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  • Cancer Insurance

    What is Cancer Insurance?

    Cancer Insurance
    Cancer Insurance

    Cancer insurance is a kind of health insurance that has been created to ensure that all the risks linked with cancer are managed as best as they can be. Cancer insurance helps in reducing the costs incurred by individuals on cancer treatment, thereby ensuring that policyholders have the financial support when they most need it.

    Cancer insurance has grown in popularity in recent years as it is known to lower stress on the finances of those who have been diagnosed with the condition. Since cancer can strike anybody regardless of lifestyle and family history, it is advised that you purchase cancer insurance so that your finances are not totally depleted on the occurrence of cancer. A number of leading life insurance providers in India have started offering cancer insurance to protect their customers. In this article, we will look at the benefits of cancer insurance and everything else you need to know about the same.

    Why should people buy Cancer Insurance?

    While there are many benefits to purchasing cancer insurance, the scheme comes in handy in case you are diagnosed with cancer. Considering the increasing medical costs in this day and age, a cancer insurance will ensure that you receive the financial support to pay your bills and receive quality treatment to beat the condition. A cancer insurance policy provides cover for several different costs related to the diagnosis as well as treatment of cancer, such as chemotherapy, surgery, hospitalisation, radiation, etc.

    Individuals who wish to purchase cancer insurance will have to ensure that they are not already suffering from cancer as cancer insurance policies do not cover already existing conditions. But purchasing a cancer insurance plan will ensure that there is no domino effect on the individual or his family and help them remain strong emotionally, physically and financially. It is essential to consider the purchase of cancer insurance if your family has a history of cancer, or if you do not have sufficient savings to meet medical expenses, or you are the sole earning member of the family, or if your basic health insurance policy does not offer comprehensive coverage for cancer, or if you have a fear of developing cancer owing to environmental or other reasons.

    Types of Cancer Covered by Cancer Insurance Plans:

    Following are the different kinds of cancer covered by cancer insurance plan:

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

    Best Cancer Insurance Policies in India for 2018:

    The risk of cancer has greatly increased in the recent past due to several environmental and lifestyle factors. In addition to being a serious physical ailment that requires extensive care, cancer is also an expensive disease to treat. With healthcare costs on the rise, being diagnosed with a critical illness like cancer can drain one’s hard-earned savings and can even leave an individual in debt.

    Thus, purchasing a cancer insurance policy as a precautionary measure is a smart decision since a cancer insurance policy can provide financial protection to the policyholder, in case he/she is diagnosed with cancer at any point of time. If you are considering purchasing a cancer insurance plan for yourself or your family members, here are the best cancer plans offered by insurance companies in India with the highest claim settlement ratio for FY16-17.

    Following are some of the best cancer insurance plans you can avail in India:

    Plan Name Entry Age Sum Assured Policy Term
    ICICI Cancer Care Plus 20 years to 60 years Rs.5 lakhs to Rs.25 lakhs 10 years
    HDFC Life Cancer Care Plan 18 years to 65 years Rs.10 lakhs to Rs.40 lakhs 10 years to 20 years
    Aegon Life iCancer Insurance Plan 18 years to 65 years Rs.10 lakhs to Rs.50 lakhs Minimum of 5 years; maximum up to the policyholder turns 70 years of age.
    PNB MetLife Mera Heart and Cancer Plan 18 years to 65 years Rs.10 lakhs to Rs.80 lakhs 10 years / 15 years / 20 years
    Birla Sun Life Cancer Shield Plan 18 years to 65 years Rs.10 lakhs to Rs.50 lakhs 5 years to 20 years
    1. LIC’s Cancer Cover

    2. LIC’s Cancer Cover is a non-participating, non-linked, insurance policy that provides financial protection to the policyholder in case he/she is diagnosed with cancer during the policy tenure. This policy provides coverage against all stages of cancer and comes with two plan options.

