HDFC Life Cancer Care Plan

In today’s fast paced world, health is not given as much priority as it is supposed to receive. Increasing pollution, unhealthy lifestyle, and other factors have resulted in a number of people suffering from various diseases and disorders. One of the most common diseases that individuals are being affected by is cancer. A huge number of individuals are getting diagnosed with this disease and apart from the mental and physical pain that is experienced, financial burdens are also to be expected as treatment costs are quite high. Therefore being financially prepared against cancer is a step that every individual must take as a precaution.

The HDFC Life Cancer Care Plan is a comprehensive plan that provides benefit upon diagnosis of Early Stage or Carcinoma-in-situ and Major Cancer. Policyholders can procure a lump sum payment on diagnosis as well as treatment of the above. In case of diagnosis of Early Stage or Carcinoma-in-situ, an inbuilt waiver of the premium benefit can be availed. If there have been no claims, then Sum Assured will increase by 10% under the Platinum and Gold option. Customers also have the unique option of opting between any of the three available plan options. In case Sum Insured is above Rs.10 lakh, premium discounts are available for the same.

Eligibility - Who is the HDFC Life Cancer Care Plan?

Eligibility criteria for the HDFC Life Cancer Care Plan is based on age and the plan type chosen along with policy term, among others.

Details	Minimum	Maximum
Age of entry (in years)	18 years	65 years
Age of maturity (in years)	28 years	75 years
Survival Period	7 days between date of diagnosis and date of eligibility for payment of benefit.

All ages mentioned are as per last birthday of the individual.

Sum Assured and Premium Range - What you Get and What it Costs?

Amount of Sum Assured and Premium Range will vary based on the type of plan chosen by the individual.

Details	Minimum	Maximum
Policy Term	10 years	20 years
Sum Assured	10 lakhs	40 lakhs
Premium Frequency	Annual/Semi-annual/Quarterly/Monthly

Customers should note that premiums vary based on age, location, plan term and other factors.

Plan Coverage - What the HDFC Life Cancer Care Plan Covers?

The HDFC Life Cancer Care Plan provides customers with three benefit options for them to choose from - Silver, Gold and Platinum plans. Details of each of these plans are provided below -

Silver	Gold	Platinum
Under this option, the benefits mentioned below are payable - Cancer Diagnosis Benefit - Malignant Cancer or Carcinoma-in-situ 25% of the applicable Sum Insured is payable. Early stage cancer, or Major cancer Percentage of applicable Sum Insured is 100 less Early Stage Cancer or Carcinoma-in-situ claims, if any. Waiver on premium benefit On any valid claim of Early Stage Cancer or Carcinoma-in-situ diagnosis, premium will be waived for a period of 3 years of policy. If the outstanding term is below 3 years, premiums for the outstanding term will be waived.	Under this option, customers will receive the following benefits - Cancer Diagnosis Benefit - Malignant Cancer or Carcinoma-in-situ 25% of the applicable Sum Insured is payable. Early stage cancer, or Major cancer Percentage of applicable Sum Insured is 100 less Early Stage Cancer or Carcinoma-in-situ claims, if any. Waiver on premium benefit On any valid claim of Early Stage Cancer or Carcinoma-in-situ diagnosis, premium will be waived for a period of 3 years of policy. If the outstanding term is below 3 years, premiums for the outstanding term will be waived. Additionally, policyholders can also procure the Increased Benefit option wherein the Sum Insured increases by 10% of the initial Sum Insured every year from the first anniversary of the policy. This will go on until (whichever is earlier)- Increased Sum Insured becoming 200% of the Initial Sum Insured, or A claim Once this claim has been made, all future claims will be dependent on the Increased Sum Assured during the time of the first claim and further increases to the Increased Sum Assured will not be permitted.	Under this option, customers will receive the following benefits - Cancer Diagnosis Benefit - Malignant Cancer or Carcinoma-in-situ 25% of the applicable Sum Insured is payable. Early stage cancer, or Major cancer Percentage of applicable Sum Insured is 100 less Early Stage Cancer or Carcinoma-in-situ claims, if any. Waiver on premium benefit On any valid claim of Early Stage Cancer or Carcinoma-in-situ diagnosis, premium will be waived for a period of 3 years of policy. If the outstanding term is below 3 years, premiums for the outstanding term will be waived. Additionally, policyholders can also procure the Increased Benefit option wherein the Sum Insured increases by 10% of the initial Sum Insured every year from the first anniversary of the policy. This will go on until (whichever is earlier)- Increased Sum Insured becoming 200% of the Initial Sum Insured, or A claim Once this claim has been made, all future claims will be dependent on the Increased Sum Assured during the time of the first claim and further increases to the Increased Sum Assured will not be permitted. In addition to the above, policyholders will receive Income Benefit. Under this option, a monthly income that is equivalent to 1% of the applicable Sum Insured will be paid out to the policyholder on diagnosis of the listed cancers for a period of upcoming 5 policy years. Benefits for Early Stage Cancer or Carcinoma-in-situ will be paid only once during the policy term and for the first occurrence only. Once benefits have been paid for Major Cancer, benefits under policy will cease and further benefits will not be payable. Other outstanding Income Benefits will be paid as per schedule. In case of policyholder’s death while receiving Income Benefit, remaining payouts will be paid to nominees as per schedule.

