Aditya Birla Sun Life Insurance Cancer Shield Plan is a health insurance plan that provides with requisite fund in the hour of need and protects your personal savings in a predicament like Cancer.Download the Product Brochure from here for more details
- 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
Cancer Shield Plan at a glance
|Entry Age||18 to 65 years|
|Maturity age or Cover Ceasing Age||75 years|
|Policy Term||Minimum - 5 years
Maximum – 20 years
|Premium Paying Term||Regular Pay|
|Premium Paying Mode||Annual | Semi-annual | Quarterly | Monthly|
|Sum Assured Manoj Gohel||Min. 10,00,000
Max. 50, 00, 000
Policy Benefits at different stages of Cancer:
On the diagnosis of Early Stage of Cancer, 30% of the Sum Assured on illness will be paid to you at the Major Stage of Cancer, 100% of the Sum Assured on illness will be paid to you. This is excluding any claim paid during the Early Stage of cancer
- 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.
Premium Waiver Benefit:
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. The coverage for Major Stage of Cancer under the policy will continue until the policy terminates.
Income Benefit Option:
This benefit can be chosen at the time of policy inception and cannot be opted out from later. Under this, 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
A Sample Illustration:
Below are simple annual premiums for level and icreasing Sum Assured for a male aged 35 years purchasing 25 lakhs of sum assured.
|Plan Option||Policy Term|
|5 years||10 years||15 years||20 years|
|Level Sum Assured||1725||1950||2100||2475|
|Increasing Sume Assured||2025||2700||3325||4200|
|Level Sum Assured with Income Benefit Option||2575||2900||3150||3725|
|Increasing Sum Assured with Income Benefit Option||3025||4000||4850||6125|
GST will be charged aditionally with your premium and leveled as per the extant tax laws.
The policy will terminate at the earliest of the following:
- The date when claim for Major Stage of Cancer is paid if Income Benefit Option has not been opted
- The policy expiry date
- The date when the last instalment is paid if Income Benefit Option is opted
- The date on which the reinstatement period ends after your policy has been lapsed
- On cancellation of the policy by the policyholder
- On the date of intimation of death of the Life Insured
This policy is underwritten by Aditya Birla Sun Life Insurance Company Limited (ABSLI). This is a non-participating traditional term 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. For more details on risk factors, terms and 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. Aditya Birla Sun Life Insurance Company Limited (Formerly Birla Sun Life Insurance Company Limited).
One Indiabulls Centre Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400013.
Registration No. 109
Unique No. 109N103V01
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