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Life is full of uncertainties with a capacity to take a toll on our health. Along with unforeseen stress and emotional pain, it also brings financial instability to our lives. Hence, it is imperative to remain prepared in advance to tackle the critical illness at the time of need. One such illness is cancer, which increases the need for a plan to back our finances.

With Cancer Insurance Plans, one can cover the various costs with respect to the diagnosis of cancer, treatment, hospitalization, chemotherapy, radiation, surgery, etc. In such scenarios, the money is payable at various stages of cancer diagnosis, including minor, major and critical stages. This can help you focus on recovery instead of worrying about the cost of treatment.

List of Top 5 Cancer Insurance Plans in India

The below table demonstrates a list of top 5 cancer insurance plans in India that are covered by 5 different insurance providers. They are chosen based on the highest Incurred Claim Ratio as per IRDAI report 2018-2019.

Company Name

Insurance Plan

Age at Entry

Sum Insured/Assured

Incurred Claim Ratio *2018 - 2019

LIC of India

LIC Cancer Cover

20 years – 65 years

Rs. 10,00,000 to Rs. 50,00,000


Max Life

Max Life Cancer Insurance Plan

25 years – 65 years

Rs. 10,00,000 to Rs. 50,00,000


HDFC Life Insurance

HDFC Life Cancer Care

5 years – 65 years

Rs. 10,00,000 to Rs. 50,00,000


SBI Life

SBI Sampoorna Cancer Suraksha

6 years – 65 years

Rs. 10,00,000 to Rs. 50,00,000


ICICI Prudential

ICICI Pru Heart and Cancer Insurance

18 years-60 years

Rs.25,00,000 for heart cover & Rs. 50,00,000 for cancer cover


1. LIC Cancer Cover

By paying a regular premium for this health insurance plan, you can avail financial protection in case you are diagnosed with any of the specified early and/or major stage cancer during the policy term.

Features and Benefits

  1. Flexibility to choose between two benefit options – Level Sum Insured and Increasing Sum Insured.
  2. Get 25% of applicable sum insured as lump sum benefit and premium waiver benefit upon diagnosis of Early Stage Cancer.
  3. Get 100% of applicable sum insured as a lump-sum benefit, income benefit of 1% of applicable sum insured and premium waiver benefit upon diagnosis of Major Stage Cancer. Know More

2. Max Life Cancer Insurance Plan

This covers the cost of cancer treatment, which is very expensive and can easily turn into a huge financial burden on not just you but also your family. 

Features and Benefits

  1. Get comprehensive protection against all stages of Cancer, including early, major and critical stages.
  2. Get immediate payout upon diagnosis of cancer, irrespective of the stage of cancer you are diagnosed in.
  3. Have your sum insured increased by 10% for the first 5 claim-free years at no extra cost? Know More

3. HDFC Life Cancer Care

This plan by HDFC life offers a lump sum benefit in case the life insured is diagnosed with cancer and helps protect their income and savings from the burdening medical expenses.

Features and Benefits

  1. Eligibility to choose from 3 different plan options that cover you with varying benefits – Silver, Gold and Platinum.
  2. Flexibility to pay your premium at your choice of frequency – annual, half-yearly, quarterly or monthly.
  3. Avail waiver of premium benefit for a period of policy years upon diagnosis of early-stage cancer. Know More

4. SBI Sampoorna Cancer Suraksha

This individual, non-participating and non-linked health insurance plan helps you prepare yourself financially in order to defeat cancer with complete reliability and affordability in place.

Features and Benefits

  1. Flexibility to avail 1.20% of sum assured as monthly income for 3 years instead of 40% of sum assured payable upon diagnosis of major stage cancer.
  2. Choice of availing second medical opinion from a panel of medical experts.
  3. Avail 5% discount on your premium upon online purchase. Know More

5. ICICI Pru Heart/Cancer Protect

You can now cover the cost of your cancer treatment with the help of this insurance plan that is unlike any other traditional health insurance plan as it provides a lump sum payout without any medical bills.

Features and Benefits

  1. Avail 5% discount on your first year of premium when you buy the health cover for yourself and your spouse.
  2. Get a 5% loyalty discount on your first year of premium in case you are an existing customer holding another policy with ICICI Prudential Life Insurance.
  3. Get a waiver of premium upon diagnosis.

With the above top 5 insurance plans covering cancer treatment under Critical Illness Insurance, you can lead a stress-free recovery period without burdening yourself and your loved ones with financial insecurity. Know More

Naval Goel is the founder of He is an Associate Member of the Indian Institute of Insurance`, Pune. He has been authorized by IRDA to act as a Principal Officer of Insurance Web Aggregator.
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