5- Max New York Life insurance Co. Ltd - Critical Illness Insurance
LifeLine-Safety Net Plan
Just as life, it is important to insure one's health to live a peaceful life. Ironically, it is a well-known fact that lot of individuals are either uninsured or not insured at all. In spite of the rapid advancement of medical science, the expenses attached to various treatments are quite high. Everybody definitely needs health insurance coverage because illnesses if contracted can seriously impact finances and devour precious savings due to the absence of a good health cover. Therefore, it's important to get your health insured at the earliest and enjoy a hassle-free life. There is a vast variety of affordable health insurance plans in the market. However, it's up to you to choose the best possible health cover, which would suit your budget.
Recognizing the need for a complete all round financial protection for you and your family, Max New York Life Insurance Company offers you a term cum health insurance - LifeLine-Safety Net , the new age insurance covering death, disability, disease and accident under one single plan.
Eligibility Criteria
Criteria Eligibility
Minimum/ Maximum Age At entry 18 years to 60 years
Policy Term 10, 15, 20, 25 or 30 years
Maximum Cover Ceasing Age 75 years
Minimum Sum Assured Rs. 200,000
Maximum Sum Assured Rs. 40,00,000
Premium Guarantee 5 Years Premium is renewed every 5 years through the term of your plan
Death Benefit
In case of unfortunate event of the death of the life insured, the company shall pay the sum assured as specified in the schedule of the policy subject to deduction of Critical illness benefit if paid any.
Critical illness benefit
  • On the diagnosis of any of the critical illnesses (Cancer, Coma, Kidney Failure, Multiple Sclerosis, Heart Attack, Paralysis / Paraplegia and Stroke) or
  • On the actual undergoing of the surgery of Major organ transplant, Coronary artery ,bypass surgery, Heart valve surgery, the company shall advance 50 % of the sum assured as specified in the schedule of the policy document, subject to the survival of the life insured for at least 28 (Twenty Eight) days after the happening of the such insured event
As this is an accelerated benefit, availing this will reduce the death benefit to be paid on death of Life Insured by 50%.
Total and Permanent Disability Benefit –
During the Policy term if the life insured meets with an accident which results in total and permanent disability within 180 days of the accident, the company shall pay an additional benefit of 50 % of the sum assured. This is an additional benefit over and above of other benefits.
If the life insured is engaged in any of the occupation which require to spend significant time being exposed to the risk factors associated with the type of occupation/ industry, the cover in respect of total and permanent disability shall immediately cease to apply irrespective of the fact whether
The life insured informed the company of the change in his occupation or industry or A total and permanent disability was not caused as a result of such exposure to risk factors associated with the type of occupation/ industry where the life insured was working.
Accidental Death Benefit If the life insured dies due to an accident, the Company shall pay an additional benefit equal to 100% of the sum assured as specified in the schedule.
Key Benefits
  • Comprehensive Insurance plan giving financial protection from :
      1. Death
      2. Critical Illness
      3. Total and Permanent Disability
      4. Accidental Death Benefit
  • 5 Years Premium Guarantee
  • High Coverage Tenure (Up to 30 Years)
  • Tax Benefit under section 80C