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Cancer is such a disease that disturbs the mental as well as financial balance of a family. Hence, it becomes crucial to avail coverage against this life-threatening disease. Buying a life insurance plan with cancer coverage is the best way to deal with this disease. We are discussing some such policies and their benefits in this post.
Healthy people can opt for a policy offering coverage against cancer. If the policyholder dies due to cancer, the death will be covered under the plan. However, if a person is already diagnosed with the disease, they may not be able to get coverage under a cancer life insurance plan. So, people not diagnosed with cancer can opt for a life insurance policy with a critical illness coverage benefit to stay protected in any unforeseen future situation.
Yes, several life insurance policies allow coverage against cancer. However, these insurance plans are available only for people who are healthy and who are not diagnosed with cancer yet. Hence, to avail of such plans, the policyholder must declare their medical health condition at the time of buying the policy.
In case a person is already diagnosed with cancer while applying for the plan, they may not get the coverage, and their policy may get rejected. Some insurers might levy waiting periods for such people before they can avail the benefits of compensation against such diseases.
Here are some benefits of life insurance plans covering cancer:
Below are the top three life insurance policies that are most beneficial for cancer patients:
Life Insurance for Cancer Patients
Age of entry
Age of Maturity
Premium Payment Term
Aegon Life iCancer Insurance Plan
|18 – 65 years||70 years||5 to (70 Entry age)||Min – INR 10 lakhs
Max – INR 50 lakhs
|HDFC Life Cancer Care||
5 – 65 years
|85 years||5 to (85 Entry age)||Min – INR 10 lakhs
Max – INR 50 lakhs
|SBI Life-Sampoorna Cancer Suraksha||
18 – 65 years
|75 years||5 to 30 years||Min – INR 10 lakhs
Max – INR 50 lakhs
Below are some key factors to keep in mind while choosing a life insurance plan with cancer coverage:
To Sum Up
We have discussed most of the aspects of a term plan with cancer cover. However, before buying a life/term insurance plan, be sure to read the policy terms and conditions and understand them. Choose a plan that suits your pocket and requirements to work as the best life insurance for cancer patients.
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Answer a few simple questions to determine the ideal plan that suits you best at PayBima Health Advisory.
Yes, several life insurance policies allow coverage against cancer in India.
~ Aditya Birla Activ Secure – Cancer Secure
~ Aegon Life iCancer Insurance Plan
~ HDFC Life Cancer Care
~ SBI Life-Sampoorna Cancer Suraksha, etc.
Yes, LIC covers cancer with a life insurance plan that is non-linked and non-participating.
Tata Cancer Care Foundation (TCCF) is a not-for-profit entity established in 2017 to offer affordable and good-quality cancer care to Indians.
Yes, cancer-specific plans and critical illness insurance plans cover all the costs associated with cancer treatment, including chemotherapy.
The policyholder receives a lump sum amount depending on the type of cancer diagnosed.
Yes, if you purchased life insurance before the diagnosis of the disease, it is generally covered by your cancer-specific life insurance policy.
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Life insurance secures our families against unforeseen incidents, the armed forces protect the country against unseen enemies both within and outside the borders. Army sacrifices.
Life Insurance Corporation (LIC) of India presents a wide array of insurance products and service options to its customers. With millions of policyholders, the query.
India’s leading public sector insurer, LIC, is synonymous with security and trust. LIC has been serving Indian customers for a long time now. With a.
There are many policyholders who apply for policy cancellation just after a year of purchasing the plan. Why is it so? People generally buy insurance.
LIC is a public sector insurer that caters to the common people, including the rural population. LIC offers several cost-effective policies with attractive features and.
“What would happen to my family if I had to leave the world unexpectedly?” This is one question that strikes us all at some point.
Life insurance policies are a kind of security that people buy to protect their family members against the uncertainties of life. However, at times it.
Insurance is a safety net that safeguards against uncertainties in life. One significant aspect of insurance is the rider facility available with the basic policies..
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