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The Beginner’s Guide to Cancer Insurance

Cancer is among the deadliest diseases in the world. And, with our changing lifestyles, it has become even more common. <br>https://www.sbilife.co.in/en/individual-life-insurance/traditional/sampoorn-cancer-suraksha<br>

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The Beginner’s Guide to Cancer Insurance

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  1. The Beginner’s Guide to Cancer Insurance Because Situations Can Change Fast

  2. Cancer: You Need to be Prepared 2 Lakh people in India are diagnosed with Cancer every year Cancer is among the deadliest diseases in the world. And, with our changing lifestyles, it has become even more common. Fortunately, with advancements in modern medicine, it’s possible to fight this disease and even be cured. However, the treatment can be prolonged, including cancer drugs, hospitalization, regular checkups and chemotherapy. And, the cost of treatment is excruciatingly high. It can wipe off all your life’s savings. Cancer cases rose by 335% between 2018-2017

  3. What is a Cancer Insurance Plan? You may not be able to prevent cancer, but you can do something to prepare for it. A cancer insurance policy safeguards you against the financial burden of the treatment. It allows you to focus on the treatment without having to worry about the cost and the financial implications on your loved ones. A cancer insurance plan makes a lumpsum payout when you’re diagnosed with this disease. The payout is made even without medical bills. You can use these funds to get the recommended treatment from the doctor and hospital of your choice.

  4. Types of Cancer Insurance

  5. Benefits of Cancer Insurance Plan • Counters cancer treatment costs • Extremely affordable premiums • Makes a lumpsum payout, giving the flexibility to use the funds as you deem fit • Does not require actual medical bills to make the payout (only proof of diagnosis) • Helps pay for more than medical costs, like supplemental income while you’re undergoing treatment and cannot work • You can use the amount for treatment in the country or abroad • Enables you to preserve your savings and investments • Protects your family from the financial burden of your treatment • Can be used to pay off any liabilities, like home or car loan • Allows you to focus only on getting better

  6. Who Can Buy Cancer Insurance Almost anyone and everyone can buy cancer insurance. • Age Criteria • For children – 6 years to 17 years • For adults – 18 years to 65 years • Basic Sum Assured • From ₹10 Lakhs to ₹50 Lakhs • Policy Term • From 5 years to 30 years • Frequency of Premium Payment • Annually, Every Six Months, Quarterly or Monthly • Premiums • Starting from as low as ₹50 per month

  7. Tips to Buy a Cancer Insurance • Buy cancer insurance only from a reputed insurance provider • Get cancer insurance even if you have a medical insurance plan • Opt for a higher cover amount • Choose for a longer policy term • Select a plan that covers all stages of cancer • Choose a plan with: • Option of monthly income benefit • Sum assured reset benefit • Inbuilt premium waiver benefit (which means that premiums are waived off for a certain period – like 5 years – on diagnosis of cancer)

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