Cancer Insurance Plan and Cover in India

Cancer, one of the most deadly diseases in the world today, is also one of the most expensive to treat. Did you know more than 11 lakh cancer patients are registered annually in India? Every year, cancer cases in India increase. Moreover, the expense of treatment for this deadly condition is increasing in tandem with medical inflation in India. The average cancer treatment cost in India is about ₹ 5 lakh, with a minimum cost of ₹ 90,000 and a maximum cost of ₹ 27.5 lakh. 

With these expenses expected to rise further, most people in India cannot expect cancer treatment without a cancer insurance plan. Several insurance companies in India offer affordable health insurance plans with cancer cover to tackle this problem. 

Cancer insurance plans usually provide coverage for different stages of cancer. Therefore, it is important to understand the cancer stages. 

1. Carcinoma in Situ (CIS): Cancer cells would not have penetrated the surrounding tissues in this stage if you had been affected by cancer for the first time. 
2. Early stage: A malignant tumour can invade and destroy nearby tissues in this stage. 
3. Major stage: The malignant tumour grows uncontrollably and destroys the normal cells.
4. Advanced stage: It is stage IV of cancer in which cancer has spread to other parts of the body.

The changing lifestyle patterns of people have increased the risk of developing cancer. Cancer treatment, which usually goes for a long time, can cost you an arm and a leg without cancer treatment insurance. 

People often wonder if they need an additional cancer insurance plan when they already have another health plan. Even the best health insurance plans cannot offer the coverage that a specialised cancer plan offers. You may consider buying a cancer care insurance plan if:

1. Cancer runs in your family.
2. You have inadequate savings and financial backup.
3. Your regular health insurance plan does not offer sufficient coverage.
4. You are the only earning family member. 

Some of the best health insurance with cancer cover in India include the following:

Aditya Birla Activ Cancer Secure Plan

The Aditya Birla Activ Cancer Secure Plan has been specially designed to cover treatment costs for patients diagnosed with cancer. The features of the plan include:

1. This cancer insurance plan covers all stages of cancer and offers an additional sum insured if an early-stage diagnosis escalates to a major or advanced stage. 
2. The sum insured ranges between ₹5 lakh to ₹ 1crore. 
3. The initial waiting period for the policy is 90 days, and 180 days for the early stage. 
4. As opposed to most critical illness insurance plans, the survival period of this scheme is just seven days instead of 30 days. 
5. The plan also offers optional cover for a second e-opinion and a wellness coach. 
6. The minimum age for entry to the plan is 18 years. 

Max Life Cancer Insurance Plan

Max Life Cancer Insurance Plan is a cancer health insurance with the following features:

1. The plan is designed to protect the policyholder from all stages of cancer. 
2. It offers a guaranteed payout upon diagnosis of cancer. 
3. The sum insured ranges between ₹10 lakh to ₹50 lakh. 
4. The sum insured increases by 10% for the first five claim-free years at no added cost. 
5. The waiting period for the plan is 180 days from the commencement or reinstatement of the policy. 
6. The minimum age for entry to the plan is 25 years. 

Bajaj Allianz Critical Illness Insurance

Bajaj Allianz Health Insurance’s Critical Illness plan protects you and your family against ten dangerous diseases, including cancer, organ transplant, heart attack, kidney failure, etc. The features of the policy include:

1. The plan comes with a lifetime renewability offer. 
2. The sum insured ranges between ₹1 lakh to ₹50 lakh for the age group 6-60 years.  
3. The sum insured ranges between ₹1 lakh to ₹5 lakh for the age group 61-65 years. 
4. You can avail of the payable benefit after a survival time of 30 days. 

HDFC Life Cancer Care

HDFC Life Cancer Care plan is a cancer treatment insurance that offers financial security during different stages of cancer. This cancer insurance plan offers three options (Silver, Gold, and Platinum) to meet the different needs of the customers. Features of HDFC Life Cancer Care include:

1. The plan protects you and your family against early or major stages of cancer. 
2. A lump sum payout is offered on the diagnosis of early and major cancer stages. 
3. The sum insured ranges between ₹10 lakh and ₹50 lakh. 
4. All benefits and payouts under HDFC Life Cancer Care are independent of other health insurance plans. 
5. The plans offer a Waiver of Premium (WoP) for the next three policy years on receiving a valid cancer diagnosis claim. 
6. Under the Platinum plan, the policyholders can receive income benefits for the next five years.  
7. Under the Gold and Platinum Plans, the sum insured increases by 10% annually. This increase continues until the sum insured becomes 200% of the initial sum insured. 
8. The minimum age for entry to the plan is five years. 

