Aegon Life ICancer Plan

Policy Benefits

Lump sum Benefit

• At the Minor Stage of Cancer, for each claim the Co. will pay 25% of Sum Assured minus any previously paid claims under the Policy, up to a maximum limit of Rs 5 Lacs per claim.
• At the Major Stage of Cancer, the Co. will pay 100% of the Sum Assured minus any previously paid claim benefits.
• At the Critical Stage of Cancer, the Co. will pay 150% of the Sum Assured minus any previously paid claim benefits.

 Waiver of Premium Benefit

Premium Waiver Benefit is also available under the plan wherein once a claim under the Major Stage Cancer Benefit is approved, all future premium payments for the policy will be waived for the remaining tenure starting from the next premium due date following the date of diagnosis of the medical condition.

Death Benefit

There is no death benefit payable under this plan.

Maturity Benefit

There is no maturity benefit payable under this plan.

How the Plan Works?

Let us understand the plan with the help of an example of Mr.Ramesh

Life Insured: Mr. Ramesh

Age: 30 years

Term: 20 years

Annual Premium: Rs 5,300

Sum Assured: Rs 20 Lakh
 

Value Added Benefits

• Avail tax benefits u/s 80D as per IT Act, 1961 for premium paid for this plan.
• Quick Claim Settlement.

Sub Limits

• The sum of all benefits paid in the Minor Stage will not exceed 25% of the Sum Assured up to a maximum of 5 lacs.

Waiting Period Clause

• Initial Waiting Period: Claim for critical illness will only be accepted if the illness has occurred after the expiry of 180 days from the date of issue/date of revival of the policy.
• Survival Period Waiting Period: No survival period clause applies.
• Pre Existing Diseases Waiting Period: For all pre-existing diseases or health conditions, the benefits would be available after 48 months from date of commencement or reinstatement.