ABSLI Cancer Shield Plan

ABSLI Cancer Shield Plan: Protect Your Savings from Cancer

Cancer poses a significant risk, and treating it can place an enormous financial burden on individuals and their families. The ABSLI Cancer Shield Plan is designed to provide financial protection by covering all stages of cancer and offering various benefits to ease this burden.

Key Features of ABSLI Cancer Shield Plan

• Covers All Stages: This policy provides coverage for both early and major stages of cancer.
• Upfront Payout: If diagnosed with cancer during the policy term, receive the claim amount promptly by submitting the diagnosis report.
• Premium Waiver: If diagnosed with early-stage cancer, premiums are waived for the next 5 years to alleviate financial strain.
• Increasing Cover Option: Increase your initial sum assured by 10% per annum for ten years, provided no claim is filed.

Benefits

• 5% Discount Online: Save 5% when purchasing online.
• Affordable Coverage: Get ₹10 lac of cancer insurance for just ₹120/month.

Eligibility Criteria

• Entry Age: Available for individuals aged 18-65 years. Premiums are lower if purchased earlier.
• Maturity Age: Coverage up to age 85.
• Policy Term: Choose a policy term between 5 and 50 years.
• Premium Payment Mode: Flexible options including monthly, quarterly, half-yearly, or annually.
• Premium Paying Term: Regular pay.

Importance of Cancer Insurance

• Increasing Cancer Risk: 1 in every 9 Indians may develop cancer in their lifetime.
• High Treatment Costs: Cancer treatment in India can be extremely costly, often exceeding ₹20 lakhs.
• Financial Impact: Cancer can increase expenses by 36-44%.
• Growing Risk: The risk of cancer in men is projected to be 19% by 2025.

How ABSLI Cancer Shield Plan Works

Example:

Rahul, aged 35, purchases the ABSLI Cancer Shield Plan for 20 years with a sum assured of ₹50 lakhs. He pays an annual premium of ₹6,900 excluding GST.

• Early Stage Diagnosis: At age 48, Rahul is diagnosed with early-stage cancer. The policy pays ₹15 lakhs (30% of the sum assured), and premiums are waived for the next 5 years.
• Major Stage Diagnosis: At age 54, Rahul is diagnosed with major-stage cancer. The policy pays the remaining ₹35 lakhs (70% of the sum assured) and provides a monthly income of ₹50,000 (1% of the sum assured) for the next five years.

With these benefits, Rahul can access the best treatment options available.

What’s Not Covered

The ABSLI Cancer Shield Plan covers all stages of cancer, but does not cover:

• Carcinoma in-situ of skin and Melanoma in-situ
• Pre-existing Conditions
• Intoxication by alcohol or narcotics, or use of any drug, medication, or sedative (except over-the-counter drugs used according to package directions)
• Nuclear, Biological, or Chemical Contamination (NBC)

How to Claim

Initiate a claim in three simple steps:

1. Fill Basic Details
2. Claim Intimation
3. Document Submission

FAQs

• What is ABSLI Cancer Shield Plan? This plan provides financial protection through all stages of cancer, covering treatment costs and protecting your savings.
• I have a health insurance policy. Do I still need ABSLI Cancer Shield Plan? Yes, cancer insurance specifically covers cancer treatment costs which may not be fully covered by general health insurance.
• What is stage 2 cancer? Stage 2 cancer is an intermediate stage where cancer has grown but not yet spread extensively.
• What does a cancer insurance policy cover? It covers the cost of treatment for various stages of cancer, depending on the policy terms.
• What if a minor stage of cancer is diagnosed and later a major stage is identified? Coverage and benefits will depend on the policy terms and the stage of cancer at each diagnosis.

Explore More

• Download Brochure
• Policy Contract
• Leaflet
• BUY ONLINE NOW

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