Cancer cover plan of LIC (Lic) is a regular premium plan. Most health insurance companies provide Kaiser cover for the treatment of serious diseases.
Nowadays lakhs of rupees are spent in the treatment of serious diseases. People’s lifetime income is spent in the treatment of critical illness. LIC gives a Cancer Cover Plan to prevent serious diseases like cancer. The special feature of this policy is that it provides you protection from cancer. LIC’s Cancer Cover Plan is a regular premium plan. Most health insurance companies provide Kaiser cover for the treatment of serious diseases. Let’s know everything about cancer cover plan.
The country’s largest insurance company Life Insurance Corporation of India (LIC) LIC’s Cancer Cover Plan is a regular premium plan. Under this, you have to pay the installment of insurance annually or half yearly. The term of insurance will be 10 to 30 years. The policy will be paid only when the cancer is diagnosed. There is no maturity benefit in this plan. Also, you cannot take a loan with this plan. The policy can also be purchased online along with offline.
Meet two options
There are two benefit options under the cancer cover plan, which you can buy according to your convenience. The first option is Level Sum Insured. In this, this amount will be fixed at the beginning of insurance and in any case it will not get more than this amount. Another option is Increasing Sum Insured. In this, every year the sum insured increases by 10 percent of the basic sum insured. This is five years before the first policy’s anniversary or the first diagnosis of cancer, whichever is earlier.
Qualification
>> Minimum age for taking this policy: 20 years
>> Maximum age for taking the policy: 65 years
>> Minimum policy term: 10 years
>> Maximum policy term: 30 years
>> Minimum age at maturity: 50 years
> > Maximum age at the time of maturity: 75 years
>> Minimum premium:Rs 2400 – For all modes
>> Minimum basic sum insured: Rs 10 lakh
>> Maximum basic sum insured: Rs 50 lakh
Benefits of taking early stage cancer policy
25% of the sum assured will be given to the policy holder. The premium for the next 3 years will be waived. Note that you can take the Early Stage Cancer Benefit only once in the entire policy period. Next time if you have diagnosis of Early Stage Cancer, then nothing will be available from the policy. After you take the benefit, your insurance amount will be reduced from the payment amount.
Benefits of taking Major Stage Cancer cover
If the cancer disease is detected on the major ster, then the entire amount of insurance will be given by LIC, which can prove to be important for treatment. However, if you have taken a claim during the initial illness, then that part will be deducted. Apart from this, no further installment will have to be given.
How cancer cover differs from critical illness plan
Critical illnesses cover pays for expensive treatment for serious diseases such as stroke, major organ transplantation, paralysis, cardiac arrest, multiple sclerosis, kidney failure, total blindness, deafness, etc. Some fatal cancers are also included. At the same time, a regular cancer insurance plan pays a lump sum benefit after the serious illness covered by the policyholder is detected and this amount can be used for deductibles, treatment, co-payment, medical or any other related expenses. . Cancer insurance is cheaper than Comprehensive Medical Insurance plans, as it only covers specific critical illnesses.
