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Max Lifeline Wellness Plus Plan

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This plan has been withdrawn by the insurance company and is no longer available for sale.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

 

 

 

 

 

 

 

 

 

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.


 
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