This question has been looked at in depth here before,
The MAX CARE policy is EXCLUSIONARY, that means if it's not SPECIFICALLY EXCLUDED, it's covered.
The ADDED CARE and POWERTRAIN CARE are INCLUSIONARY, meaning if it's not SPECIFICALLY INCLUDED, it's not covered.
To add to this confusion, there are "sample lists" for the MAX CARE to illustrate how many thousands of parts are covered. This list is not complete, and just because something isn't on it does not indicate it isn't covered.
YES AIR SUSPENSION IS COVERED.
The only items not covered are bodywork, glass, soft trim, wear items (pads, rotors, plugs, filters, fluids, NON LED bulbs, belts, body(but not glass) seals, accident damage, worn out shocks..but leaking shocks are covered.
Also, before the forum lawyers chime in with "well, they'll just say my transmission wore out!", they won't. Wear items are clearly defined as above.
I have significant personal experience with MAX CARE. I do my own maintainance, and every time I saw the slightest seepage(not even a leak), I had it repaired without a problem. For instance, nobobdy would pay to have a rear main seal replaced for barely noticeable seepage, but I had it taken care of without a hitch.
The plan on my 02 WJ paid for itself 5 times over, and with 100,000 on a Jeep(!), had not a single thing in need of repair, thanks to the extended warranty.
I've had repairs while vacationing in Canada (broken header @93k) without a problem, and was given a WK as a loaner.
One last note. Dealers are paid at the normal warranty rate from Chrysler for contract repairs (this is not an "insurance policy"). My father in law brought in his 04 WJ after I noticed rear main seepage, and they refused to repair it, saying it was too minor given the cost of repair. We didn't bother fighting them, even though no amount of seepage is considered within acceptable limits. We took it to another local dealer, who, like my dealer, was more than happy to do ANY work under the extended warranty, since that was a money maker for them. In fact, I would often come back to find that they had found and repaired issues I hadn't even noticed ("your alternater was making a squeeking noise, so we replaced it").
So the point is, just like some dealers will pout and refuse to price match on the extended warranty and make NO money rather than a small profit, some foolish dealers behave as though repairing under the service contract is coming out of their pocket. Unless their repair bays are always filled by people paying full retail for repairs, this is a very foolish way to run a business. The dealer I mentioned above went out of business last year, BTW.
This is a newly designed vehicle with many complex systems. A single out of warranty HVAC repair could cost as much as the $1700 warranty (Look up the broken blend door issue on the WJ. $30 part requiring $1500 in labor to replace). I'll bet the lifetime warranty program will not be available for new vehicles within a few years. It's going to be a money loser for Chrysler.
PS: I was never asked for maintianance logs, even when having differential repairs (noise) done at high mileage. That said, I've been told that repairs over $5,000 require pre-approval from Chrysler, who would probobly want to see some evidence of maintainance if there's a suspicion that neglect could be the cause. This is almost certainly going to be limited to engine and perhaps transmission replacement.
PPS: Certain coverages in the lifetime warranty are not "lifetime". Roadside assistance, paid rentals during repairs, and trip interruption all expire at 7 years/100k.