The demand for cancer care insurance policy in India is in rise and there is a valid point too. Recently Birla SunLife Insurance has launched a new plan called BSLI Cancer Shield Plan to provide special benefit to secure your financials to fight with the deadly disease Cancer. The tagline they shared is life shouldn’t stop for cancer, which is 100% true and they are right now highest Sum Assured cancer insurance in India.
In this article I will share all the key features of BSLI Cancer Shield Plan and also explain how one can use the benefits to get assisted in tough time of life. This plan will cover Early Stage of Cancer and Major Stage of Cancer as well.
Key Features of Birla Sunlife Cancer Shield Plan
This plan is designed such a way that one can get benefit of treating cancer from the early stage itself. Here are few key highlights of this policy.
- Generally cancer care plans cover only advance stage level of expenses only, but this plan covers all stages of cancer i.e. early stage of cancer and major stage of cancer. On diagnosis of Early Stage of Cancer, 30% of the Sum Assured on Illness will be paid.
- You can choose from 2 Option for cancer cover. One is level cover and other is increasing cover where your cancer care benefit will increase every year as per terms.
- In case of diagnosis of Major Stage of Cancer, one can choose option to receive monthly income for 5 policy years. At the Major Stage of Cancer, 100% of the Sum Assured on Illness less any previously paid claim for Early Stage of Cancer under the policy will be paid.
- Not only that, in case of diagnosis of Early Stage of Cancer there is a waiver of premium for 5 years.
- Tax Benefits as per Section 80D of the Income Tax Act, 1961 as per current tax laws
- This policy is only cover cancer treatment, don’t think that this will work as a health insurance policy for your other problems also.
- There will be no maturity benefit, survival benefit, surrender value, loan facility for this policy.
- There are couple of exclusions like pre-existing illness or few more you should read before availing this policy.
- You can buy this plan online also.
Eligibility Criteria Birla Sunlife Cancer Shield Plan
|Entry Age||18 – 65 Years|
|Maturity Age or Cover Ceasing Age||75 Years|
|Policy Term||Minimum – 5 Years
Maximum – 20 Years
|Premium Paying Term||Regular Pay|
|Premium Paying Mode||Annual | Semi-Annual | Quarterly | Monthly|
|Sum Assured||Minimum – Rs.10 Lakhs
Maximum – Rs.50 Lakhs
Should I Buy Birla SunLife Cancer Shield Plan?
The number of cancer patients are increasing day by day in India and the numbers are telling something very dangerous scene. In case you have been diagnosed with cancer in coming days then the cost of treatment is really high. I have seen how suffering and expensive it is to continue the cancer chemotherapy treatment.
Now you may have a term plan to secure your family’s life after death, which will not work in case cancer diagnosis. Even a health insurance policy may not be sufficient as they only handle hospitalization benefits only. In such a case, a dedicated policy for treating cancer could be a good idea only in case you are aware about the same.
Birla SunLife is a good name in the industry and this kind of cancer care plans are new to India also. If you are interested to buy such products, I think better to compare with other similar products and choose the which has many benefits for the same premium payment. Although I think that 50 lakh of max coverage is one of the highest coverage among all cancer care insurance policies in India.
Did you buy any cancer care insurance yet? Would you like to share your experience or any concern here by writing a simple comment below. Thanks for reading & sharing this article.
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