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Health insurance policies which cover Cancer

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    Health insurance policies which cover Cancer

    Cancer is one the critical illnesses that needs special attention and health care in India. As per the National Cancer registry data there will be about 800,000 new cancer cases in India every year. At any point of time there is likely to be 3 times this load that is about 240,000 cases. Cancer sites associated with tobacco form 35 to 50% of all cancers in men and about 17% cancers in women. Dietary practices, reproductive and sexual practices etc. will account for 20-30% of the cancer cases in India. Cancer can be caused due to many reasons and the myth that cancer results from tobacco only should be re-examined. There are many instances where a completely healthy person without any tobacco consumption, drugs consumption and other narcotic substances consumption developed cancer.

    Keeping in view these figures it is important to understand the necessity of having a cancer protection insurance plan. The cancer protection plan can be taken as a part of life insurance policy or a health insurance policy. In case of health insurance policies, the premium should be paid on an yearly basis whereas in case of life insurance plans the premium can be paid one time or yearly or in other payment formats.

    Below is the list of insurance plans covering cancer in India
    Let us see the list of insurance policies available in India which cover the diabetic related hospitalization.

    Health Insurance Plans which cover Cancer


    Check out the table below with different health insurance plans with Diabetes cover from different health insurers in India


    Cancer Health Insurance Plan

    Sum Insured (Rs.)

    Entry Age Criteria (yrs.)

    Family Size

    Future Generali Cancer Protection Plan1 lakh - 50 lakh6 to 65 yearsN/A
    Care Freedom Health Insurance Policy 10 lakh – 2 crore 5 years to 50 years 6 persons under the policy
    Raheja Cancer Insurance Policy 1 lakh - 10 lakh 1 day to 70 years 6 members
    New India Cancer Guard Polic5 lakh - 50 lakh 3 months to 65 years Spouse, dependent children and other relations.


    Future Generali Cancer Protection Plan



    Eligibility

    The minimum entry age is 18 years and the maximum entry age is 65 years.

    Sum insured

    The minimum sum insured is Rs.3 lakhs and the maximum sum insured is Rs.10 Lakhs

    Emergency Ambulance

    Up to Rs.2000 per policy period for transportation of the insured to the hospital.

    • Policy payment frequency & Policy term- For major lives: 10 years, 15 years, 20 years or 80 years minus age at entry. For minor lives: 18 minus age at entry or 10 years, whichever is higher. Single premium - 5 years.
    • Sum assured- Minimum sum assured is Rs.10 Lakhs and Maximum sum assured is Rs.40 lakhs.
      Premium payment mode: Regular premium payment: Annual and Monthly, Single premium- One time payment.
    • Coverage- The plan covers as soon as the cancer is diagnosed whether it is in Minor or Major stage.
    • Payout flexibility- In case of lump sum payout, fixed payouts on diagnosis or Lumpsum cover with income benefit- Fixed amount on diagnosis and 2% of the sum assured every month for a period of 60 months on diagnosis of major stage of cancer.
    • Loan- No loan is available against this policy.
    • Diagnosis- Minor Stage- Receive 25% of the sum assured instantly and premium waiver till the end of the policy period or the next 3 years whichever is earlier. Major Stage- Receive entire sum assured or Sum assured + A certain percentage payout every month for certain months.
    • Surrender Value- The policy acquires a surrender value immediately after payment of single premium. No surrender benefit shall be payable if the policy is terminated in the last policy year.
    • Policy Lapse- If your due premium remains unpaid at the end of the grace period the policy shall lapse, the cover will cease immediately and no benefit will be provided to you during the lapse period. You can revive the policy within 5 years from the date of the last unpaid premium. The policy will be terminated for no value at the end of revival period.


    Care Freedom Health Insurance Policy



    Eligibility

    Minimum entry age is 18 years and Maximum entry age is

    Sum insured

    The minimum sum insured is Rs.3 lakhs and the maximum sum insured is Rs.10 Lakhs

    Emergency Ambulance

    Up to Rs.1000 per policy hospitalization for transportation of the insured to the hospital.

