LIC New Cancer Cover (Plan 908): Features, Eligibility and Benefits (2026)

LIC New Cancer Cover Plan 908 - Overview

LIC’s New Cancer Cover (Plan 908, UIN 512N370V01) is a non-participating, non-linked, individual, pure risk health insurance plan with regular payment of premiums. Under this plan, the company pays benefits to the life assured if they are diagnosed with any of the specified early and or major stage cancer during the policy term. The benefits payable through this health insurance plan by the LIC of India are fixed irrespective of the actual medical cost as it is a non-participating plan. The New Cancer Cover LIC plan can be purchased offline as well as online.

What are the Key Features of LIC New Cancer Cover?

• The premiums of LIC New Cancer Cover plan 908 are guaranteed throughout the tenure of the policy.

• The policy pays fixed benefits on first diagnosis of specified early and/or major cancer during the policy term.

  • For Early Stage Cancer, 25% of the Applicable Sum Assured shall be payable.

  • For Major Stage Cancer, 100% of the Applicable Sum Assured shall be payable, irrespective of any previously paid claim for Early Stage Cancer.

• Policyholders are given a Premium Waiver Benefit for three years or outstanding policy term (whichever is less) on diagnosis of a specified Early Stage Cancer.

• The life assured will get a monthly income benefit for 10 years on diagnosis of major stage cancer.

• There is an option to choose between Level Sum Assured and Increasing Sum Assured.

• A death benefit or a maturity benefit is not payable since it is not a life insurance plan but a pure risk health insurance plan that pays cancer illness benefit.

What is the Eligibility Criteria for LIC New Cancer Cover Plan 908?

What are the Benefits of LIC New Cancer Cover Policy?

Before understanding the benefits payable through the LIC New Cancer Cover 908 plan, it is important to first understand that there are two options for the basic sum assured. When you buy the policy, you must choose one of two sum assured options. The choice cannot be changed later and both the premium and the benefits depend on it.

Note: Under Option II, the increases stop from the next policy anniversary once any specified cancer is diagnosed. All benefits are based on the Applicable Sum Assured, which is the Basic Sum Assured under Option I. Under Option II, it is the Basic Sum Assured in the first year and the increased amount from the first anniversary onwards.

Based on the sum assured option you choose, the following benefits are payable for an in-force policy, subject to the limitations and conditions of LIC.

Cancer Illness Benefit

Early Stage Cancer Benefit
If you are diagnosed with a specified early-stage cancer for the first time before the policy matures, and the claim is admissible, LIC pays two benefits:

• Lump sum: 25% of the Applicable Sum Assured.

• Premium waiver: Your premiums are waived for the next three policy years (or the rest of the policy term, if shorter), starting from the policy anniversary after the diagnosis. After that, you pay premiums for the remaining term. Any premium that falls due between the diagnosis and that anniversary is deducted from the claim amount.

Early-stage cancers covered (the diagnosis must be confirmed by tissue examination and a specialist):

• Carcinoma-in-situ: Cancer cells that remain in the cells where they began and have not invaded the surrounding tissue

• Early prostate cancer: T1N0M0 with a Gleason score of 2 to 6

• Early thyroid cancer: Smaller than 2 cm and classified T1N0M0

• Early bladder cancer: Classified Ta N0M0

• Early chronic lymphocytic leukaemia: Rai stage 0 to 2

• Severe cervical dysplasia: Reported as CIN3 on cone biopsy

Early-stage cancers not covered:

• Benign, borderline or low malignant potential tumours

• Dysplasia, intra-epithelial neoplasia and squamous intraepithelial lesions

• Carcinoma in situ of the skin and melanoma in situ

Major Stage Cancer Benefit

If you are diagnosed with a specified major-stage cancer for the first time before the policy matures, and the claim is admissible, LIC pays:

• Lump sum: 100% of the Applicable Sum Assured. This is paid in full, even if an early-stage cancer claim was paid earlier.

