The cost incurred to treat cancer can range anywhere from Rs. 20 lakhs to Rs. 50 lakhs. To help ease this burden, Apollo Munich Health Insurance has introduced iCan Cancer Insurance. The policy takes care of the financial burden that a policyholder will have to shoulder in the event he or she is diagnosed with cancer. iCan Cancer Insurance offers high sum insured options and can be availed at affordable premiums.
(Note - All the information in this article has been sourced from the official website of Apollo Munich Health Insurance.)
Please Note: Apollo Munich Health Insurance is now HDFC ERGO Health Insurance (formerly Apollo Munich Health Insurance)
The Features Of Apollo Munich iCan Cancer Insurance Policy Are As Follows:
No Pre-policy Medical Check-up: There is no need for an individual to undergo a medical check-up for sum insured up till Rs. 20 lakhs and age up to 55 years.
Cashless Cancer Treatment: The policy allows for cashless cancer treatment at 4500+ network hospitals. Additionally, it provides hassle-free reimbursement of treatment costs.
Lifelong Coverage for Cancer Treatment: iCan will cover an individual’s treatment expenses lifelong, irrespective of his or her health status or claims.
Follow up Care Post Treatment: Expenses incurred on medical examination is covered up to a specific limit after cancer treatment has been discontinued, on the basis of the recommendation of Medical Practitioner for at least six months with “No evidence of disease”.
Pre-Post Hospitalization: Pre-hospitalization expenses incurred in the 30 days prior to the date of admission in the hospital are covered. Post- hospitalization expenses incurred 60 days after policyholder is discharged from the hospital are covered.
The Benefits Of Apollo Munich iCan Cancer Insurance Policy Are As Follows:
Emergency Ambulance Care: The expenses incurred on transporting an insured to a hospital is covered up to a specific limit.
Conventional and Advanced Treatments: Under conventional treatments, chemotherapy, radiotherapy and organ transplantation are covered. Advanced treatments (optional benefit) covers proton beam therapy and immunotherapy, among others.
Life-long renewal: iCan provides the option of life-long renewal, irrespective of the policyholder’s health status or claims.
CritiCare Benefit: When a health insurance policy policyholder is diagnosed with cancer of specified severity, he or she would get a 60% lump sum pay-out of the coverage amount, over and above the base sum insured.
FamilyCare Benefit: The insured individual can ensure his or her family stays protected with a 100% lump sum payment of the coverage amount, on diagnosis of stage IV cancer, or recurrence of cancer.
Tax Benefits: The premium paid for Apollo Munich iCan Cancer Insurance qualifies for deduction under Section 80D of the Income Tax Act, 1961. It must be noted that income tax rules are subject to change.
Standard Plan: Under this, medical expenses for hospitalization (inpatient and day-care) and outpatient treatment taken for cancer are covered. The policy covers conventional treatment, chemotherapy, radiotherapy, organ transplantation (as part of cancer treatment) and surgeries for excision of cancerous tissue or removal of organs/ tissues (onco-surgery).
Pre-hospitalization expenses incurred in the 30 days prior to being admitted in the hospital are covered. Additionally, post-hospitalization expenses incurred 60 days after the individual is discharged from the hospital are covered. The insurance company covers expenses incurred on transporting the insured to a hospital in the event of an emergency, up to Rs. 2,000 per hospitalization. Follow up care post treatment is also covered by Apollo Munich. Here, the costs associated with medical examination of up to Rs. 3,000 twice a year after the cancer treatment has been discontinued, on the basis of recommendation of Medical Practitioner for at least 6 months with “No evidence of disease” are covered.
Advanced Plan (Optional benefit): Besides the coverage under Standard plan, the below advanced treatments would also be covered -
The exclusions of Apollo Munich iCan Cancer Insurance Policy are as follows:
Treatment for conditions other than cancer
Pre-existing condition for cancer for which the policyholder had existing symptoms, and/or was diagnosed, and/ or received consultation, investigation, treatment or admission any time before the insurance cover was issued
AIDS and/or infection with HIV including, but not limited to, conditions related to or arising out of HIV/AIDS like AIDS Related Complex, Lymphomas in brain, Kaposi’s sarcoma, tuberculosis
Non-Allopathic treatment
Prosthetic and other devices that are self-detachable /removable without surgery involving anaesthesia
Treatment outside India or at a healthcare facility which is not a hospital
Congenital external diseases, defects or anomalies
Since iCan is a dedicated cancer insurance product, it is better suited to meet the financial requirements that would arise in the event a policyholder is diagnosed with the disease. Additionally, it is more affordable as compared to a health policy. The premiums of both types of insurance products are as follows:
| Sum insured | Annual premium of a regular health insurance plan | Annual premium of iCan |
|---|---|---|
| Rs. 20 lakhs | Rs. 15,488 | Rs. 1,251 |
| Rs. 25 lakhs | Rs. 16,808 | Rs. 1,281 |
| Rs. 50 lakhs | Rs. 21,611 | Rs. 2,114 |
Individuals who want to apply for Apollo Munich iCan Cancer Insurance Policy have to meet the following eligibility criteria:
Documents Required to Buy Apollo Munich iCan Cancer Insurance Policy
An individual will have to submit certain documents to avail Apollo Munich iCan Cancer Insurance Policy. The documents include:
Easy Procedure to Renew Apollo Munich iCan Cancer Insurance Policy
This policy provides lifelong coverage and comes with an annual renewal policy year-after-year, even after a claim. Individuals can renew their cover on the website of the insurance company or by visiting one of the company’s branches. Under the online mode, an individual will need to enter his or her policy number on the website of the insurance company and then proceed to make the payment.
To file a claim on iCan Cancer Insurance Policy, the insurance company must be informed beforehand about the hospitalization (planned). For cashless service, the insurance company must be notified at least 48 hours before the planned treatment or hospitalisation. In case of emergencies, the insurance company can be intimated within 24 hours after the treatment or hospitalisation.
Intimation of Claim:The insurance company must be informed of any event or occurrence that might lead to a claim. The intimation should be made as follows:
Documents Required to Claim Apollo Munich iCan Cancer Insurance Policy
The documents necessary for making a claim on Apollo Munich iCan Cancer Insurance Policy include:
Apollo Munich iCan Cancer Insurance Policy is a cancer-specific insurance plan that can be availed at affordable rates. The policy comes with flexible options that ensure that people with varying insurance needs are satisfied. Also, when one factors in the huge costs associated with cancer treatment, this is one of the must-have insurance policies that provide much-needed financial security to individuals and their families.
"With alarming increase in cancer cases, I decided to get iCan Cancer Insurance Policy. I've taken adequate coverage at very low rates." - Priyanka Shinde, Pune "I bought iCan plan after I saw how useful it was for my friend when his father was diagnosed with cancer. He told me the payout was made on time, without any kind of hassles." - Rahul Singh, Mumbai
With more and more reports of cancer being reported every year, it has become necessary to safeguard oneself from the financial expenses associated with treating this disease. iCan covers the various medical expenses incurred for cancer treatment. It covers everything from diagnosis to follow-up care post treatment.
An individual can reduce his or her risk of getting cancer by making certain lifestyle changes, such as eating the right food, maintaining a healthy weight, getting regular medical care, refraining from using tobacco, etc.
Cancer insurance policies cover the costs associated with chemotherapy
Yes. There are certain insurance policies that can be availed by persons who have already been diagnosed with cancer. However, in case of iCan Cancer Insurance, those who are cancer patients or have previously had cancer are not eligible to buy the cover.
