LIC's Cancer Cover
LIC’s Cancer Cover 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.
The policy can be purchased offline through Licensed agents, Corporate agents, Brokers, Insurance Marketing Firms as well as online directly through website www.licindia.in
The plan offers two benefit options wherein you have the flexibility to choose the type of Sum Insured at the inception.
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 first year and Increased Sum Insured thereafter, as per the provisions detailed in Option II.
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.
1. Benefits:
The following benefits are payable during the policy year under an inforce policy:
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Early Stage Cancer:
Benefits payable on first diagnosis of any one of the specified Early Stage Cancers, provided the same is admissible are-
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Lump Sum Benefit:
25% of Applicable Sum Insured shall be payable
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Premium Waiver Benefit:
Premiums for next three policy years or balance policy term whichever is lower, shall be waived from the policy anniversary coinciding or following the date of diagnosis.
Early Stage Cancers covered:
The diagnosis of any of the listed below conditions must be established by histological evidence and be confirmed by a specialist in the relevant field.
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Carcinoma-in-situ (CIS):
Carcinoma-in-situ means the presence of malignant cancer cells that remain within the cell group from which they arose. It must involve the full thickness of the epithelium but does not cross basement membranes and it does not invade the surrounding tissue or organ The diagnosis of which must be positively established by microscopic examination of fixed tissues.
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Prostate Cancer – early stage:
Early Prostate Cancer that is histologically described using the TNM classification as T1N0M0 with a Gleason Score 2 (two) to 6(six).
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Thyroid Cancer – early stage:
All thyroid cancers that are less than 2.0 cm and histologically classified as T1N0M0 according to TNM classification.
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Bladder Cancer – early stage:
All tumors of the urinary bladder histologically classified as TaN0M0 according to TNM classification.
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Chronic Lymphocytic Leukaemia – early stage:
Chronic Lymphocytic Leukaemia categorized as stage 0 (zero) to 2 (two) as per the Rai classification.
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Cervical Intraepithelial Neoplasia:
Severe Cervical Dysplasia reported as Cervical Intraepithelial Neoplasia 3 (CIN3) on cone biopsy.
The following are specifically excluded from all early stage cancer benefits (Exclusions):
All tumors which are histologically described as benign, borderline malignant, or low malignant potential
Dysplasia, intra-epithelial neoplasia or squamous intra-epithelial lesions
Carcinoma in-situ of skin and Melanoma in-situ
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Major Stage Cancer:
Benefits payable on first diagnosis of the specified Major Stage Cancer, provided the same is admissible are-
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Lump Sum:
100% of Applicable Sum Insured less any previously paid claims in respect of Early Stage Cancer shall be payable.
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Income Benefit:
In addition to above lump sum benefit, Income Benefit of 1% of Applicable Sum Insured shall be payable on each policy month following the payment of Lump Sum, for a fixed period of 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.
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Premium Waiver Benefit:
All the 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.
Major Stage Cancers covered:
A malignant tumor characterized by the uncontrolled growth and spread of malignant cells with invasion and destruction of normal tissues. This diagnosis must be supported by histological evidence of malignancy. The term cancer includes leukemia, lymphoma and sarcoma.
The following are excluded from major stage cancer benefits (Exclusions):
All tumors which are histologically described as carcinoma in situ, benign, premalignant, borderline malignant, low malignant potential, neoplasm of unknown behavior, or non invasive, including but not limited to: Carcinoma in situ of breasts, Cervical dysplasia CIN-1, CIN -2 and CIN-3.
Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph nodes or beyond;
Malignant melanoma that has not caused invasion beyond the epidermis;
All tumors of the prostate unless histologically classified as having a Gleason score greater than 6 or having progressed to at least clinical TNM classification T2N0M0
All Thyroid cancers histologically classified as T1N0M0 (TNM Classification) or below;
Chronic lymphocytic leukaemia less than RAI stage 3
Non-invasive papillary cancer of the bladder histologically described as TaN0M0 or of a lesser classification,
All Gastro-Intestinal Stromal Tumors histologically classified as T1N0M0 (TNM Classification) or below and with mitotic count of lessthan or equal to 5/50 HPFs;
Benefit Limits and Conditions:
Early Stage Cancer Benefit shall be payable only once for the first ever event and Life Assured shall not be entitled to make another claim for the Early Stage Cancer of same or any other cancer. However, the coverage for the Major Stage Cancer under the policy shall continue until the policy terminates.
Once a Major Stage Cancer Benefit is paid no payment for any future claims under Early Stage Cancer or Major Stage Cancer would be admissible.
Total benefit under the Policy including Early Stage Cancer Benefit and Major Stage Cancer Benefit as specified above shall not exceed the maximum claim amount of 220% of Applicable Sum Insured.
If the life assured claims for different stages of the same Cancer at the same time, the benefit shall only be payable for the higher claim admitted under the policy.
If there is more than one Cancer diagnosed in an event, the Corporation will only pay one benefit. That benefit will be the amount relating to the stage of Cancer which has the highest benefit amount.
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2. Waiting Period:
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.
No benefit shall be payable if any stage of Cancer occur before expiry of 180 days from the date of issuance of policy or date of revival and the policy shall terminate.
