Life Insurance - Kotak Life Insurance Company in India
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Close

Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Kotak e-Term Plan

Why Should You Opt for Cancer Insurance?

A cancer protection plan is a sort of medical policy that provides you with cover against cancer risks. Read on to know the benefits of cancer insurance.

  • Nov 22, 2021
  • 434 Views

Why Should You Opt for Cancer Insurance?

A life-threatening condition like cancer, formerly thought to be an uncommon sickness, has sadly become more frequent than you would like. According to a 2018 report by the International Agency for Research on Cancer (IARC), there were 17 million new cancer cases that year. This number is anticipated to rise to a staggering 27.5 million by 2040. With a disease that is so terrible and vicious that it strikes people in the most unexpected ways, it is critical to get your hands on a cancer insurance plan to be prepared for the worst.

The journey from being diagnosed with cancer to receiving treatment is distressing for the patient, and the added burden of high medical costs weighs heavily on their loved ones. As a result, it is of utmost significance to recognise the importance of cancer health insurance in present times.

What is a Cancer Policy?

A cancer protection plan is a sort of medical policy that provides you with cover against cancer risks.Such a health plan covers cancer treatment costs, other medical bills like hospitalisation costs, medicine bills, etc., preventing you from draining all your precious resources and allowing you to maintain financial stability.

Benefits of Investing in a Cancer Cover Policy

Cancer health insurance is among the must-have plans because it has several advantages, as listed below.

  • Affordable Plan
  • Compared to conventional health insurance, one of the key benefits of a cancer insurance plan is its affordability.

  • Income Replacement
  • If you are treated for cancer, there are high chances that you cannot return to work and fulfil your professional responsibility, resulting in the loss of your monthly earnings. Some insurance companies offer financial benefits as part of their insurance for cancer patients to substitute for this loss. With this, you get a proportion of the money guaranteed which serves as a consistent source of income to help you fulfil your financial obligations.

  • Easy Availability of Cancer Insurance Plan
  • Cancer insurance is accessible online and in the traditional offline format, making it readily accessible to everyone while providing many alternatives to compare and select from.

  • Coverage for All Types of Cancers
  • A cancer policy covers almost all types of cancers equally, and any sort of cancer sickness apart from skin cancer is covered under a cancer cover policy.

  • Lump Sum Advantage
  • Insurance for cancer patients is a blessing in disguise. Once you are diagnosed with terminal cancer, it provides you with peace of mind about financial stability through a lump sum payment. This single payment value is a set amount that is a proportion of the sum covered and assists in covering any financial responsibilities that may arise at such a time.

  • The Premium Waiver Rider
  • The premium exemption is a one-of-a-kind feature that may not be accessible with all policies. If you choose this rider, you will be able to enjoy the advantage of having your premiums waived for a length of time indicated in the cancer protection plan.

  • Tax Benefits
  • If you get cancer health insurance, you could be eligible for a tax benefit of up to Rs.25,000 as per Section 80D of the Income Tax Act, 1961.

The Ideal Cancer Insurance Cover

Cancer is a serious condition, and chemotherapy, one of the most commonly recommended solutions, is exceedingly costly. Though there is no specific amount that anyone and everyone looking for a cancer policy should opt for, you should keep in consideration your condition, the cancer stage at which you are, and the expenses you will bear. As a result, when purchasing a cancer insurance policy, be sure that the coverage level is sufficient to cover the entire cancer treatment and other medical expenditures.

A cancer diagnosis is undoubtedly concerning, and the cost of treatment is nothing short of a nightmare. Therefore, acquiring a cancer policy is a substantial help that prevents financial hardship. Conduct a thorough analysis of the different options available to you and make a prudent decision to secure your financial security.

Kotak e-Term Plan

Download Brochure

Features

  • Nominal Cost
  • Multiple Plan Options
  • Flexible Payout Options
  • Critical Illness Rider
  • Tax Savings
  • Long term Coverage

Ref. No. KLI/22-23/E-BB/492

T&C

- A Consumer Education Initiative series by Kotak Life

Similar Articles

6 Common Myths about Health Insurance

What Does Health Insurance Not Cover?

What is Single Premium in Health Insurance?

How to Transfer Your Health Insurance Cover Without Losing Benefits?

Everything You Need to Know About the Ayushman Bharat Health Insurance Scheme

What Medical Expenses Can You Claim in Health Insurance Plans?

Which One is Better: Mediclaim or Health Insurance?

Why You Must Disclose Your Pre-Existing Conditions While Buying Health Insurance?

Factors to Consider While Choosing a Health Insurance Plan for Your Parents

10 Preventative Measures for Diabetes

A Millennial’s Guide to Buying Health Insurance

Health Insurance Plans for a Pre Existing Condition

5 Reasons to Own Both Health Insurance and Term Insurance

Which Health Insurance Plans Cover Your Family Members?

