Skip to main content

Cancer Insurance in India

 

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:
  1. Insurance of cancer is only for the people with no history of cancer and the person has to submit certificate stating good health condition 
  2. Entry age of person should be up to 70 years
  3. If cancer is detected within the first 3 months or (90 days) of buying an insurance policy then your cover is terminated
  4. Every quarter claims are reimbursed and that too until the entire sum is exhausted
  5. 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.
  6. 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:
  1. Their cancer insurance policy sufficiently offers coverage for the cost of diagnosis, hospitalization, chemotherapy, biopsy etc.
  2. Entry age 20-60 years
  3. Sum assured INR 5 Lac – 25 Lac
  4. Policy term is 365 days i.e. 1 year
  5. Annual premium for men and women for a cover of 10 Lac is INR 4604-8945 and INR 8602-14845 respectively
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016 or Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

Popular posts from this blog

Rs 14,000 Crore worth of tax free bonds coming soon from NHAI , PFC

  NHAI, PFC file prospectuses, coupon rate not yet decided MORE debt investment options have opened up for investors with AAA rated tax-free bonds worth over Rs 14,000 crore lined up. The National Highway Authority of India ( NHAI ) and Power Finance Corporation ( PFC ) are offering Rs 10,000 crore and Rs 4,033.13 crore worth of tax-free bonds, respectively, as per prospectuses filed with the Securities and Exchange Board of India (Sebi). Of a Rs 5,000 crore issue by PFC, Rs 966.87 crore has already been raised through private placement on September 28 and November 1. Tax-free bonds give investors tax-free return on any amount invested. In another kind of bonds, the long-term infrastructure bonds, investments up to Rs 20,000 are tax exempt, that is this cap amount can be deducted from the taxable income. Accordingly, the NHAI prospectus has clarified that only the amount of interest from -and not the actual investment on -its new bonds will be tax-free. "NHAI's publ...
Read more

Change in Fund Manager for some of HSBC Mutual Fund Schemes

Buy Gold Mutual Funds Invest Mutual Funds Online Download Mutual Fund Application Forms Call 0 94 8300 8300 (India) However, this facility is only available to Unit holders who have been assigned a folio number by the AMC.   HSBC Mutual Fund has announced that the below mentioned schemes shall be managed by the new fund managers as stated in the table. The effective date will be July 02, 2012.   Amaresh Mishra 's will be Vice President and Assistant Fund Manager. Having done a Post graduate diploma in Business Management and Bachelor of Chemical Engineering, he has over seven years of experience in Equities and Sales.   Mr. Piyush Harlalka's designation shall be Vice President- Fixed Income. Qualified as a C.A., C.S. and holding M.B.A.( Finance degree), he has over six years of experience in Fund management and ...
Read more

How EEE and EET Tax affect Retirement Investments

  An important factor while choosing a financial product is its taxation , and for retirement savings, this is even more important as the sums involved are usually life-long savings. Here's a look at the current tax treatment of three major long-term retirement planning products, which are - Employees' Provident Fund (EPF), Public Provident Fund (PPF) and National Pension System (NPS). EPF The tax treatment is EEE, which means your money is exempt from taxes at the time of investment, accumulation and withdrawal. At the time of investment, the tax deduction is under the limit of section 80C of the Income-tax Act , which is currently Rs 1.5 lakh. Partial withdrawals are also tax-free if made after 5 years of continuous service. If withdrawals are made before 5 years of service, 10% tax will be deducted at source. Exceptions have also been provided for transfer of amount and conditions wherein the subscriber is unemployed for more than 2 months or the loss of job was beyond th...
Read more

Personal Finance: You can insure your wedding

But luck may not always be on your side. With the frequency of such attacks, as also other risks and unforeseen accidents growing, a wedding insurance is something you may want to look at if a marriage is being planned in the family. Event insurance plans like this is still in its nascent stages due to low awareness. And given the sacred nature of the ritual, nobody wants to discuss or think negative. But as wedding spends and risks grow, it makes sense to cover the potential monetary loss. The policy in those countries even covers the loss of the wedding ring, the wedding gown not reaching on time and even the expenses/loss due to late or non-appearance of the photographer which may mean staging the event once again for the photograph. In India, most insurance companies — including ICICI Lombard General Insurance, Oriental Insurance, Bajaj Allianz and National Insurance — offer wedding insurance. The policy is tailor made to individual requirements and needs. The sum insur...
Read more

DSP BlackRock MidCap Fund

Best SIP Funds Online   HOW HAS DSP BlackRock Small & Mid Cap Fund PERFORMED? With a 10-year return of 14.61%, the fund has outperformed both the category average (12.34%) and the benchmark (10%) by a good margin. Should you invest in DSP BlackRock Small & Mid Cap Fund? This fund invests predominantly in mid-cap stocks but takes a sizeable exposure in small-caps as well. The focus is on nascent companies with high growth potential. The fund manager places emphasis on quality and avoids inferior businesses even if these look tempting from a valuation perspective. Over the past year, the fund portfolio has grown, having added to some of the underperforming sectors like chemicals and healthcare. Its portfolio churn has come down significantly. The heavily diversified portfolio is run completely agnostic of its benchmark index— most bets are from outside the index—which can at times lead to bouts of underperformance as seen in the recent years....
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now