HDFC Life Cancer Care Plan
The number of cancer patients in India is expected to rise from 26.7 million in 2021 to 29.8 million in 2025, according to ICMR (Indian Council of Medical Research) reports. Having said that, financial problems should also be anticipated given the high cost of therapy, in addition to the emotional and physical sufferings that result from cancer.
In such a scenario, the HDFC Life Cancer Care plan comes as a life savior for individuals suffering from this deadly disease. It is a comprehensive cancer care program that is meant to provide financial security during the early and severe stages of cancer. It provides three alternatives to accommodate different consumer needs.
Continue reading to know about the plan.
|Minimum Entry Age||5 Years|
|Maximum Entry Age||65 Years|
|Minimum Maturity Age||15 Years|
|Maximum Maturity Age||85 Years|
|Minimum Policy Term||5 Years|
|Maximum Policy Term||85 Years – Entry Age|
|Sum Insured||Rs. 10 Lakhs To Rs. 50 Lakhs|
Key Attributes Of HDFC Life Cancer Care
The HDFC Life Cancer Care plan has the following features:
|Plan Variants||Gold, Silver, & Platinum|
|Malignant Cancer OR Carcinoma-In-Situ||Covered|
|Grace Period||Grace periods of 30 days are available for annually, half-yearly, and quarterly frequency while grace periods of 15 days are available for monthly frequency.|
|Waiting Period||180 Days|
|Survival Period||7 days from the date of benefit payment & date of diagnosis|
Benefits Offered By HDFC Life Cancer Care
The plan offers the following benefits to the policyholder:
- Base Benefit: Under all three plan variants, the policyholder will receive Cancer Diagnosis Benefit for malignant, early stage, and major cancers. For early-stage cancer, 25% of the applicable sum assured will be provided to the policyholder; whereas, for major cancers, 100% of the sum insured will be applicable.
- Income Benefit: Under the Platinum plan variant, 1% of the sum insured would be paid out upon diagnosis of the main malignancies indicated for a defined term of the following five policy years.
- Increased Benefit: Under the Gold and Platinum variant of the plan, the sum assured amount increases by 10% each year if no claim is made.
- Waiver On Premium Benefit: For three policy years, premiums will be waived upon a diagnosis of Early-Stage Cancer or Carcinoma-in-Situ (CIS). The premiums for the remaining period would not be charged if it was less than three years.
- Premium Discounts: The plan has lower premium rates in case your sum assured is over Rs. 10 lakhs. Moreover, if you buy the policy online directly, a 5.5% discount will be provided on the policy premium.
- Tax Benefits: As per the Income Tax laws, you may be eligible to receive tax benefits while buying the policy. It is advised to consult your tax advisor to avoid any kind of misinformation.
Premium Calculation Of HDFC Life Cancer Care Plan
Before you zero in the HDFC Life Cancer Care plan, it is important for you to be cognizant of the estimated amount of premium you need to pay for the plan. Therefore, we have curated a list of premium amounts calculated on the basis of different criteria, including age and gender. The list is for a sum assured of Rs. 20 lakhs.
|Name||Age||Gender||Policy Term||Premium Amount|
|Devika Singh||30 Years||Female||10 Years||Rs. 1025||Rs. 1320||Rs. 1864|
|Mohan Chopra||40 Years||Male||15 Years||Rs. 2663||Rs. 4223||Rs. 6379|
|Sakshi Sharma||50 Years||Female||20 Years||Rs. 9171||Rs. 15508||Rs. 23462|
|Devansh Kalra||55 Years||Male||10 Years||Rs. 12091||Rs. 17272||Rs. 26095|
What’s Not Included Under HDFC Life Cancer Care Plan?
Major Cancer, Carcinoma in Situ, or Early-Stage Cancer caused directly or indirectly by:
- Diseases spread through sexual contact HIV or AIDS
- Any inherited disorders
- Any existing medical condition
- Wilfully consuming or using any drug, medication, or sedative unless it is an “over the counter” drug, medication, or sedative taken in accordance with the directions on the box.
- Contamination by nuclear, biological, or chemical agents
- If the diagnosis or the first indications or symptoms of the cancer were discovered during the waiting period, the policy would expire and no benefits will be paid out.
Frequently Asked Questions
You can choose to pay HDFC Life Cancer Care premiums on a monthly, quarterly, annual, or half-yearly basis.
No. Any change in policy terms and premium payment terms is not allowed under the plan.
Under certain terms and conditions, the company may agree to reinstate the policy in accordance with the board-approved underwriting policy.
Yes. By visiting the HDFC Life website, one can access the HDFC Life Cancer Care Plan. For people who live in remote locations or are unable to visit an HDFC branch to purchase the plan, this option is extremely beneficial.
Upon receiving a cancer diagnosis, the policyholder is given the sum assured. HDFC Life Cancer Care insurance aims to reduce the costs associated with treating serious illnesses like cancer. As a result, the payment is dependent on the diagnosis of the condition, and no death benefits are paid.
HDFC Life Cancer Care plan does not cover hospitalization costs, in contrast to health insurance. When one of the cancer types listed in the plan is diagnosed, the policy pays the insured a lump sum. It offers your family financial security and can pay for costs like out-of-pocket medical expenses, out-of-network specialists, experimental cancer treatments, travel, and housing, among other things. You have the right to receive any kind of care at any hospital of your choosing, even ones that are not part of the network.