• Monthly income: 1% of the Applicable Sum Assured every month for the next 10 years, in addition to the lump sum. It is paid whether or not you survive, and even if the 10 years go beyond the policy term. If you die while receiving it, the remaining payments go to your nominee.

• Premium waiver: All future premiums stop from the next policy anniversary after the diagnosis. Any premium due between the diagnosis and that anniversary is deducted from the claim amount.

What counts as major-stage cancer: A malignant tumour with uncontrolled growth and spread of cancer cells, which invades and destroys normal tissue. The diagnosis must be supported by tissue examination. Leukaemia, lymphoma and sarcoma are included.

Not covered as major-stage cancer:

• Carcinoma in situ, benign, pre-malignant, borderline, non-invasive and similar tumours, including carcinoma in situ of the breast and cervical dysplasia (CIN-1, 2 and 3)

• Non-melanoma skin cancers, unless they have spread to lymph nodes or beyond

• Melanoma that has not grown beyond the top layer of skin

• Prostate tumours below a Gleason score of 7 or below stage T2N0M0

• Thyroid cancers at stage T1N0M0 or below

• Chronic lymphocytic leukaemia below Rai stage 3

• Non-invasive papillary bladder cancer (TaN0M0 or lower)

• Gastrointestinal stromal tumours at T1N0M0 or below with a low mitotic count

Death Benefit

The LIC New Cancer Cover Plan 908 does not pay a death benefit since it is not a term life insurance plan but a pure risk health insurance plan.

Maturity Benefit

The LIC New Cancer Cover health insurance policy does not pay any maturity benefits to the policyholder for surviving the policy term.

LIC New Cancer Cover Premium Calculator

Before you buy the plan, this LIC calculator helps you estimate how much premium you will pay for your LIC New Cancer Cover policy. The premium amount depends on a few choices you make, so the amount can differ a lot from one person to another. The LIC premium calculator works based on the entries you provide it.

Details you shall have to Enter in LIC New Cancer Cover Calculator

• Your age (18 to 65 years, last birthday) and gender.

• Basic Sum Assured: ₹15 lakh to ₹50 lakh, in multiples of ₹1 lakh. The minimum depends on your age.

• Sum assured option whether Level or Increasing.

• Policy term from 10 to 15 years (your age at maturity cannot exceed 75).

• Premium mode whether yearly or half-yearly.

• Whether you are buying online or through an intermediary.

What affects your final premium amount

• Age and gender: Premiums rise sharply with age and they may differ for men and women.

• Sum assured option: The Increasing option may cost more than the Level option for the same sum assured.

• Policy term: The premium differs between 10-year and 15-year terms.

• Premium mode: For half-yearly payment, each instalment is the yearly premium multiplied by 0.5090.

• Online rebate: Buying online directly from LIC gets you 7.5% off the tabular premium for a 10 to 14 year term or 10% for a 15 year term.

• Taxes: These are charged separately on top of the premium.

For a quick idea of the premium, compare your age and term with the sample premium tables below.

Sample Premium Illustration for LIC New Cancer Cover Plan 908

To better understand the payment of premiums, given below is a sample of premiums payable for both the sum assured options. This sample is for yearly premiums for a Basic Sum Assured of Rs. 50 lakhs for policies that will be purchased through offline channels.

The above illustrated premiums are exclusive of any applicable taxes.

LIC New Cancer Cover Plan 908 Plan Details

Some additional and important LIC New Cancer Cover plan details are described below:

Grace Period

If you miss a premium, you get a grace period of 30 days from the date of the first unpaid premium to pay it. This applies to yearly and half-yearly premiums. Your policy stays fully active during this time. If you don't pay within the grace period, the policy lapses and all benefits stop.

If a claim arises during the grace period, LIC pays it after deducting the unpaid premium and any other premiums that fall due between the diagnosis and the next policy anniversary.

