LIC launches Cancer Cover Plan

Kolkata: Life Insurance Corporation of India (LIC) announced the launch of a cancer cover as a health insurance policy with sum assured ranging from Rs 10 lakh to Rs 50 lakh.

The conference was attended by Debajyoti Som, Regional Manager, Eastern Zone, A.K.Sharma, Regional Manager (Marketing)/ZM, T.R.Mallick, Regional Manager (Corporate Communications).

"The 'Cancer Cover' policy, which can be taken by those in the age group of 20 to 65, was a non-linked plan with yearly and half-yearly premium paying options. Fixed benefits would be paid in case the Life Assured was diagnosed with any specified early and/or major stage cancer during the policy term subject to terms and conditions. Sum assured is available from Rs 10 lakh to Rs 50 lakh," said Debajyoti Som, Regional Manager, Eastern Zone.

There were two options -- sum assured and increment of the sum assured by 10 per cent of basic sum assured for the first five years.

Keeping in view the increase in rates of cancer which not only affects the patient but also its whole family the plan was launched.

The plan provides minimum 10 lakh and maximum 50 lakh insurance cover to the life assured and minimum annual premium payment under the plan is Rs 2,400 and the same depends upon the age of the life assured. Male or female aged between 20 and 65 years of age can take the life insurance under the plan.

Life assured will be able to have insurance cover after a period of six month (180 days) from the date of commencement of the policy as this period is called as waiting period.