LIC New Cancer Cover Plan 908: Benefits, Eligibility, Premium and Features Explained

Introduction

Cancer is one of the major health concerns affecting families across India. Apart from medical expenses, a cancer diagnosis may also affect household income, savings and long-term financial goals.

To address this specific risk, the Life Insurance Corporation of India (LIC) has introduced LIC's New Cancer Cover, Plan No. 908, a health insurance plan designed to provide financial benefits when an insured person is diagnosed with specified early-stage or major-stage cancer.

The plan is scheduled to be available from 19 October 2026, according to LIC's official website. It offers fixed benefits based on the applicable sum assured and the policy's terms and conditions.

In this article, we explain the key features of LIC New Cancer Cover, its benefits, eligibility criteria, premium payment options and important conditions you should understand before purchasing the policy.

What Is LIC New Cancer Cover Plan 908?

LIC New Cancer Cover is an individual, non-linked, non-participating health insurance plan. It is a regular-premium, pure-risk plan that focuses specifically on eligible cancer diagnoses.

The policy provides defined financial benefits if the insured person is diagnosed with a cancer condition covered under the policy.

Unlike a conventional hospitalisation policy that generally reimburses eligible medical expenses or pays specified hospitalisation benefits, this plan provides fixed benefits according to its policy provisions.

Important details:

Insurer: Life Insurance Corporation of India

Plan Name: LIC New Cancer Cover

Plan Number: 908

UIN: 512N370V01

Policy Term: 10 or 15 years

Premium Payment: Regular premiums, payable yearly or half-yearly

Coverage Type: Specified early-stage and major-stage cancers

Official reference: LIC's New Cancer Cover page.

Key Benefits of LIC New Cancer Cover

1. Early-Stage Cancer Benefit

If the insured person is diagnosed with a specified early-stage cancer and the claim satisfies the policy conditions, the plan pays a lump-sum benefit equal to 25% of the applicable sum assured.

For example, if the applicable sum assured is ₹40 lakh, the early-stage benefit would be ₹10 lakh, subject to the policy terms.

In addition, the policy provides a premium waiver for the next three policy years or the remaining policy term, whichever is shorter, following the specified conditions.

This benefit may help the insured person manage additional expenses and financial commitments during treatment.

1. Major-Stage Cancer Benefit

If the insured person is diagnosed with a specified major-stage cancer and the claim is admissible, the plan pays 100% of the applicable sum assured, regardless of any early-stage cancer claim paid earlier.

For example, if the applicable sum assured is ₹40 lakh, the major-stage lump-sum benefit would be ₹40 lakh.

The exact amount payable depends on the applicable sum assured and the policy conditions.

1. Monthly Income Benefit

One of the important features of this plan is the monthly income benefit following an eligible major-stage cancer diagnosis.

The policy provides a monthly benefit equal to 1% of the applicable sum assured for 10 years.

For example, with an applicable sum assured of ₹40 lakh:

Monthly income benefit: ₹40,000

Benefit duration: 10 years

Total scheduled monthly income: ₹48 lakh

This income benefit is payable according to the policy conditions, including provisions relating to the insured person's survival and the payment of remaining instalments to the nominee.

This feature can help families manage recurring household expenses and other financial commitments.

1. Two Sum Assured Options

LIC New Cancer Cover offers two benefit options.

Option I: Level Sum Assured

The basic sum assured remains unchanged throughout the policy term.

Option II: Increasing Sum Assured

The sum assured increases by 10% of the basic sum assured on each of the first five policy anniversaries, subject to the policy provisions. Further increases stop after a specified cancer diagnosis.

The selected option affects the premium and benefits. Therefore, it is important to compare both options before making a decision.

1. Guaranteed Premiums

The brochure states that premiums are guaranteed throughout the policy term.

This allows policyholders to plan their future premium commitments more confidently, subject to the selected policy option and applicable terms.

LIC New Cancer Cover: Eligibility Criteria

The following eligibility conditions are specified in LIC's official sales brochure.

Particular

Details

Minimum entry age

18 years

Maximum entry age

65 years

Policy term

10 or 15 years

Premium-paying term

Equal to the policy term

Minimum sum assured

Depends on entry age

Maximum basic sum assured

₹50 lakh

Premium payment frequency

Yearly or half-yearly

The minimum basic sum assured varies by age:

Age 18–34 years: ₹35 lakh

Age 35–40 years: ₹30 lakh

Age 41–50 years: ₹20 lakh

Age 51–65 years: ₹15 lakh

The maximum basic sum assured under this plan is ₹50 lakh, taking existing policies under the same plan into account.

Eligibility, underwriting and final acceptance remain subject to LIC's applicable rules.

What Is the Premium for LIC New Cancer Cover?

The premium depends on several factors, including:

Age at entry

Gender

Policy term

Selected benefit option

Basic sum assured

The following examples are taken from LIC's official brochure for a basic sum assured of ₹50 lakh. They are sample annual premiums for offline purchases, excluding applicable taxes, rather than quotations for every applicant.

