Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin
Hurry Up!
Save upto ₹75,000 on taxes in 80D. Buy a health insurance now!
View Plans

Health Insurance for Cancer Patients? Why Cancer Insurance Policy!

Updated On Jan 19, 2024

According to India Against Cancer, one woman dies of cervical cancer every 8 minutes in India. 

Did you know that?

Were you aware of the fact that the estimated number of Indians living with cancer is around 2.25 million? Moreover, the total number of deaths due to cancer in 2018 in India was 7,84,821.

The second most common cause of death in India, Cancer is a group of diseases that divides abnormal cells in an uncontrollable manner, thereby leading to deteriorating health. Needless to say, a cancer patient has to go through a lot in order to emerge as a winner in their fight against cancer.

What’s even worse about cancer is that it drains one not only on the physical and mental front but also leaves them helpless in monetary terms. There are ‘n’ a number of cancer patients with families in constant worry of managing finances so that they can ensure smooth flow of treatment.

To ascertain that one doesn’t feel financially unstable at a time like such, it’s best to invest in health insurance for cancer patients.

Insurance for Cancer Patients - The Much-Desired Support

Cancer care, being an expensive affair demands some form of investment, so that the patient saves themselves from watching their hard-earned money or lifelong savings from going down the drain in one go.

The perfect insurance plan for cancer patients is nothing less than a boon. The right health plan helps cancer patients not only prevent themselves from financial stress but also provide them with the hope to recover soon and start living a normal life just like before.

Insurance Option 1: Critical Illness Cover

First and foremost, critical illness insurance is a benefit-based plan that offers lump sum benefits after a critical illness has been diagnosed. Perfect for providing unmatched assistance in paying for costly medical treatments, specifically for critical illnesses, critical illness plan cover comes across as a disadvantage for cancer patients.

Why?

Let’s uncover the same!

Well, when it comes to covering cancer treatment and related expenses, critical illness policies fail in a way. This is because plans like such provide coverage for cancer only at an advanced stage (with a 90-day waiting period). In other words, the plan is of any use only if a malignant tumor showcases uncontrolled growth, along with the destruction of normal tissues at an advanced stage.

That said, let’s shed light on cancer insurance policy and what makes it the ideal alternative.

Insurance Option 2: Cancer Insurance Policy

Different cancer patients have different insurance requirements. A regular health insurance plan or a critical illness cover usually fails at keeping up with the needs of patients. Therefore, a cancer care policy or cancer specialist health plan is specifically designed to fulfill the diverse needs of a cancer patient. However, patients with a pre-existing cancer condition are not covered under a policy like such. Also, those previously diagnosed and treated for cancer for ineligible for insurance.

Cancer insurance is a special policy that provides financial support to those who are diagnosed with cancer after the free look-up period, which is mentioned in the purchased policy’s terms and conditions. What’s best about cancer-specific policy is that it provides the insured with the cover for numerous costs associated with cancer diagnosis & treatment, including hospitalization, radiation, surgery, chemotherapy, and others. Moreover, the money can be paid at different stages of diagnosis, whether minor, major, or critical.

Kinds of Cancer Covered by Cancer Insurance Plans

  • Breast cancer
  • Lung cancer
  • Stomach cancer
  • Ovarian cancer
  • Prostate cancer
  • Hypolarynx cancer

Exclusions In Cancer Insurance

The kind of cancer that comes under exclusion is skin cancer.

In case, the cancer (directly or indirectly) results from or is caused by STDs, AIDS, or HIV, the claims are not payable.

The same is the case if cancer is caused because of pre-existing medical & congenital conditions apart from nuclear, biological, or chemical contamination.

Cancer Insurance Plan - The Working

First and foremost, learn that when it comes to disbursing the cancer benefit, the disease is classified into distinct stages according to its severity. As far as the payout is concerned, it depends on the cancer stage and claims previously admitted under the same policy. When the policyholder gets diagnosed with cancer of a pre-defined severity, a lump sum amount (a particular percentage of the sum assured) is paid at that time.

