Cancer Insurance

How Does Cancer Insurance Work?

A cancer insurance policy gets activated as soon as a person is diagnosed with cancer. Most insurers pay a lump sum amount equivalent to the sum insured on the diagnosis of the disease. The claim amount can be used to cover the treatment cost of cancer or compensate for the loss of income. However, some plans also come with the regular payout option.

In fact, several health insurance plans for senior citizens come with cancer cover, which is either built-in or available as an optional cover on the payment of an additional premium. Moreover, the claim amount is usually payable at various stages of cancer diagnosis, including minor, major and critical stages.

However, cancer insurance policies do not offer death, maturity or surrender benefits. Besides, the policyholder cannot file a claim within the first 90 days (usually the stipulated waiting period under most cancer insurance plans).

List of Cancer Insurance Plans in 2026

The table below mentions the various cancer health insurance plans that people can consider buying this year:

*Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India, refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in.

Types of Cancer Covered by Cancer Insurance Plans in India

Take a look at the various types of cancers covered under cancer insurance plans at early and advanced stages:

• Lung cancer
• Breast cancer
• Ovarian cancer
• Stomach cancer
• Colon cancer
• Oral cancer
• Hypolarynx cancer
• Prostate cancer
• Cervical cancer
• Blood cancer
• Thyroid cancer
• Other cancers

Benefits of Cancer Insurance Plans

Here are some of the key benefits of buying a cancer insurance plan:

• Coverage for Multiple Cancer Stages - It covers multiple stages of cancer and pays the claim amount to the policyholder, no matter the stage at which they were diagnosed.
• Lump Sum Payout - A lump sum amount is paid to the insured upon a cancer diagnosis.
• Premium Waiver Benefit – Some cancer insurance plans offer a premium waiver benefit, where the premium is waived off under certain conditions, like an early-stage cancer diagnosis.
• No Claim Bonus - If no claims are raised during the year, the sum insured automatically increases by a pre-specified percentage, or the insurer offers a discount on renewal premium.
• Monthly Payout – The monthly payout option is also available under some health insurance plans, where the sum insured is paid like a monthly income on the diagnosis of a major cancer for a specified number of years. However, it is subject to various terms and conditions.
• Continuum of Coverage – Cancer insurance coverage under several plans do not cease after the first diagnosis of the disease.
• Tax Benefits - Tax benefits under Section 80D of the Income Tax Act are available on paid cancer insurance premiums.

Why Do You Need a Cancer Insurance Plan?

Buying a cancer insurance policy is important because of the high cost of cancer treatment, which usually goes on for a long time. This disease can have a domino effect on families physically, emotionally, and financially. Besides, even a good health insurance policy may not cover all cancer treatment-related costs. If it does, there are conditions for coverage at different stages of cancer.

With a cancer insurance policy, patients can pay for the expensive and long-term treatments of cancer without exhausting their savings. It allows patients to afford the best treatment at the best hospital with no compromises. This is why opting for a cancer cover under health insurance for parents is highly recommended. The claim amount can also act as a substitute for loss of income in case the parent or the breadwinner of the family is diagnosed with cancer.

Exclusions of a Cancer Insurance Plan

The following diseases or medical conditions are usually not covered under a cancer insurance plan:

• Any kind of cancer directly or indirectly caused by or contributed to by sexually transmitted diseases, HIV or AIDS
• Cancer resulting from any congenital condition
• Cancer resulting from biological, nuclear, or chemical contamination
• Any cancer caused by coming in contact with radiation or radioactivity from any non-diagnostic or therapeutic source

Note: These are general exclusions. Specific exclusions may vary from plan-to-plan.

How Does Cancer Insurance Differ from a Critical Illness Insurance Plan?

Take a look at the key differences between cancer insurance and critical illness insurance plans:

Who Should Buy Cancer Insurance?

People should consider buying a cancer insurance plan if:

• They have a family history of cancer
• They have a higher risk of developing cancer due to environmental or other reasons
• They do not have adequate savings to pay large medical bills
• Their regular mediclaim policy does not have sufficient sum insured to cover cancer treatment
• The policyholder is the only earning member in the family

Things to Consider Before Buying a Cancer Insurance Plan

The following things should be considered before buying a cancer insurance plan:

• Family History of Cancer: For those with a strong family history of cancer, purchasing cancer insurance is recommended. Such people must analyze how cancer insurance will complement their current health policy.
• Two Policies Do Not Mean Double Coverage: Having a comprehensive health insurance policy plus a separate cancer insurance plan does not necessarily mean you can get double benefits. Most insurance policies come with a ‘coordination of benefits’ clause, which ensures that one plan will not cover expenses covered by the other plan.
• Compare Plans Online - After careful analysis, if you decide to go ahead and buy cancer health insurance, you must check and compare as many plans as possible. You can compare cancer insurance online on the website of Policybazaar Insurance Brokers Private Limited based on coverage, benefits, premiums, etc. You can also purchase the selected plan from the website within a few minutes.

How Can Policybazaar Help in Choosing the Right Cancer Insurance Plan?

Policybazaar can compare and analyse various cancer insurance plans offered by some of the leading health insurance companies in India. It can help people make an informed decision and choose the most suitable plan as per their specific needs. All they need to do is enter a few details like name, date of birth, email address, and mobile number and compare the list of health insurance plans for cancer patients.