Cancer cover

Features

• Customers have the option to choose the Sum Insured. The Sum Insured can be fixed, or it can be increased by 10% every year for the first 5 years.
• Early Stage Cancer: 25% of the applicable Sum Insured will be paid as a lump sum. Premiums for the next 3 policy years will be waived off.
• Major Stage Cancer: Upon the diagnosis of specified Major Stage Cancer, 100% of the applicable Sum Insured will be paid. However, if you have already claimed 25% of the applicable Sum Insured under Early Stage Cancer, the benefit will be limited to 75% of the applicable Sum Insured.
• Income Benefit: In addition to the above benefits, an Income Benefit of 1% of the Applicable Sum Insured will be paid every month following the lump sum payment under the Major Stage Cancer Benefit. This fixed Income Benefit will be paid monthly for the next 10 years, regardless of the survival of the Life Assured.
• Premium Waiver Benefit: All future premiums will be waived off upon the diagnosis of specified Major Stage Cancer.
• Waiting Period: A waiting period of 180 days will apply from the date of policy commencement or revival. This means that no benefit will be paid if any type of cancer is diagnosed within the first 180 days.
• Premium Guaranteed for 5 Years: The premiums are guaranteed for a period of 5 years from the policy issuance date. LIC reserves the right to revise the premium after 5 policy years.
• Tax Benefit: Premiums paid under this plan are eligible for tax benefits under section 80D of the Income Tax Ac