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.

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
  • Rs. 35,00,000 for ages 20 years to 34 years
  • Rs. 25,00,000 for ages 35 years to 40 years
  • Rs. 15,00,000 for ages 41 years to 65 years
  • 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.

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