LIC's Bima Shree | Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT form
LIC's Cancer Cover is a non-linked, regular premium payment health insurance plan which provides fixed benefit in case the Life Assured is diagnosed with any of the specified Early and/or Major Stage Cancer during the policy term, subject to certain terms and conditions. However, no maturity benefit or death benefit is payable under this policy.
People above 20 yrs with moderate to high income groups, who want to provide a broad safety net to manage the uncertainty and financial strain that comes with cancer illness both for treatment and maintenance of life.
Corporation offers 7% rebate of Tabular Premium for policies sold online. In addition it saves your time and energy.
The proposer should be Indian Citizen residing in India. He should not be an NRI or FNIO.
Minimum entry age: 20 years (Completed).
Maximum entry age: 65 years (Nearest Birthday)
Minimum cover ceasing age: 50 years
Maximum cover ceasing age: 75 years
One cannot propose for anyone other than self.
Minimum Policy Term: 10 years
Maximum Policy Term: 30 years
The Premiums can be paid in Half-Yearly or Yearly modes only.
You can make payment through Net banking, Debit Card, Credit Card, Amex Card, UPI, IMPS and e-wallets.
For the Credit Card transactions, the existing customer convenience fee charges for different payment-ranges as listed below.
BillDesk Transaction Processing Fees for the above transactions (5) & (6) is Rs. 2.00 per Transaction + GST
The premium rates are guaranteed for a period of first 5 years from the date of issuance of the policy. Based on the experience of the portfolio, the Corporation may revise the premium rates any time after the completion of 5 policy years starting from the date of issuance of the policy. However, such revised rates shall be guaranteed for a further period of at least 5 years.
A nominee is a person who has right to give a valid discharge to the policy monies in case of death of the Life Assured.
Yes, a Nominee can be a Minor. However, an Appointee (major) has to be provided for the Minor Nominee.
In case of death of the Life Assured before receiving the benefits admitted and payable under the policy or in case of death while receiving the Income Benefit, the remaining instalments, if any, will continue to be paid to his/her nominee.
A grace period of one month but not less than 30 days is allowed for payment of yearly or half-yearly premiums.
Loan is not available under this product.
The subsequent premium can be paid across our cash counter any where or through Net banking/Credit Card/Debit-Card.
The maximum Basic Sum Insured under this plan shall not exceed an overall limit of Rs. 50 lakh taking all existing Critical Illness Cover policies and Basic Sum Insured under this plan in respect of existing policies as well as new proposal under consideration. Critical Illness Cover policies shall include the policies taken under: Critical Illness Rider (UIN: 512B202V01),LIC's Critical Illness Benefit Rider (Linked) (UIN: 512A206V01) & LIC's New Critical Illness Benefit Rider(512A212V01)
It is always prudent to buy an individual health insurance policy for Cancer Cover because:
This plan is allowed only under non medical, and no medicals are to be called for under any circumstances & this non-medical cover will not be included in any of the existing Non-medical schemes.
Yes. You can buy another policy subject the maximum cover stipulations under the policy
A waiting period of 180 days will apply from the date of issuance of policy. Cover commences after the waiting period is over.
You can send a mail to email@example.com for refund. Service charges if any will be deducted from your deposit.
A) The following are specifically excluded from all early stage cancer benefits:
B) The following are excluded from major stage cancer benefits:
Section 45 of The Insurance Laws (Amendment) Act, 2015 :
1. No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e. from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later.
2. A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground of fraud:
Provided that the insurer shall have to communicate in writing to the insured or the legal representatives of nominees or assignees of the insured the grounds and materials on which such decision is based.
Explanation I For the purposes of this sub-section, the expression "fraud" means any of the following acts committed by the insured or by his agent, with the intent to deceive the insurer or to induce the insurer to issue a life insurance policy:
a. the suggestion, as a fact of that which is not true and which the insured does not believe to be true;
b. the active concealment of a fact by the insured having knowledge or belief of the fact;
c. any other act fitted to deceive; and
d. any such act or omission as the law specially declares to be fraudulent.
Explanation II Mere silence as to facts likely to affect the assessment of the risk by the insurer is not fraud, unless the circumstances of the case are such that regard being had to them, it is the duty of the insured or his agent, keeping silence to speak, or unless his silence is, in itself, equivalent to speak.
3. Notwithstanding anything contained in sub-section (2), no insurer shall repudiate a life insurance policy on the ground of fraud if the insured can prove that the mis-statement of or suppression of a material fact was true to the best of his knowledge and belief or that there was no deliberate intention to suppress the fact or that such mis-statement of or suppression of a material fact are within the knowledge of the insurer:
Provided that in case of fraud, the onus of disproving lies upon the beneficiaries, in case the policyholder is not alive.
Explanation A person who solicits and negotiates a contract of insurance shall be deemed for the purpose of the formation of the contract, to be the agent of the insurer.
4. A policy of life insurance may be called in question at any time within three years from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later, on the ground that any statement of or suppression of a fact material to the expectancy of the life of the insured was incorrectly made in the proposal or other document on the basis of which the policy was issued or revived or rider issued:
Provided that the insurer shall have to communicate in writing to the insured or the legal representatives or nominees or assignees of the insured the grounds and materials on which such decision to repudiate the policy of life insurance is based:
Provided further that in case of repudiation of the policy on the ground of misstatement or suppression of a material fact, and not on the ground of fraud, the premiums collected on the policy till the date of repudiation shall be paid to the insured or the legal representatives or nominees or assignees of the insured within a period of ninety days from the date of such repudiation.
Explanation For the purposes of this sub-section, the mis-statement of or suppression of fact shall not be considered material unless it has a direct bearing on the risk undertaken by the insurer, the onus is on the insurer to show that had the insurer been aware of the said fact no life insurance policy would have been issued to the insured.
5. Nothing in this section shall prevent the insurer from calling for proof of age at any time if he is entitled to do so, and no policy shall be deemed to be called in question merely because the terms of the policy are adjusted on subsequent proof that the age of the life insured was incorrectly stated in the proposal.