Health Insurance for Cancer in India
Being one of the deadliest disease, cost of cancer treatment in India whether it is breast, lung, liver cancer etc. is extremely high as it involves chemotherapy, radiation therapy and many other diagnostic tests along with hospitalization expenses. And for a middle class family this high cost drains out their life long savings and more over there is no guarantee for the patients survival. So that is why buying insurance for cancer has become quintessential. Moreover in India every year over 15 Lac cases of cancer are detected and nearly 8 lac people succumb to it. As this number is rising along with the treatment cost, people buying health insurance for cancer is on rise.
In India, insurance for cancer patients is available which covers you against this disease and that too at a very less premium and this has resulted in increased survival rate as patients could now afford treatment costs covered under an insurance policy. Most importantly people aged between 36-55 claims are the highest. As per the claims data, in the year 2011-12 over 45000 claims for cancer were made and overall settlement amount reached to a whopping 163 Crores. According to the experts cancer is the 4th highest among all health conditions for which claims are paid.
Cancer Insurance Providers in India
Currently in India many providers offers medical insurance policies for cancer patients but of these ICICI prudential and venture between Indian Cancer Society (ICS) and The New India Assurance Company Limited (NIA) are the best both in terms of cost, policy coverage amongst many other factors. However there are many terms and conditions in order to avail the benefits.
Most important ones for the insurance for cancer provided by ICS and NIA as follows:
- Insurance of cancer is only for the people with no history of cancer and the person has to submit certificate stating good health condition
- Entry age of person should be up to 70 years
- If cancer is detected within the first 3 months or (90 days) of buying an insurance policy then your cover is terminated
- Every quarter claims are reimbursed and that too until the entire sum is exhausted
- Insurance covered is INR 50000+5% additional sum insured upto INR 75000 for every claim to be renewed for an annual premium of INR 421 for a couple. If you want an extension and add 1 dependent child then you can do so by paying an additional amount of INR 111. For another child you will have to add INR 110 more. So total amounts to INR 221.
- Insurance covered and INR 2,00,000 (2 Lacs) + 5% additional sum insured upto INR 3,00,000 (3 Lacs) for every claim to be renewed for an annual premium of INR 1082 for a couple. For including 2 children as dependents you will need to add INR 221.
However as mentioned above, your child should be of minimum 1 year and maximum 20 years in order to add them as a dependent.
For additional details person can E-mail ICS at ics_mumbai@yahoo.com or contact on phone: 022-24125238/24139445
Also listed below are the terms and conditions, benefits by ICICI cancer care plus:
- Their cancer insurance policy sufficiently offers coverage for the cost of diagnosis, hospitalization, chemotherapy, biopsy etc.
- Entry age 20-60 years
- Sum assured INR 5 Lac – 25 Lac
- Policy term is 365 days i.e. 1 year
- Annual premium for men and women for a cover of 10 Lac is INR 4604-8945 and INR 8602-14845 respectively
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