LIC Cancer Cover Plan 905
Cancer Health Protection Offline Premium Calculator
LIC Cancer Cover Plan 905 Overview
LIC Cancer Cover Plan 905 is a regular premium health insurance plan providing financial protection in case the policyholder is diagnosed with any of the specified early and/or major stage cancer during the policy term.
Eligibility & Rules
- Entry Age: 20 to 65 Years
- Policy Term: 10 to 30 Years
- Minimum Sum Assured: ₹10,00,000
- Maximum Sum Assured: ₹50,00,000
Key Plan Benefits
- Early Stage Cancer: 25% of Sum Assured paid as lumpsum. Next 3 premiums waived.
- Major Stage Cancer: 100% of Sum Assured (less early stage payout) + Income benefit of 1% of SA per month for 10 years.
- Income Benefit: Continues for 120 months even if the life assured dies.
Detailed Maturity Benefit
Basic Sum Assured + Vested Simple Reversionary Bonuses + Final Additional Bonus (if any). Payable on surviving the policy term.
Standard Policy Features
- Grace Period: 30 days for Yearly, Half-Yearly, and Quarterly premium payment modes, and 15 days for Monthly mode.
- Free Look Period: 30 days from the date of receipt of the policy document to review the terms and conditions.
- Loan & Surrender Facility: Not Applicable for health insurance plans.
- Tax Benefits: Premiums paid are eligible for tax deduction under Section 80D.
Example Calculation
| Parameter | Value |
|---|---|
| Sum Assured | ₹10,00,000 |
| Age / Term | 30 Years / 20 Years |
| Yearly Premium (Base) | ₹1,800 |
| Major Stage Benefit | ₹10L Lump Sum + ₹10,000/Month for 10 Yrs |
Calculating…