Cancer is by far the most deadly disease in the world. Given the health circumstances of the majority of the population, it can strike anyone at any time. You might have seen at least one person suffering from some type of cancer in your family or extended circle. Although most types of cancer are curable; however, the amount of money it requires for treatment leaves people with a big hole in their pocket. The treatment and recovery costs lead to a huge strain on the finances.Read more
*Tax benefit is subject to changes in tax laws. *Standard T&C Apply
** Discount is offered by the insurance company as approved by IRDAI for the product under File & Use guidelines
There is one way to fix the financial strain and that is to be prepared for the future. You require a plan that can give you a financial backup in your critical times. A Term Insurance plan can come to your rescue. The traditional plans can help you with the payout of lump-sum amounts whereas the cancer-specific plans can further help you with paying the medical bills, etc.
You can purchase a term insurance plan for a cancer patient at extremely affordable premiums.
In rare cases, where it is next to impossible to get an insurance policy for a person who is diagnosed with severe cancer. One can opt for a traditional term plan and add a rider 'critical illness cover'. This will provide coverage for those who are either diagnosed or yet to be diagnosed against the uncertainty of life.
The following eligibility criteria are required to be met by the customer in order to purchase term insurance for cancer treatment:
This plan offered by ICICI Life is the most affordable term insurance plan which you can find in India. This plan offers a minimum sum assured of ₹ 5 Lakh and a maximum sum assured of ₹25 lakh. The policy term ranges from 10 years to 50 years. The perk of buying this plan is, it offers free cancer screening.
This is popular for providing the option to choose from 3 different types of plans based on your requirements. Under this plan, you can get a cover of up to ₹ 20 lakh. If you will choose to go for a higher sum insured, you can avail discounts on your plan.
This plan is very specific to the type of cancer. AEGON Life does not offer coverage against skin cancer. Apart from that, it provides coverage against all types of cancer. It also offers payouts to the policyholder at all stages of cancer treatment.
Before you plan to purchase a term insurance plan for a cancer patient, You need to understand all the terms and conditions mentioned in the policy document. It is advisable to choose a term plan that suits your requirements and lifestyle goals.
You need to keep in mind that mostly cancer-specific plans do not offer coverage for 'skin cancer' caused by sexually transmitted infections, pre-existing diseases, nuclear or biological contamination.
Buying a term insurance plan for a cancer patient is the most secure way to safeguard the future against critical situations in life. It is always adviced to choose a cancer-specific policy in case you anticipate suffering from cancer in future. There could be any reason for that anticipation; however, if you do start to develop having the symptoms in your body, you must not delay buying a term insurance plan.
04 May 2022Term insurance is the pure protection life insurance plan that...
04 May 2022A homemaker’s contribution to the household is uncountable and...
04 May 2022Aegon Life iTerm Forever Insurance is whole life term insurance...
04 May 2022Term insurance is a pure and simple life insurance product. When...
04 May 2022Keeping your family members secured against any unfortunate...