A cancer insurance policy is a financial cover that lowers the burden of cancer treatment with coverage for hospitalisation, therapies, and other non-medical expenses. It is a financial safety net that helps people during unprecedented cancer detection. The cancer insurance plan offers complete protection from pre-hospitalization tests to patient care and post-hospitalization treatments. This way, people across ages can secure their health and savings against the life-threatening cancer disease accounting for over 10 million deaths in 2020.
Every year, over ten lakh people are diagnosed with cancer in India, and another six to seven lakh people lose life to this life-threatening condition. Studies anticipate that India might witness over 17 lakh new cancer patients by 2035 and 12 lakh deaths yearly. The alarming facts and unprecedented health conditions are the major reasons you should opt for cancer coverage. Further, the coverage of family health insurance plans might prove to be insufficient to cover the expensive treatment costs of specialised cancer treatment. Other critical reasons to buy a cancer insurance plan are:
Increasing Cancer Cases
Cancer is the leading cause of death worldwide– pointing to the need of early detection and timely treatment and care
Expensive Treatment Cost
Treatment cost of cancer goes in lakhs and sometimes beyond; thus you need suitable coverage & security for a lifetime.
High Risk of Ailments
Old age people are most vulnerable to the risk of cancer due to age-related ailments and weaknesses, that must be covered.
Financial Struggles
Cancer is a terrifying condition that pushes people into the financial and emotional turmoil that can be avoided with a mediclaim plan.
Family History of Cancer
Care’s cancer mediclaim is one of the most promising cancer care insurances that ensure its support when you are most vulnerable. Cancer is a dreaded disease that requires attention and constant care. We believe in providing a safety cushion that ensures smooth recovery beyond the post-hospitalisation period. Care Health Insurance’s cancer health insurance covers all types of cancer, including-
Care’s cancer policy comes with comprehensive benefits that would help you when you need financial assistance during your treatment of any kind of cancer.
If you have a family history of chronic or heavy chain diseases, you should opt for a plan covering several cancer conditions.
Cancer insurance works on the same indemnity principle as other health plans, with a fixed sum insured for a payout of regular premium amounts. One can buy a cancer cover individually for a tenure of 1, 2, or 3 years.
The foremost step is to determine how much coverage suits you based on your health status and budget. Once you choose an adequate sum insured, you can file for a cancer-related claim after completing the required waiting period of initial 90 days and 2 years for pre-existing diseases. Also, you can pay the premium in easy instalments in a monthly or quarterly mode. Note that your sum insured is bound to increase by a maximum of 50% as a reward for staying healthy and maintaining a claim-free year. Learn more about how cancer insurance works with the help of the below example.
People below 50 are eligible to secure their lives with a Cancer Insurance Plan by Care Health Insurance. Here are some other crucial cancer policy details:
| Cancer Insurance Plan Details | |
|---|---|
| Minimum Entry Age |
|
| Maximum Entry Age | 50 Years |
| Exit Age | No Bar |
| Cover Type | Maximum 6 Persons on Individual Basis |
| Tenure | 1/2/3 Years |
| Pre-policy Medical Check-ups | No Medicals Required |
| Sum Insured Options | 10 Lakhs to 2 Crores |
An unhealthy lifestyle, physical inactivity, smoking, and drinking are the major causes of cancer. That’s why you need complete protection against the health risks arising due to cancer. Check out the wide-ranging coverage and benefits of the cancer cover policy by Care Health Insurance:
Comprehensive Protection at All Stages
Our Cancer Care Plan secures your health and finances against all the stages of cancer– starting from detection and tests to therapies and recovery sessions
In-patient Hospitalisation
We have your back during the entire hospitalisation period with in-patient coverage for room charges, doctor’s fee, oxygen, etc., up to the sum insured
Pre & Post-hospitalisation Expenses
We share your burden right from the medical examinations to the recovery phase with 30-days pre and 60-days post hospitalisation coverage up to the SI
Chemotherapy & Radiotheraphy Cover
The policy provides coverage for the essential chemotherapy and radiotherapy expenses up to the sum insured through cashless and reimbursement facility
Day Care Treatments
The Cancer Mediclaim covers several day care procedures involving less than 24 hours, including neurology, oncology, pediatric surgery, and others
Annual Health Check-ups
As a preventive care measure, the policy covers health check-ups once every year, including tests like CBC, ECG, KFT, and others as per policy terms
Quick Recovery Counselling
The policy contains several health services like quick recover counselling, doctor on call, and a digital health portal for all your wellness needs
Ambulance Cover
We ensure that you reach the hospital without worrying about the bills. The policy covers ambulance expenses up to INR 3000 per hospitalisation
With adequate coverage and unique benefits, a cancer insurance plan offers the right security against financial crunches. However, before you buy a plan, it is essential to read the policy documents thoroughly and be informed about the following exclusions:
Some of the best cancer care plans in India provide a 15-day Free Look Cancellation period, allowing prospective policyholders to review the policy's terms and conditions before committing to it. If you find them unsatisfactory, you can return the policy documents, expressing dissatisfaction which will allow for a refund of the premium charged, as per the terms and conditions of the policy.
