5 Best Cancer Insurance Plans In India

Cancer is a disease and not an ailment. It can engross anyone at any age in life. To get this treated one needs to have ample money.

A sudden demand for money can drive you and your family mad and worried. But things can be made easier with the best cancer insurance plans. A strong will-power and a planned cancer Insurance gives you hope in hard times. The plan can save your family from a financial burden.

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.

Different Stages Of Cancer

The stages have been discussed in detail for further clarification:

• Stage 0: In this stage, there is no cancer found in the body but there are cells found in the body which have the potential and probability to form cancer. The stage is termed as carcinoma in situ stages.
• Stage I: Cancer is particularly in one area of the body and very small in size. The stage is also termed as early-stage cancer.
• Stage II & III: In this, cancer starts spreading in surrounding tissues and the lymph nodes.
• Stage IV: By this time cancer has reached an advanced level and spreads in one of the organs or the entire body. This is the last stage and the most crucial stage of cancer.

Note: The main point to be kept in mind is that whichever cancer insurance plan you opt for should cover all the stages of cancer with the proper clause of inclusion of terms and conditions.

Types of Cancer Covered Under The Cancer Insurance Policy

The insurance companies and their policies may or may not cover all the types of cancer depending on their norms. So, it is better to go through the policy in detail and search for the types they cover. Few of the types have been mentioned below:

• Lung cancer
• Stomach cancer
• Breast cancer
• Prostate cancer
• Ovarian cancer
• Hypopharynx cancer

Domains Covered Under A Cancer Insurance Plan

A cancer insurance plan can cover several domains and can provide a number of facilities depending on the terms and conditions mentioned in the plan. It can provide with following things in general:

• Provides regular and free cancer check-ups during the tenure of the policy.
• The payouts are planned based on the severity and stages of the disease.
• Financial as well as mental security, and relief under the policy claim as it pays out the treatment amount.
• It provides flexibility as one can choose a waiver in premium for the remaining policy period. This is beneficial when there is no premium to be paid and a claim for minor stage cancer gets approved.

The activities of the insurance companies have been thoroughly researched and PolicyX brings to you the five best cancer insurance plans served by the insurance companies based on the analysis of IRDA. Our customer care helpline number is there to resolve your further queries. The best five cancer insurance plans have been mentioned below based on the 2017-2018 reports. It puts forth the facts and figures that will prove helpful to you in making further decisions:

Five Leading Cancer Insurance Plans in India

1. Max Life Cancer Insurance Plan
2. LIC Cancer Cover Plan
3. TATA AIA Life Insurance Vital Care Pro
4. ICICI Pru Heart And Cancer Plan
5. HDFC Life Cancer Insurance Plan

Max Life Cancer Insurance Plan

The eligibility criteria play an essential role in buying a policy and it is common for all the policies when it comes to age, tenure and amount assured. The only difference is that it varies from plan to plan.

Features and Benefits:-

• The age limit for the policy is a minimum of 18 years and a maximum of 65 years fixed by the company.
• Amount insured ranges from 10 lakhs to 50 lakhs during the tenure of the policy which ends for a minimum of 10 years and a maximum of 40 years.
• The insurer can not provide a claim on pre-existing symptoms that might lead to cancer, cancer caused by sexually transmitted diseases or cancer caused by nuclear contamination and alcoholism.
• The patients having cancer in the first three stages are benefited by this policy as in 20% of the index sum insured is paid and the rest is made note off.
•  If the cancer is not cured and conditions worsen to the critical stage then the rest of the amount is paid.
•  This insurance policy has particularity as it has few of cancer mentioned in their clause. These are breast, vulva, ovary, rectum, urinary tract.
• The policy is for 20 years of limit along with an age limit of 75 years.
• This plan is also applicable to smokers.

LIC Cancer Cover Plan

LIC of India provides these benefits during the tenure of the policy:

Features and Benefits:-

• In lump sum benefit the 25% of the applicable sum insured under the policy will be payable.
• The age limit under this policy is considered 20 years as the minimum age limit and 65 years as the maximum age limit.
• The policy tenure is 10 years to 30 years.
• The amount insured under the policy’s terms and conditions vary between 10 lakhs to 50 lakhs.

TATA AIA Vital Care Pro

A unique critical illness plan provides the facility for 15 critical illnesses and an approximate recovery of 60,00,000 rupees. The age limitations are 18 years and 65 years at max. The sum insured can vary from 20 lakhs to 60 lakhs. The tenure of the policy is 10 years to 30 years. Other offers are there like:

Features and Benefits:-

• Pro Care: Lump-sum benefit
• Pro Care Plus: Provides income tax benefits along with lump-sum benefits.
• The policy also provides benefits for a spouse.
• Duo Care: A lump-sum benefit with joint-life benefits are mentioned.
• Duo Care Plus: This covers all the three lump-sum benefits, income loss benefit, and joint-life.
• According to 80D of the income tax act, 1961, the policyholder can have the tax benefits up to the sum assured of Rs. 20,00,000.

ICICI Pru Heart And Cancer Plan

ICICI offers a cancer insurance plan under the name ICICI Pru Heart And Cancer Plan with following eligibility, benefits, and features.

Features and Benefits

• An additional benefit of Rs. 5000 per is provided if you are hospitalized.
• Other than this a good amount of Rs 25000 can be saved in income tax under 80D policy term.
• The age limitations are minimum of 18 years and maximum of 65 years of age.
• The tenure mentioned is at least 5years and at most 40 years.

HDFC Life Cancer Care Plan

HDFC has varieties of cancer insurance plans, unlike any other insurance company. The same is explained below:

Features and Benefits

• Silver: It works for the carcinoma-in-situ stage which is the initial stage of cancer. In this 25% of the sum insured will be paid and the premium is for the tenure of 3 years.
• Gold: It works for the major stage. This is a continuation of the silver plan.
• Platinum: This plan is applicable until the cancer is completely diagnosed and similarly its the continuation of the gold plan.
• The policyholder gets the claim if he is detected with cancer within 180 days of purchase of the policy or renewal of the policy.

Precaution is better than cure so without pondering whether you will get this disease or not, just go for one of the life-saving cancer insurance plans. Life is unpredictable and so are the diseases. It is better to be prepared with cancer coverage plans than to lament on situations. The insurance companies and policies are for your services 24*7 as everything is online in today’s world. You can buy a policy in one click and save your family.