1. Entry Age – 20 years to 65 years
2. Policy Term – 10 years to 30 years
3. Age at Maturity – 50 years to 75 years
4. Sum Assured – Rs. 10,00,000 to Rs. 50,00,000 (in multiples of Rs. 1,00,000). There are two options here -
Level Sum Insured: The Sum Insured amount shall remain the same throughout the policy term.
Increasing Sum Insured: The Sum Insured amount increases by 10% of Basic Sum Insured each year for first five years starting from the first policy anniversary or until the diagnosis of cancer, whichever is earlier.
5. Premium payment – Yearly or half yearly.
6. The policy can be purchased online.
7. There is a waiting period of 6 months from the time of purchase/revival of policy.
Option – Level Sum Assured
Premium for a 30 year old male with a sum assured amount of Rs. 10,00,000 – Rs. 1,690
Premium for a 30 year old female with a sum assured amount of Rs. 10,00,000 – Rs. 3,090
Option – Increasing Sum Assured
Premium for a 30 year old male with a sum assured amount of Rs. 10,00,000 – Rs. 2,320
Premium for a 30 year old female with a sum assured amount of Rs. 10,00,000 – Rs. 4,360
- Lump sum payments - For early stage cancer diagnosis, 25% of sum assured would be paid immediately. For major stage cancer, 100% of sum assured would be paid.
- Premium Waiver - For early stage cancer, the premium for first 3 years would be waived. For major stage cancer, all future premiums would be waived.
- Income - For major stage cancer, 1% of policy amount would be paid for 10 years on a monthly basis.
- Tax Benefits - One can claim tax deduction under Sec 80D.
- There is no surrender value.
- One cannot take a loan based on this policy.
- For early stage cancer, the following health conditions are excluded -
- All tumours that are benign, borderline malignant, or of low malignant potential
- Dysplasia, intra-epithelial neoplasia or squamous intra-epithelial lesions
- Carcinoma in-situ and Melanoma in-situ
- Tumours in the presence of HIV infection
- For major stage cancer, the following are excluded -
- All tumours that are carcinoma in situ, benign, premalignant, borderline malignant, low malignant potential
- Carcinoma in situ of breasts
- Cervical dysplasia CIN-1, CIN -2 and CIN-3.
- Any non-melanoma skin carcinoma unless there is evidence of metastases to lymph
- nodes or beyond.
- Malignant melanoma that has not caused invasion beyond the epidermis;
- Tumours of the prostate unless classified with a Gleason score greater than 6 or having progressed to at least clinical TNM classification T2N0M0.
- Thyroid cancers histologically classified as T1N0M0 (TNM Classification) or below.
- Chronic lymphocytic leukaemia less than RAI stage 3.
- Non-invasive papillary cancer of the bladder.
- Gastrointestinal Tumours.
- All tumours in the presence of HIV infection.
If you have a history of cancer in your family and your lifestyle indicates that you can get cancer, it is good to go with this plan. But if you already have a comprehensive insurance policy that covers critical illnesses, you need not buy this product. You should compare it with other cancer care products before deciding to buy this one.