With our lives moving at a fast pace, stress and anxiety walk hand in hand and so do the health-related threats. Weakening of immune systems with time has given way to the entry of various diseases which have progressed to advanced levels; including cancer whose occurrences have escalated in the last decade.
Here are a couple of statistics on cancer in India:
- According to GLOBOCAN, almost seven lakh people die of cancer in India; a majority of these are from the 30-69 age groups. And every year 10 lakh new cancer patients are identified
- According to insurance experts, one in five cancer claims are made by people in the 36-45 age group
- GLOBOCAN says the number of cancer patients in India is expected to increase to 17 lakh every year by 2035. The disease could potentially put 12 lakhs lives at risk.
Most Life insurance plans even those with a critical illness component cover, do not cover early-stage cancer or patients detected with CIS within 180 days of the plan purchase time. They only cover advanced-stage cancer. Moreover, they do not cover the complete cost of treatment, but only cover in-patient bills.
Cancer insurance plans, which are available at relatively low premiums, are a great help in dealing with the financial burden of cancer treatments.
Max Life offers a comprehensive Cancer Insurance plan. Along with the usual cover, the Cancer Insurance plan also provides:
- 20% of the sum assured is given out as lump-sum payment in the event of early-stage cancer detection
- All future Premium payments are waived off for the entire policy term after being detected in an early stage
- Benefit of fixed monthly income for 5 years to help stabilize the family expenses
- Sum assured increases by 10%(Simple rate) for every claim-free year upto maximum 150% of base sum assured value
- Also, the premiums paid are eligible for tax benefits under Section 80D of the Income Tax Act, 1961
Max Life Cancer Insurance Plan (UIN- 104N093V01)- A Non-Linked Non-Participating Insurance Plan. Benefits defined under the plan are payable only on diagnosis of Cancer as specified. There is no maturity or surrender benefit available under the plan.
1) The information in this article has been collected through secondary research and Max Life Insurance Company Limited is not responsible for the accuracy of the content
2) This information is provided for general knowledge only. Kindly consult your doctor/physician for any specific queries