Health Insurance 182 views June 1, 2021

Raheja QBE Cancer Insurance Policy

Raheja QBE Cancer Insurance Policy provides a lump sum amount for the treatment of cancer and helps an individual lead a normal life after recovering from the disease. This policy from Raheja QBE keeps your finances intact by offering comprehensive coverage for all stages of cancer.

We are showing the key features of the Raheja QBE Cancer Insurance Policy mentioned below to have an idea about the same.

  1. Coverage against diagnostic investigation or medical treatment of Cancer
  2. Multiple sum insured options
  3. Lump sum payment on acceptance of the claim
  4. A 15-day free look period
  5. No pre-acceptance medical screening for people less than 50 years
  6. Tax benefits under Section 80D of the Income Tax Act, 1961

Now you would want to know these features in detail. On this page, we will also talk about its eligibility criteria so that you can understand better. Let’s start!

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Key Features and Benefits of Raheja QBE Cancer Insurance Policy in Detail

Raheja QBE Cancer Insurance Policy can be suitable for individuals diagnosed with cancer as it covers the high cost involved in its treatment. We are showing its features and benefits below. Please check!

Flexible Sum Insured

Raheja QBE Cancer Insurance Policy offers multiple sum insured options from which policyholders can choose according to their affordability. It ranges from INR 1 lakh and can be increased up to INR 10 lakh (in the multiples of INR 1 lakh).

Coverage Against Cancer Treatment and Diagnosis

During the policy tenure, if an insured person is diagnosed with cancer and it requires diagnostic investigation or treatment by a duly qualified medical practitioner, the Cancer Insurance policy will provide the following benefits.

  1. Policyholders will get 50% of the sum insured or INR 2,50,000 (whichever is less) as a lump sum amount on the acceptance of a claim under the policy.
  2. The policy will pay reasonable charges for medical expenses (incurred on the diagnostic investigation or medical treatment on the advice of a medical practitioner of Cancer) more than 75% of the benefit amount.

Reimbursements of medical expenses under the Cancer Insurance policy will depend on the submission of original bills only unless the insured person has already submitted a claim.

Note: If an insured person is diagnosed with cancer and reports a claim during the policy period, he/she can continue to get benefits under the policy (up to the sum insured limit) even after the expiry of the policy for up to 5 years from its beginning.

Cumulative Bonus

This Cancer insurance policy from Raheja QBE also provides a cumulative bonus if an insured person hasn’t made any claim during the policy period. With this facility, the insurer will increase the sum insured by 5% for the immediate following policy term, up to 25% of the sum insured. Also, if an individual does not renew the policy within a 30-day grace period, the earned cumulative bonus will be lost.

No Pre-acceptance Medical Tests

Individuals less than 50 years of age will not need to undergo pre-acceptance medical tests. They only need to provide self-declaration as well as certification of good health by a registered medical practitioner. On the other hand, policyholders above the age of 50 years will be accepted for coverage after medical examination.

Some of these medical examinations are Clinical Examination, Prostate-Specific Antigen Test, CBC, Chest X-ray, Mammogram, Stool Examination, Complete Blood Count, etc. Raheja QBE will also provide reimbursement towards pre-policy medical examination costs up to 50% of the actual expenses.

What is the Premium Amount of Raheja QBE Cancer Insurance Policy?

The premium amount will depend on the entry age of the insured person. To know more about the premium amount, please check the below table.

Age of Individual (in years)Premium for every INR 1 lakh of sum insured (in INR) including taxes
Less than 25102
25-29127
30-34179
35-39306
40-44561
45-491,070
50-541,731
55-592,648
60-644,074
65-707,130
71-747,488
75 onwards (only renewal)7,844

Raheja QBE Cancer Insurance Policy Eligibility Criteria

Any individual in the age group between 1 day to 70 years can purchase this Cancer Policy from Raheja QBE Insurance.

What is Not Covered Under Raheja QBE Cancer Insurance Policy

Policyholders will not get coverage in any of the following situations.

  1. Any injury, disease or illness directly or indirectly caused or contributed by nuclear weapons, or caused contact of the insured person with radiation or radioactivity from any source whatsoever from non-diagnostic or therapeutic source
  2. Any cancer or cancer-related condition(s) which is a pre-existing disease for which the insured had signs or symptoms and was diagnosed and received medical advice/treatment( within 48 months before his/her first policy with Raheja QBE)
  3. Any representations based on which this policy is issued is discovered to be fraudulent or incorrect or if any fraudulent means or devices are adopted any time in making any claim under or in respect of this Policy
  4. Any claim where the diagnostic investigation does not reveal the positive existence or presence of Cancer
  5. Any costs incurred on Ayush treatments

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