Future Generali launches 'Cancer Protect' plan

BENGALURU: Future Generali India Life Insurance has launched ' Cancer Protect', a comprehensive health plan that covers all stages of cancer (minor or major). The cover is available for everyone, up to Rs. 40 lakh. Minor lives can be covered too, up to a limit of Rs. 10 lakh. The maximum coverage age is 80 years.

A policyholder has option to choose lump sum or lump sum + income benefit payout. In lump sum payout option, one gets 100% of the sum assured on diagnosis for a major stage cancer, and 25% for a minor stage and premiums are also waived off for the next three years or till the end of the policy term whichever is earlier.

For lump sum + income benefit payout, apart from the fixed payouts, one also receives 2% of sum assured per month for a period of 60 months on diagnosis of a major stage cancer.

A cover of Rs. 10 lakh comes at an annual premium of Rs. 1,148 for a 30-year non-smoker male for a policy term of 50 years. For smokers, it costs Rs. 1,837 annually. These are the costs for lump sum payout option. For lump sum + income benefit payout option, it costs Rs. 2,330 p.a. for non-smokers and Rs. 3728 p.a. for smokers.

"Cancer incidences are on a rise in India, and with over 200 different kinds of cancer, this disease can be debilitating for the family emotionally as well as financially. Medical advancements today have improved the survival rate tremendously; however, cost of medical expenses to fight Cancer continues to be a huge burden on the family's finances. The Future Generali Cancer Protect Plan takes complexity out of buying the product and aims to help our customers secure themselves and their families financially through a simple process, with no medical examinations at a highly affordable cost. Thus ensuring that their personal savings and linked dreams don't get impacted. This is in line with our efforts of providing straightforward and transparent products that deliver value to our customers," said Munish Sharda, Managing Director & CEO, Future Generali Life Insurance.