True care: India gets health insurance scheme for cancer-carriers
Health insurance covers in India may get more subscribers as the healthcare companies step up to include more diseases in their health cover. Healthcare companies, earlier, were infamous for the array of exclusions. But they are now seeing more diseases in their cover plans.
As the incidence of cancer is increasing in India, the insurance providers are tailoring cancer-specific insurance plans. What could be more relieving than a plan that can be bought for patients who are already diagnosed with cancer.
Till now the health insurance was made available to those who have not been diagnosed with pre-existing illnesses. Even people who acquired life-threatening diseases were uncertain about their future. It is time to realize that people who suffer from life-threatening conditions are the ones who genuinely need medical and financial assistance in the years ahead.
Cancer cover Plan
The standalone health insurance company by Star Health and Allied Insurance launched Star Cancer Care Gold on Oct 24. It is a health insurance plan for persons who are already diagnosed with cancer.
More about this plan can be learnt here:
- The cover provides up to Rs 5 lakh to anyone who have already been diagnosed with stage 1 and 2 of cancer disease.
- The insurance can be bought for a person aged between 5 months and 65 years.
- The plan covers the risk of recurrence, spread of cancer (metastasis) and second cancer (second malignancy).
- The policy can be bought without prior medical screening.
- Others insurance companies, including the country’s largest general insurer New India Assurance, Bajaj Allianz General Insurance, Max Bupa Health Insurance, have also launched products that will cover for the existing ailments.
However the re-pricing of products is being done in the corporate and retail health segments. The premiums are going up by 20-25 percent for retail customers as new features are being added.
Other exclusions being covered
Bajaj Allianz recently launched a super-top up plan ‘Extra Care Plus’ that covers maternity expenses and pre-existing diseases after a waiting period of just 12 months.
After maternity,dental expenses are now being made part of the product features.
Earlier, heart and kidney ailments apart from cancer were one of the most common exclusions in health insurance products. However, companies are beginning to cover these ailments at special rates now.