Life Insurance HDFC Life Insurance Cancer Care Plan

HDFC Life Insurance Cancer Care Policy

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.

Eligibility Criteria

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:

Parameters	Status
Plan Variants	Gold, Silver, & Platinum
Malignant Cancer OR Carcinoma-In-Situ	Covered
Early-Stage Cancer	Covered
Major Cancer	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
Portability	Yes
Loan Facility	No
Maturity Benefit	No
Surrender Benefit	No
Death Benefit	No

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
				Silver	Gold	Platinum
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

1. What are the premium modes under the HDFC Life Cancer Care plan?

You can choose to pay HDFC Life Cancer Care premiums on a monthly, quarterly, annual, or half-yearly basis.

2. Is a change in policy terms and premium payment terms allowed under the plan?

No. Any change in policy terms and premium payment terms is not allowed under the plan.

3. Can I reinstate my HDFC Life Cancer Care policy?

Under certain terms and conditions, the company may agree to reinstate the policy in accordance with the board-approved underwriting policy.

4. Can I purchase the HDFC Life Cancer Care policy online?

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.

5. Does the policyholder's family receive any of the death benefits?

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.

6. Does the company have any partnerships with network hospitals for the treatment of cancer?

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.