At last,

The Advantages Of Cancer Insurance Policy

  • Covers various stages of cancer.
  • On diagnosis, a lump sum amount is paid.
  • Availability of premium waiver under conditions such as early cancer diagnosis.
  • The sum increases by a pre-defined percentage, in case no claims are made during the year.
  • Premium discounts are available for policies over a particular amount.
  • The insurance cover does not cease after the first diagnosis.
  • In certain conditions, such as in the case of a major cancer diagnosis, the monthly income is paid out.
  • To conclude, people who fall under the high-risk category should opt for a dedicated cancer-specific insurance product without giving it a second thought.

Also Read:

Cancer Insurance Policy Vs. A Critical Illness Plan: Find Differences

5 Things to Consider Before Buying Cancer Insurance Plans

Investing in a cancer insurance policy over critical illness insurance is the ultimate preference of many. If you too are one among them, take your decision and make sure it is the right one!

All the best!

Health Insurance Coverage Calculator

Who do you want to insured ?

  • Individual
  • Couple
  • Family
  • Parents

Age of eldest insured member ?

Where do you live ?

Metro
Non-Metro
Disclaimer : Actual Coverage might vary basis your location, age and number of members

Best Health Insurance Plans In India

  • Cover 5 L
    Starting at 832/month*
    No room rent limit 100% no claim bonusUnlimited restoration benefits3 years PED waiting period
    View All Features
  • Cover 10 L
    Starting at 739/month*
    No room rent limit Unlimited restoration benefits50% no claim bonus4 Years PED Waiting period
    View All Features
  • Cover 5 L
    Starting at 447/month*
    No room rent limit 33% no claim bonus100% restoration benefits3 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 1,312/month*
    No room rent limit 50% no claim bonus100% restoration benefits3 yrs PED waiting period
    View All Features
  • Cover 5 L
    Starting at 448/month*
    Single Private A/C Room 20% no claim bonus100% restoration benefits1 year PED waiting period
    View All Features
  • Cover 5 L
    Starting at 664/month*
    No room rent limit 20% no claim bonus100% restoration benefits2 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 675/month*
    No room rent limit 50% no claim bonusUnlimited restoration benefits3 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 690/month*
    Single Private A/C Room 100% restoration benefits3 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 546/month*
    Twin sharing room Zero no claim bonus100% restoration benefits2 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 566/month*
    No room rent limit 20% no claim bonus100% restoration benefits3 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 1,770/month*
    Zero no claim bonusNo restoration benefits1 year PED waiting period
    View All Features
  • Cover 40 L
    Starting at 62/month*
  • Cover 2 L
    Starting at 146/month*
  • Cover 5 L
    Starting at 806/month*
    Single Private Room 10% no claim bonus100% restoration benefits2 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 476/month*
    60% no claim bonus150% restoration benefits4 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 526/month*
  • Cover 5 L
    Starting at 855/month*
    25% no claim bonus100% restoration benefits4 years PED waiting period
    View All Features
  • Cover 5 L
    Starting at 448/month*
    Single Private A/C Room 20% no claim bonus100% restoration benefits1 year PED waiting period
    View All Features
  • Cover 5 L
    Starting at 396/month*
    No room rent limit Room rent upto 2% of SI Room rent upto 1% of SI No room rent limit
    View All Features
  • Cover 5 L
    Starting at 738/month*
    No room rent limit 50% no claim bonus100% restoration benefits3 yrs PED waiting period
    View All Features
Note: Premium is shown for 18yr old individual of Delhi
Show More

Health Insurance News

People Also Read

Must BuyMust Buy

Why to Buy Health Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 75,000*
  • Claim support everyday 10AM-7PM
  • 66 Lacs+ happy customers

Latest Health Insurance Articles