Robinhood Insurance Broker Private Limited

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Launch Date Table No. UIN Status
4/10/2017 905 512N314V01 Active

About LIC Cancer Cover

  • A health insurance plan which is specifically designed to provide benefits when diagnosed with cancer
  • Cancer cover plan offers flexibility to choose the type of Sum assured at the beginning of the policy term
  • Depending upon the applicable sum assured the benefits are given
  • Benefits of LIC Cancer Cover are offered only if cancer is detected after six months from the date of purchase of policy
  • Flexible policy term and
  • Offers an additional premium waiver benefit rider

How does this plan work?

Under this LIC cancer cover plan, an individual can choose a policy term from between 10 to 30 years. The type of sum assured is also selected from the options given below:

Option 1: A fixed basic sum assured throughout the policy term

Option 2: A basic sum assured which increases by 10 % for first five years or until the first detection of cancer. If detected within the first five years then an early stage diagnosis benefit is provided.

Depending upon the sum assured chosen, and on applicable sum assured the benefit is calculated. Benefits are offered on type of cancer stage diagnosis.

  • On the diagnosis of early stage of cancer:  The individual receives 25% of the applicable Sum Assured and 3 years premium waived off (If rider opted).
  • On the diagnosis of major stage of cancer: 100% of applicable Sum Assured is paid immediately to the assured. If he is already paid the benefit of early stage, then he gets the remaining sum assured.


Besides the lumpsum paid, the individual also gets 1% of the applicable sum assured every month for the next 10 years. If the individual dies then his nominee is paid for the next 10 years. Also, if opted for premium waiver rider is added then all the remaining premiums are waived off.

During the policy term, on diagnosis of any stage of cancer, the individual should live for 7 days to receive the benefits. The total claim of the benefit of the cancer cover including both the stages of cancer should not be greater than 220% of the applicable Sum assured. Once the policy term gets over, if the individual gets well or if cancer isn’t detected during the policy term, he doesn’t get any maturity benefit.

Let us understand this by an illustration,


Person’s age: 35
Policy term: 30 years
Sum Assured: Rs 50 lakhs

Consider a 35 year old, who chooses increasing (for first five years) sum assured of Rs 50 lakh for 30 years cancer cover plan. During the 5th year of the policy term when he is diagnosed with a an early stage of cancer then he gets Rs 1750000 (25% of the applicable sum assured 70 lakh) and since he has opted for the premium waiver rider, for next three years his premium is waived off with the continuation of the cancer cover for the remaining years. At the 25th year of policy term, if he further gets diagnosed with a major stage of cancer, then he receives the remaining 75% of the applicable sum assured of Rs 5250000 immediately and gets Rs.70000 (1% of Rs 70 lakh) every month for 10 years. If his death occurs during this ten year period, then his nominee gets that Rs 70000 till the completion of ten years.

Why should you buy LIC Cancer Cover?

  • This Cancer Cover plan reduces the burden of cancer treatment
  • A plan which provides a cover against major cancer types


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Who should buy LIC Cancer Cover plan?

  • Minimum and Maximum age at entry: 20 to 65 years
  • Minimum and Maximum Policy Term: 10 to 30 years
  • Minimum and Maximum age at maturity: 50 to 75 years
  • Minimum Basic Sum Insured: Rs.10,00,000
  • Maximum Basic Sum Insured: Rs. 50,00,000
  • A person who is an active smoker
  • A person who works in an environment wherein he is exposed to chemicals

Riders & Add On

Premium Waiver off Rider: Premiums for next three policy years or balance policy term whichever is lower, shall be waived from the policy date coinciding with or following the date of diagnosis.

Claim Process

Know Claim Process of LIC Cancer Cover

Claim Process

Company Overview

Life Insurance Corporation is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India with an estimated asset value of Rs.1560482 crore.


OneInsure is owned by Robinhood Insurance Broker Pvt. Ltd.

Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.


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Tab 2

2 burgers per month

burger₹ 700
Your yearly cost on fast food = roughly ₹ 8,400
Cost of Health Insurance for whole family with ₹ 5 lakhs cover!

Tab 3

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