Cancer is one of the most deadly diseases that has killed so many people over the years and across the globe. Even if you look at the number of cancer patients in India, you will find a lot in numbers. The major numbers of cases are found in states like Kerala, Mizoram, Delhi, Haryana, Karnataka, Himachal Pradesh, Goa, Uttarakhand, and Assam.
Apart from all the pain and inconvenience, what becomes bothersome for cancer patients is the money that is required for the treatment. Not everyone can afford cancer treatment; thus, eventually, pass away. This is why if you live in any of the above-mentioned states or you have a family history of this disease, you should buy health insurance at the earliest. You can in fact opt for the cancer-specific health insurance plans so that you can get coverage on expenses such as diagnosis and treatment which will include chemotherapy, surgery, radiation, hospitalization, and many more.
Benefits of cancer health insurance plans
Here are some of the top benefits of buying a cancer health insurance plan.
- Provides coverage for multiple stages of cancer
- Upon diagnosis of cancer, a lump-sum amount is offered
- Under some conditions like the early stage of diagnosis of cancer, the premium waiver is available
- If you do not claim during the year, the sum assured will go higher by a pre-approved percentage
- In case of a major cancer diagnosis, monthly income is offered for a certain number of years
- Over a certain amount, premium discounts are available on policies
- After the first diagnosis, insurance cover is not seized
- You can avail of tax benefits under Section 80D of the Income Tax Act.
Some of the best cancer health insurance plans
You can take a look at the cancer health insurance plans that are mentioned herein below:
LIC Cancer Cover
If you are diagnosed with any stage of cancer during the tenure of the policy, you will get the necessary financial support through this plan. However, you have to make sure of paying the premiums regularly. This plan comes with two benefit options such as Level Sum Insured and Increasing Sum Insured. You can choose one of these two. If the early stage of cancer is diagnosed, you will receive 25% of the applicable sum insured as the lump sum benefit as well as the premium waiver benefit. Or, you can get 100% of the applicable sum insured as a lump sum benefit, 1% income benefit of the applicable sum insured, and last but not the least premium waiver benefit once Major Stage Cancer is diagnosed.
Max Life Cancer Insurance Plan
This plan provides coverage for the expenses incurred during cancer treatment. The plan comes with comprehensive protection against all stages of cancer including early, major, and even critical stages. If you are diagnosed with cancer, you will get an immediate payout, no matter which stage of cancer it is. You will also get the benefit of the sum insured which increases by 10% in the first 5-claim free years. You will not have to pay anything for this.
HDFC Life Cancer Care
In case of the policyholder is getting diagnosed with cancer, he/she will get a lump sum benefit on buying this cancer health insurance cover. You will be able to choose from three plan options like Silver, Gold, and Platinum. You can choose to pay the premium as per your choice of frequency, which can be monthly quarterly, half-yearly, or annually. If early-stage cancer is diagnosed, you will be able to avail of a waiver of premium benefit.
To know more about such health insurance plans, you can visit the website of IIFL. You will not only be able to find several health insurance plans but can also compare the premiums that you have to pay and accordingly choose the one.
