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Max Life Cancer Insurance Plan

What is the Plan all About?

Max Life Cancer Insurance Plan is a non linked and non traditional health plan which covers all stages of cancer. Fixed benefits defined in the policy are paid to the insured irrespective of the actual expenses on diagnosis of cancer of any stage along with income benefit. This plan provides coverage for top 20 cancer incidence in India.


What are the Key Features?

  • Covers all stages of Cancer
  • Lump sum Payout to cover medical expenses
  • All future premiums waived when diagnosed
  • Inbuilt Income Benefit at major stage of cancer
  • 10% increase in Sum Insured for every claim free year
  • Avail tax benefit under section 80 D of IT Act

What are the Plan Benefits?

Policy Benefits

    Lump sum Benefit

    • On Pre cancer stage, lump sum benefit of 20% of the indexed sum assured is payable.
    • On Early stage, lump sum benefit of 25% of the indexed sum assured is payable.
    • On the last stage, Lump sum Benefit of 100% of indexed Sum Insured, less pre cancer/Early Stage claim paid.

    Waiver of Premium Benefit

    Waiver of all future premiums in case insured being diagnosed at pre cancer or early stages of cancer.

    Income Benefit

    10% of Basic Sum Insured is payable for a tenure up to 5 years. The income benefit will be paid as and when due irrespective of the expiry of the policy term or in case of death of Policyholder. In case of death of Policyholder during income benefit payout period, the benefit will be paid to the Nominee/Legal heir.The benefit is applicable when the insured is diagnosed at a major stage of cancer.

    Death Benefit

    There is no death benefit payable under this plan.

    Maturity Benefit

    There is no maturity benefit payable under this plan.

    How the Plan Works?

    Let us understand the plan with the example of Mr. Bajaj

    Life Insured: Mr. Bajaj

    Age: 35 years

    Plan: Max Life Cancer Insurance Plan

    Term: till age 70

    Sum Insured: Rs 30 lakh

    Annual Premium: Rs 10.890

Value Added Benefits

    • Avail tax benefits u/s 80D as per IT Act, 1961 for premium paid for this plan.
    • Quick Claim Settlement.
    • Sum Insured increases at 10% for every claim free year up to the maximum of 150% Of the base Sum Insured.

Sub Limits

    • No Co pay/cost sharing is applicable.

Waiting Period Clause

    • Initial Waiting Period: No claim is admissible within a period of 90 days beginning on the Commencement Date or the Date of Reinstatement of the Policy.
    • Survival Period Waiting Period:Survival time period of 7 days is required from the date of diagnosis of Cancer for the claims to be eligible.

Product Snapshot

Factor Minimum Maximum
Age (as on last birthday) 25 Years 65 Years
Sum Assured 10 Lacs 50 Lacs
Cover Type - -
Policy Tenure 10 Years 40 Years
Grace Period 30 Days (15 Days For Monthly Mode) -
Freelook Period 15 Days/ 30 Days (for Distance Marketing Channel) From The Receipt Of The Policy -
Riders Nil -
Plan Type Online -


  • Immune Deficiency Syndrome (AIDS) or the presence of any Human Immuno-deficiency Virus (HIV).
  • Self-inflicted Injuries,etc.