All About Cancer Insurance That You Should Know?

Cancer insurance refers to form of a health insurance plan that aims at providing coverage against the expenses associated with the cancer treatment. This plan is designed specifically to help a person to deal with cancer. It provides the required financial assistance which will be a big help when the diagnosed is fighting against cancer. It is always advisable to prepare yourself financially in advance to beat such hard eventualities of life or at least invest in a cancer insurance plan. Cancer care insurance policies are introduced with the clear objective of providing comprehensive cover against cancer. At the time of crises and trauma, the best thing about having a cancer insurance is that it helps patient and members of the family to deal with such critical situation.

Cancer Insurance Plans in India

In India, almost all leading insurance companies are offering cancer insurance policy. Some of the best that you can explore are mentioned below

  • ICICI Proheart and Cancer Protect
  • HDFC Life Cancer Insurance Plan
  • Aegon Life Icancer Insurance Plan
  • Max Bupa Critical Illness Plan that Covers Cancer
  • Max Life Cancer Insurance Plan
  • Bharati AXA Cancer Insurance Plan
  • BSLI Cancer Shield Plan

Types of Cancer Covered by an Insurance Plan

Usually, an effective cancer insurance plan offers the needful financial assistance or payouts on diagnosis of minor and major stages. The lump sum amount that you received from a cancer insurance plan helps you in beating cancer with the required cover and benefits. It would be there to cover the cost of chemotherapy, radiation, hospitalization and surgery among others. Many promising cancer insurance policies provides coverage on almost all stages starting from early to major.

Benefits of buying cancer insurance plan

Cancer insurance policy is designed specifically for cancer so the mian aim of this policy is to offer comprehensive cover.

There are many cancer insurance plans that comes along a waiver of premium benefit for a particular time frame that can be of 3 to 5 years. Even many plans come with the regular income benefit for a fixed period of time up to 5 years to cover daily costs of running a household. It is basically a percentage of the sum assured (say 1 percentage monthly). If you still feel that the amount that you have invested for is not enough to deal with the treatment cost, then also you don’t have to worry as many cancer insurance policies come along with the option of increase in sum assured.

One of the best things of having a cancer insurance policy is that it continues even after the analysis of early stage of the disease.

One of the most attractive benefits of holding a cancer insurance planother than the basic cover is the tax benefits. Your cancer insurance plan will be liable get tax benefits under section 80D of the Income Tax Act.

Why Do You Need a Cancer Insurance Plan?

There is no doubt in saying that cancer is the one of the worst health related issues that is rising day by day. And no one in this world would like to bear such physical and mental pain and will also makes sure that their loved ones should also stay protected. But, just wishing is not the solution, you have to be ready in advance or prepared enough to fight against medical emergencies.

We all are aware of the fact that cancer is a disease that can strike anyone regardless of his/her family history and lifestyle. With the growing number of cancer cases in India, it becomes very important to have a cancer insurance plan.

Things to be Consider before Buying Cancer Insurance Plan

It is always advisable to do some basic research before buying a cancer insurance plan. There are many things associated with the same and checking it at the right time is something that provides peace of mind. Below are some basic points that you should keep in mind while buying a cancer insurance plan.

Sum assured

No one can deny with the fact that the healthcare expenses are rising regularly. On an average, medical expenses rises by 15% every year. Cancer treatment is a time consuming process, so it is advisable to go for a plan with high sum assured.  It will provide enough funds during time of crises.

Payment under a cancer plan

An effective cancer insurance plan offers coverage for all stages. A cancer plan will pay 30% on early stage and remaining 70% on major stage or the entire on major stage that completely depends upon the insurer and insurer.


Cancer has become a threat, and to fight back financially, a cancer insurance policy is a must have thing. So, it is important for you to arm yourself with an effective policy before the disease strikes. Invest today in an effective cancer insurance plan and take benefits of the same in the harsh and crucial times. A cancer insurance is a must have thing if you have any family history related to the same.




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