Other Benefits:

Death Benefit	The primary aim of the HDFC Life Cancer Care Plan is to help the policyholder survive through Cancer by providing financial aid and hence benefits are linked to diagnosis. Therefore, there are no death benefits to this plan.
Maturity Benefit	There are no maturity benefits provided by the HDFC Life Cancer Care Plan.
Surrender Benefit	There are no surrender benefits under the HDFC Life Cancer Care Plan.

Riders / Add-On Plans – Additional Coverage under the HDFC Life Cancer Care Plan:

There are no add-on plans or riders available under the HDFC Life Cancer Care Plan.

Exclusions - What the HDFC Life Cancer Care Plan doesn’t Cover?

There will be no benefits paid under the policy with respect to Early Stage Cancer, Carcinoma-in-situ and Major Cancer that is a result of or caused due to the following, either directly or indirectly -

• AIDS, HIV or a Sexually Transmitted Disease
• Congenital conditions
• Pre-existing conditions
• Intoxication by narcotics or alcohol or voluntarily using medication, drugs or sedative unless it taken according to package directions or is an over-the-counter drug.
• Chemical, biological or nuclear contamination.
• Policy will terminate and other benefits will not be paid if signs and symptoms occurred during the waiting period.

Other Key Features – Freelook Period, Surrender Values, Grace Period etc

Cancellation during Free Look period	In case policyholders do not agree with the terms and conditions or are not satisfied with the same, the policy can be returned with valid reasons within 15 days from date of receipt of policy documents. In case the policy was sold through distance marketing methods (as defined by IRDAI), a period of 30 days is available.
Grace Period	Grace period of days is available for those policies wherein premium is being annually, semi-annually and quarterly. For those policies wherein premium is being paid monthly, grace period is days. The cover under the policy will be in force during the grace period. In case a claim arises during this period, it will be honoured but the due and unpaid premium will be deducted from the benefit that is payable.
Renewal	A period of 30 days is available from the expiry of policy term, to renew the policy as long as maximum age of maturity and minimum policy term is within the permissible limit.
Waiting Period	180 day waiting period is applicable from date of policy inception or date of cover reinstatement.
Reinstatement	Reinstatement will be allowed based on a board approved underwriting policy and will be subject to terms and conditions. A policy that has lapsed can be reinstated within a period of 2 years from the first unpaid premium as long as all outstanding premiums is being paid along with the interest and evidence of good health is provided. In case reinstatement is required, the following rules will apply - days is not applicable Waiting period of 180 days is not applicable as long as continuous waiting period of 180 days has been served and policy is revived within a period of 60 days from lapse.

Tax Benefits - How you can save with the HDFC Life Cancer Care Plan?