      Key Features and Benefits of LIC’s Cancer Cover:

      • This policy can be purchased through online and offline channels.
      • At the time of purchasing the policy, the policy buyer can choose the ‘Level Sum Insured’ option or the ‘Increasing Sum Insured’ plan option.
      • This policy comes with an inbuilt premium waiver benefit for both Early Stage and Major Stage Cancer.
      • In case one is diagnosed with Early Stage Cancer, 25% of the sum insured will be offered as a lump sum payout. In case of Major Stage Cancer, the policyholder will receive 100% of the sum insured at diagnosis and an income benefit for the following 10 years.
      • The general waiting period for this policy is 180 days. The survival period is 7 days.
      • This policy can be purchased by individuals between 20 and 65 years for a policy tenure between 10 and 30 years.
      • The minimum and maximum sum insured for this plan are Rs.10 lakh and Rs.50 lakh, respectively.
    3. Max Life Cancer Insurance Plan

    4. The Cancer Insurance Plan from Max Life Insurance is non-participating, non-linked insurance policy that covers up to 20 types of cancers and provides coverage for all stages of the disease.

      Key Features and Benefits of Max Life Cancer Insurance Plan:

      • This policy provides coverage against Carcinoma in Situ (CIS), Early Stage Cancer, and Major Stage Cancer.
      • The sum insured automatically increases by 10% each year until no claim is made.
      • Policyholders can also receive tax benefits as per the prevailing tax laws.
      • In order to purchase this policy, the policy buyer needs to be 25 years or over. The maximum age at entry is 65 years.
      • This policy can be purchased for any duration between 10 years and 40 years.
      • In order to purchase this policy, the policy buyer will need to choose a minimum sum insured of Rs.10 lakh. The maximum sum insured that can be chosen is Rs.50 lakh.
      • The waiting period for this policy is 180 days, whereas the survival period required is 7 days.
    5. SBI Life Sampoorn Cancer Suraksha Plan

    6. This cancer insurance policy offered by SBI LIfe provides a comprehensive protection against all stages of cancer. This plan comes with three benefit options and a stage-wise benefit payout is offered to the policyholder.

      Key Features and Benefits of the SBI Life Sampoorn Cancer Suraksha Plan:

      • Up to 150% of the sum assured can be paid to the policyholder upon diagnosis of the disease, based on the benefit structure that is opted for.
      • The Enhanced Benefit structure comes with an inbuilt Sum Assured Reset feature.
      • No medical examination is required to purchase this policy.
      • Tax benefits can be availed under Section 80D of the Income Tax Act, 1961, by the policyholder, for premiums paid.
      • Policyholders can avail a free medical second opinion.
      • This policy comes with an inbuilt Premium Waiver feature, based on the benefit structure chosen by the policy buyer.
      • This policy can be purchased for a child or an adult. The minimum age at entry is 6 years for children and 18 years for an adult.
      • The minimum and maximum policy tenure options are 5 years and 30 years, respectively.
    7. ICICI Pru Heart/Cancer Protect Plan

    8. The Heart/Cancer Protect Plan from ICICI Prudential provides an insurance cover against cancer, heart diseases, or both by way of a joint cover. This policy offers a high sum assured at a low premium rate to the policy buyer.

      Key Features of ICICI Cancer Care Plus Plan

      • The policyholder can pay a nominal premium rate and avail the cover for a high sum assured.
      • The policy will provide a lump sum payout on the first diagnosis of the disease, regardless of how much one will actually spend on the treatment.
      • Policy buyers can either purchase an individual plan or a family floater plan. The insurer offers a discount to policy buyers who opt for family floater plans.
      • Post diagnosis of the disease, future premiums will be waived off and the policy will continue to remain in force.
      • The cover will automatically increase by 10% every policy year.
      • The policy provides an additional monthly benefit amounting to 1% of the sum assured for a period of five years, in case one is diagnosed with an illness.
      • No co-pay charges are applicable on this plan.
      • Policyholders can claim up to Rs.25,000 as tax benefits under Section 80D of the Income Tax Act, 1961, for premiums paid towards this policy.
      Benefits of Cancer Insurance
      Benefits of Cancer Insurance
    9. HDFC Life Cancer Care Plan

    10. The Cancer Care Plan from HDFC Life Insurance offers policyholders a lump sum benefit upon diagnosis of cancer, regardless of the stage. The policy comes with three plan options – Silver, Gold, and Platinum, making it easy for a policy buyer to avail coverage as per his/her needs.

