ALSO READLIC's surplus payout to govt rises 16% to Rs 2,207 cr in FY17 This new LIC policy gives a 100-year cover with 8% assured annual returns Bundled insurance products offer convenience LIC books 72% profit at Rs 19,000 cr from equity play in FY17 LIC earned over Rs 180k cr from investments in FY17
The 'Cancer Cover' policy, which can be taken by those in the age group of 20 to 65, was a non-linked plan with yearly and half-yearly premium paying options, a company release said.
Fixed benefits would be paid in case the Life Assured was diagnosed with any specified early and/or major stage cancer during the policy term subject to terms and conditions.
Sum assured is available from Rs 10 lakh to Rs 50 lakh. There were two options -- sum assured and increment of the sum assured by 10 per cent of basic sum assured for the first five years, it said.
LIC South Zone Zonal Manager R Thamodharan unveiled the new plan in Chennai.