Insurance Plans 327 views September 9, 2020

COVID-19 Rider of Max Life Insurance

The Coronavirus Pandemic has become a matter of concern for the whole country. There are more than 4 million cases in India of the COVID-19 cases. On the other hand, the treatment for the COVID-19 disease is also quite expensive and if you are a severe patient then you will have to be hospitalized in ICU. So, you can take a look at the COVID-19 Rider of Max Life Insurance that you can add to 12 different policies. You can add this rider to term plans, saving plans, and investment plans. There are 12 products of Max Life Insurance to which you can add this rider. Let’s see the features and benefits of this rider.

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Features of Max Life Insurance COVID-19 Rider

  1. Provides protection to the insured if he is diagnosed with COVID-19 positive.
  2. Affordable rates of Premium.
  3. The term of this rider is up to 1 year and you can extend it.
  4. Rs.271 is the annualized of this rider.
  5. You will get a Sum Assured of Rs.1 Lac in this rider.
  6. The minimum age of entry in this rider option is 18 years.
  7. 65 years is the maximum age of entry if you are adding this rider to the policy.

Benefits of Max Life Insurance COVID-19 Rider

Let’s explore the various benefits of this rider and how it can help you to fight against the Coronavirus disease.

COVID-19 Protection

You will get protection against the COVID-19 disease if you add this rider to the plan. Everyone knows that the treatment for the COVID-19 disease is quite expensive so if you are having a saving or investment plan then you must add this rider to it. You can also add this rider to the term plans of Max Life Insurance. The company will pay you 20% of the Sum Assured in the Rider if you are diagnosed with the COVID-19 disease.

Death Benefits

The nominee will get the death benefit as well if you add the COVID-19 rider to the plan. The nominee will get 100% of the Rider Sum Assured along with the diagnosis benefit that is 20% of the Rider Sum Assured if the person dies due to the Coronavirus disease. This amount will help the family to remain financially strong even after the death of the insured.

Large Sum Assured

You will get a Sum Assured of Rs.1 Lac in the COVID-19 Rider of Max Life Insurance. On the other hand, this large sum of money is available at an annualized premium of just Rs.271. So, you can enjoy great protection through this rider at just a nominal premium.

Flexible Age of Entry

You can add this rider to the term or saving plans at the age starting from 18 years and up to 65 years. It means that the minimum age of adding this rider to the policy is 18 years and the maximum age of adding this rider to the policy is 65 years.

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