      Key Features of HDFC Life Cancer Care Plan

      • All three plan options offer slightly varying coverage.
      • Any policy buyer between the ages of 18 years and 65 years can purchase this policy.
      • The maximum age at maturity under this plan is 75 years.
      • Policy buyers can opt for a policy tenure between 10 and 20 years.
      • Premiums can be paid on an annual, bi-annual, quarterly, or monthly basis.
      • The minimum sum assured for this plan is Rs.10 lakh, while the maximum sum assured is restricted to Rs.40 lakh.
      • One must survive for a period of 7 days after diagnosis of the disease in order to receive the benefit.
      • In case one is diagnosed with Early Stage Cancer, all future premiums will be waived off. The policy, however, will continue to remain in force and all policy benefits will be payable as per schedule.
      • Policyholders can avail tax benefits under Section 80D of the Income Tax Act, 1961.
    11. Aegon Life iCancer Insurance Plan

    12. The iCancer from Aegon Life is a non-participating, non-linked, online insurance plan that was designed to provide policyholders financial support for treatment of cancer, by way of a stage-based benefit payment schedule.

      Key Features of Aegon Life iCancer Insurance Plan

      • The policy provides a cover against all types of cancer except skin cancer.
      • Premiums can be paid on a yearly basis or a monthly basis.
      • The policyholder can claim benefits for multiple unrelated cancers.
      • Insurer offers Waiver of Premium benefit, wherein if the policyholder is diagnosed with cancer, all future premiums will be waived off.
      • Anybody between the ages of 18 years and 65 years can purchase this plan.
      • The maturity age for this plan is 70 years.
      • Policy buyers can opt for any policy tenure between 5 years and 70 years.
      • The minimum and maximum sum assured under this plan are Rs.10 lakh and Rs.50 lakh, respectively.
      • The policy can be purchased online in a hassle-free manner with minimum documentation.
      • No death benefit, surrender benefit, or maturity benefit is payable under this plan.
      • Policy buyers can claim tax benefits under Section 80D of the Income Tax Act, 1961.
    13. PNB MetLife Mera Heart and Cancer Plan

    14. The Mera Heart and Cancer Plan from PNB MetLife is a non-participating, non-linked, health insurance policy that provides comprehensive coverage against heart diseases and all stages of cancer.

      Key Features of PNB MetLife Mera Heart and Cancer Plan

      • The policy buyer can choose to purchase the policy to provide a cover against cancer, heart diseases, or both diseases.
      • The plan guarantees lump sum payouts upon the diagnosis of a heart disease or cancer, irrespective of the stage of the illness.
      • The policy also comes with an in-built life cover and cover against terminal illness.
      • If the policyholder is diagnosed with mild or moderate cancer, premiums for the next 5 policy years will be waived off.
      • The minimum and maximum sum insured for the cancer cover are Rs.5 lakh and Rs.40 lakh, respectively.
      • Any individual between the ages of 18 years and 65 years can purchase plan. The maximum maturity age under this plan is 75 years.
      • One can choose a policy tenure of 10 years, 15 years, or 20 years.
      • Premiums can be paid on a yearly, half-yearly, or monthly mode of payment.
      • Upon opting for the ‘Return of Balance Premium’ option, one will receive the total premiums paid during the policy tenure as the maturity benefit, at the completion of the policy tenure.
    15. Aditya Birla Sun Life Insurance Cancer Shield Plan

    16. The Cancer Shield Plan from Aditya Birla Sun Life Insurance is a non-participating, traditional health insurance that offers coverage against all stages of cancer.

