Cancer cover LIC offers affordable and timely benefits in the case of cancer. The policy provides lump sum amounts and monthly income benefits up to 1% of the sum insured. It also waives future premiums. You can buy the policy online or offline. LIC also offers a rebate if you buy online.
You can pay the policy in installments or pay it in lump sum at the time of diagnosis. The premium is adjusted after every 5 years based on the claims experience of LIC. Generally, if the premiums become unbearable after 5 years, you’ll end up getting the cancer cover. However, before you can receive the benefits of the policy, you need to survive for at least seven days.
LIC Cancer Cover is a non-participating health insurance plan that provides financial protection in the event of cancer diagnosis. It offers two levels of coverage: Basic Sum Insured for early stage cancers and Increased Sum Insured for major stages. Each plan has different benefits and limits. You may also choose a lump sum option that provides additional benefits.
Life Insurance Corporation of India (LIC) is the largest insurer in the country. It offers cancer treatment insurance plans that provide fixed financial protection for those diagnosed with cancer. The Life Insurance Corporation’s cancer cover health insurance plan provides a variety of benefits and allows you to choose a plan based on your preferences.