Switch to cancer specific insurance plans to fight against dreadful disease

Health Insurances 217 views

The world goes upside down, the morale gets shattered, the motivation falls to zero and the the mind goes blank when a dreadful disease like cancer enters into anyone's life. We all pray that nobody gets caught with cancer. It's better to stay away from it. But one's destiny may not fall in line with our pray. So, there can be casualties of cancer. Not only it drains you emotionally but also financially as the treatment cost of cancer can touch the level as high as Rs 10 lacs or even more. This may sound little to the riches but the lower middle class people simply lose hopes by hearing such high treatment costs of cancer. But you can exude confidence to fight against the disease with some cancer specific insurance plans. Though, it does not guarantee the eradication of the disease but gives you the financial support through which you can atleast be prepared to fight and hope for a victory. You can take inspiration from the popular saying in Hindi, “Bhagwan ke ghar me der hai Andher Nahi”, to beat cancer. So, we have chosen the moment to discuss extensively on cancer care insurance plans.

Cancer Care Insurance Plans

Cancer care insurance plans offer you the cover for costs incurred from earlier to advanced stages of cancer. These costs include the expenses on hospitalization, chemotherapy, surgery and radiation, which are required in the treatment of the disease.

Modus Operandi

If the insured individual is diagnosed with a cancer of a particular severity, he/she can receive a certain percentage of the sum assured as lump sum subject to applicable limits during that time. The benefit of cancer plans differs according to the stages of cancer and the claims made in the policy earlier. You can get regular cancer check-ups at free of cost throughout the entire term in the some of the policies.

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Features & Benefits

  • Minimum Entry Age18 years
  • Maximum Entry Age-65 years
  • Renewability norm varies from policy to policy once the policyholder attains the age of more than 65 years
  • Minimum sum assured-Rs 5 lacs
  • Maximum sum assured-Rs 50 lacs
  • You can get the benefit of premium waiver in some cases. Subsequent to the approval of the claim under the clause of major stage cancer benefits, all the premiums payable towards the policy in the future get waived off for the remaining term. But, an insured has to pay all the premiums regularly and on time to receive this benefit.
  • Cancer care plans offer you better value on your money
  • Premiums paid towards cancer insurance plans are eligible for tax deduction under Section 80D of the Income Tax Act.

Pitfall

  • Cancer care insurance plans do not usually provide death, surrender or maturity benefits.

Coverage

  • Stomach Cancer
  • Lung Cancer
  • Breast Cancer
  • Ovarian Cancer
  • Prostate Cancer
  • Hypo-larynx Cancer

What's not Covered?

  • Skin Cancer
  • Cancer resulting from STDs, AIDS or HIV
  • Cancer from pre-existing medical conditions, congenital conditions, and chemical, biological or nuclear contamination

List of Cancer Insurance Plans

  • ICICI Cancer Care Plus
  • National Insurance + CPAA Cancer Insurance Policy
  • National Insurance + ICS Cancer Insurance Policy
  • HDFC Life Cancer Care
  • Others

As you have gained the information on cancer care insurance plans, you thus are in a position to take a call on the same. A critical illness cover is a comprehensive package and provides coverage for many critical illnesses in addition to cancer, such as diabetes, blood pressure, chronic renal failure, etc. But if you can afford the burden of additional premium, you can then look to buy cancer specific insurance plan to ward off the menace.

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