      Key Features of Aditya Birla Sun Life Insurance Cancer Shield Plan

      • Policy buyers are provided the option to choose either an increasing cover or a level cover.
      • If the policyholder is diagnosed with Early Stage Cancer, premiums for the following 5 years will be waived off.
      • Prospective policy buyers have to be between the ages of 18 and 65 years in order to purchase the plan. The maturity age for this plan is 75 years.
      • The minimum policy tenure that a policy buyer can opt for is 5 years, while the maximum policy tenure that can be opted for is 20 years.
      • Premiums can be paid on an annual, semi-annual, quarterly, or monthly basis.
      • The minimum and maximum sum assured under this plan are Rs.10 lakh and Rs.50 lakh, respectively.
      • In addition to the policy benefits, one can avail tax rebates for premiums paid under Section 80D of the Income Tax Act, 1961.

    With increasing incidence of cancer cases in the country and the rising medical costs, a cancer insurance plan is a must-have. However, before you purchase a policy, make sure to compare plans offered by various insurance providers, check the benefits and payouts, read through the policy terms and condition, and compare premium quotes. Ideally, you should always opt for a policy that offers you the best coverage at a competitive premium rate.

    Features and Benefits of Cancer Insurance Plans:

    Following are some of the features and benefits of cancer insurance plans:

    • Cancer insurance policies offer cover for multiple stages of cancer.
    • In case the life assured is diagnosed with cancer during the policy term, a lump sum amount will be paid out.
    • In case a life assured is diagnosed at an early stage, he/she can avail a waiver of premium under certain conditions.
    • In case the policyholder does not make any claims during the whole year, the sum assured will increase by a pre-determined percentage.
    • Policies that have been insured for more than a certain amount can avail premium discounts.
    • In case a policyholder is diagnosed with cancer in the later stages, he/she will receive monthly income for a certain time period subject to specific conditions.
    • Insurance cover will continue even after the first diagnosis.
    • Customers who purchase a cancer insurance plan can avail tax benefits under Section 80D of the Income Tax Act.


    • To be noted on Cancer Care Insurance

      Cancer covers: Your Best Protection Against the Financial Impact of Cancer

      Cancer is one of the worst diseases one can encounter in their lifetime. The number of cancer cases across the country is increasing every year. One of the serious impacts of cancer is the expenses associated with the treatment process. With this significant rise, cancer covers could provide you with the much needed financial security in case of the occurrence of the disease.

      A cancer cover pays a fixed lump sum amount following the diagnosis of cancer. The percentage of sum insured amount provided to the policyholder may depend on the stage of cancer. The fixed sum insured amount is provided without the need for any medical bills or treatment reports.

      One of the advantages of a cancer-specific health insurance plan is that the premium costs are not very expensive. With the right insurance cover, you can take advantage of the income benefit, waiver of premium benefit, cumulative benefit, etc.

    Difference between Cancer Insurance and Critical Illness Rider Plans:

    A comprehensive cancer insurance is completely different from a critical illness rider that can be added to a base plan to gain additional protection. While a critical illness rider will offer financial support in paying for expensive treatments for a variety of critical conditions such as stroke, paralysis, multiple sclerosis, organ transplant, cardiac arrest, deafness, total blindness, etc. A number of life-threatening cancers are also covered by many critical illness riders. In most cases, the average critical illness rider will pay out a lump sum in case the life assured has been diagnosed with any of the critical conditions covered by the rider. The payouts offered by the rider can be used for co-pays, treatments, therapies and related medical expenses.

    Critical illness riders are less expensive in comparison with comprehensive medical insurance policies as protection is offered only for a few critical conditions. Critical illness riders can be bought as individual plans or riders that can be attached to existing health or life insurance policies. One of the prominent drawbacks of critical illness riders, however, is that they usually cover cancer during the advanced stage in the sense that they cover cancer only in case a malignant tumour displays uncontrolled growth and invasion of regular tissues. Moreover, critical illness plans do not offer a waiver of future premiums whilst revoking all the other benefits you would otherwise receive from a comprehensive health insurance plan. In case any of the illnesses covered by the critical illness rider have been detected in the policyholder, the plan cover shall cease.

    Cancer insurance plans, on the other hand, offer comprehensive coverage for each stage of cancer, thereby ensuring that the policyholder can continue to receive financial protection and save a lot of money that would otherwise be spent on treatments and therapies.