Payment of Premiums

You can pay your premium regularly during the policy term, either yearly or half-yearly. For half-yearly payments, the instalment is the yearly premium multiplied by 0.5090.

Rebate for Online Policy Purchase

If you buy the policy online directly from LIC, you get a rebate on the tabular premium. It does not apply if you buy through an agent, corporate agent, broker or insurance marketing firm. The rebate depends on your policy term:

Policy Revival

If you don't pay a premium before the grace period ends, the policy lapses. A lapsed policy can be revived while the Life Assured is alive, within 5 consecutive years of the first unpaid premium and before the policy matures.

To revive the policy, you need to:

• Pay all the overdue premiums with interest, compounded half-yearly.

• Show that the Life Assured is still insurable, by providing the information, documents and reports LIC asks for.

Other conditions:

• The waiting period and exclusions apply again after revival.

• LIC can accept the revival on the original terms, accept it on modified terms or decline it. It takes effect only after LIC approves it and issues a revival receipt.

• The interest rate is 9.5% a year, compounded half-yearly for revivals between May 1, 2026 and April 30, 2027. LIC can change the basis for setting this rate.

• If the policy isn't revived within the revival period, it ends automatically.

Paid-up Value

LIC New Cancer Cover policy shall not acquire any paid-up value.

Surrender Value and Loan Facility

No surrender value will be available under the LIC New Cancer Cover policy. The plan does not offer any loan facility as well.

Free Look Period

If you're not satisfied with the terms and conditions of the Cancer Cover LIC policy, you can return it to LIC within 30 days of receiving the policy document, stating your reasons. The 30 days are counted from the date you receive the electronic or physical copy, whichever comes first.

LIC will then cancel the policy and refund your premium, after deducting stamp duty and the proportionate risk premium for the period you were covered. The risk premium is not deducted for the time the policy was in its waiting period.

Policy Termination

The LIC New Cancer Cover policy shall end whenever any of the following happens:

• The Life Assured dies

• The policy matures

• LIC pays the Major Stage Cancer benefit (the monthly Income Benefit continues to be paid as it falls due)

• Any stage of cancer is diagnosed during the waiting period

• The policy is cancelled during the free look period

• The policy is forfeited, as per the conditions in the policy document

• The revival period expires without the policy being revived

Policy Forfeiture

If the proposal form, personal statement, declaration or related documents contain any untrue or incorrect statement or if any important information is withheld, the policy becomes void. Any claim under it is then subject to Section 45 of the Insurance Act, 1938 as amended from time to time.

Taxes

Any statutory taxes that the Government of India or another government tax authority imposes on insurance plans apply to this policy, at the rates in force from time to time. You pay these taxes on your premiums including any extra premiums and they are charged separately in addition to the premium. The tax you pay is not counted when your benefits are calculated. For the income tax treatment of the premiums you pay and the benefits you receive, please consult your tax advisor.

Exclusions

LIC does not pay for cancers diagnosed or treated in the 36 months before the policy was issued or revived, or for conditions caused by alcohol, non-prescribed drugs or nuclear contamination. If a policy lapses after an early-stage claim, that condition is not treated as pre-existing on revival.

Is the LIC New Cancer Cover Plan Worth Buying?

LIC New Cancer Cover plan 908 shall be a good fit if you want focused financial protection against cancer. It pays a fixed lump sum on diagnosis, 25% of the sum assured at the early stage and 100% at the major stage with a monthly income of 1% for 10 years after a major-stage diagnosis. Premiums are guaranteed for the whole term and the payout is not linked to your actual medical bills, so you can use it for treatment or lost income or any other expense.

You can choose a level or increasing sum assured of ₹15 lakh to ₹50 lakh and an online purchase gets you a rebate. Since it is a pure risk plan with no maturity or surrender benefit, it works best as an addition to your existing life and health insurance and it is good to compare it with other cancer and critical illness covers before you decide.

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