Cancer insurance is a type of health insurance policy that provides insurance coverage specifically for cancer. Basically, it helps the policyholder to manage the cancer treatment cost by providing financial assistance in the hour of need. If one has a family history of cancer, then it is wise to prepare well beforehand for the treatment expenses. In that regard, buying a cancer insurance policy is a good step in the right direction.
Having a policy of this kind gives the policyholder much-needed assurance that his/her family will be financially safe and secure in case he/she develops cancer. That being said, most cancer insurance plans offer comprehensive coverage.
While the individuals who have a family history of cancer are more exposed to develop cancer, anyone can develop this disease irrespective of his/her lifestyle, family history, and health conditions. Therefore, it is always advisable to have a cancer insurance policy.
|Plan Name||Sum Assured
|HDFC Life Cancer Care Plan||Rs.10 Lakh to Rs.40 Lakh||18 years to 65 years||10 years to 20 years|
|ICICI Cancer Care Plus||Rs.5 Lakh to Rs.25 Lakh||20 years to 60 years||10 years|
|Aegon Life iCancer Insurance Plan||Rs.10 Lakh to Rs.50 Lakh||18 years to 65 years||5 years till the policyholder turns 70 years|
|Birla Sun Life Cancer Shield Plan||Rs.10 Lakh to Rs.50 Lakh||18 years to 65 years||5 years to 20 years|
|PNB MetLifeMera Heart and Cancer Plan||Rs.10 Lakh to Rs.80 Lakh||18 years to 65 years||10 years / 15 years / 20 years|
Below mentioned are the types of cancer covered by most of the cancer insurance plans in India:
Here are the benefits offered by the cancer insurance:
The inclusions of a cancer insurance plan depend upon the type of policy an individual opts for.
The common exclusions of most of the cancer insurance plan are:
Cancer is a critical illness that can attack anyone without any permission. As per the last 10 year’s data, cancer has become one of the most common diseases. Therefore, maintaining a good lifestyle is as important as buying a cancer insurance policy.
Below mentioned are some of the reasons why one needs a cancer insurance plan:
Since there are various cancer insurance policies available online, it becomes difficult for anyone to select the most suitable plan. Below mentioned are some factors that one should consider in order to purchase the most suitable cancer insurance plan:
The claim settlement process depends on the insurance provider. That being said, here are general steps that one has to follow for a filing cancer insurance claim:
After intimating, the insured needs to duly fill in the claim form, attach all the relevant medical documents and submit it to the insurance provider.
Generally, all the insurance companies provide a timeline within which one has to file the claim.
Ans: No. The proposal forms are accepted by the insurance provider, even if you have a family history of cancer. However, you have to provide a detailed description of your family history of cancer.
Answer: One has to meet the age criteria of the plan, which generally covers an adult between the age group of 18 to 65 years.
Ans: Typically, a cancer insurance policy does not cover any-pre-existing disease. For detailed terms and conditions of a plan, you can go through the brochure of the preferred policy.
Ans: Most of the cancer insurance policies do not provide any death benefit to the nominee of the insured. However, if there is a clause of the death benefit in the policy, then the nominee will get the benefits.
Ans: In order to get the payout offered by the insurance plan, the insured must survive for a specific number of days after diagnosis of the disease. This period is known as the survival period.
Ans: The waiting period is a time period after which the coverage of the policy can be availed. Even though the waiting period varies with the insurance provider, most cancer insurance plans come with a waiting period of 180 days. If the insured is diagnosed with cancer during the waiting period, then he/she is not eligible to avail the insurance coverage.
Ans: Yes, the cancer insurance policies also have a free-look period of 15 days to 30 days.
Ans: A critical illness insurance policy provides coverage for critical illnesses like heart attack, kidney failure etc. While some critical insurance policies cover cancer, it offers a basic insurance coverage. On the other hand, a cancer insurance plan provides comprehensive insurance coverage to the policyholder. Therefore, it is wise to buy a cancer insurance policy especially if cancer runs in your bloodline.
Ans: It entirely depends upon the insurance provider, whether one has to undergo preliminary medical screening or not.
Ans: The policyholder has to provide the following documents while filing a claim: