Cancer Insurance Payout On Diagnosis
Based on the cancer cover policy terms, you receive a lumpsum amount when diagnosed with cancer. This amount payable under the chosen cancer cover plan also varies as per the diagnosed stage of cancer.
Waiver of Cancer Insurance Premium
Under various cancer plans, you get the benefit of a waiver of cancer insurance premiums. i.e., you do not have to pay premiums after being diagnosed with cancer under certain conditions. You are advised to read the cancer insurance contract carefully to know further.
Significant Cancer Insurance Cover at Low Cost
Under the right cancer insurance plan, you can choose a significant sum insured at an affordable premium.
Quality Treatment in Renowned Hospitals
Unlike many other cancer health insurance policies, a cancer plan from a renowned insurer can also give you the freedom to choose the hospital and cancer treatment using the payout amount. It means there is no need to look for only network hospitals when you have a cancer cover policy by your side.
Increased Sum Insured Per Year
With many cancer cover plans, the sum insured increases annually by a pre-defined percentage in case no claim is filed. You can ask the chosen insurer about these benefits in detail.
You can also save tax in the form of deductions for premiums paid for a cancer insurance plan. This is covered under Section 80D of the Income Tax Act. Tax benefit as per prevailing tax laws subject to change.
