Cancer Insurance

Cancer is one of the most deadly conditions that can ever affect a human being. Anyone diagnosed with cancer needs to undergo regular tests and treatment in order to overcome the danger. The treatment procedures like chemotherapy and surgical methods are rather complex and require competent medical experts to handle. Only effective cancer care can help the patient to get out of danger.

Your lifestyle and stress related issues make us prone to many critical diseases sometimes even at an early stage .cancer is one such disease has increasingly treatment is very expensive and can become a huge financial burden on the family causing a big dent in our saving pool.

Cancer care plans can be substitute for the loss of income if you need to take a break from your work because of the illness. Cancer care policy as a back up not only covers the cost of treatment but also makes you financially stable,so that you have enough savings to cover your medical.

  • 1. Comprehensive protection against all stages of Cancer.
  • 2. Payout on diagnosis, regardless of the stage of Cancer.
  • 3. Sum insured increases by 10% for first five claim-free years at no extra cost.
  • 4. Max life insurance offers cancer insurance plan to smoker also.
While one may have a health insurance policy for the general well being of the family members, it is still important to have a specialized cancer care policy. This is so because cancer care is extremely costly; something that a generalized health insurance policy won’t be able to cover. Cancer care may continue for quite some time and the treatment methods involve diagnostic tests, surgery, radiation therapy, chemotherapy, immunotherapy, targeted therapy, hormone therapy, stem cell transplant therapy and precision medicine just to name a few. All of these treatment procedures are costly and maybe needed to be repeated multiple number of times. This is something that can only be handled by a specialized cancer care policy.

When you are looking to get insurance policy for cancer care treatment, it is important to differentiate between a health and cancer care policy and a critical illness policy. Some types of critical illness policies do offer coverage for cancer treatment, but in most cases these policies offer coverage for cancer conditions that have reached a certain level of severity. However, health and cancer care policies can help to resolve the shortcomings of the critical illness policy. For example, the Herceptin drug used for treating cancer can cost as much as Rs 75000 a month. An early stage cancer surgery can cost about Rs 8 lakh. Such costs can only be covered by a health and cancer care policy.

  Cancer Insurance Critical Illness Insurance Health Insurance
Reason to Buy

Covers all expenses of cancer

This is a benefit-based policy.

Can use it to pay for your medical expenses or as a replacement of your monthly income

A critical illness insurance is a benefit-based plan that provides lump sum benefit after a critical illness has been diagnosed

The amount can be used for treatment or recuperation expenses;

A basic indemnity-based plan, which means that the insurer will reimburse hospital expenses or provide cashless treatment

Ideal for covering the rising cost of hospitalization, treatments, diagnosis, medical aid, etc.

What Does It Cover? Max Life offers the Cancer Insurance Plan that provides comprehensive coverage against all stages of cancer (Pre-stage, Early Stage and Major Stage) Covers some of the common critical illnesses mentioned in the policy document. The pay-out is yours to spend Covers actual medical and surgical expenses incurred by the insured. Coverage is restricted to hospital expenses only, with strict sub-limits for room rent, etc.
Who is it for?

Ideal for those individuals who identify the risks and understand the costs associated with cancer.

A cancer insurance policy should be purchased in addition to a basic health insurance policy. Start with a basic health insurance policy and add a specialized cancer insurance policy

Ideal for individuals who have a higher probability of developing a critical illness and can identify the risks and costs associated with such illnesses.

One should ideally start with a basic health insurance policy and then avail an critical illness policy for additional cover

A basic policy that is a must for everyone. With rising overall healthcare costs, a health insurance policy should be given precedence before the other two. However, in case or a critical illness or cancer, a basic health insurance policy might prove to be inadequate. Hence the need to add critical illness and cancer cover
Insurance Term Available for long terms like 20 years Available for long terms like 20 years Needs to be renewed after every 1 or 2 years
The premium of the cancer care policy that you opt for may vary based on the age of the patient and the term of the condition for which the insurance coverage is set. The premium amount may also vary based on the insurance provider that you opt for. This will also help you to plan your finances in an organized manner and deal with the expenses associated with treatment of cancer in your family.