LIC New Cancer Cover pays a fixed lump sum, plus a monthly income, if you are diagnosed with cancer during the policy term. In total, you can claim up to 245% of the sum assured. Moreover, the money comes on diagnosis, whatever the treatment actually costs.
List of Topic Covered
Quick facts on LIC New Cancer Cover
| Item | Details |
| Plan name | LIC’s New Cancer Cover |
| Plan no. / UIN | 908 / 512N370V01 |
| Plan type | Non-Par, Non-Linked, Health, Individual, Pure Risk |
| Launch date | 19 October 2026 |
| Bonus | No |
| Death / maturity / surrender value | None |
| Where to buy | LIC agents, brokers, corporate agents, or online at licindia.in |
Key features of LIC Cancer Cover Plan
- Premium is guaranteed for the whole policy term, so it never goes up.
- For early-stage cancer, you get 25% of sum assured, plus 3 years of premiums waived.
- For major-stage cancer, you get 100% of sum assured, and then 1% of sum assured every month for 10 years. Also, this is paid in full even if you had an early-stage claim before.
- Even if you die during those 10 years, the monthly income continues to your nominee.
- In addition, there are two options: Level Sum Assured, or Increasing Sum Assured (+10% a year for the first 5 years).
- Finally, you get 7.5% to 10% off if you buy online.
Eligibility of LIC Cancer Cover Plan
| Condition | Details |
| Entry age | 18 to 65 years |
| Policy term | 10 to 15 years |
| Premium paying term | Same as policy term |
| Maturity age | 28 to 75 years |
| Minimum sum assured | ₹35 lakh (age 18 to 34), ₹30 lakh (35 to 40), ₹20 lakh (41 to 50), ₹15 lakh (51 to 65) |
| Maximum sum assured | ₹50 lakh, across all policies under this plan |
| Premium mode | Yearly or half-yearly |
LIC New Cancer Cover benefits explained simply
| Stage | What you get |
| Early-stage cancer (first diagnosis) | 25% of sum assured as lump sum + premiums waived for the next 3 policy years |
| Major-stage cancer (first diagnosis) | 100% of sum assured as lump sum + 1% of sum assured every month for 10 years + all future premiums stop |
| Death | Nothing, unless the monthly income has already started (it continues to the nominee) |
| Maturity | Nothing |
Early-stage cancers covered include carcinoma-in-situ, early prostate, thyroid and bladder cancer, early chronic lymphocytic leukaemia and CIN-3 of the cervix. On the other hand, major-stage means a malignant tumour that has spread and invaded normal tissue, including leukaemia, lymphoma and sarcoma. In both cases, you need a biopsy (histology) report confirmed by a specialist.
Level vs Increasing Sum Assured
- Option I, Level: the sum assured stays the same throughout.
- Option II, Increasing: the sum assured goes up by 10% of the base on each of the first 5 policy anniversaries, so it reaches 150% from year 6. However, it stops increasing after any cancer diagnosis, and you can’t change the option later.
Worked example
Let’s understand this with the help of an example,
Suresh is 35. He takes ₹50 lakh, Level Sum Assured, for 15 years. As a result, his premium is ₹9,100 a year (offline, before tax).
- Age 42: early-stage cancer. First, LIC pays ₹12.5 lakh. Then he pays no premium for the next 3 years.
- Age 46: major-stage cancer. This time, LIC pays ₹50 lakh at once. After that, he gets ₹50,000 every month for 10 years (₹60 lakh in total), and no more premiums are due.
- Total received: ₹1.225 crore, which is the maximum of 245% of the sum assured.
Even if Suresh dies during the 10-year income period, his family keeps getting the ₹50,000 a month. Similarly, with Option II, the same claim at age 46 would be based on ₹75 lakh, for a premium of ₹11,400.
