LIC Cancer Insurance
LIC Cancer Insurance
PX step

Get Quotes From Top Insurers

D.O.B (eldest member)
| Gender

Please Enter Other Details

Phone No.

By proceeding you are accepting our T&C and privacy policy

LIC's Cancer Insurance

Established on September 1, 1956, Life Insurance Corporation of India (LIC) was established by the Government of India when it passed the Life Insurance of India Act in the bid to nationalize the Indian Insurance Industry. Apart from providing life cover, it also provides policies that range from general annuities, pensions, non-linked health, unit-linked, and group insurance policies. As of 2019, it had 8 zonal offices, 113 divisional offices, 2,048 branch offices, and 1,481 satellite offices.

LIC launched its cancer cover policy in November 2017 to provide financial cover to families and individuals suffering from cancer and its after-effects. As we all know, cancer is a disease that can have a serious impact on one's family life, the standard of living, and financial well-being. Through the cancer cover, LIC provides a financially affordable cover that will help patients prepare, and fight the disease successfully.

LIC's Cancer Cover

LIC's Cancer Cover is a non-linked, non-participating health insurance plan that is designed to help an individual cope with the treatment expenses arising out of a cancer diagnosis. The plan comes in two options. In Option 1, the sum insured remains unchanged throughout the term, while in Option 2, the sum insured increases by 10% every year for the first five years until the diagnosis of the first event of cancer or from the first policy anniversary (whichever is earlier). Let's discuss the eligibility criteria and benefits in detail.

Eligibility Criteria

Age at entry

Minimum: 20 years

Maximum: 65 years

Policy Term

10 years - 30 years

Age at maturity

Minimum: 50 years

Maximum: 75 years

Sum Insured

Rs. 10 Lakhs - 50 Lakhs

Minimum premium

Rs. 2,400

Premium Payment Mode

Yearly and Half-yearly


Coverage: The plan provides cover for early-stage cancer and major stage cancer. If the insured is diagnosed with early-stage cancer, (s)he will be paid a lump sum benefit of 25% of the sum insured, while the balance of 100% will be paid if (s)he is diagnosed with major stage cancer. During the major stage, the insured will also receive an income benefit, under which 1% of the sum insured will be paid for a fixed period of 10 years.

Premium: The premium rates under this policy are affordable and remain unchanged for the first 5 years of the policy. When diagnosed with early-stage cancer, the premiums for the next three years or balance policy term (whichever is lower) will be waived off, while in major stage cancer, all the future premiums are waived off till the end of the policy term.

Grace period: If for some unavoidable reasons, the individual is not able to pay the premiums in time, (s)he will be provided a grace period of 30 days to pay it.

How Can I Buy the LIC's Cancer Cover?

The LIC's Cancer cover can be purchased offline through the local branches and through online modes. To purchase the policy through online mode, you need to follow the below steps:

  1. Visit the website of LIC and click on 'LIC's Cancer Cover' under 'Buy Policy Online'.
  2. Scroll down to find the cancer plan and click on 'Buy Online'. Tap on 'Click To Buy Online'.
  3. You will be now redirected to a new web page where you will need to enter your personal details such as your name, date of birth, mobile number, email, address, etc. and then click on 'Calculate Premium'.
  4. You will now get a web page that will ask you to enter the OTP sent to your registered mobile number.
  5. After entering your OTP, you will be taken to a web page where the following details will need to be entered: Sum Insured, Payment Mode, Policy Term, Premium Payment Term, and Date of Proposal. These details will help LIC to arrive at the premium for the chosen term.
  6. After clicking on 'Calculate Premium', a new page with the premium rate will be generated, from which you need to pay the premium using the available payment modes. If deemed necessary, the company will also conduct a medical check-up to verify the physical health of the insured.
  7. Once all scrutiny is done, the policy will be generated and will be delivered to the insured.

Claim Process

Like any other LIC plan, the claim process for the cancer plan involves the following three steps:

1. Claim intimation: Once the insured is diagnosed with cancer, the insured/nominee needs to intimate the company through mobile or email and should prepare the necessary documents for the claim processing.

2. Documents submission: The insured, or his/her nominee needs to submit the necessary documents for claims processing. These documents are:

  • Duly filled claim form
  • Medical records (including diagnosis report)
  • Original policy document
  • Physician certificate
  • Any other requested document

3.Decision: Once LIC scrutinizes the documents carefully, it will come to a decision, and will communicate it to the insured/nominee accordingly.

Frequently Asked Questions (FAQ's)

The waiting period from the commencement of the policy to the claim for the first cancer diagnosis is 180 days.

No. According to the policy terms, the cancer patient should survive at least 7 days from the date of diagnosis to be eligible for the benefit.

No. The policy doesn't acquire paid-up value, neither is any surrender value available.

Any type of cancer that has resulted from the below causes are excluded:

  • Pre-existing conditions
  • Sexually Transmitted Diseases (HIV, AIDS, etc.)
  • Alcohol or Drug intoxication
  • Nuclear, chemical, radioactive contamination, etc.
  • If cancer was detected within 180 days from the date of issuance of the policy.

Yes. The premium paid receipt can be submitted for income tax deductions under Section 80C of the Income Tax Act, 1961.

Yes, you can appoint your minor-aged brother, however, you need to provide an appointee who is a major for your nominee.

The free-look period is 15 days for direct purchases, and 30 days for online purchases. If you are not satisfied with the terms, you can cancel during this period, and any premium paid will be refunded after deducting the necessary charges.

Last updated on 05-11-2020