    Exclusions in a Cancer Insurance Plan:

    Following are the exclusions in a cancer insurance plan:

    • All kinds of skin cancer.
    • Cancer as a result of any pre-existing or congenital condition; chemical, biological or nuclear contamination; radioactivity from any therapeutic or non-diagnostic source or contact with radiation.
    • Any type of cancer caused as a direct or indirect result of sexually transmitted diseases, AIDS or HIV.
    • Leukemias.
    • Papillary micro-carcinoma of the thyroid.

    How do I make a claim for Cancer Insurance?

    While the claim settlement process varies from insurer to insurer, the general procedure that one will have to follow when it comes to making a claim is as follows:

    • Claim Intimation: Before you file your actual claim, you will first have to intimate the insurer of the upcoming claim. In order to intimate the insurer, you will have to reach out to the insurance firm on any one of their official customer care channels. You can find the insurer’s customer care channels on their official website or the policy brochure. Post intimating the insurer of the claim, you will also have to submit all supporting medical documents to the insurance firm. Insurance firms usually specify timelines within which time they will have to be informed of the upcoming claim.
    • Claim Processing: Once the insurer has received all your documents, an assessor will scrutinise the same and evaluate the validity of your claim and whether it falls within the purview of your insurance policy. At this time, if any more documents are required, the insurer will communicate the same to the policyholder by letter/email/SMS.
    • Claim Settlement: After evaluation of all the relevant supporting documents, the insurer will communicate their decision regarding the claim to the policyholder. The insurer can either approve the claim and settle the claim amount, ask for further documents, or reject the claim and communicate the reason to the concerned person. Most insurance firms generally settle the claim amounts via NEFT or ECS.

    Things to consider before buying a Cancer Insurance Plan:

    The main point to consider before purchasing a cancer insurance plan is the risk factor stemming from the health history of your family. In case your family has a history of caner, it makes sense to purchase cancer insurance. Given the increase in pollution and other environmental hazards, the number of individuals who are diagnosed with cancer is constantly on the rise. If you are concerned that you may also contract the condition, it is better to be safe by purchasing a cancer insurance plan.

    Individuals who purchase a cancer insurance policy will have to be informed that having two policies will not offer double coverage. A cancer insurance plan in addition to a comprehensive health insurance plan will not mean double the benefits. Since most insurance plans have a clause for the coordination of benefits, once your expenses have been covered by one plan, the other plan will not cover the same.

    Cancer Insurance Policy - All You Need to Know

    According to a report, as many as 10 lakh people are diagnosed with cancer each year and over 60% to 70% of those, I.e., 6 to 7 lakh people succumb to the disease. Also, cancer treatments are often extremely expensive and more often than not, the patients only prolong their lives for a few more years before the condition relapses and with it some more complications. Of late, nearly every comprehensive health insurance policy comes with coverage against all sorts of cancer to reduce the level of financial constraints on the patients, however, it is only a stop-gap solution of sorts. Keeping this in mind, life insurance companies have come up with specific plans to come to the aid of cancer patients.

    In this section we will tell you a few basic things about what a cancer insurance policy is all about and some of the aspects relating to it.

    • It’s not the same as comprehensive health insurance plans: As mentioned above, a Cancer Insurance Policy is not the same as a comprehensive policy because the coverage offered by these two are entirely different. For starters, a cancer insurance policy is available for cancer patients and it covers all sorts of cancer. On the other hand, a comprehensive policy offers generic coverage against a list of illnesses.
    • Offers coverage for all stages of the disease: These policies cover you for all stages of the disease and will pay a lump sum amount when a person is diagnosed with the illness. Further, the policyholder can choose to receive payouts in two different ways: lump sum cover or lump sum cover with monthly income. Also, if the cancer is benign at the time of diagnosis, some plans waive off premiums for a period of time while still keeping the coverage intact.
    • Can offer robust coverage when compared to critical illness plans: While critical illness plans offer coverage against a host of illnesses, a cancer-specific plan offers much better coverage and covers hospitalisation as well as the initial stages of recovery. Besides, it allows policyholders to choose a payout that is beneficial to them. Critical illness plans, on the other hand, don’t offer this benefit.
    • Should be bought before the age of 60: As you may already know, insurance is a game of odds which is stacked against the older people. This is the reason why it costs more for them to get coverage. So, if you decide to take a cancer-specific plan, make sure to do so before you hit the age of 60, so as to reduce the premium amount. With the number of cancer patients rising each year, a cancer-specific plan is worth your consideration, especially if you are a smoker or have other such vices. So, consider looking into such a plan to keep yourself relatively safe if disaster strikes. And as they say, it’s always better to be safe than sorry. It’s your time now!

