has a list of Health Insurance Benefits attached.
The overall benefits received are:
- Daily Hospitalization Cash Benefit for meeting hospitalization expenses
- ICU Cash Benefit for meeting additional expenses in case the Life Insured is admitted in the Intensive Care Unit.
- Recuperating Benefit is paid in a lumpsum. This benefit is applicable only in case of hospitalization for 7 or more consecutive days before discharge
- Surgical Benefit for major surgeries upto a certain limit per policy year
Key Features of MAX Lifeline MediCash Plus Insurance Plan
- It is a Health Insurance Policy offered by max New York Life Insurance Company
- Cashless Hospitalization benefit can be availed under this plan
- The benefits offered under this plan can be availed over and above any other health plan since only photocopies need to be submitted for claim purpose and not originals
- The Premium is guaranteed for a period of 5 years while coverage continues for 10 years
- This Plan offers premium discount in case the policy is claim-free for first 5 years
- This plan pays for Hospital Cash Benefit to meet daily expenses during hospitalization
- This plan pays for ICU Cash Benefit to meet additional expenses if Life Insured is admitted in the ICU
- For more than 7 days of hospitalization, 300% of the Daily Hospital Cash Benefit is paid in a lumpsum as Recuperating Cash Benefit
- Surgical Cash Benefit is also paid for more than 400 Major Surgeries, over and above all the benefits mentioned.
- Total Benefit of maximum of 50 days of Hospitalization of the life insured is payable in a policy year and 250 days in the entire tenure.
- Pre-existing disease is not covered under this plan
Benefits you get from MAX Lifeline MediCash Plus Insurance Policy
Death Benefit – There is no Death Benefit payable under this plan
Maturity Benefit – There is no Maturity Benefit under this plan.
Health Benefits — There are certain hospitalization benefits payable under this plan
|
Benefits
|
Unit 1
|
Unit 2
|
Unit 3
|
Unit 4
|
Unit 5
|
|
Daily Hospital Cash
|
1,000
|
2,000
|
3,000
|
4,000
|
5,000
|
|
Daily ICU Cash
|
2,000
|
4,000
|
6,000
|
8,000
|
10,000
|
|
Recuperating Cash (Lump-Sum)
|
3,000
|
6,000
|
9,000
|
12,000
|
15,000
|
|
Surgical Cash (Lump-Sum)
|
50,000
|
1,00,000
|
1,50,000
|
2,00,000
|
2,50,000
|
There is an additional Surgical Benefit, which will be reimbursed according to the actual surgery bill subject to a maximum of Rs 10,000 per year.
Income Tax Benefit – Health Insurance Premiums paid up to Rs. 15,000 are allowed as a deduction from the taxable income each year under section 80D.
Eligibility conditions & other restrictions in MAX Lifeline MediCash Plus Policy
|
|
Minimum
|
Maximum
|
|
Daily Hospitalization Benefit (in Rs.)
|
1,000
|
5,000
|
|
Policy Term (in years)
|
10
|
|
Premium Payment Term (in years)
|
Equal to Policy Term
|
|
Entry Age of Policyholder (in years)
|
18
|
55
|
|
Age at Maturity (in years)
|
-
|
65
|
|
Premium (in Rs.)
|
2,500 yearly and 1,300 half yearly
|
No Limit
|
|
Payment modes
|
Yearly and Half-Yearly only
|
Sample illustration of premium amount in MAX Lifeline MediCash Plus Plan
The below illustration is for a healthy Male (non-tobacco user) opting for
- Daily Hospitalization Cash Benefit of Rs. 5000
- ICU Cash Benefit of Rs. 10000 per day and
- Recuperating Benefit of Rs. 15000
- Surgical Benefit of up to Rs. 1,00,000 per policy year and 200% of the applicable maximum benefit over the term of the policy.
Additional Features and Benefits of MAX Lifeline MediCash Plus Plan
Riders – There are no additional Riders available in this plan
You stop paying the premium - If the policy holder stops paying the premium, then the policy would lapse after the grace period ends and all benefits would stop. If the policy is not revived within 6 months from the due date of the first unpaid premium, the policy would be terminated and no benefits would be payable.
You want to surrender the policy – There are no Surrender Benefits under this plan
You want a loan against your policy – Loan facility is not available under this policy.
