5 Things to Focus on before Buying a Cancer Insurance Plan

5 Things to Consider Before You Buy Cancer Care Policy

5 Things to Focus on before Buying a Cancer Insurance Plan

Besides causing a devastating impact on an individual’s health, diagnosis of cancer leads to a huge financial strain due to the high treatment expenses. In order to avail of coverage against this disease, you may invest in a cancer plan.
As the name suggests, cancer insurance policies offer coverage against various types of cancer. Upon diagnosis of this disease, the insurance company either offers partial payout or a lump sum payout. This acts as an income replacement as individuals with cancer may not be able to continue with their work routine. Besides, the amount received may be used to cover expenses such as chemotherapy, consultation costs, and hospital stays, besides others.

You may take the following five aspects into consideration before making a decision.

  1. High sum insured

    Given the ever-increasing cost of medical expenses, it only becomes necessary to opt for a high coverage so as to secure your finances in case of diagnosis of cancer. You may seek a high sum insured to combat the financial impact of this disease.

  2. Various stages of cancer

    The various stages of cancer describe how far the cancer has spread, namely pre-cancer stage, early stage, and critical stage. You may opt for a cancer policy that provides the benefit of stage-based payouts. This indicates that payouts will be provided based on the treatment expenses incurred in case of the various stages of cancer.

  3. Waiting period clause

    Waiting period refers to the span of time before the disease gets covered under your health insurance policy. During the initial waiting period, you cannot make any claims from your policy. You may also consider the survival period while buying your policy. Survival period refers to the length of time that you need to survive after you are diagnosed with cancer. Once you have passed the survival period, you are eligible to make a claim.

  4. Income benefit and Waiver of Premium (WOP)

    Most cancer insurance plans have in-built benefits such as income benefit and waiver of premium benefit. Income benefit refers to the monthly income payable upon the diagnosis of cancer, which is up to a certain period. While purchasing your policy, you may also opt for waiver of premium benefit. This indicates that all your future premiums will be waived off for the remaining policy term upon the cancer diagnosis.

  5. Wider policy term

    Based on your present age, you may opt for a higher policy term. A greater coverage period ensures that you are financially secured for a longer term with the same premium.

    If you are planning to purchase a cancer plan, you may invest in HDFC Life Cancer Care policy. This plan covers numerous costs, such as experimental cancer treatment, out of network specialists, and other medical expenses. It offers lump sum benefit on diagnosis of early as well as major stages of cancer. With three plan options, namely Silver, Gold, and Platinum, you may select the level of coverage as per your requirements. You may, therefore, avail of the HDFC Life Cancer Care plan and stay financially secured in case of challenging situations.

*premium Amount for Male, 35 yrs, 10 year term, Silver option, including tax.
HDFC Standard Life Insurance Company Limited.

Insurance is the subject matter of the solicitation. For more details on risk factors, associated terms and conditions and exclusions please read the product brochure before concluding a sale. HDFC Life Health Assure Plan (Form No. P501-105, UIN: 101N087V01) is the name of traditional health plan offered by HDFC Life. HDFC Standard Life Insurance Company Limited is only the name of the Insurance Company, HDFC Life is only the name of the brand and HDFC Life Health Assure Plan is only the name of the product. The name of the company, name of the brand and the name of the product does not in any way indicate the quality of the contract, its future prospects or returns. HDFC Standard Life Insurance Company Ltd. IRDAI Reg No. : 101. ARN: MC/03/2015/6186.
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HDFC Standard Life Insurance Company Ltd.
Lodha Excelus, 13th Floor Apollo Mills Compound,
N.M. Joshi Marg, Mahalaxmi
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Telephone: (022) 67516666

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