Health Insurance 720 views March 1, 2021

Cancer is a health issue that can not only damage you physically but financially as well. According to news reports, the cost of cancer treatment has increased 3-4 times since 2000. Currently, the cost of cancer treatment is as follows – INR 4.6 lakh for Lung Cancer, INR 4.3 Lakh for Oral Cavity Cancer, INR 5 Lakh for Cervix Cancer, INR 5 Lakh for Colorectal Cancer and INR 6 Lakh for Breast Cancer. These are approximate figures.

The expenses seem massive, but there are two insurance plans –  Cancer Care Plan and Critical Illness Plan – that can protect your finances in such a situation. Using these insurance policies, you can cover your hospitalization expenses for cancer treatment if you are diagnosed with it. But which one should you choose? For this, you need to compare Cancer Care Plans vs Critical Illness Plans. But before that, have a brief of these two cancer cover plans. We will tell you all these in this post. Let’s begin!

Health Insurance

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Cancer Care Plans

A cancer care insurance plan will provide you financial coverage against all stages of cancer. The cancer care insurance plans cover cancer stages like Early Stage Cancer or Carcinoma-in-Situ (CiS), Major Stage Cancer and Advance Stage Cancer. These plans are designed to cover your medical expenses related to cancer treatment/surgeries.

Critical Illness Plans

Under a critical illness insurance plan, a cancer of specified severity shall be covered up to the sum assured plus you will get coverage for other critical illnesses such as the first heart attack – of specified severity, heart valve surgery, surgery to the aorta, cardiomyopathy, etc.

Compare Cancer Care vs Critical Illness Based on the Sum Assured

A sum assured is the total life coverage amount that the insured has in his/her insurance plan. So, in case a cancer risk arises, the company will pay you the policy sum assured in case of hospitalization. Let’s check out some of the cancer care and critical illness plan sum assured options.

Insurance CompanyType of Insurance PlanPolicy NameSum Insured (In INR)
Max LifeCancer CareMax Life Cancer Insurance Plan

  1. 10 Lakh

  2. 15 Lakh

  3. 20 Lakh

  4. 25 Lakh

  5. 30 Lakh

  6. 35 Lakh

  7. 40 Lakh

  8. 45 Lakh

  9. 50 Lakh

SBI LifeCancer CareSBI Sampoorn Cancer Suraksha10 Lakh to INR 50 Lakh
ICICI Prudential LifeCritical IllnessICICI Pru iProtect SmartUp to 1 Crore
Edelweiss TokioCritical IllnessEdelweiss Tokio CritiCare+5 Lakh to 5 Crore
Aditya Birla Sun LifeCancer CareAditya Birla Sun Life Cancer Shield Plan10 Lakh to 50 Lakh
ICICI Prudential LifeCancer CareICICI Pru Heart/Cancer Protect Plan2 Lakh to 50 Lakh
ManipalCignaCritical IllnessManipalCigna Lifestyle Protection Critical Care Plan1 Lakh to 25 Crore

Compare Cancer Care vs Critical Illness Basis Premium Payments

You can choose between cancer care vs critical illness plans by comparing their premium offers. Because an insurance plan will be suitable for your cancer cover only if it provides a large sum assured at an affordable premium payment. Check out the premium payment offers of top cancer care plans and critical illness plans.

Cancer Care PlanPremium Amount (In INR)Critical Illness PlanPremium Amount (In INR)
Max Life Cancer Insurance Plan

  1. For offline purchases - A minimum of 1,960 and a maximum of 1,49,750 per

  2. For online purchases, the minimum premium amount is 1,700 and the maximum is 1,23,850 per annum

ICICI Pru iProtect SmartMinimum - 2,400
Aegon Life iCancer Insurance PlanAs specified by the insurerEdelweiss Tokio CritiCare+Minimum - 2,000
HDFC Life Cancer Care1,411 for male aged 35 years for a policy term of 10 years under Silver optionManipalCigna Lifestyle Protection Critical Care PlanAs specified by the insurer
SBI Sampoorn Cancer SurakshaThe minimum premium amount is as follows:-
Yearly - 600

  1. Half-Yearly - 300

  2. Quarterly - 150

  3. Monthly - 50

The maximum premium based on the sum assured
Aditya Birla Sun Life Cancer Shield Plan1,950 - 14,825 for a male aged 35 years with a policy sum assured of 25 lakhHDFC Life Critical Illness Plus RiderAs specified by the insurer
ICICI Pru Heart/Cancer Protect PlanAs specified by the insurerBharti AXA Life Triple Health Insurance Plan2,440 per annum for a 30- year old male opting for a Sum Assured of INR 5,00,000

Compare the Benefits of Cancer Care vs Critical Illness Plans

After knowing about the cancer care and critical illness sum assured and premium amount, let’s check when the following benefits will be paid under these two plans.

BenefitsCancer CareCritical Illness
Lump Sum Payment of the Sum Assured

  1. Upon the death of the life assured due to cancer

  2. Major stage cancer diagnosis

Upon the diagnosis of any of the covered critical illnesses.
Survival PeriodNot AvailableThe survival period is 30 days from the date of diagnosis of Critical Illness
Waiver of PremiumWhen cancer is diagnosed to the insured, all future premiums shall be waived and the policy will continue.Not Available
Tax Benefits Under Section 80DAvailableAvailable

Note – Treatment expenses of cancer are sourced from Economic Times

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