The word cancer can strike fear into anybody's mind. Simply because
this life-threatening disease not only adversely impacts the body but
also puts one's financial health under tremendous strain. With rapidly
changing lifestyles, the risk of cancer is growing at an alarming rate
in India. And the best way to fight cancer is to prepare for it. Like all
the uncertainties in life now you can plan for cancer at every stage
with Aditya Birla Sun Life Insurance Cancer Shield Plan. It's a promise
that we will always be by your side.
How does your plan work
- STEP 1: Choose your Sum Assured and Plan Option (Level Sum Assured | Increasing Sum Assured*)
- STEP 2: Choose Your Policy Term
- STEP 3: Choose the Income Benefit Option
* The effective sum assured in the first year will be equal to 100% of the initial sum assured. Thereafter, as long as no claim event has occurred, the effective sum assured will increase by 10% of the initial sum assured on each policy
anniversary starting from the first policy anniversary till the tenth policy anniversary.
- Covers all stages of Cancer i.e. Early Stage of Cancer and Major Stage of Cancer
- Option to choose level or increasing cover
- Option to receive monthly income for 5 policy years on diagnosis of Major Stage of Cancer
- Waiver of premium for 5 years on diagnosis of Early Stage of Cancer
- Tax Benefits as per Section 80D of the Income Tax Act, 1961 as per current tax laws(1)
(1)Tax benefits are subject to changes in tax laws. Please consult your tax advisor for more details.
- Early Stage of Cancer - On diagnosis of Early Stage of Cancer, 30% of the Sum
Assured on Illness will be paid.
- Major Stage of Cancer - At the Major Stage of Cancer, 100% of the Sum Assured on
Illness less any previously paid claim for Early Stage of Cancer under the policy
will be paid.
Sum Assured on Illness is the highest of
- 10 times the annual premium; or
- 105% of all the premiums paid till the date of a valid claim; or
- Minimum guaranteed sum assured on maturity; or
- Effective Sum Assured
The only illness covered under this plan is Cancer.
Annual Premium is the premium payable in a year chosen by the policyholder, excluding the
underwriting extra premiums, GST and loadings for modal premiums, if any.
The minimum guaranteed sum assured on maturity is nil.
Once a claim under the Early Stage of Cancer Benefit is
approved, all future premium payments for the policy will be waived for lower of 5 years
or remaining policy term, starting from the next premium due date following the date of
diagnosis of the Early Stage Cancer. The coverage for Major Stage of Cancer under the
policy will continue until the policy terminates. This benefit will be effective, once the
investigations relating to the Early Stage of Cancer are completed and the diagnosis of
cancer is confirmed.
You will have an option to choose this benefit at policy
inception only and once chosen cannot be opted out. Under the Income Benefit Option, a
monthly income equivalent to 1% of the Sum Assured on Illness would be paid out once
a claim for Major Stage Cancer has been admitted. This monthly income benefit will be
payable for a fixed period of next 5 years even beyond the policy expiry date. In case of
death of the policyholder, nominee will continue to receive the income benefit.
The plan will terminate at the earliest of the following:
- The date when claim for Major Stage of Cancer is paid provided Income Benefit
Option has not been opted; or
- The policy expiry date; or
- The date when the last instalment is paid if Income Benefit Option is opted; or
- The date on which the reinstatement period ends after your policy has been lapsed; or
- On cancellation of the policy by the policyholder; or
- On the date of intimation of death of the Life Insured
For more details on exclusions, please refer exclusion section in policy brochure.
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a traditional non
participating health insurance plan. All terms & conditions are guaranteed throughout the policy term. GST and any other
applicable taxes will be added (extra) to your premium and levied as per extant tax laws. This leaflet contains only the salient
features of the plan. For more details on risk factors, terms & conditions, please refer to the sales brochure before concluding
the sale. Tax benefits are subject to changes in the tax laws. For more details and clarification call your ABSLI Insurance Advisor
or visit our website and see how we can help in making your dreams come true. Aditya Birla Sun Life Insurance Company
Limited (Formerly Birla Sun Life Insurance Company Limited) Registered Office: One Indiabulls Centre Tower 1, 16th Floor,
Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013. IRDAI reg no.109
CIN: U99999MH2000PLC128110 ADV/3/17-18/1979 VER1/MAR/2018