Top 5 Cancer Insurance Plan in India

Top 5 Cancer Insurance Plan in India

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HDFC Life Cancer Care Plan: HDFC Life Cancer Care Plan has three options – Silver, Gold, and Platinum.

  • Silver Option: Under the silver option, in the early stage of cancer or the Carcinoma-in-situ (CIS) stage, 25% of the sum insured is paid while premiums are waived off for 3 policy years. In the major stage, 100% of the sum insured is paid.
  • Gold Option: Under the gold option, it includes all the Silver options benefits. In addition, there is increased benefit, i.e., the sum insured increases by 10% of the initial sum insured each year starting from the first policy anniversary. This will continue till a claim arises or up to 200% of the initial sum insured.
  • Platinum Option: In addition to the Gold version benefits, monthly income equal to 1% of the sum insured is paid for the next five policy years, starting from the diagnosis of major stage cancer. This option also offers premium discounts for Sum Insured above ₹ 10 Lakhs.

ICICI Prudential Cancer Insurance Plan: The policy pays out on the diagnosis of cancer, irrespective of the stage of the disease (early or late). If it is a minor condition, the policy pays out 25% of the cover amount and continues its cover till the policy term. If unfortunately, the disease affects the policyholder again in a major way (any major condition), it pays out the rest 75% to the policyholder and the policy terminates. In case of a major condition, the policy pays out 100% of the cover amount as lump sum upon diagnosis. Minimum age to enter in this policy is 20 years and the maximum is 60 years. Sum assured value range is from ₹ 5 lakh to 25 lakh.

ICICI Prudential Cancer Insurance Plan pays out on diagnosis of the disease. There is no need to show bills to claim. You just need to produce medical records of diagnosis/doctor’s certificate of diagnosis for the claim.

Max Life Cancer Insurance Plan: This insurance plan offers a comprehensive protection plan irrespective of the stage of the disease. 20% of the cover paid upfront is detected in the early stage and all future premiums are waived off. If detected at a major stage, the full cover amount is paid with an additional 10% as income for the next 5 years. The plan offers cover till age 75 years. The plan allows CIS claims payable for cancer of 5 different organs.

In the major stage, there will be a lump sum benefit, i.e., 100% of the indexed sum insured minus CIS/early-stage claim (if it’s already been paid). In addition, there will be an annual income benefit of 10% of the sum insured payable as income for 5 years. This income payment is irrespective of the death or expiry of the policy term.

AEGON Life iCancer Insurance Plan: If cancer detected in the minor stage, the benefit will be 25% of the sum assured and the maximum limit is ₹ 5 lakh per claim. The future premiums will not be waived off at this stage. If cancer detected in the major stage, the plan will pay 100% of the sum insured if no previous claim has been made. If made, that claim amount will be minus. Further, all future premium payments will be waived off for the rest of the policy term. At the critical stage, 150% of the sum insured is paid minus any earlier payouts.

Future Generali Cancer Protect Plan: If cancer is diagnosed in the minor stage, 25% of your cover amount will be pay instantly. In addition to this, your premium will be waived off for the next three years or till the end of the policy term, whichever is earlier. If cancer is diagnosed in the major stage, you will receive your entire cover amount + Income of 2% of the cover amount (Sum Assured) per month for a period of 60 months. Minor Stage Cancer benefit shall be payable once during the entire life of the policy for Cancer of a particular organ. Maximum 4 times Minor Stage Cancer benefit is payable up to a maximum of sum assured, for separate organs, in the entire life of the policy. The policy will terminate once the Sum Assured is exhausted.

The cost of cancer treatment is very high. Not only the patient, but all his family members also suffer a lot, physically, emotionally and financially. We have seen some cases where a family’s saving is wipe out against treatment costs. So it is better to buy a good Cancer Insurance Plan which can protect financially. If someone has a family history then it is advisable to buy a Cancer Insurance Plan for the future.

You can read other related blogs: Home Insurance in India, Travel Insurance in India, Fire Insurance in India, Personal Accident Insurance in India, Life Insurance in India and Car Insurance in India. 

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