Age

Option I: Level, 10 years (Male)

Option II: Increasing, 10 years (Male)

20 years

₹4,700

₹5,300

35 years

₹8,050

₹9,700

50 years

₹25,400

₹33,100

60 years

₹73,050

₹97,450

These figures are reproduced from the brochure's sample premium table. Actual premiums must be checked against the official illustration for the applicant's details.

LIC also specifies online-sale premium rebates for eligible direct online purchases: 7.5% on the tabular premium for a 10–14-year policy term and 10% for a 15-year policy term. These rebates are subject to the conditions stated in the brochure.

Waiting Period and Important Conditions

Before purchasing the policy, understand the following restrictions.

1. Waiting period: A waiting period of 180 days applies from policy issuance or revival, whichever is later. Cancer diagnosed during this period is subject to the policy's specified restrictions.

1. Survival period: No benefit is payable if the insured person dies within seven days of diagnosis of a specified early-stage or major-stage cancer, as defined in the policy.

1. Specified cancer definitions: Benefits are available only for cancer conditions that meet the policy definitions. Not every tumour, precancerous condition or cancer diagnosis will qualify.

1. Pre-existing conditions: The brochure contains exclusions relating to certain pre-existing cancer, precancerous and related conditions, including conditions diagnosed or medically advised or treated within the specified 36-month period before issuance or revival.

1. No death or maturity benefit: This plan does not provide a death benefit or a maturity benefit.

1. No loan or surrender value: The brochure states that the policy does not offer a policy loan or surrender value.

Please read the full policy document to understand all exclusions, claim requirements and other conditions before purchasing.

Is LIC New Cancer Cover a Replacement for Health Insurance?

No. A cancer-specific policy and a comprehensive health insurance policy serve different purposes.

A regular health insurance policy may cover eligible hospitalisation and treatment expenses for a range of illnesses, subject to its terms. LIC New Cancer Cover provides specified financial benefits when the defined cancer conditions are met.

Depending on your circumstances, you may need both forms of protection:

Comprehensive health insurance for eligible medical expenses.

Cancer-specific cover for defined lump-sum benefits and scheduled income.

Life insurance to protect your family's financial needs in the event of your death.

The appropriate combination depends on your existing policies, budget, financial responsibilities and insurance needs.

Who Should Consider LIC New Cancer Cover?

This plan may be worth evaluating if you:

Want dedicated financial protection against specified cancer diagnoses.

Have financial responsibilities that could be affected by a serious illness.

Want a defined lump-sum benefit and monthly income following an eligible major-stage cancer diagnosis.

Can comfortably afford the premiums for the selected policy term.

Understand the waiting period, exclusions and absence of death and maturity benefits.

However, the plan may not be suitable for everyone. Compare the coverage and costs with other available insurance options before deciding.

How to Purchase LIC New Cancer Cover

LIC's official website states that the plan is available from 19 October 2026. The brochure describes purchase options through licensed agents and other authorised intermediaries, as well as direct online purchase through LIC's website.

Before buying:

Check the official brochure and policy document.

Compare the level and increasing sum assured options.

Review the premium for your age and selected policy term.

Understand the waiting period and exclusions.

Disclose your medical history accurately.

Read the final policy illustration and terms before completing the purchase.

You can visit LIC's official website at www.licindia.in for the latest product documents and availability.

Frequently Asked Questions (FAQs)

1. What is LIC New Cancer Cover Plan 908?

It is an individual, regular-premium, cancer-focused health insurance plan offering specified benefits for eligible early-stage and major-stage cancer diagnoses.

1. What is the maximum sum assured?

The maximum basic sum assured is ₹50 lakh, subject to LIC's policy conditions and the applicable limit on existing policies under this plan.

1. Does the plan provide benefits for early-stage cancer?

Yes. For a specified, admissible early-stage cancer diagnosis, the plan provides 25% of the applicable sum assured and a premium waiver for three policy years or the remaining policy term, whichever is shorter.

1. How much monthly income does the plan provide?

Following an eligible major-stage cancer diagnosis, the plan provides a monthly income benefit of 1% of the applicable sum assured for 10 years, subject to policy terms.

1. Is there a waiting period?

Yes. The specified waiting period is 180 days from policy issuance or revival, whichever is later.

1. Does LIC New Cancer Cover provide a maturity benefit?

No. The official brochure specifies that there is no maturity benefit or death benefit under this plan.

1. When will the plan be available?

LIC's official website states that the plan will be available from 19 October 2026.

Conclusion

LIC New Cancer Cover Plan 908 introduces a dedicated approach to financial protection against specified cancer diagnoses. Its early-stage benefit, major-stage lump-sum payment, premium waiver and 10-year monthly income benefit may help policyholders manage some of the financial consequences of a cancer diagnosis.

However, the plan has specific eligibility requirements, a 180-day waiting period, exclusions and no death or maturity benefit. It should therefore be evaluated alongside your existing health insurance and life insurance rather than treated as a complete replacement for either.

At AnandM Insurance, our approach is to help customers understand policy features, compare available options and make informed insurance decisions based on their individual needs.