ICICI Pru Heart/Cancer Protect Plan

ICICI Pru Heart/Cancer policy provides coverage against specific ailments such as heart diseases and cancer. The features of this health insurance plan with cancer cover include:

1. The policy provides a payout on the first cancer diagnosis, irrespective of what is spent on the treatment. 
2. The policy offers a 5% discount on the combined premium for the first year if the insured extends the cover to include their spouse. 
3. The sum insured increases by 10% annually until the sum insured becomes 200% of the initial sum insured. 
4. The policyholder can claim a tax deduction of upto ₹25,000 for self, spouse, and dependent children for premiums paid under Section 80D of the Income Tax, 1961. 
5. If the policyholder cannot continue work due to a major condition, the policy offers an additional benefit of 1% of the sum insured every month for five years. 
6. The minimum age for entry to the plan is 18 years. 

Star Cancer Care Gold Health Insurance

Star Cancer Care Gold Health Insurance is the first-ever medical insurance for cancer patients. The cancer insurance plan covers people with Stage 1 and Stage 2 cancer. The features of the plan include:

1. It offers a lump sum for metastasis, cancer recurrence, and unrelated second cancer. 
2. The plan covers self, spouse, dependent children, and dependent parents. 
3. Policyholders also get indemnity cover for surgical/interventional therapy and non-surgical/non-interventional therapy, depending on the sum insured. 
4. The sum insured options are ₹3 lakh and ₹5 lakh. 
5. The waiting period for the policy is 30 months. 
6. The minimum age for entry to the plan is five months. 

Care Cancer Mediclaim Plan

Care Health Insurance’s Cancer Mediclaim plan is a comprehensive policy that offers financial assistance for cancer treatment. Features of the Care Cancer Mediclaim Plan include:

1. It offers coverage for radiotherapy, chemotherapy, hospitalisation, second medical opinion, OPD treatment, etc. 
2. The sum insured ranges between ₹10 lakh and ₹2 crore. 
3. The plan does not require a pre-policy medical checkup. 
4. The initial waiting period for the plan is 90 days. 
5. The plan offers lifelong renewability. 
6. Policyholders can also opt for additional covers, such as international second opinion, air ambulance, co-payment, etc. 
7. The minimum age for entry to the plan is five years. 

ManipalCigna Lifestyle Protection - Critical Care Plan

ManipalCigna Critical Care is a global plan offering financial support for critical illnesses, such as cancer of specified severity, myocardial infarction, major organ transplant, etc. The Critical Care plan has two variants - the basic and the enhanced plan. The features of the policy include:

1. The basic plan covers 15 critical illnesses, and the enhanced plan covers 30 critical illnesses. 
2. It offers payment of the complete sum insured on the first diagnosis of covered critical illnesses. 
3. The plan offers additional benefits of a medical second opinion and access to the online wellness program. 
4. The sum insured ranges between ₹1 lakh and ₹25 crore. 
5. The policyholder can get a discount of 10% on the premium by enrolling more than two members in a single policy. 
6. The initial waiting period is 90 Days. 
7. The minimum entry age to the plan is 18 years. 

New India Assurance Cancer Guard Policy

New India Assurance is the largest public sector general insurance company in India. The company’s Cancer Guard Policy covers conventional treatments like Radiotherapy, Chemotherapy, Organ Transplant, and Onco-Surgery. Features of this health insurance with cancer cover in India include:

1. The plan covers major conventional and advanced cancer treatments. 
2. The waiting period for the policy is three months. 
3. The sum insured ranges between ₹ 5 lakh and ₹ 50 lakh. 
4. It offers coverage for in-patient treatment, pre-hospitalisation and post-hospitalisation expenses. 
5. The minimum entry age to the plan is three months. 

Oriental Cancer Protect

The Oriental Insurance Company is an Indian public-sector insurance company. The Oriental Care Protect plan offers indemnity for insured expenses resulting from in-patient, outpatient, or daycare treatment for cancer of a certain severity. Features of Oriental Cancer Protect include:

1. The policy covers all conventional and advanced cancer treatments. 
2. Under this policy, policyholders do not require a pre-medical checkup.
3. It covers both pre and post-hospitalisation expenses. 
4. The sum insured ranges between ₹ 5 lakh and ₹ 50 lakh.
5. The minimum entry age to the plan is 18 years. 

