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Best Cancer Care Insurance Plans in India in 2022

Best Cancer Care Insurance Plans - Top Cancer care plans in India

Health insurance plans provide medical coverage in case of hospitalization. Cancer care insurance plans on the other hand, provides financial assistance in case of diagnosis of cancer disease. It provides financial assistance at various stages i.e. Early stage, major stage and advanced stage. In case you have family medical history, you should opt for cancer care insurance plans. What is Cancer Care Insurance Plan and how does it work? Which are the Best Cancer Care Insurance Plans in India in 2022?

What is a Cancer Care Insurance Plan?

Cancer care is a special insurance plan which provides financial instance, in case of diagnosis of cancer disease. In case you have any of the top health insurance plans, medical expenses are covered in case of hospitalization. However, in case of cancer care plans, there is no need for hospitalization. Once it is detected, sum assured benefit would be paid which can be used for hospitalization, chemotherapy, surgery or radiation etc.,

How does it work?

Let us explain with an example

Mrs. Laxmi has taken cancer care health insurance from an Insurance company for Rs 10 Lacs in 2010.  She was diagnosed with cancer in 2022. Based on the documentation provided by Mrs. Laxmi, the insurance company has paid the sum assured of Rs 10 Lacs to her.  Mr. Laxmi would use this for hospitalization expenses, chemotherapy, surgery or radiation etc.,

Types of Cancer covered in cancer care health insurance plans

One should understand various types of cancers that are covered in these health plans before buying them. These plans are covered for below cancer types:

Breast cancer

Lung cancer

Ovarian cancer

Stomach cancer

Prostate cancer

Hypo larynx cancer

What are various benefits of Cancer Insurance Plans?

Let us understand the key benefits in these plans.

These plans cover for multiple stage of cancer. It could be early stage, major stage or advanced stage, such plans cover at all these stages.

Lump sum is paid on diagnosis of cancer. This lump sum is equal to sum assured or percentage of the sum assured depending on the insurance plan.

In case of diagnosis of early stage cancer, premium waiver is available.

Some of the plans offer an increase of sum insured in case of no claim in any year.

Some of the cancer care plans offer monthly income in case of diagnosis of advanced cancer.

In case of first diagnosis of cancer, the insurance policy would continue as long premiums are paid.

What are the exclusions in Cancer Car Insurance?

Here are some exclusions in such plans.

Skin cancer is not covered in such plans.

Cancer caused directly or indirectly or contributed by sexually transmitted diseases like HIV or AIDS.

Cancer resulting due to biological war, nuclear or chemical contamination, contact with radiation etc.,

Who should take Cancer Car Plans?

These plans are worth taking:

If you have a family history of cancer

Your health insurance does not cover cancer

If you are the only earning member in the family

If you think the environment where you are living or working is prone to get cancer

Best Cancer Care Insurance Plans in India in 2022

Here are the list Cancer Care Insurance Plans you can opt.

#1 – HDFC Life Cancer Care

#2 – Max Life Cancer Insurance Plan

#3 – LIC Cancer Cover

#4 – ICICI Pru Heart / Cancer Protect Plan

Best Cancer Care Plans for 2022 – Plan wise details

Here are the plan wise details.

#1 – HDFC Life Cancer Care

This is a non linked, non participating protection plan that covers early stage and major stage of cancer.

  • There are 3 options available i.e. Silver option, gold option and platinum option.
  • One can get a lump sum payout in case of diagnosis of major or early stage of cancer.
    Any individual in the age group of 5 years to 65 years is eligible to take this plan.
  • Policy term is 5 years to 85 years.
  • Sum insured can be taken for Rs 10 Lacs to Rs 50 Lacs
  • 180 days waiting period applies from the date of commencement of policy.
  • 7 days survival period between the date of diagnosis and the date of eligibility for the benefit payment is applicable.
  • Future 3 Years premiums would be waived off in case of diagnosis of cancer.
  • One can receive income benefit for 5 years in platinum option

#2 – Max Life Cancer Insurance Plan

This is a non-linked, non-participating protection plan that covers early stage and major stage of cancer.

  • A lump sum of 20% of the sum insured is paid to the diagnosis of early stage cancer after the first 12 months and all future premiums are waived.
  • A lump sum of 100% of the sum insured is paid for the diagnosis of major stage cancer (after reducing payments done for early stage cancer) after the first 12 months and all future premiums are waived. Also, 10% of the basic sum insured would be paid up to 5 years.
  • Any individual in the age group of 25 years to 65 years is eligible to take this plan.
  • Policy term is 10 years to 40 years.
  • Sum insured can be taken for Rs 10 Lacs to Rs 50 Lacs
  • 180 days waiting period applies from the date of commencement of policy.
  • 7 days survival period between the date of diagnosis and the date of eligibility for the benefit payment is applicable.

#3 – LIC Cancer Cover

This is a non-linked, non-participating protection plan that covers all stages of cancer.

  • This plan is available in 2 options i.e., Level-1 Sum Insured and Increasing sum insured. Under level-1 sum insured, the basic sum insured would not change throughout the policy term. Under increasing sum insured, the basic sum insured would increase 10% every year for first 5 years.
  • In case of diagnosis of early stage cancer, 25% of the sum insured would be paid and premiums are waived off for next 3 years.
  • In case of diagnosis of major stage cancer, 100% of the sum insured would be paid and 1% of the basic sum insured would be paid every month for the next 10 years irrespective of the policy term.
  • Any individual in the age group of 20 years to 65 years is eligible to take this plan.
  • Policy term is 10 years to 30 years.
  • Sum insured can be taken for Rs 10 Lacs to Rs 50 Lacs
  • 180 days waiting period applies from the date of commencement of policy.
  • 7 days survival period between the date of diagnosis and the date of eligibility for the benefit payment is applicable.

You may like: Best Health Insurance Plans for 2022

#4 – ICICI Pru Heart / Cancer Protect Plan

This is a non-linked, non-participating protection plan that covers all stages of cancer and heart diseases.

  • In case of diagnosis of minor condition, 25% of the sum assured would be paid and in case of major condition, 100% of the sum assured would be paid minus any payments done for minor conditions.
  • On diagnosis of any listed minor condition or in case you suffer for permanent disability due to an accident, all future premiums are waived off and the policy continues.
  • Any individual in the age group of 18 years to 65 years is eligible to take this plan.
  • Policy term is 5 years to 40 years.
  • Sum insured can be taken for Rs 2 Lacs to Rs 50 Lacs for cancer cover and up to 25 less for heart cover.
  • 180 days waiting period applies from the date of commencement of policy.
  • 7 day survival period between the date of diagnosis and the date of eligibility for the benefit payment is applicable for heart cover. For cancer cover, there is no survival period.
Suresh KP

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