Do Critical Illness Plans Have an Edge Over Cancer Specific Health Plans?

The statistics have proven that the incidences of cancer in the country are increasing at an alarming rate. Besides the growing incidences of cancer, the exponentially increasing cancer treatment costs are another cause of worry. While one cannot predict the future, you can certainly plan for it. That’s when health insurance policies come into the picture. However, choosing from different types of health insurance plans such as Critical Illness Plans and Cancer Insurance Plans can be confusing. In order to understand which is better for covering cancer treatment costs, you must understand the features of both the plans.

A critical insurance plan is a specially designed health insurance plan which provides a lump sum benefit for specific illnesses which are not covered under regular health insurance plans. While cancer is covered under most critical illness insurance plans, it has a few downsides when it comes to cancer treatment coverage such as: -

  • • If you are diagnosed with cancer during the waiting period, your critical illness plan will be terminated.
  • • Critical illness policies do not cover early stages of cancer. If an individual is diagnosed with cancer, he/she will have to wait until the cancer advances to make any claim.

As you can see, critical illness policies are not really viable when it comes to cancer treatment coverage. Therefore, purchasing a cancer insurance plan is advisable, especially for those who have a greater risk of developing cancer. Here’s how a cancer care insurance plan aids your cancer treatment: -

Covers Early Stage Cancer

Unlike the critical illness plan, a cancer insurance plan will provide coverage for all stages of cancer. All aspects of cancer treatment such as surgery, chemotherapy, radiotherapy and various other treatment expenses will be covered under cancer insurance. Given the high cost of cancer treatments, financial assistance is of utmost importance. If you have a cancer insurance plan, you need not worry about the expenses and focus solely on your recovery.

Continuation of Policy

Another important reason why a cancer cover is better, is the continuation of policy. The continuity factor is an important aspect because cancer is a disease which may recur at any time. A critical illness cover will cease to exist once the claim is made, so you won’t be able to make any more claims if cancer recurs. On the other hand, a cancer insurance cover continues to exist even after you make a claim.

Clearly, a cancer insurance plan has several advantages over a critical illness plan when it comes to cancer treatment. However, as a buyer, you need to consider other factors such as your risk of developing cancer before making the final call as a cancer insurance plan only covers one disease.

*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
Mumbai, Maharashtra 400011
Telephone: (022) 67516666

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