Blog

5 Best Cancer Insurance Plans In India

Any medical illness can threaten the foundation of a happy family. Cancers rank high amongst the deadliest of diseases that not only drains you mentally but also financially. It seems that this disease is all time high throughout the world owing to many causes, which is why several Health Insurance companies introduced Specialised Cancer Insurance Plans to lessen the burdens of their clients.

Cancer Insurance Plans in India

Although insurance companies offer Critical Illness plans, many only cover advanced stages of cancer, which is not the ideal solution when there are so many costs to bear right from diagnosis. Described below are the five best Cancer Insurance Plans that are available:

ICICI Pru Cancer Protect

ICICI Pru Cancer Protect plan covers you from the beginning of the diagnosis including free cancer screening, the cost of chemotherapy, targeted therapy, PET-CT scans, medications, and hospitalisation, recovery and living expenses after that.

Features:

  • Eligibility: 18-65 Years
  • Minimum Sum Assured: Rs. 5 Lakhs
  • Maximum Sum Assured: 23 Lakhs
  • Policy Term: 5 to 50 Years

Benefits:

  • All the stages of cancer: Pre-cancerous, carcinoma in-situ, early and severe stages except skin
  • Lump sum payout after the first diagnosis: Minor is 25% and major condition at 100%
  • Hospital daily cash benefit Rs. 5000/day
  • Cover can be increased by 10% every year till the sum doubles
  • Income benefit of 1% of base amount every month for five years
  • Family floater policy plans available
  • Hospital of your choice
  • Premium waiver policy if diagnosed even with minor condition or permanently disabled
  • No need of co-payment
  • Tax benefits under section 80D

    HDFC Life Cancer Care

The HDFC Life, Cancer Care policies, have silver, gold and platinum plans. This plan too covers all types of cancer from diagnosis up until recovery.

Features and Plans:

  • Eligibility: 18-65 Years
  • Minimum Sum Assured: Rs. 10 Lakhs
  • Maximum Sum Assured: Rs. 40 Lakhs
  • Policy Term: 10 to 20 Years

Silver

  • Cancer diagnosis lump sum benefit minor conditions at 25% and major at 100%
  • Early stages and terminal cancers
  • Waiver on premium benefit for three years

Gold

  • Sum insured increases by 10% every year until the sum insured becomes 200% of the initial insured amount
  • Any claim will not alter the primary policy amount

Platinum

  • Income benefit of 1% of the initial sum insured from the time of diagnosis for the next five policy years
  • Upon the death of the policyholder, the remaining payouts will be paid to the nominee

Benefits:

  • Comprehensive plan for you and your family
  • Lump sum as payout when diagnosed with early cancer to terminal stage
  • Premium waived after the first claim for the next three policy years
  • Platinum plan offers Income Benefit for five years
  • 10% Sum Insured increased every year under Gold and Platinum plans until it is 200% of original sum
  • Tax benefits up to Rs. 55,000

    AEGON Religare iCancer Insurance

AEGON Religare iCancer Insurance is also a comprehensive cancer insurance plan that covers all costs of the illness from the time of the diagnosis be it a benign or malignant cancer. The payouts are designed to benefit the policy holder at every stage of the disease.

Features:

  • Eligibility: 18-65 Years
  • Minimum Sum Assured: Rs. 10 Lakhs
  • Maximum Sum Assured: Rs. 50 Lakhs
  • Policy Term: 5 to 70 Years

Benefits:

  • It covers all the types of cancer and at various stages of the illness
  • Lump sum payout of 150% of the initial policy sum at a critical stage of the disease
  • Benefits and payouts are in accordance with the stage of the cancer
  • Major stage cancer benefit: All future premiums will be waived off after a claim
  • Tax benefits under the Section 80D of IT Act

    Max Bupa

The plan from Max Life Bupa covers cancer and its associated illnesses as a part of its critical illness cover. The basic premium is about Rs. 8500 for a coverage of Rs 10 Lakhs. This insurance plan also covers heart diseases, bone marrow transplant and end-stage liver disease as well.

Features:

  • Eligibility: 25-65 Years
  • Minimum Sum Assured: Rs. 10 Lakhs
  • Maximum Sum Assured: Rs. 50 Lakhs
  • Policy Term: 10 to 40 Years

Benefits:

  • The Max Bupa cancer insurance plan covers all stages of the disease
  • Up to 20% of initial sum insured as a payout in early stage cancer and a future premium waiver until policy term ends
  • Up to a 100% of the basic sum insured in case of a major stage of cancer from diagnosis to recovery
  • Claim paid for an early stage cancer is eligible for an income benefit after that for a period of up to five years from the policy’s anniversary
  • An inbuilt-indexation of 10% increase every year throughout the policy period, provided no claim has been made or until the sum reaches 150% of the initial sum that was insured
  • Tax benefits are applicable to the premiums that are paid along with the benefits provided to you as per the section 80D of the Indian tax law

    Bharti Axa Cancer Insurance

Bharti Axa’s Smart Health Critical Illness covers cancer at various stages and in various forms. You get a coverage of up to Rs 5 lakhs under this plan. The premium is around Rs 3400 for a sum insured for Rs 5 lakhs. There is no medical required for this policy.

Features:

  • Eligibility: 18-65 Years
  • Minimum Sum Assured: Rs. 2 Lakhs
  • Maximum Sum Assured: Rs. 30 Lakhs
  • Policy Term: 10 to 40 Years

Benefits:

  • You can claim up to three times during the policy tenure
  • 100% of the basic Sum Assured is payable
  • Skin cancer other than invasive malignant melanoma are covered
  • Cancer of specified severity are all covered within the policy
  • Benign brain tumour and bone marrow transplant
  • Waiver of premium benefit after the first claim
  • Tax benefits as per 80D section of IT Act

Cancer Insurance Plans essentially must provide cover from diagnosis to recovery and palliative care. It must also provide coverage for all the stages of cancer the policyholder or the beneficiary may suffer from. All costs including chemotherapy and radiation costs, hospitalization and surgery costs must be covered. Taking out a family floater policy is beneficial for the entire family along with the income benefit it provides. Buy cancer insurance online for fast and convenient processing.

Cancer Insurance Plans in India

555,656 total views, 8 views today

You May Also Like