Max Lifeline Wellness Plus Plan

views

views

This plan has been withdrawn by the insurance company and is no longer available for sale.

Max Lifeline Wellness Plus Plan

Max Life Lifeline Wellness 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, 15 or 20 years as selected. Thus, this plan offers long term coverage facility. Premium is guaranteed for 5 years and revised after that.

In this plan, the Life Insured needs to select the Number of Units at Policy Inception. Units 1 to 10 represent Sum Assured of Rs 2 lakhs to Rs 20 lakhs.

This plan covers 38 Critical Illnesses which are divided into 3 groups according to the seriousness of the illness.

If the Life Insured acquires one of the Group 1 diseases, then 25% of the Sum Assured is paid as Immediate Claim and the Policy Continues for the remaining 75% of the Sum Assured.
If the Life Insured acquires one of the Group 2 diseases, then 50% of the Sum Assured is paid as Immediate Claim and the Policy Continues for the remaining 50% of the Sum Assured.
If the Life Insured acquires one of the Group 3 diseases, then 100% of the Sum Assured is paid and the policy is terminated.

__TERM_CALCULATOR__

Key Features of Max Lifeline Wellness Plus Insurance Plan

It is a Health Insurance Policy offered by Max New York Life Insurance Company
The Premium is guaranteed for a period of 5 years while coverage can continue for a maximum of 20 years
The maximum Sum Assured under this plan is Rs 20 lakhs
This Plan offers premium discount in case the policy is claim-free for first 5 years
This plan covers 38 Critical Illnesses
There are 3 groups according to the seriousness of the illness, where part of the claim is paid if the Life Insured is diagnosed with any of the specified Critical Illness but the policy continues for the remaining amount
Pre-existing diseases are not covered under this plan

Benefits you get from Max Lifeline Wellness Plus Insurance Policy

Death Benefit – There is no Death Benefit payable under this plan

Maturity Benefit – There is no Maturity Benefit under this plan.

Critical Illness Benefits— There are certain Critical Illness Benefits payable under this plan. They are divided into groups.

The List of Critical Illnesses covered under the 3 groups
Group 1	Group 2	Group 3
In case of Diagnosis, 25% of the Sum Assured is paid as Claim and the Policy Continues for the remaining Sum Assured	In case of Diagnosis, 50% of the Sum Assured is paid as Claim and the Policy Continues for the remaining Sum Assured	In case of Diagnosis, 100% of the Sum Assured is paid as Claim and the Policy is terminated
Alzheimer's Disease Blindness Deafness Loss of Speech Medullary Cystic Disease Motor Neuron Disease Muscular Dystrophy	Angioplasty and other Invasive Treatment for Coronary Artery Disease Benign Brain Tumor Cardiomyopathy End Stage Lung Disease Heart Attack Heart Valve Surgery Major Burns Multiple Sclerosis Multiple Trunk Avulsions of the Brachial Plexus Necrotizing Fascitiis Paralysis or Paraplegia Parkinson's Disease Primary Pulmonary Hypertension Poliomyelitis Systemic Lupus Erythematosus	Apallic Syndrome Aplastic Anaemia Brain Surgery Cancer Coma Coronary Artery By-pass Surgery Kidney Failure End- Stage Liver Disease Loss of Independent Existence Loss of Limbs Major Head trauma Major Organ Transplant Stroke Surgery of Aorta Terminal Illness Total Permanent Disability(to Age 65)

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 and other restrictions in Max Lifeline Wellness Plus Plan

	Minimum	Maximum
Sum Assured (in Rs.)	2,00,000	20,00,000
Policy Term (in years)	10, 15	20
Premium Payment Term (in years)	Equal to Policy Term
Entry Age of Policyholder (in years)	18	60
Age at Maturity (in years)	-	75
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 Wellness Plus Plan

The below illustration is for a healthy Male (non-tobacco user) opting for Sum Assured of Rs 20 lakhs for a Policy Term of 20 years.

Max Life Lifeline Wellness Plus Plan Sample Premiums

__CALLBACK_TEMPLATE__

What happens if?

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.

Max Lifeline Wellness Plus Plan

Leave a Comment