LIC launches cancer cover policy
Posted on: 12/Dec/2017 4:50:21 PM - No. of views : (3158)
LIC (Life Insurance Corporation of India) has recently introduced a new insurance cover for cancer, called cancer cover policy.
LIC Regional Manager explained in Chennai that LIC has introduced a new insurance policy covering cancer, known as �cancer cover�.
This policy is linked to the share market. The premiums for this policy can be paid once in a year or twice in a year.
In case it is established that the policy holder is suffering from cancer in the initial or advanced stage, a specific amount will be given for treatment as per the policy rules and regulations.
If the cancer is in the initial stages, 25% of the insured amount will be given. Further, the premium amounts for 3 years will be waived.
If the cancer is in an advanced stage, 100% of the insured amount or in case advance payment has been made during the initial stage, this will be deducted and the balance will be paid.
Further, if the cancer is in the advanced stage, 1% of the insured amount will be paid every month for 10 years. Along with this, the premiums to be paid will also be withdrawn.
The waiting period will be 180 days from the policy start day or renewal day. People in the age group 20-65 are eligible to take this policy. The benefits can be availed till 75 years of age.
The insurance amount has been fixed to start from Rs. 10 Lakhs to Rs. 50 Lakhs. The policy can be made online as well.
