Max New York Life LifeLine-Safety Net Plan | Eligibility & Key Benefits

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.

Eligibility –

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

Benefits –

Death Benefit In case of ill-timed event of the death of the life insured, the company shall pay the sum assured as particular 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 right away 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

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Tags: Health Insurance, insurance plan, Max New York Life