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As a dedicated LIC agent in Kolkata, I’ve seen firsthand how cancer can devastate families both emotionally and financially. That’s why I’m passionate about helping my clients understand and obtain the right insurance coverage. Today, let’s dive deep into LIC’s Cancer Cover plan – a powerful tool in the fight against this dreaded disease.
Table of Contents
Key Takeaways
- LIC Cancer Cover provides comprehensive financial protection against cancer
- Benefits include lump sum payments, income benefits, and premium waivers
- Choose between Level and Increasing Sum Insured options
- Consider your financial needs carefully when selecting your Sum Insured
- Combine insurance with a healthy lifestyle for best protection
What is LIC Cancer Cover?
LIC Cancer Cover is a specialized health insurance plan designed to provide financial protection if you’re diagnosed with cancer. It’s a non-linked, non-participating plan that offers a lump sum benefit upon diagnosis, along with additional features to support you through treatment and recovery.
Key Features:
- Two Benefit Options: Choose between Level Sum Insured or Increasing Sum Insured
- Early and Major Stage Coverage: Provides benefits for both early and advanced cancer diagnoses
- Premium Waiver: Future premiums are waived after a major stage cancer diagnosis
- Income Benefit: Receive monthly payments for 10 years after a major stage diagnosis
Why Consider LIC Cancer Cover?
Cancer rates in India are on the rise, with over 1.3 million new cases diagnosed annually. The financial burden of cancer treatment can be overwhelming, often wiping out a family’s savings. LIC Cancer Cover acts as a financial safety net, allowing you to focus on recovery without worrying about expenses.
Benefits in Detail:
- Early Stage Cancer:
- 25% of the Sum Insured paid as a lump sum
- Premiums waived for the next 3 years or until the end of the policy term (whichever is shorter)
- Major Stage Cancer:
- 100% of the Sum Insured paid as a lump sum (minus any early stage claims)
- Monthly income benefit of 1% of the Sum Insured for 10 years
- All future premiums waived
Who Should Consider This Plan?
LIC Cancer Cover is suitable for:
- Individuals with a family history of cancer
- Those looking to supplement their existing health insurance
- Anyone wanting peace of mind against the financial impact of cancer
How to Choose Your Sum Insured
Selecting the right Sum Insured is crucial. Consider factors like:
- Your current income
- Expected treatment costs in your city
- Family financial obligations
As a general rule, I recommend a Sum Insured of at least 20-30 times your monthly income.
Premium Examples
Here’s a sample of annual premiums for a 35-year-old non-smoker (rates per Rs. 1000 Sum Insured):
| Policy Term | Male (Option I) | Female (Option I) | Male (Option II) | Female (Option II) |
|---|---|---|---|---|
| 20 years | Rs. 1.94 | Rs. 3.69 | Rs. 2.51 | Rs. 5.02 |
| 30 years | Rs. 2.95 | Rs. 4.53 | Rs. 3.99 | Rs. 6.27 |
Note: Actual premiums may vary. Contact me for a personalized quote.
Important Considerations
- Waiting Period: 180 days from policy issuance or revival
- Survival Period: 7 days from diagnosis
- Maximum Sum Insured: Rs. 50,00,000
- Entry Age: 20-65 years
- Policy Term: 10-30 years
Why Choose LIC?
- Trust: LIC is India’s largest and most trusted insurance provider
- Claim Settlement: High claim settlement ratio of 98.62% (2021-22)
- Wide Network: Access to cashless treatment at over 10,000 hospitals nationwide
How to Apply
Applying for LIC Cancer Cover is simple:
- Contact me, your LIC agent in Kolkata
- Fill out the application form
- Complete a medical examination (if required)
- Pay your first premium
- Receive your policy document
Tips for a Healthy Lifestyle
While insurance provides financial protection, prevention is always better than cure. Here are some tips to reduce your cancer risk:
- Quit smoking and limit alcohol consumption
- Maintain a healthy weight through diet and exercise
- Get regular cancer screenings
- Protect your skin from excessive sun exposure
- Manage stress through meditation or yoga
Remember, cancer doesn’t discriminate. It can affect anyone, regardless of age or health status. LIC Cancer Cover provides a crucial financial safety net, allowing you to focus on what matters most – your health and recovery.
As your dedicated LIC agent in Kolkata, I’m here to help you navigate the complexities of insurance and find the right coverage for your needs. Don’t wait until it’s too late – reach out today to secure your family’s financial future.
To discuss LIC Cancer Cover or any other insurance needs, call me, Somenath Naskar, at 7980031260. Your peace of mind is my priority.
Frequently Asked Questions
Is there a medical test required for LIC Cancer Cover?
Medical tests may be required depending on your age, Sum Insured, and medical history. I can guide you through this process.
Can I claim for multiple cancer diagnoses?
You can claim once for Early Stage Cancer and once for Major Stage Cancer. After a Major Stage claim, the policy terminates.
Are there any exclusions I should be aware of?
Yes, pre-existing conditions and certain types of cancer (like non-melanoma skin cancer) are excluded. Always read the policy document carefully.
Can I increase my Sum Insured later?
The Sum Insured cannot be changed after policy issuance. It’s important to choose the right amount initially.
Is the premium fixed for the entire policy term?
Premiums are guaranteed for the first 5 years, after which LIC may revise rates based on experience.
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