    • Eligibility- Minimum entry age- 18 years, Maximum entry age- Lifelong
    • Family definition Family means Self, Spouse, dependent children and other relations. Maximum up to 6 persons under the policy.
    • Renewability- The renewability under the policy is lifelong.
    • Policy term- The policy can be taken for a period of 1 year/ 2 years/ 3 years. For policies more than 1 year the unutilized sum insured would not be carried forward to the next policy year.
    • Sum Insured- The minimum sum insured is Rs.2 lakhs and the maximum sum insured is Rs.10 Lakhs Consumable expenses: A specified amount per day for each day of hospitalization for the insured person admitted to a hospital for treatment of an injury or illness, for a maximum period of up to 7 consecutive days per any one illness, as long as it involves medical treatment for a period exceeding 3 consecutive days and had actually merited Hospitalization.
    • Companion Benefit- A lump sum amount will be paid to the insured if the insured is admitted to a hospital for treatment of any one illness or injury arising from the accident during the policy period once the hospitalization exceeds 10 consecutive days.
    • Ambulance Cover- Up to Rs. 1,000 per Claim in excess of Deductible
    • Pre Hospitalization- Not payable under the policy
    • Post hospitalization- 30 days after the hospitalization
    • Domiciliary Hospitalization- Up to 10% of Sum Insured in excess of Deductible per Policy Year
    • Day care procedures- All day care procedures are covered
    • Dialysis Cover- Up to Rs. 1,000 per sitting in excess of Deductible; up to 24 months from date of occurrence of event.
    • Annual Health Check-up- One Health Check-up per Adult per Policy Year
    • Recharge of sum insured- In case of exhaustion of the sum insured, the company will recharge the entire sum insured once in a policy year. This reinstated sum insured can be used for future claims, not related to the Illness/Injury for which the claim has been made during the same year.
    • Annual health checkup- Annual checkup for all the insured persons above 18 years of age is available under the policy. The benefit is available only once during the policy period per member
    • Co-payment- A co-payment of 20% or 30% per claim of final claim amount would be applicable under the policy. The applicable copayment amount will increase by 10% per claim in the policy year if the insured person attains 71 years of age.
    • Deductible- Deductible would apply on an aggregate basis in a policy year.
    • Pre existing waiting period- 24 months
    • Specific disease waiting period- 24 months
    • Initial waiting period- 30 days


    Raheja Cancer Insurance Policy



    Eligibility

    Minimum entry age- 1 day, Maximum entry age- 70 years

    Sum insured

    The minimum sum insured is Rs.1 lakhs and the maximum sum insured is Rs.10 Lakhs

    Pre existing waiting period

    48 months

    • Eligibility- Minimum entry age- 1 day, Maximum entry age- 70 years
    • Renewability- The renewability under the policy is lifelong.
    • Policy term- The policy can be taken for a period of 1 year/ 2 years/ 3 years. For policies more than 1 year the unutilized sum insured would not be carried forward to the next policy year.
    • Sum Insured- The minimum sum insured is Rs.1 lakhs and the maximum sum insured is Rs.10 Lakhs
    • Extra Benefit- If an insured is diagnosed as suffering from Cancer and reports a claim during the period of insurance, he/she can continue to receive benefits under the Policy up to the sum insured limit even after the expiry of the Policy for up to 5 yrs from the inception of the Policy
    • Claim Benefit- In case an insured is diagnosed with Cancer and this requires diagnostic investigation or treatment by a duly qualified medical practitioner or medical practitioner, Raheja QBE pays the insured: 50% of the Sum Insured or Rs. 250,000.00 whichever is less, as a lump sum amount on the acceptance of a claim under the Policy; and reasonable charges for medical expenses actually incurred by the insured in the diagnostic investigation or medical treatment on the medical advice of a medical practitioner of Cancer, in excess of 75% of the benefit amount paid as a lump sum as stated above.
    • Pre existing waiting period- 48 months
    • Specific disease waiting period- 24 months
    • Initial waiting period- 30 days


    New India Cancer Guard Policy



    Eligibility

    Minimum entry age- 3 months, Maximum entry age- 65 years

    Sum insured

    The minimum sum insured is Rs.5 lakhs and the maximum sum insured is Rs.50 Lakhs

    Ambulance Cove

    Up to Rs. 3,000 per hospitalization

    • Eligibility- Minimum entry age- 3 months, Maximum entry age- 65 years
    • Family definition- Family means Self, Spouse, dependent children and other relations.
    • Renewability- The renewability under the policy is lifelong.
    • Policy term- The policy can be taken for a period of 1 year/ 2 years/ 3 years. For policies more than 1 year the unutilized sum insured would not be carried forward to the next policy year.
    • Sum Insured- The minimum sum insured is Rs.5 lakhs and the maximum sum insured is Rs.50 Lakhs
    • Cancer Care Benefit- 50% of the Sum Insured would be paid as Critical Care Benefit in addition to the admissible claim amount, if during the Period of Insurance any Insured Person is first time diagnosed for Cancer and is in Advanced Metastatic Cancer (Stage IV).
    • Reconstruction of Affected Body Part Post Surgery to restore the essential physical functioning as a direct result of Cancer Surgery. Post Treatment Follow Up shall be payable up to Rs. 10,000 once in a Period of Insurance.
    • Cumulative Bonus- Sum Insured under Policy shall be increased by 10% at each renewal in respect of each claim free year of Insurance, subject to maximum of 50% of the Sum Insured.
    • Ambulance Cover- Up to Rs. 3,000 per hospitalization
    • Pre Hospitalization- 30 days before the hospitalization
    • Post hospitalization- 60 days after the hospitalization
    • Day care procedures- 58 day care procedures are covered
    • Pre existing waiting period- 24 months
    • Specific disease waiting period- 24 months
    • Initial waiting period- 30 days
    • Cancer waiting period- The Policy has a waiting period of 90 days. If the Insured contracts or is diagnosed with Cancer during the waiting period, the premiums are returned and policy is canceled. However, this shall not apply in case of renewal.
    • Medical checkup- Pre policy medical checkup not required.