The Importance of a Health Insurance Claim Ratio

Does Critical Illness Insurance Cover Stroke?

Heart and Cancer Insurance

Health Insurance Coverage for HIV Patients

Is Cataract Surgery Covered under Health Insurance in India?

What is Telemedicine? How to Seek Medical Treatment Remotely?

Saving Tax on Your Health Insurance

What is Disability Insurance?

How is Health Insurance Cost Calculated?

What is the Difference Between a Mediclaim Policy, Health Insurance and Term Insurance?

Health Insurance Plan for Heart – What you Should Know on Symptoms and Diagnosis of Heart-Related Disease?

What is the Right Age to Buy Health Insurance Policy?

10 Effects of Fast Food on Your Body

5 things to consider while renewing a health insurance policy

Benefits of Health Insurance You May Not Know About

What are the Documents Required for Buying a Health Insurance Plan?

What is International Health Insurance? Meaning, Importance and Benefits

Health Insurance for Students Who Study Abroad

All You Need To Know About No-Claim Bonus In Health Insurance

Why You Must Review Your Health Insurance Policy/ Plan Every Year?

Tips to Reduce Your Health Insurance Premium

List of Critical Illnesses Covered in Health and Life Insurance Plans

How Much Health Insurance Cover Should You Opt For?

Choosing Health Insurance for Senior Citizens

Types of Health Insurance You Must Know About

Health Insurance Coverage: Day Care Treatment Vs OPD Treatment

What Is the Restoration Benefit in Health Insurance?

How do I Choose a good Health Insurance Plan?

What do Health Insurance Plans Cover?

Critical Illness Can Disrupt Family's Financial Goals and How Health Insurance Can be Useful

Critical Illness Insurance for Alzheimer's Disease

Health Insurance for Brain Tumour: What You Should Know on Symptoms & Diagnosis of Brain Tumour

7 Things to Audit in Your Health Insurance Plan

What is the Persistency Ratio and Why Does it Matter to the Health Insurance Sector?

How to Buy ₹1 Crore Life Insurance Policy Without Medical Test?

Health Insurance for Liver: What You Should Know About the Symptoms and Diagnosis of Liver Problems

Health Insurance for Personal Accidents

Difference Between Open Heart and Bypass Surgery

Why is Cardiac Care Plan a boon for Heart Patients?

Top Five Institutes for Free Cancer Treatments in India

Key Factors that Decide Your Eligibility for Buying Health Insurance Plans

Steps to Appeal A Health Insurance Claim Denial

How to Choose a Right Health Insurance Plan?

How Much Of Health Insurance Is Tax Deductible?

Rashtriya Swasthya Bima Yojana: Eligibility, Coverage, Benefits

Everything You Need to Know About Accidental Insurance Policy

Stress and Heart Health: 4 Things You Should Know

5 Reasons to Buy Health Insurance in 2021

Buying Health Insurance with A Pre-Existing Illness? Things You Should Know

What is Health Insurance and Why do You Need it?

How Is Your Health Insurance Premium Affected By Age?

How to File Health Insurance Claims?

Guide on Fraudulent Health Insurance Claims in India

Do Add-On For Health Insurance Policies Really Add Value?

Why You Must Review Your Health Insurance Plan Every Year

How to Claim Tax Benefits on Medical Insurance Premium?

How Much Should I be Paying for Health Insurance?

How To Choose A Good Health Insurance Plan?

Why Opting for Short Term Health Insurance Plans is a Wise Idea?

How to Switch to A Different Health Insurance Company?

What are Health Insurance Premiums? How are they Calculated?

Is Health Insurance Non-taxable?

Why You Must Disclose Your Pre-Existing Conditions When You Buy Health Insurance

What Is the Restoration Benefit in Health Insurance Plan?

Healthy Habits to Avoid Falling Sick During Monsoon

What is OPD Cover in Health Insurance?

Basics of Health Insurance

Section 80D: Everything You Need to About Income Tax Deduction for Medical Expenditure

Health Insurance Plan for Family

Key Difference between Health Insurance and Mediclaim Policy

How Your Eating Habits Affect Your Health & How to Change Them

Are You Covered for the Home Treatment Cost Under Your Health Insurance Policy?

Health Insurance Plan for Cancer: What You Should Know on Symptoms and Diagnosis of Cancer

5 Reasons to Consider Investing in Health Care

How wellness benefits can help reduce your health insurance premium

7 Reason Why Should You Buy a Health Insurance Plan in Your 20s?

Why You Need to Know About the Critical Illness Plan?

Why Your Health Insurance Cover Could be Insufficient?

Protect Your Family with Health Insurance Today

Why do Patients with Hypertension Need Health Insurance?

Health Insurance with or Without Medical Tests? Which is Better

Is Health Insurance the Same as Medical Insurance?

Things to keep in mind before buying a health insurance plan for diabetics

Tax Benefits on Health Insurance Plans

Seven Preventive Measures for Heart Related Illness