ABSLI Cancer Shield Plan

A health insurance policy covers almost all diseases including critical illnesses like cancer. But a health policy will pay for inpatient hospitalization and for treatment at hospitals in India. They do not cover the entire cost of treatment. This is why you will need a cancer insurance policy as it will pay you a lump sum after the diagnosis of the illness. Other than this, you get monthly payouts to align monthly expenses because you have a loss of income.

No, a cancer insurance policy can be purchased for a dedicated person.

Yes, a cancer insurance policy can be purchased between 18 years to 65 years.

With rapidly changing lifestyles, the risk of cancer is growing at an alarming rate in India and the treatment-related expenses could cause a huge dent in your savings.

Keep these few important things in mind while choosing the best cancer plan for you:

a. The benefits, including payouts, at all stages.

b. What kind of benefit applies at each stage and the total benefits under the plan.

c. Does the Cancer plan offer a fixed sum insured throughout the term or does the sum insured increase by a certain percentage every year up to a certain fixed limit? (The increased sum insured is called the indexed sum insured as the annual increase is indexed to the initial sum insured.) Though the premium could be higher for such a plan, it does ensure taking care of the escalating medical costs.

d. Is there a waiver for all future premiums upon diagnosis? Check what stage the plan offers it at.

e. Will there be a regular income benefit as a fixed percentage of the sum insured upon diagnosis?

Yes, there are tax benefits with ABSLI Cancer Shield Plan. You get tax benefits as per Section 80D of the Income Tax Act, 1961 as per current tax laws. Tax benefits are subject to changes in the tax laws. You are advised to consult your tax advisor for the same.

The process is fast, smooth and simple, ensuring your claims are settled quickly, hassle-free.

There are 4 premium paying modes unders this policy- Annual | Semi-annual | Quarterly | Monthly.
This is a Regular Pay Plan. The premiums will be guaranteed for the first five policy years. Thereafter, premium rates are subject to change. Any change in the premium rates will take place subject to prior approval from the Insurance Regulatory and Development Authority of India (IRDAI) and after giving you adequate notice in advance. Your premium can be paid annually, semi-annually, quarterly or monthly (automated mode of payment). Your annualized premium will be multiplied by:

• 1.000 for annual installments
• 0.519 for semi-annual installments
• 0.265 for quarterly installments
• 0.090 for monthly installments

Minimum -Rs.10 lakhs/ Maximum -Rs.50 lakhs

The diagnosis of any of the below listed conditions must be established by histological evidence and be confirmed by an independent medical practitioner who is also an oncologist in the relevant field.

a) "Carcinoma in - situ" Carcinoma in – situ means the presence of malignant cancer cells that remain within the cell group from which they arose. It must involve the full thickness of the epithelium but does not cross basement membranes and it does not invade the surrounding tissue or organ. The diagnosis of which must be positively established by microscopic examination of fixed tissues.

b) "Prostate Cancer – early stage" Early Prostate Cancer that is histologically described using the TNM classification as T1N0M0 with a Gleason Score 2 (two) to 6 (six).

c) "Thyroid Cancer – early stage" All thyroid cancers that are less than 2.0 cm and histologically classified as T1N0M0 according to TNM classification.

d) "Bladder Cancer – early stage" All tumors of the urina_ bladder are histologically classified as TaNoMo according to TNM classification.

e) "Chronic Lymphocytic Leukemia – early stage" Chronic Lymphocytic Leukemia categorized as stage 0 (zero) to 2 (two) as per the RAI classification.

f) "Cervical Intraepithelial Neoplasia" Severe Cervical Dysplasia reported as Cervical Intraepithelial Neoplasia 3 (CIN3) on cone biopsy.

The stage in which a malignant tumor is characterised by the uncontrolled growth and spread of malignant cells with invasion and destruction of normal tissues. The diagnosis must be supported by histological evidence of malignancy and confirmed by a pathologist. The term cancer includes, but is not limited to, leukemia, lymphoma and sarcoma

It is any condition, ailment or injury or related condition(s) for which you had signs or symptoms and/or were diagnosed and/or received medical advice or treatment within 36 months prior to the first policy issued by the Company.

The benefits under this plan shall not be payable under any stage of Cancer if the covered conditions result directly or indirectly from any of the following causes:

a. Pre-Existing Disease: “Pre-existing Disease” means any condition, ailment, injury or disease:

a) That is/are diagnosed by a physician within 36 months prior to the effective date of the policy issued by the insurer or its revival (for policies revived with an effective date of revival on or after 60 days from the due date of the first unpaid premium), whichever is later; OR

b) For which medical advice or treatment was recommended by, or received from, a physician within 36 months prior to the effective date of the policy or its revival (for policies revived with an effective date of revival on or after 60 days from the due date of the first unpaid premium), whichever is later; OR

c) A condition for which any symptoms and or signs if presented and have resulted within three months of the issuance of the policy or its latest revival date, whichever is later, in a diagnostic illness or medical condition.

This exclusion will not be applicable to conditions, ailments or injuries or related condition(s) which are underwritten and accepted by insurer at inception.

b. If the diagnosis of Cancer occurred during the waiting period, or there were signs or symptoms during the waiting period that led to the subsequent diagnosis of Cancer. This exclusion b) shall not apply for pre-existing diseases provided there is a full disclosure of the illnesses and accepted by ABSLI as per Board-approved Underwriting Policy.

c. For any medical condition or any medical procedure arising from the donation of any of the Life Insured’s organs.

d. For any medical conditions suffered by the Life Insured or any medical procedure undergone by the Life Insured, if that medical condition or that medical procedure was caused directly or indirectly by alcohol or drug abuse.

e. For any medical condition or any medical procedure arising from nuclear contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature.

Please refer to the product brochure for detailed exclusions.