So, what does the H&C policy offer? H&C plans are usually long term plans for 10-20 years. The cover offered can be up to Rs 75 lakh or more. The insurance policy can cover either heart ailment or cancer or a single policy can provide a combo cover both the ailments. These policies also provide life cover as, on the death of the insured during the tenure of the policy, the insurance company pays the sum assured to the nominee of the insured.
If the insured person suffers from any of the heart-related ailments or from any of the cancers specified in the policy document, the insurance company pays a lump sum to the insured for treatment of the ailment. The coverage extends over all the stages of the ailment, be it primary, middle or critical stage.
The best part is that the policyholder need not go to the network hospital for treatment. The insurance company pays the specified amount to the policyholder based on the diagnosis report of any hospital, even if it is not a network hospital.
Some of the insurance companies offering heart and cancer plans (combined or separately) are ICICI Prudential, Future Generali, Aegon Life, PNB MetLife, among others.