Sample premiums (yearly, ₹50 lakh sum assured, offline, before tax)
| Age | Term (Years) | Option I Male | Option I Female | Option II Male | Option II Female |
| 20 | 10 | ₹4,700 | ₹5,250 | ₹5,300 | ₹6,100 |
| 20 | 15 | ₹4,950 | ₹6,100 | ₹5,700 | ₹7,400 |
| 35 | 10 | ₹8,050 | ₹15,200 | ₹9,700 | ₹19,500 |
| 35 | 15 | ₹9,100 | ₹17,600 | ₹11,400 | ₹23,400 |
| 50 | 10 | ₹25,400 | ₹37,750 | ₹33,100 | ₹49,050 |
| 50 | 15 | ₹32,800 | ₹41,600 | ₹44,750 | ₹55,950 |
| 60 | 10 | ₹73,050 | ₹60,500 | ₹97,450 | ₹78,800 |
| 60 | 15 | ₹89,150 | ₹66,750 | ₹1,23,450 | ₹90,150 |
| 65 | 10 | ₹1,14,150 | ₹75,800 | ₹1,52,700 | ₹99,550 |
However, notice that women pay almost double at age 35. This likely reflects higher rates of breast and cervical cancer in women in their 30s and 40s. From age 60, though, women pay less than men.
Besides, buying online gives 7.5% off (10 to 14-year term) or 10% off (15-year term).
What changed vs the old Cancer Cover (Plan 905)
The old LIC Cancer Cover (905) is now on LIC’s withdrawn plans list. Overall, the new plan keeps the same basic design. Here are the main changes, as reported by Daily Financial:
| Feature | Old Cancer Cover (905) | New Cancer Cover (908) |
| Minimum entry age | 20 | 18 |
| Policy term | 10 to 30 years | 10 to 15 years |
| Premium guarantee | First 5 years | Whole term |
| Major-stage payout after an early-stage claim | 100% minus early-stage amount paid | Full 100% |
| Maximum total payout | 220% of sum assured | 245% of sum assured |
| Minimum sum assured | ₹10 lakh | ₹15 lakh to ₹35 lakh, by age |
However, the biggest loss is the shorter term. For example, under the old plan a 35-year-old could stay covered to 65. Now, cover ends by 50 at the most.
LIC New Cancer Cover: pros and cons
| Pros | Cons |
| Up to 245% of sum assured: lump sums + 10 years of monthly income | Covers cancer only |
| Full 100% major-stage payout even after an early-stage claim | Maximum term is only 15 years; cover ends just as cancer risk rises with age |
| Premium guaranteed for the whole term | High minimum sum assured (₹35 lakh below age 35) |
| Monthly income continues to family after death | Maximum sum assured is ₹50 lakh |
| Premium waiver on early-stage and major-stage diagnosis | No money back if no claim; no surrender or loan |
| Cheap for young men (₹4,700 for ₹50 lakh at age 20) | Costly for women aged 30 to 50 |
| Money can be used for anything, on top of mediclaim | 180-day waiting period |
Who should buy LIC New Cancer Cover?
- People with a family history of cancer (parents or siblings), who are themselves currently free of it.
- Earning members aged 30 to 55 with dependents and loans, because the monthly income can replace salary during treatment.
- People who already have mediclaim and want cash for costs it doesn’t cover, for example travel to cancer centres, lost income or home care.
- People who want a fixed, guaranteed premium for a set number of years.
Who should skip it
- Anyone without mediclaim. Instead, buy that first, because it pays for the actual treatment.
- Anyone who has had cancer or pre-cancer treatment in the last 3 years.
- People who want broad protection on a small budget, since a multi-illness critical illness plan or rider may suit them better.
- Anyone expecting a refund at the end, as there is none.
Verdict
Overall, LIC New Cancer Cover is a good, simple cancer plan with a generous payout design. In particular, the full payout after an early claim and the guaranteed premium are clear improvements over the old plan. However, the short 15-year term is its biggest weakness. So choose the 15-year term, and consider Option II if you are under 40. Finally, use it alongside mediclaim and, ideally, a term insurance plan.
Disclaimer: This review is based on LIC’s sales brochure (UIN 512N370V01). It is for information only, not financial advice. Read the policy document before buying.