LIC of India
LIC's Cancer Cover Policy

LIC's Cancer Cover Plan

LIC’s Cancer Cover (Plan No. 905, UIN No. 512N314V03)  is a Non-linked, Non-participating, Regular Premium 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. This product was launched on 26th April 2023. The plan offers two benefit options wherein the policy-seeker has the flexibility to choose the type of Sum Insured at the inception. The options should be chosen carefully depending on the individual’s specific needs, as the premium & benefits under the plan shall vary as per the option chosen, and the same shall not be altered later. 

Eligibility Criteria

Age at entryMinimum – 20 years, Maximum – 65 years
Policy termMinimum – 10 years, Maximum – 30 years
Age at maturityMinimum – 50 years, Maximum – 75 years
Minimum premium amountRs. 5000 per annum 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 insuredRs. 50 lakhs
Free look period30 days

Benefits of LIC Cancer Cover Plan

This policy offers a sack full of benefits and facilities. Some of the important mentions are as followings.

Two Benefit Options:

The details are:

  • Level Sum Insured (Option I): The Basic Sum Insured shall remain unchanged throughout the policy term.
  • Increasing Sum Insured (Option II): The Sum Insured increases by 10% of the Basic Sum Insured each year for the first five years, starting from the first policy anniversary or until the diagnosis of the first event of Cancer, whichever is earlier. On diagnosis of any specified Cancer, all the claims shall be based on the Increased Sum Insured at the policy anniversary coinciding or prior to the diagnosis of the first claim, and further increases to this Sum Insured will not be applicable.

Early-Stage Cancer:

Benefits payable on the first diagnosis of any one of the specified Early-Stage Cancers, provided the same is admissible, are –

  • Lump sum benefit: 25% of the Applicable Sum Insured shall be payable.
  • Premium Waiver Benefit: Premiums for the next three policy years, or balance policy term, whichever is lower, shall be waived from the policy anniversary coinciding with or following the date of diagnosis.

Major Stage Cancer:

Benefits payable on the first diagnosis of the specified Major Stage Cancer, provided the same is admissible, are-

  • Lump Sum: 100% of the Applicable Sum Insured, less any previously paid claims in respect of Early-Stage Cancer, shall be payable.
  • Income Benefit: In addition to the above lump sum benefit, an Income Benefit of 1% of the Applicable Sum Insured shall be payable on each policy month following the payment of the Lump Sum for a fixed period of the next ten years, irrespective of the survival of the Life Insured and even if this period of 10 years goes beyond the policy term. In case of death of the Life Assured while receiving this Income Benefit, the remaining payouts, if any, will be paid to his/her nominee.
  • Premium Waiver Benefit: All future premiums shall be waived from the next policy anniversary, and the policy shall be free from all liabilities except to the extent of Income Benefit as specified above.

Payment of Premiums:

Premiums can be paid regularly during the policy term at yearly or half-yearly intervals.

What is the revival of the LIC Cancer Cover Plan?

If premiums are not paid by the end of the grace period, then the policy will lapse. A lapsed policy can be revived during the lifetime of the Life Assured but within a period of five consecutive years from the date of the first unpaid premium and before the date of maturity. The revival shall be effected on payment of all the arrears of premium(s) together with interest (compounding half-yearly) at such rate as fixed by the Corporation from time to time and on the satisfaction of Continued Insurability of the Life Assured. The Corporation, however, reserves the right to accept at original terms, accept with modified terms, or decline the revival of a discontinued policy. The revival of the discontinued policy shall take effect only after the same is approved, accepted and revival receipt is issued by the Corporation. The waiting period, survival period, and Exclusions will also apply to revival.

