This is non-linked,
regular premium payment health insurance plan which provides fixed benefit in
case life assured is diagnosed with any of the specified early and/or major
stage cancer during the policy term, subject to certain terms and conditions.
The plan has two benefit options which have to be chosen by the proposer at the outset.
• Option 1: Level Sum Insured: The Basic Sum Assured remains same through out the term.
• Option 2: Increasing Sum Insured:10% increase in Sum assured for 1st 5 years or till diagnosis of specified cancer.
• Premium Payment Mode: Yearly, Halfly
• Minimum Entry Age: 20 Years (completed)
• Maximum Entry Age: 65 Years (last birthday)
• Minimum Policy Term: 10 years
• Maximum Policy Term: 30 years
• Minimum Sum Assured: Rs.10,00,000
• Maximum Sum Assured: Rs.50,00,000
Basic S.A. shall be in multiple of Rs.1,00,000
Minimum and Maximum cover ceasing age :
50 years and 75 years
Minimum Premium Rs.2400 p.a. for all modes.
LIC’s Cancer Cover Benefit Details
• A. Early stage cancer:
Payable once for the 1st ever event
i. Lumpsum 25% of applicable Sum Assured payable and
ii. Next 3 years premiums waived.
• B. Major Stage Cancer: i. Lumpsum 100% of
applicable Sum Assured payable minus any claim paid for A above if any.
ii. 1% of applicable Sum Assured guaranted payable for next 120 months. AND
iii. Waiver of future premiums. Maximum claim payable 220% of applicable sum assured.
• Surrendered Value: No surrender value will be available under the policy.
• Loan : No loan will be available under the policy.