HDFC Life Cancer Care
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| Launch Date | UIN | Status |
| 9/12/2016 | 101N106V02 | Active |
About HDFC Life Cancer Care
The HDFC Life Cancer Care plan is an insurance plan that offers lump sum payments on detection of early and major cancer. The plan also offers a regular income option with the Platinum option of the plan and has two more options (Gold and Silver), which offer various benefits such as waiving of premiums, increase of sum insured if claims are not made, and more.
Let’s understand this plan in brief before getting into the details:
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Modes of Payment |
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Claim Settlement Ratio of the Insurer |
97.62% |
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USPs of the Policy |
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Illustration |
Age: 30 years Annual premium for the Silver option: INR 4,412 Annual premium for the Gold option: INR 7,967 Annual premium for the Platinum option: INR 11,542 |
How does this Plan work?
Firstly, an individual is required to choose a plan option (that is, Silver, Gold, or Platinum) and a policy term from between 10 and 55 years. The minimum sum assured that can be selected is INR 10 lakhs and the maximum is INR 50 lakhs. The plan has no death benefit and the insured is payable only on diagnosis of the type of cancer mentioned by the company.
The options offer the following benefits:
| Benefits Offered | Silver Option | Gold Option | Platinum Option |
| Diagnosis of early stage cancer or Carcinoma-in-situ (CIS) | 25% of applicable sum insured is paid | 25% of applicable sum insured is paid | 25% of applicable sum insured is paid |
| Diagnosis of major stage cancer | 100% of sum insured or remaining sum insured after deducting the early stage claims | 100% of sum insured or remaining sum insured after deducting the early stage claims | 100% of sum insured or remaining sum insured after deducting the early stage claims |
| Premium waived off | It is waived off for next 3 policy years | It is waived off for next 3 policy years | It is waived off for next 3 policy years |
| Increased Benefit | -- | 10% of initial sum insured till it becomes 200% or any claim is made | 10% of initial sum insured till it becomes 200% or any claim is made |
| Income Benefit | -- | -- | A monthly income equivalent to 1% of applicable sum insured is paid on diagnosis of the listed major cancers for a fixed period of next 5 policy years, including payments of fixed sum insured. |
Why should you buy HDFC Life Cancer Care plan?
In addition to the benefits mentioned earlier, here are some more reasons to consider buying the HDFC Life Cancer Care plan:
· The plan offers high coverage amounts for low premiums
· The plan has three options with varying benefits to choose from
· The plan has a waiting period of only 180 days from the date of purchase of the policy
· It has only 7 days of survival period between diagnosis of the condition and date of eligibility for a benefit payment
COMPARE & BUY SIMILAR PLANS
Who should buy HDFC Life Cancer Care plan?
The plan can be purchased by citizens of India with a minimum age of 18 and maximum age of 65. The plan is perfect for individuals wishing to secure their finances against cancer, which is a major disease that can easily bankrupt even well-to-do Indians.
Company Overview
HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.HDFC Ltd. holds 70.65% and Standard Life (Mauritius Holding) 2006 Ltd. holds 26.00% of the equity in the joint venture while the rest is held by others
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