3. Survival Period:
No benefit shall be payable if the Life Assured dies within a period of 7 days from the date of diagnosis of any of the specified Early Stage Cancer or Major Stage Cancer. The 7 days survival period includes the date of diagnosis.
4. Eligibility Conditions and Other Restrictions:
| Minimum age at entry | : 20 years (completed) |
|---|---|
| Maximum age at entry | : 65 years (last birthday) |
| Minimum Policy Term | : 10 years |
| Maximum Policy Term | : 30 years |
| Minimum age at maturity | : 50 years |
| Maximum age at maturity | : 75 years |
| Minimum Premium | : ₹5000/- p.a. for all modes |
| Minimum Basic Sum Insured | : ₹35,00,000 for ages 20 years to 34 years |
| : ₹25,00,000 for ages 35 years to 40 years | |
| : ₹15,00,000 for ages 41 years to 65 years | |
| Maximum Basic Sum Insured | : ₹50,00,000 |
The maximum Basic Sum Insured under this plan (including earlier versions with UIN 512N314V01 and UIN 512N314V02) shall not exceed an overall limit of ₹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 ₹1,00,000/- only.
5. Payment of Premiums:
Premiums can be paid regularly during the policy term at yearly or halfyearly intervals.
6. Grace Period:
A grace period of 30 days will be allowed for both yearly and half-yearly modes from the date of first unpaid premium. If the premium is not paid before the expiry of the days of grace, the Policy lapses and all the benefits payable under this plan will cease.
7. Sample Premium Rates:
The premium rates under this plan are guaranteed for a period of first 5 years from the date of issuance of the policy. The Premium rates for future years will be subject to revision based on the Corporation’s experience under this plan and prior notice of at least 90 days to the policyholder.
The sample tabular annual premium rates (in ₹) (Excluding applicable taxes, if any) per ₹1000/- Sum Insured for policies to be sold through Offline (without CIS) are as under:
Option I: Level Sum Insured
| Age (Years) | Policy Term (years) | |||
|---|---|---|---|---|
| 20 | 30 | |||
| Male | Female | Male | Female | |
| 20 | - | - | 1.10 | 1.71 |
| 30 | 1.31 | 2.53 | 1.86 | 3.23 |
| 35 | 1.94 | 3.69 | 2.95 | 4.53 |
| 40 | 2.83 | 4.94 | 4.51 | 5.91 |
| 45 | 5.28 | 6.74 | 8.13 | 7.95 |
| 50 | 8.56 | 8.48 | - | - |
Option II: Increasing Sum Insured
| Age (Years) | Policy Term (years) | |||
|---|---|---|---|---|
| 20 | 30 | |||
| Male | Female | Male | Female | |
| 20 | - | - | 1.35 | 2.26 |
| 30 | 1.67 | 3.44 | 2.47 | 4.48 |
| 35 | 2.51 | 5.02 | 3.99 | 6.27 |
| 40 | 3.81 | 6.79 | 6.30 | 8.24 |
| 45 | 7.24 | 9.18 | 11.47 | 10.99 |
| 50 | 12.02 | 11.62 | - | - |
8. Loading/Rebate:
Mode Loading
| Yearly mode | : NIL |
|---|---|
| Half-yearly mode | : 2% of Tabular Premium |
| High Sum Insured Rebate: | : NIL |
| Rebate for policies sold Online | : 7% of Tabular Premium |
9. Revival:
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 as the case may be. 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 satisfaction of Continued Insurability of the Life Assured on the basis of information, documents and reports that are already available and any additional information in this regard if and as may be required in accordance with the Underwriting Policy of the Corporation at the time of revival, being furnished by the Policyholder/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.
Waiting period, survival period and Exclusions as mentioned in this brochure will also apply on revival.
10. Paid-up Policy:
This policy shall not acquire any paid-up value
11. Surrender:
No surrender value will be available under this plan.
12. Policy Loan:
No loan facility will be allowed under this plan.
13. Taxes:
Statutory Taxes, if any, imposed on such insurance plans by the Government of India or any other constitutional Tax Authority of India shall be as per the Tax laws and the rate of tax as applicable from time to time.
The amount of applicable taxes, as per the prevailing rates, shall be payable by the policyholder, which shall be collected separately over and above in addition to the premiums payable by the policyholder. The amount of tax paid shall not be considered for the calculation of benefits payable under the plan.
Regarding Income tax benefits/implications on premium(s) paid and benefits payable under this plan, please consult your tax advisor for details.
14. Free Look Period:
If the policyholder is not satisfied with the “Terms and Conditions” of the policy, he/she may return the policy to the Corporation within 30 days from the date of receipt of the electronic or physical mode of the policy bond stating the reasons for objections. On receipt of the same the Corporation shall cancel the policy and return the amount of premium deposited after deducting the proportionate risk premium for the period of cover, (shall not be applicable during the waiting period) and charges for stamp duty.
15. Exclusions:
The Corporation shall not be liable to pay any of the benefit under this product and the policy will stand cancelled, if the covered conditions resulting directly or indirectly from any of the following causes:
Any Pre-Existing Condition
If the diagnosis of a 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 the 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.
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