    Cancer Insurance FAQs:

    1. Can I make changes to the terms and conditions of the policy if the policy term has commenced?

      A. Changes in all terms and conditions will not be allowed once coverage starts, but customers have the freedom to increase the sum assured at any time.

    2. Will it be difficult to avail cancer insurance in case my family has a history with cancer?

      A. No. Proposal forms will be accepted from a customer even if he/she has a family history of cancer. However, such customers will have to furnish a detailed description of their cancer history.

    3. What are the eligibility criteria for availing a cancer insurance plan in India?

      A. Customers who wish to avail a cancer insurance plan will have to meet the age criteria which usually require them to be between 18 and 65 years of age. Customers will also have to make premium payments towards their plan and select a sum assured before availing the policy.

    4. What is the minimum and maximum sum assured for cancer insurance plans?

      A. While some companies allow customers to select a sum assured worth Rs.5 lakhs at least, the minimum sum assured for some companies is higher. In the same way, the maximum amount of cover you can avail from a cancer insurance plan will also change from company to company.

    5. How are the benefits paid out in case I am diagnosed with cancer?

      A. Different plans have different payout structures. While some plans will provide the customer with the entire sum assured upon diagnosis, some plans offer a certain percentage of the sum assured as a lump sum and continue to pay out the remainder over regular intervals of time.

    6. Do cancer-specific policies cover all stages of cancer or do they only provide a benefit in case of being diagnosed with major stage cancer?

      Most cancer care policies in the market cover major and minor stage cancer. Thus, no matter what stage of cancer the policyholder is diagnosed with, he/she will get the corresponding benefit.

    7. What other benefits are covered by cancer insurance policies?

      The benefits provided by various insurance policies will differ based on the policy’s coverage limits, inclusions, and exclusions. For more information on the same, make sure to go through the policy document or brochure.

    8. In case of the cancer patient’s death, will the insurer provide a payout to his/her nominee?

      Most cancer insurance plans do not provide a death benefit, thus no benefit will be paid to the nominee in case of the policyholder’s death. However, if the death benefit is part of the benefits offered under the policy, the nominee will be entitled to receive a payout in the event of the policyholder’s death.

    9. Do cancer care policies cover pre-existing illnesses?

      In most cases, pre-existing diseases are not covered by cancer insurance policies. You will find the whole list of exclusions in the policy brochure.

    10. Is there a waiting period under cancer insurance plans?

      Most cancer insurance policies that are offered come with a 180-day waiting period. Thus, if the policyholder is diagnosed with cancer during the waiting period, no benefit will be paid.

    11. What is meant by ‘Survival Period’?

      To be eligible to receive the payout offered by the insurer, the policyholder has to survive for at least a period of 7 days, post diagnosis of the disease. This 7-day period is known as the survival period.

    12. Do cancer policies provide tax exemptions?

      Yes, you can claim tax benefits for premiums paid under Section 80D of the Income Tax Act, 1961.

    13. I already have a health insurance cover, do I still need to purchase a Cancer-specific insurance policy?

      A health insurance policy offers comprehensive coverage against a range of illnesses and diseases. And while health insurance plans do cover critical illnesses, they usually only cover inpatient hospitalisation, and not the entire treatment costs. Thus, it is advisable to purchase a cancer-specific policy, even if you already have a health cover.

    14. Will premium rates remain constant for the duration of the policy tenure?

      Your premium rates will remain constant for the duration of the policy tenure. At the time of renewing the policy, the insurer may increase your premium based on your current age, lifestyle, sum insured, etc.

