Max Life Group Critical Illness Rider

Life is unpredictable. And the fact that unfortunate events or misfortunes do not come with a notification, makes it even more difficult. Few incidents can leave a lasting mark and in extreme cases, leave your loved ones unattended as well. Thus, opting for a life insurance policy is one of the smartest things that you can do.

A life insurance plan will help you secure the future of your loved ones, even if you are not there for them. In the event something unfortunate takes place, your insurer will pass on the sum assured to the nominees of the policy. This will ensure that your loved ones do not face any financial instability and can continue with their life.

Riders

Even though life insurance policies offer adequate coverage for their policyholders, one might have additional needs or requirements from a life insurance policy. This is where riders come into the picture. With the help of a rider or add-on, you can enhance the capability of your policy several folds. By paying an additional premium, you can increase the scope of your life insurance policy. One prime example of the same is the Max Life group critical illness rider.

Max Life group critical illness rider acts as a supplement for the Group Insurance Policy, issued by Max Life Insurance. The rider comes into effect if the insured is diagnosed with any of the critical illnesses mentioned in the policy documents. In such an event, the insurer will pay the entire sum assured to the policyholder, provided the insured survives 30 days post the event. This includes the diagnosis of critical illnesses as well as operations that one might have to undergo.

Review Period

When you opt for the Max Life group critical illness rider, you get a period of 15 days to review the policy documents. If you are not happy with any of the terms or conditions of the policy, you can return the rider to the insurer and you are entitled to receive the entire rider amount as refund. It must be noted, that you will not be paid any interest for the duration and the insurer might deduct some charges related to stamps.

Critical Illness Covered

On opting for the Max Life group critical illness rider, you stand to receive coverage against the following critical illnesses.

1. Cancer
2. Myocardial Infraction
3. Paralysis
4. Stroke
5. Multiple Sclerosis
6. Coma
7. Replacement of heart valve
8. Failure of the kidney
9. Coronary bypass surgery
10. Major organ transplants

Validity

The Max Life group critical illness rider is valid till the base plan is active, the insured is still alive, the rider has not paid out 100% of the sum insured, the insured has not written to the insurer for cancellation of the rider, if the insured fails to pay the premium for the policy or the rider, etc. The policy does not cover certain conditions such as congenital diseases, HIV infection, intentional injury or pre-existing conditions. The critical illness rider can come in extremely handy for a family. The expenses related to any critical illness, be it the diagnosis or treatment can be extremely stressful on the finances. With this rider, you can concentrate on getting the best treatment, instead of worrying about gathering funds.