Cancer Cover Insurance

Due to the nature of cancer as a disease, acquiring a suitable insurance plan that provides coverage for such cases can be a difficult task. Treatment for cancer patients can put severe strain on the financial resources of the individual as well as their families due to the high expenses involved during different stages of treatment.

Benefits of Cancer Insurance Plans

• Covers multiple stages of cancer
• Lumpsum is paid out on cancer diagnosis
• Premium waiver is available under certain conditions like early stage cancer diagnosis
• If there are no claims during the year, the sum assured increases by a pre-specified percentage
• Monthly income is paid out for a specified number of years subject to certain conditions, such as in case of major cancer diagnosis
• Premium discounts are available for policies over a certain amount
• Tax benefits under section 80D of the Income Tax Act

Benefits of Cancer Patients

The benefits offered to cancer patients vary from one insurance company to another. However, some of them offer the following benefits

• Offer cancer patients waiver benefits depending on the case. Under such circumstances, future payments towards premiums are waived off for the remaining term of the policy
• Offer free cancer screening, which take place through tests done at hospitals or medical centers. These screenings can be done throughout the duration of the policy term