Plan: Cancer Cover (905)
Product Summary :
This is non-linked, regular premium payment health insurance plan which provides fixed benefit in case 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.
The plan has two benefit options which have to be chosen by the proposer at the outset.
Option 1: Level Sum Insured :
The Basic Sum Assured remains the same throughout the term.
Option 2: Increasing Sum Insured :
10% increase in Sum assured for 1st 5 years or till diagnosis of specified cancer.
Premium Payment Mode| Minimum Entry Age | Maximum Entry Age |Minimum Policy Term|
Yearly, Halfly |20 Years (completed)|65 Years (last birthday) | 10 years |
Maximum Policy Term| Minimum Sum Assured | Maximum Sum Assured
30 years | Rs.10,00,000 | Rs.50,00,000
Basic S.A. shall be in multiples of Rs.1,00,000 | Minimum and Maximum cover ceasing age: 50 years and 75 years
Minimum Premium Rs.2400 p.a. for all modes. Policy Benefits :
A. Early stage cancer :
Payable once for the 1st ever event
i. Lumpsum 25% of applicable Sum Assured payable and
ii. Next 3 years premiums waived.
B. Major Stage Cancer :
i. Lumpsum 100% of applicable Sum Assured payable minus any claim paid for A above if any.
ii. 1% of applicable Sum Assured guaranteed payable for next 120 months. AND
iii. Waiver of future premiums. Maximum claim payable 220% of applicable sum assured.
Surrendered Value :
No surrender value will be available under the policy.
No loan will be available under the policy.