Page 45 - Insurance Times July 2019

Life Insurance Plan

Cancer Shield Plan

from Aditya Birla SunLife Insurance
Co. Ltd.

How does the plan work 105% of all the premiums paid till the date of a valid
claim; or
STEP 1: Choose your Sum Assured and Plan Option (Level
Sum Assured | Increasing Sum Assured*) Minimum guaranteed sum assured on maturity; or

STEP 2: Choose Your Policy Term Effective Sum Assured
The only illness covered under this plan is Cancer.
STEP 3: Choose the Income Benefit Option
Annual Premium is the premium payable in a year chosen
* The effective sum assured in the first year will be equal
by the policyholder, excluding the underwriting extra
to 100% of the initial sum assured. Thereafter, as long as
premiums, GST and loadings for modal premiums, if any.
no claim event has occurred, the effective sum assured
The minimum guaranteed sum assured on maturity is nil.
will increase by 10% of the initial sum assured on each
policy anniversary starting from the first policy anniversary
Income Benefit Option
till the tenth policy anniversary.
You will have an option to choose this benefit at policy
inception only and once chosen cannot be opted out.
Key Features
Under the Income Benefit Option, a monthly income
Covers all stages of Cancer i.e. Early Stage of Cancer
equivalent to 1% of the Sum Assured on Illness would be
and Major Stage of Cancer
paid out once a claim for Major Stage Cancer has been
Option to choose level or increasing cover
admitted. This monthly income benefit will be payable for
Option to receive monthly income for 5 policy years a fixed period of next 5 years even beyond the policy expiry
on diagnosis of Major Stage of Cancer date. In case of death of the policyholder, nominee will
continue to receive the income benefit.
Waiver of premium for 5 years on diagnosis of Early
Stage of Cancer
Eligibility
Tax Benefits as per Section 80D of the Income Tax Act,
Entry Age 18 - 65 Years
1961 as per current tax laws(1)
Maturity Age or 75 years
(1)Tax benefits are subject to changes in tax laws. Please
Cover Ceasing Age
consult your tax advisor for more details.
Policy Term Minimum - 5 Years /
Maximum - 20 Years
Policy Benefit
Premium Paying Term Regular Pay
Early Stage of Cancer - On diagnosis of Early Stage of
Cancer, 30% of the Sum Assured on Illness will be paid. Premium Paying Mode Annual | Semi-Annual |
Quarterly | Monthly
Major Stage of Cancer - At the Major Stage of Cancer, 100%
of the Sum Assured on Illness less any previously paid claim Sum Assured Minimum - Rs.10 Lakhs /
for Early Stage of Cancer under the policy will be paid. Maximum - Rs.50 Lakhs
Sum Assured on Illness is the highest of For Cancer definition and exclusions please refer to the
10 times the annual premium; or product brochure.

The Insurance Times, July 2019 45