A Cancer Insurance Policy is a specialized health insurance plan designed to provide financial coverage specifically for the diagnosis and treatment of cancer. It ensures that the insured person receives adequate financial support to cover the high costs of cancer treatment, including hospitalization, chemotherapy, radiation, surgery, and other related expenses.
Unlike general health insurance, which provides broad coverage for various illnesses, cancer insurance is focused exclusively on different stages of cancer, often providing a lump-sum payout or covering specific expenses.
Stage-Based Payout
Wide Coverage for All Cancer Types
High Coverage Amount
Income Replacement Benefit
Coverage for Treatment Costs
No Claim Bonus (NCB)
Premium Waiver
Tax Benefits
Renewability
Diagnosis Costs
Hospitalization Expenses
Treatment Costs
Pre- and Post-Hospitalization
Critical Illness Coverage (optional)
Recovery and Rehabilitation
Cancer insurance policies typically exclude:
Pre-existing Cancer Conditions
Skin Cancer
Cancer Due to Lifestyle Choices
HIV/AIDS
Waiting Period Exclusions
Financial Security
Focused Coverage
Peace of Mind
Income Protection
Tax Benefits
People with a Family History of Cancer
Individuals with High-Risk Lifestyles
Those Without Comprehensive Health Insurance
Elderly Individuals
Identity Proof
Age Proof
Address Proof
Medical History
Photographs
Proposal Form
An unhealthy lifestyle, physical inactivity, smoking, and drinking are the major causes of cancer. That’s why you need complete protection against the health risks arising due to cancer. Check out the wide-ranging coverage and benefits of the cancer cover policy by Care Health Insurance:
Comprehensive Protection at All Stages
Our Cancer Care Plan secures your health and finances against all the stages of cancer– starting from detection and tests to therapies and recovery sessions
In-patient Hospitalisation
We have your back during the entire hospitalisation period with in-patient coverage for room charges, doctor’s fee, oxygen, etc., up to the sum insured
Pre & Post-hospitalisation Expenses
We share your burden right from the medical examinations to the recovery phase with 30-days pre and 60-days post hospitalisation coverage up to the SI
Chemotherapy & Radiotheraphy Cover
The policy provides coverage for the essential chemotherapy and radiotherapy expenses up to the sum insured through cashless and reimbursement facility
Day Care Treatments
The Cancer Mediclaim covers several day care procedures involving less than 24 hours, including neurology, oncology, pediatric surgery, and others
Annual Health Check-ups
As a preventive care measure, the policy covers health check-ups once every year, including tests like CBC, ECG, KFT, and others as per policy terms
Quick Recovery Counselling
The policy contains several health services like quick recover counselling, doctor on call, and a digital health portal for all your wellness needs
Ambulance Cover
We ensure that you reach the hospital without worrying about the bills. The policy covers ambulance expenses up to INR 3000 per hospitalisation
Cancer care plans and healthcare policy work on the same principles of indemnity yet differ with respect to coverage, sum insured options, and eligibility. Also, you may be insured under a standard health cover but would still need a separate cancer insurance plan to ensure protection against cancer-related medical expenses. Here, read about the major differences between the two plans:
| Factors | Cancer Insurance | Health Insurance |
|---|---|---|
| Coverage | A comprehensive cancer care policy covers all incurred medical expenses related to cancer. | Covers the general medical and surgical costs of the insured person. Hospital costs are covered and there may be sub-limits for room rent, etc. |
| Who Should Buy? | Individuals who have higher risks should consider the cancer care plan. In addition to a basic policy, you can buy a cancer care policy to supplement the protection. | A standard health policy should be purchased by everyone, regardless of age. With rising healthcare prices, health insurance should take priority in your financial plan. |
| Why Should You Buy? | A regular health plan could be insufficient in the event of a serious illness or cancer. As a result, critical illness and cancer coverage are needed.It covers the cancer care expenses incurred that can be otherwise financially challenging. Also, the compensation under cancer insurance plan can be used to pay off the other financial liabilities. | It is a simple indemnity-based plan that reimburses medical costs or provides cashless health care. It is ideal for covering rising hospitalisation costs, care, diagnosis, medical assistance, and other medical expenses, thus enabling one to bear the impact of medical inflation. |
It is important to purchase a comprehensive cancer care plan, such as the one provided by Care Health Insurance. Cancer insurance outperforms most healthcare plans because the cost is low and coverage is available for all stages of cancer.
Below are the main benefits of purchasing your insurance for cancer treatment online:
If you are anxious about your maternity, we have maternity insurance taking care of your precious journey.
Buying an ideal cancer policy in India can be confusing, especially when you are unaware of the types and extent of expenses incurred toward cancer treatment. While choosing suitable insurance for cancer patients, here are the crucial things that you should consider:
When purchasing a health insurance policy, insurers typically ask for certain documents to verify your identity, age, address, and medical history. Below is a detailed list of the documents required:
To confirm your identity, any one of the following documents is required:
To establish your residence, you may submit any one of the following:
To confirm your age, any one of the following documents is required:
For policies with higher sums insured or for certain premium payment modes, income proof may be required:
If buying a family health insurance plan, you may need to provide relationship proof for the dependents (spouse, children, or parents):
Pune, Mumbai, Ahmedabad, India
Copyright 2024, theFinBank All Rights Reserved.