    15. Do cancer care policies have a free-look period?

      Yes, cancer insurance plans come with a free-look period. The free-look period is usually either 15 days or 30 days.

    16. Can cigarette smokers apply for cancer insurance plans?

      Yes, you can apply for a cancer insurance plan even if you are a smoker. However, you will have to declare this fact at the time of purchasing the policy. Failure to do so could lead to your claim getting rejected.

    17. Will a policy buyer have to undergo a pre-policy medical screening before purchasing this plan?

      Policy buyers might have to undergo a pre-policy medical test on the basis of their age, sum insured, lifestyle, and other factors.

    18. Will I get a surrender benefit if I surrender this policy before the maturity date?

      Most cancer insurance policies do not have a cash value attached to them. Thus, you will not be paid a surrender benefit even if you surrender your policy.

    19. What documents should a policyholder submit at the time of submitting the claim?

      At the time of making a claim, the policyholder will have to submit the filled and signed claim form, supporting medical documents, bills, and any other reports that are requested by the company.

    20. Are cancer care policies yearly renewable or can they be purchased for longer tenures?

      Insurance providers offer cancer insurance plans with policy tenures between 5 and 40 years. Thus, when you purchase a policy, you can opt for a policy tenure that is best suited to your needs.

    What's next?

      • Life Insurance
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      • Term Insurance
      • Term insurance plans, a popular choice among policy buyers, are an economical way to secure your family financially. For information on the various types of term insurance plans in the market, key features and benefits, claim process, and lots more.

    News About Cancer Insurance

    • Inauguration of the Extension Wing of Mahesh Memorial Paediatric Oncology

      The Extension Wing of the Cancer Institute built by the Mahesh Memorial Trust was inaugurated in a formal event held on Thursday. Among the guests of the event were Prabha Sridevan, former judge of the Madra High Court, A.R. Rahman, music composer, Mani Ratnam, film director, Chitra Mahesh, managing trustee of Mahesh Memorial Trust, and Rahul Ramachandran, former chairman of Madras Round Table 1. The new wing was handed over to Dr. V. Shanta, the chairman of the Cancer Institute. Dr. Shanta said, in the gathering, that almost 65% of the children who are diagnosed with cancer resume normal life after treatment. She stated that many success stories with regard to cancer treatment for children have been witnessed over the past 60 years. She is of the opinion that the cost of treatments are high and that they are developing ways to make it more affordable. She believes that treatments can be made affordable with the help of the government and the community. Also, she shared her concern over insurance coverage for all different types of cancer including pediatric cancer.

      18 June 2018

    • Central Government to bring 12 more states under the national insurance scheme

      Twelve more Indian states are set to implement the Ayushman Bharat National Health Protection Scheme with eight Indian states already under the plan. The MoUs are expected to be signed with these 12 states on June 14.

      The government is currently waiting for the stabilisation of the IT platform, which is considered to be one of the important factors for the successful implementation of the scheme.

      More than 1.5 lakh healthcare centres are expected to be converted into wellness centres by 2022 with 14,000 centres alone expected to be converted into wellness centre this year. These centres cum clinics will play a role in the screening of patients over the age of 30 years and be suffering from diseases such as cancer, tuberculosis, and hypertension etc.

      13 June 2018

    • Tata Trusts commits a sum of Rs.1,200 crore to build and improve cancer treatment facilities in India

      Tata Trusts has committed a sum of Rs.1,200 crore over the course of the next few years to establish new cancer care facilities and improve the infrastructure of existing facilities in the country in an effort to bring world-class treatment and care to individuals seeking treatment in India.

      Tata Trusts is looking to build around 4 cancer care hospitals and also equip secondary-level hospitals and community health centres in the country with facilities that are necessary to carry out chemotherapy, minor surgeries, and radiotherapy.

      7 June 2018

    • Goldman Sachs leads the $31 million round of investment in Cytecare

      Investment Bank, Goldman Sachs is currently leading the Series A round of investment worth $31 million in Cytecare, a group of cancer care hospitals.

      Cytecare aims to set up close to five hospitals in some of the major cities of India with each of them having close to 150 beds. The company has not yet named the players who have invested but it is understood that several doctors have given their thumbs up for the joint venture by individually investing in it.

