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Health Insurance 2608 views April 21, 2020
As fighting a disease like cancer is not easy, one should financially be prepared for it. HDFC Life Cancer Care insurance plan helps you with it. It is a non- linked and non- participating cancer protection insurance plan which provides cover for early or any major stage cancer without the requirement of medicals. It pays a lump sum benefit upon diagnosis of early or major stage cancer to the life assured in the plan.
Table of Contents
Cancer Care is a comprehensive insurance policy which provides financial support against major or early stage cancer to you as well as your family.
Key Features of HDFC Life Cancer Care plan are as follows:
Eligibility conditions are required to be fulfilled by the applicant in order to purchase the plan. You are required to ensure the following eligibility criteria before buying HDFC Life Cancer Care Insurance plan:
Parameters | Minimum | Maximum |
---|---|---|
Entry age | 18 years | 65 years |
Maturity age | - | 75 years |
Policy Term | 10 years | 20 years |
Sum insured | Rs 10 Lakh | Rs 40 Lakh |
Premium Paying Frequency | Annually, Monthly, Semi- annually and Quarterly |
HDFC Life Cancer Care policy is an insurance plan which is specially designed to offer coverage against the dreadful disease Cancer. The benefits offered under HDFC Life Cancer Care plan are as follows:
Lump-sum benefit and Flexibility of Usage -This insurance plan pays the sum assured under the plan to the policyholder upon diagnosis of any early or major stage cancer during the term of the plan. The sum assured is paid as a lump-sum benefit and is flexible to be used for any purpose. If the insured is the breadwinner of the family, the amount received as lump-sum can be used for the family to meet the daily expenses as well.
Death Benefit– There is no death benefit provided under the plan. The plan particularly aims to aid the treatment cost and the expenses in order to survive the dreaded disease like Cancer. Hence the benefit under the plan is paid on diagnosis of the early or major stage of cancer and not on death of the insured.
Maturity Benefit- There is no maturity benefit provided under this plan. The policy will lapse if the insured individual is not diagnosed with early or major stage of cancer during the term of the policy and no benefit will be paid.
Premium Guarantee– Premium guaranteed is offered under this plan as the premium amount for the plan will remain unchanged for three years of the policy from the date of the issue of the policy. Only after the expiry of three years from the date of issue of the plan the premiums rates can be revised.
Discounts– This plan also offers discounts to the policyholder in the form of lower rates of premiums for the plan for incremental sum assured under the plan over and above Rs 10 Lakh. This plan can also be brought online and a discount of 5.5% is offered on the amount of premium if you buy the plan online directly.
Grace Period– A grace period of 30 days is offered to the policyholder to pay all the due premiums of the plan for annually, quarterly and half yearly premium paying frequency mode. For monthly premium paying frequency mode, the grace period is 15 days. Upon expiry of the said period the policy will lapse if the policyholder does not pay the due premiums of the plan. The insurance cover will cease and the insurance company will not pay any benefit in case of lapsed insurance policy.
Renewal of Lapsed Policy– The policyholders have a benefit to renew their lapsed insurance policy within a period of two years from the date of first unpaid premium of the plan. All the premiums that are outstanding should be paid along with interest within the said two years period to restate the plan.
Free Look Period– If you are not satisfied with the insurance plan, then you have an option to cancel the plan within 15 days of its inception with reasons thereof for the cancellation of the plan. The insurance company will refund the premium amount of the plan after deducting the expenses incurred by it.
While striving to meet your goals towards your career and dreams, it is very important to buy a cancer insurance policy to take care of financial security at the time of emergencies. To ensure financial support and security to you and your family against this giant disease, Cancer, you should buy HDFC Life Cancer Care plan. This plan provide complete financial support and security to the holder of the plan against the disease of cancer to help you to receive proper treatment without worrying about the high expenses by paying a lump-sum amount immediately on diagnosis of cancer. The plan also provides flexibility as the lump sum benefit can be used by the insured individual for any purpose in addition or apart from the treatment of cancer. Since cancer has become quite common and the incidence has increased, it is better to be financially prepared against it. The plan lets you be financially prepared and is recommended.