Cancer is now India's second-most feared disease, and for good reason - treatment costs for advanced-stage cancer can easily cross Rs 15-20 lakh. LIC's Cancer Cover Plan 905 is a dedicated, standalone cancer insurance policy that provides meaningful financial support at two critical stages.

How LIC Cancer Cover Works

The plan pays in two stages:

Early Stage Cancer Benefit (25% of Sum Assured): Paid on diagnosis of carcinoma-in-situ (early-stage cancer) of specified organs, or early-stage cancers of specific types. The policy continues with reduced premium after this payout.

Major Stage Cancer Benefit (100% of Sum Assured): Paid on diagnosis of invasive/major-stage cancer. This is the big payout - meant to cover surgery, chemotherapy, radiation, and prolonged treatment.

Income Benefit: For 5 consecutive policy years after major cancer diagnosis, LIC pays 1% of Sum Assured every month as income support. This covers ongoing medication and family expenses.

Key Details

  • ▸Entry Age: 20 to 65 years
  • ▸Sum Assured: Rs 10 lakh to Rs 50 lakh
  • ▸Policy Term: 10 to 30 years (must expire before age 75)
  • ▸Premium: Pure risk premium - no maturity benefit, no surrender value
  • ▸Premium Waiver: After early-stage claim, future premiums are waived for 3 years

Sample Premium (Indicative)

A 40-year-old taking Rs 25 lakh cover for 20 years: approximate annual premium Rs 7,000-9,000 (lower for females due to lower cancer incidence rates). This is excellent value for a Rs 25 lakh payout.

Who Needs This Plan?

  • ▸Family history of cancer (especially breast, cervical, oral, colorectal)
  • ▸Smokers and tobacco users
  • ▸Anyone whose regular health insurance has a cancer sub-limit or waiting period
  • ▸Self-employed individuals who cannot afford income disruption due to illness

LIC Cancer Cover vs Star Cancer Care

LIC Plan 905 is simpler and easier to claim. Star Cancer Care has higher sum assured options but is more complex. For Gorakhpur clients, I generally recommend LIC 905 first due to its straightforward claim process and the trust of LIC's settlement record.

Check if your current health insurance has adequate cancer coverage, or call Ajay Kumar Poddar at 9415313434 to add a dedicated cancer cover layer.