      The investment will also help the company expand its wings as it plans to grow globally in the oncology sector. Cytecare also aims to build a network of hospitals in India just like it has done in countries like Brazil, China, and Australia.

      4 June 2018

    • Government proposes new package rates for medical treatments under Ayushman Bharat scheme

      The government has proposed new package rates for about 1,350 procedures that comes under the Ayushman Bharat scheme. The rates proposed by the government ranges from Rs.1,000 to Rs.1.5 lakh depending upon the medical procedure required. The package rates provided under the National Health Protection Scheme (NHPS) are about 15% to 20% lower than the standard rates applicable to Central Government Health Scheme (CGHS).

      According to Indu Bhushan, CEO of Ayushman Bharat, a very rigorous process has been used to determine the package rates for these medical procedures. The statement also noted that Niti Aayog prepared and peer reviewed the first draft of the rates applicable to various procedures. Though the rates are pre-determined, they are flexible and subject to further changes by the states.

      The Ayushman Bharat Scheme is a universal health insurance plan proposed by the NDA government for low-income households across the country. It aims to provide coverage for about 50 crore individuals belonging to 10 crore families in India. Under this cover, a family will have access to about Rs.5 lakh cover for medical treatments.

      28 May 2018

    • Punjab refuses to sign MoU for National Health Protection Scheme

      The government of Punjab has refused to implement the National Health Protection Scheme initiated by the Central government to provide a health coverage of Rs.5 lakh per family to the vulnerable section of the society. The Health Minister of Punjab, Brahm Mohindra, said that there is no clarity on many features under the scheme. Also, the ceiling rates of the premium amount payable by the state government have not been specified. The Health Minister is of the opinion that investing in another health insurance scheme when there are successful state-run health schemes will hit the treasury of the government. Mohindra has also stated that the rates fixed for certain treatments are lower than the actual rates which will eventually increase the share payable by the state.

      While the state of Bengal has also refused to implement the scheme, states like Haryana, Himachal Pradesh, Jammu and Kashmir, and Uttarakhand have already signed the MoUs.

      18 May 2018

    • Tata Trusts to introduce and run Cancer Treatment Hospital in Bhubaneswar

      Tata Trusts will be setting-up and managing a state-of-the-art cancer care hospital in Bhubaneswar. The Odisha government recently signed an MoU (memorandum of understanding) with Tata Trusts regarding the same. Thus, the State Government of Odisha will provide a 25-acre land to Tata’s Cancer Care Centre free-of-cost.

      Apart from the apex hospital which will be set-up in Bhubaneswar, the State Government of Odisha has also tied-up with Tata Trusts to launch a comprehensive cancer care programme, under which various medical colleges and district-level hospitals will be equipped to offer better cancer-related treatment to the public.

      9 May 2018

    • Ola partners with Tata Trusts’ ACF to introduce initiative to support cancer treatment in India

      In an effort to support social causes, Ola, a Bengaluru-based cab aggregator, has recently launched an initiative called ‘My Ride, My Cause’ on its online platform to crowdsource funds by leveraging its wide consumer base across the nation. The cab aggregator has launched this initiative in partnership with Tata Trusts’ Alamelu Charitable Foundation (ACF). As part of this newly-launched initiative, users will be given the option to contribute Re.1 per ride. The funds contributed by its users will be used by Ola to lend support to improve cancer treatment across the country.

      8 May 2018

    • New Insurance Scheme launched for retired government employees in Puducherry

      The Health and Family Welfare Department along with New India Assurance launched a new health insurance policy for retired government workers and their families in Puducherry. The scheme, which will last until 21 May 2021, will provide coverage against pre-existing diseases and critical illnesses like cancer, kidney failure, etc. The maximum coverage amount under this scheme will be Rs.3.5 lakh. The scheme will only be applicable to in-patient treatments.

      Mr. V Narayanaswamy, the Chief Minister of Puducherry, launched this scheme recently in the presence of the Speaker, the Health Minister, and other officials from New India Insurance and the Health Department.

      7 May 2018