Exclusions of the LIC Cancer Cover Plan

The Corporation will not be liable to pay any of the benefits under this product and the policy will stand canceled, if the covered conditions result directly or indirectly from any of the following causes:

  • Any Pre-Existing Condition.
  • If the diagnosis of Cancer was made within 180 days from the date of issuance of policy or date of revival of risk cover, whichever is later.
  • For any medical condition or any medical procedure arising from the donation of any of Life Assured’s organs.
  • For any medical conditions suffered by the Life Assured or any medical procedure undergone by the Life Assured, if that medical condition or that medical procedure was caused directly or indirectly by alcohol or drug (except under the direction of a registered medical practitioner).
  • For any medical condition or any medical procedure arising from nuclear contamination, the radioactive, explosive, or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials, or accident arising from such nature.
  • The following are specifically excluded from all early-stage cancer benefits:
    1. All tumors are histologically described as benign, borderline malignant, or low malignant potential.
    1. Dysplasia, intra-epithelial neoplasia, or squamous intra-epithelial lesions.
    1. Carcinoma in situ of skin and Melanoma in situ.

Illustration Of LIC Cancer Cover Plan

Mr. Mehta, a 36-year-old businessman, bought this plan for himself. Let us find out how much premium amount he has to pay for this plan for the given credentials.

Age36 years
Sum assuredRs. 50 lakhs
Payment modeYearly
Policy term15 years
Premium paying term15 years
Sum assured optionLevel Sum Assured
Total premi1umRs. 9602
Premium break-up

Base premium – Rs. 8137

GST – Rs. 1465

How can you buy LIC Cancer Cover Plan?

One can buy this plan online easily without any hassles by following the below steps carefully.

  • Go to the official website of the Life Insurance Corporation of India.
  • On the left side of the homepage, there will be the Buy Online option.
  • Click on that and a new page will open with multiple options for available online plans.
  • Among them, find the LIC’s Cancer Cover Plan and click on that.
  • You will be directed to a new page. There, click on the Click to Buy Online option.
  • A list of documents will appear before you. Take note of it, and click on the Proceed option.
  • On the next page, put covid-19 related information, and again click on the Proceed option.
  • After that, you need to put all the other required documents in the right place, such as name, date of birth, mobile number, email ID, etc., and click on the proceed option.
  • Put other required details such as policy term, sum assured option, premium payment term, etc. as requested by the company. Then, click on the Calculate Premium option.
  • On the basis of the given data, the premium amount will be calculated. Check all the details carefully.
  • If satisfied, pay the premium amount by choosing the most convenient option of payment available with the insurer.
  • Upon successful payment, notification regarding the same will be sent to the registered mobile number and/or email ID.

Apart from the online process, this policy can be purchased offline through Licensed agents, Corporate agents, Brokers, and Insurance Marketing Firms.

Documents required for buying this plan:

The following documents will be needed at the time of purchasing the LIC Cancer Cover Plan.

  • Photograph (Only JPEG format)
  • Signature (Only JPEG format)
  • Self-attested copy of any one address proof (Only PDF format)
  • Self-attested copies of income proof (Only in PDF format)
  • Self-attested copy of PAN card (Only PDF format)
  • Self-canceled cheque (Only PDF format)

Frequently Asked Questions

The following conditions are covered under the Early-Stage Cancer benefit:

  • Carcinoma-in-situ (CIS)
  • Prostate Cancer – early stage
  • Thyroid Cancer – early stage
  • Bladder Cancer – early stage
  • Chronic Lymphocytic Leukaemia – early stage
  • Cervical Intraepithelial Neoplasia

The benefits payable under the plan shall be based on the Applicable Sum Insured, where the Applicable Sum Insured shall be equal to:

  • The Basic Sum Insured for policies taken under Option I; or
  • Basic Sum Insured during the first year and Increased Sum Insured thereafter, as per the provisions detailed in Option II.

A waiting period of 180 days will apply from the date of issuance of the policy or the date of revival of risk cover, whichever is later, to the first diagnosis of any stage of cancer. 

Mode Loading is Nil for the yearly mode, but for the half-yearly mode, it is 2% of Tabular Premium. The high Sum Insured Rebate is Nil, and the Rebate for policies sold Online is 7% of the Tabular Premium.

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.

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