Ayushman Bharat Pradhan Mantri Jan Arogya Yojana Scheme is the biggest Government sponsored healthcare scheme to cater to the needs of the poor. Under the scheme, policyholders can avail of healthcare services with an insurance cover of upto ₹ 5 lakh for each household annually.

Ayushman Bharat Yojana protects these underprivileged families by covering treatment expenses for several diseases, such as cancer. However, the treatment type and duration can vary for different types of cancer. Features of Ayushman Bharat cancer insurance include:

1. The scheme covers a range of cancer treatments, including medical, radiation, and surgical oncology.
2. It is designed extensively for people below the poverty line without internet access.
3. The beneficiaries can avail of cashless healthcare services in any public sector or private network hospital. 
4. The scheme covers pre and post-hospitalisation, non-intensive and ICU charges. 

Cancer insurance plans offer some additional benefits for cancer treatments that a person may not be able to avail of in other health insurance plans. Typical benefits of cancer health insurance plans include:

1. Cancer insurance plans cover multiple cancer stages. 
2. Policyholders receive a lump sum amount on cancer diagnosis. 
3. Waiver of premium is available under certain conditions, such as an early-stage cancer diagnosis. 
4. The sum insured increases by a predetermined percentage if no claims are made during a year. 
5. Cancer health insurance offers high coverage at an affordable premium. 
6. Plans offer tax benefits on paid premiums under section 80D of the Income Tax Act.

The most common exclusions of a cancer insurance plan include the following:

1. Skin cancer
2. Cancer resulting from congenital or pre-existing conditions.
3. Any type of cancer caused directly or indirectly by sexually transmitted diseases (STIs), HIV, or AIDS.
4. Cancer resulting from biological, nuclear, or chemical sources.
5. Cancer caused by intoxication from liquor, drugs, or substances not prescribed by a certified health practitioner.

The above-mentioned are general exclusions, and specific exclusions can vary between different insurance companies. 

One must consider the following factors while choosing the right cancer insurance plan:

1. Multiple stages of cancer: A cancer insurance plan will be most beneficial when it offers coverage for all cancer stages, i.e., CIS, early, major, and advanced stages.
2. High sum assured: The cost of cancer treatment has been increasing for a long time now. To protect yourself from these high costs, it is advised to select a cancer treatment insurance with a high sum assured to get adequate financial relief. 
3. Entry age: Every health insurance policy has an entry age that may vary from one insurance company to another. Therefore, checking your eligibility is important when comparing health insurance with cancer cover.  
4. Waiting and survival periods: It is important to check different policies’ waiting periods and survival periods before choosing a cancer insurance plan. The waiting period is the time the insured has to wait before the policy offers coverage. The survival period is the time the insured has to be alive (after cancer diagnosis) to get the benefits of the policy. 
5. Policy term: You should buy a cancer plan with a high policy term to ensure getting protected financially for longer. 
6. Payout terms and conditions: The payout conditions vary depending on different cancer health insurance plans for early-stage and major-stage cancer diagnoses. You should choose a cancer policy that offers significant benefits for even minor conditions.  
7. Additional policy benefits: Most cancer insurances offer waiver of income benefits and regular income benefits at certain cancer stages. You should check these coverages before buying a cancer insurance plan.     
8. Claim settlement ratio: The ratio indicates how many claims have been settled by the insurance provider out of those received. You should invest in cancer insurance from an insurer with a high CSR. 
9. Solvency ratio: The insurance regulator in India instructs insurance companies to maintain a solvency ratio of 1.50 so that the insurer can pay the policyholder’s claims. Choose an insurance provider with a good solvency ratio. 

With India witnessing a rise in cancer cases yearly, the need for investing in health insurance with cancer coverage has never been greater. A financial burden is the last thing someone wishes for when diagnosed with this deadly disease. The cancer insurance plans offered by several insurance companies in India can offer financial relief during these difficult times. Insurance plans at affordable rates are the best choice to cover your medical needs while focusing on improving your health. 

For any more doubts regarding health insurance with cancer cover in India, contact an expert at HexaHealth TODAY! Our team will help you choose the best cancer health insurance plan as per your needs and guide you through its claim process.