LIC’s Cancer Cover is a non-linked, non-participating, regular premium health insurance plan designed to offer financial protection if the Life Assured is diagnosed with specified early and/or major stage cancer during the policy term.
This policy can be obtained through licensed agents, corporate agents, brokers, insurance marketing firms, and can also be purchased directly online via the website www.licindia.in.
The plan provides two benefit options, allowing you to choose the desired Sum Insured at the beginning of the policy.
LIC’s Cancer Cover Benefits
Early Stage Cancer
Benefits for the first diagnosis of specified Early Stage Cancers include:
(a) Lump sum benefit: 25% of the Applicable Sum Insured is paid.
(b) Premium Waiver Benefit: Premiums for the next three policy years or the remaining policy term (whichever is shorter) are waived from the policy anniversary coinciding with or following the diagnosis date.
Major Stage Cancer
(a) Lump Sum: 100% of the Applicable Sum Insured, minus prior Early Stage Cancer claims, is paid.
(b) Income Benefit: An additional 1% of the Applicable Sum Insured is paid each month for ten years after the lump sum, even if the Life Assured doesn’t survive this period. If the Life Assured passes away while receiving this benefit, any remaining payouts go to the nominee.
(c) Premium Waiver: All future premiums are waived from the next policy anniversary, except for the specified Income Benefit, which continues as described.
Eligibility Conditions
| Minimum age at entry | 20 years (completed) | |
| Maximum age at entry | 65 years (last birthday) | |
| Minimum Policy Term: | 10 years | |
| Maximum Policy Term | 30 years | |
| Minimum age at maturity | 50 years | |
| Maximum age at maturity | 75 years | |
| Minimum Premium | Rs. 5000/- p.a. for all modes | |
| Minimum Basic Sum Insured |
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| Maximum Basic Sum Insured | Rs. 50,00,000 | |
Exclusion:
The policy benefits will not be paid, and the policy will be canceled if the covered conditions are a result of the following causes:
(a) Any Pre-Existing Condition
(b) Diagnosis of Cancer within 180 days from the Date of Policy Issuance or Risk Cover Revival, whichever is later.
(c) Medical conditions or procedures related to organ donation by the Life Assured.
(d) Medical conditions or procedures caused directly or indirectly by alcohol or drugs (except when directed by a registered medical practitioner).
(e) Medical conditions or procedures arising from nuclear contamination, radioactive materials, explosive nuclear fuel, hazardous materials, or property contaminated by nuclear fuel materials or accidents related to such substances.
