LIC with a humanitarian approach by introducing ‘Cancer Cover’ for policy holders

LIC with a humanitarian approach by introducing cancer cover for policy holders…

Life Insurance Corporation of India (LIC) is an insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of Rs 1,560,482 crore. 

LIC on Tuesday 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 ‘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, a company release said.

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. 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, it said.

LIC South Zone Zonal Manager R Thamodharan unveiled the new plan in Chennai.