Customers would be eligible for tax benefits under Section 80D of the Income Tax Act of 1961. The most deduction that can be claimed is Rs.35,000 currently and this is inclusive of additional deduction of Rs.20,000 in case of insurance on the health of parents who are senior citizens. The tax benefits mentioned above are subject to changes in tax laws and hence policyholders are advised to consult their tax advisors regarding the same.

Other Benefits - How can you save with the HDFC Life Cancer Care Plan?

HDFC Life is one of the foremost insurance providers in the country. Customers can choose between a variety of products based on their necessities.

Online Applications	HDFC Life Cancer Care Plan can be availed online by logging in to the HDFC Life website. This method is convenient for those who are unable to visit one of the HDFC branches to purchase the plan or stay in far-off places.
Customer Care	In case individuals have any queries, they can contact the customer care centre. They can contact the customer service department via SMS,email, toll free number, letter, etc.
Calculator	Before purchasing the HDFC Life Cancer Care Plan, customers can identify their insurance needs on the basis of income, liabilities and expenses by using the HLV or Human Life Value Calculator, available on the HDFC Life website. Similarly, customers can also use the tax calculator by HDFC Life and find the amount of tax that they’ll have to pay.

Why should you Buy the Cancer Care Plan from HDFC Life?

HDFC Life is one of the foremost providers of life insurance policies within the country. Through this provider, customers can avail insurance plans that come with a number of unique benefits and services. HDFC Life has a network of about 39 offices that are spread across 9,000 touch points in India for easy access. HDFC Life also has one of the highest Claims Track Record in the company with 95% of claims being honoured. This company has a fantastic financial consultancy wing in India and abroad while providing some of the most successful insurance plans for a wide variety of clientele. Cutting edge technology is employed by HDFC Life resulting in the company having one of the best claim settlement records in the company as compared to certain other insurance providers.

HDFC Life Cancer Care Plan FAQs:

Q. How can customers find out the status of their policy application?

A. Customers can find out the status of their policy application by either calling HDFC Life on the toll free customer care number or by sending them an e-mail.

Q. Are Service Taxes applicable while purchasing this of the HDFC Life Cancer Care Plan?

A. Service tax along with education cess will be charged by cancellation of units.

Q. Can loans be procured through this policy?

A. There are no loans available through this policy.

Q. Can policyholders make alterations in their policy?

A. Customers cannot avail any changes in their premium payment term or in their policy term. However, change in the frequency of premium payment is allowed.

Q. Is the HDFC Life Cancer Care Plan portable?

A. The HDFC Life Cancer Care Plan is portable as per the IDAI (Health Insurance) Regulation of 2013.

Q. Can policyholders nominate someone to this plan?

A. The member of the policyholder of a life insurance will be able to nominate an individual or individuals who will receive the death benefit.

• In case the nominee is a minor, member of policyholder will be allowed to appoint a person to receive the benefit in case of member’s death during minority of the nominee.
• Nomination can be made prior to policy maturity.
• Nomination can be incorporated in the policy text itself.
• Nomination can be changed or cancelled at any time prior to policy maturity by an endorsement.
• Fee to be paid for registering change will be specified by the authority via regulations.
• A notice in writing of cancellation or change of nomination will have to be delivered to the insurer for the insurer to be liable, to the nominee.

Q. Is there a survival period applicable in order to become eligible for claim payouts?

A. A survival period of 7 days between the date of diagnosis of a condition and eligibility date is applicable for the payment of benefit.

Q. What happens if an individual does not pay premiums during the Grace period?

A. In case an individual does not pay the premium during the Grace period, the policy will lapse and the cover will cease.

Q. Can customers avail discounts on the premium?

A. Discounts are available in the form of lower premium rates for Incremental Sum Insured over Rs.10,000. The formula used to calculate this is - 10,000 x Rate A +(Sum Insured - 10,00,000) x Rate B.

Q. Is assignment permitted in the HDFC Life Cancer Care Plan?

A. Assignment will be subject to Section 38 of the Insurance Act of 1938, and as amended from time to time.