The Special Health Insurance Plan from LIC of India is designed to cover the significant medical costs associated with cancer treatment. It offers set benefits in the event that a Life Assured is identified as having one of the listed Early and/or Major stages of Cancer during the period of the policy.
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Lump sum Benefit in case of diagnosis
When a cancer is diagnosed in the early stages, 25% of the applicable sum assured and 100% of the applicable sum assured, respectively, are payable right away.
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Premium Waiver Benefit
Early-stage cancer cases will not be subject to the three-year premium requirement or the remaining policy term, whichever is less.
In the event of a major stage of cancer, the premium for the remaining term of the policy shall be waived. -
Monthly Income Benefit
In addition to the lump sum payment, 1% of the applicable sum assured is paid each month for a predetermined period of 10 years in cases of major stage cancer
Plan Benefits
Tax Saving Under Section 80 D
Tension Free Life from Cancer Treatment
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Eligibility Conditions
- Benefits
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Other Benefits:
Minimum | Maximum | |
Age at Entry | 20 years (completed) | 65 years (last birthday) |
Policy Term | 10 years | 30 years |
cover ceasing age | 50 years | 75 years |
Basic Sum Insured | Rs.10,00,000/- | Rs.50,00,000/- |
Sum Assured In multiples of Rs.100,000/- only
Available Mode : Yearly and Half Yearly with Minimum Premium as Rs.2400/-p.a.for all modes
Condition | Early Stage Cancer | Major Stage Cancer |
Death Benefit | No any death benefit is payable on the death of any insured | No any death benefit is payable on the death of any insured |
Maturity Benefit | No any benefits are payable at the end of the cover period | No any benefits are payable at the end of the cover period |
Lump Sum Benefit | 25% of Applicable Sum Assured payable immediately | 100% of Applicable Sum Assured payable immediately |
Premium Waiver Benefits | Premium for three years or Balance Policy term, whichever is less shall be waived | Premium for remaining Policy term, whichever is less shall be waived |
Income Benefits | Not Applicable | 1% of Applicable Sum Assured is payable every month for a period of fixed 10 Years |
Tax Benefit under Section 80D of Income Tax Act 1961.
Option to Increase Sum Assured by 10% of Basic Sum Assured Every Year for first 5 Years.
Documents Required:
- Medical history
- Address proof
- Know your customer documents
- Medical examination (depending on your age or the sum assured)
- Medical examination (depending on your age or the sum assured)