New Delhi: Today (February 4) is World Cancer Day and the day is observed to raise awareness about cancer. For a safer and healthier tomorrow, there are several plans against the deadly disease --one sugh being LIC’s Cancer Cover.
LIC Cancer Cover is a regular premium payment health insurance plan which provides financial protection in case the Life Assured is diagnosed with any of the specified Early and/or Major Stage Cancer during the policy term. LIC’s Cancer Cover is a Non-Linked, Non-Participating, Individual, Health Insurance Plan.
World Cancer Day. pic.twitter.com/drdZFnyOlM
— LIC India Forever (@LICIndiaForever) February 4, 2021
The plan offers two benefit options wherein you have the flexibility to choose the type of Sum Insured at the inception.
Option I Level Sum Insured: The Basic Sum Insured shall remain unchanged throughout the policy term.
Option II Increasing Sum Insured: The Sum Insured increases by 10% of Basic Sum Insured each year for first five years starting from the first policy anniversary or until the diagnosis of first event of Cancer, whichever is earlier.
A waiting period of 180 days will apply from the date of issuance of policy or date of revival of risk cover, whichever is later, to the first diagnosis of any stage cancer. “Any stage” here means all stages of Cancer that occur during the waiting period.
|ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:|
|(a) Minimum age at entry: 20 years (completed)|
|(b) Maximum age at entry: 65 years (last birthday)|
|(c) Minimum Policy Term: 10 years|
|(d) Maximum Policy Term: 30 years|
|(e) Minimum age at maturity: 50 years|
|(f) Maximum age at maturity: 75 years|
|(g) Minimum Premium: Rs. 2400/- for all modes|
|(h) Minimum Basic Sum Insured: Rs.10,00,000|
|(i) Maximum Basic Sum Insured: Rs. 50,00,000|
The maximum Basic Sum Insured under this plan shall not exceed an overall limit of Rs.50 lakhs taking all existing Critical Illness Cover policies including Cancer Cover and the Cancer Cover Sum Insured under the new proposal into consideration.
The Basic Sum Insured shall be in multiples of Rs 1,00,000 only.
This policy shall not acquire any paid-up value. No surrender value will be available under this plan. No loan facility will be allowed under this plan, LIC brochure reads. For a detailed summary, you can refer to the LIC brochure.