5 smart things to know about cancer insurance

1. Cancer insurance is a special critical illness policy which provides cover in case the insured person is diagnosed with cancer.

2. Some of the common forms of cancer covered by such insurance plans are breast, ovarian, lung, stomach, hypolarynx and prostrate cancers. Skin cancer is usually not covered.

3. The insurance covers costs associated with cancer diagnoses and treatment, including radiation, chemo therapy, hospitalisation and surgery.

4. Usually, the payout depends on the stage of the cancer at detection and claims previously admitted under the policy.

5. Some policies also offer regular cancer check-ups for free over the entire duration of the policy term.

(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta)