Aditya Birla Activ Secure – Cancer plan is a comprehensive solution tailored to alleviate the financial burdens associated with cancer diagnosis and treatment. It has been developed to encompass individuals confronting the challenges of cancer and offers extensive coverage across all stages of the disease.
One of the noteworthy features of the Aditya Birla Activ Secure – Cancer plan is its proactive approach towards early-stage diagnoses. In addition to covering major and advanced stages of cancer, it provides an augmented sum insured if an initial diagnosis progresses to a more severe stage, ensuring enhanced financial protection throughout the treatment journey.
Moreover, this plan offers substantial sum insured options, with coverage extending up to Rs 1 crore. This high threshold aims to provide policyholders ample financial support for cancer treatment expenses.
In this guide, we will cover various sides of the Aditya Birla Activ Secure – Cancer plan, including its features, benefits, and the invaluable protection it offers to individuals facing the challenges posed by cancer.
Key Highlights of Aditya Birla Activ Secure – Cancer Plan
- A range of sum insured options, starting from Rs 5 lakh and extending up to Rs 1 crore to ensure adequate financial protection against various expenses incurred during cancer treatment
- Flexibility to choose from multiple policy tenures, including 1 year, 2 years, or 3 years as per your preferences and long-term financial planning goals
- A vast network of over 10,050 hospitals providing access to a wide array of healthcare facilities
- Incurred Claim Ratio (2020-21) of 49.99% for the fiscal year 2020-21
- Initial waiting period of 90 days before coverage becomes effective (180 days for early-stage cancer)
- Survival period of 7 days
- 10% family discount, providing policyholders with an opportunity to avail of cost savings when insuring multiple family members under the same plan
Also Read: All About Section 80D
Benefits of Aditya Birla Activ Secure – Cancer Plan
- The plan offers coverage for all stages of cancer. Whether the insured is diagnosed with cancer at an early, major, or advanced stage, the policy provides a lump sum payment, ensuring comprehensive financial protection throughout the treatment journey.
- In the event of a claim raised on the early stage cancer diagnosis, policyholders are entitled to receive an additional payout of up to 100% of the sum insured upon a major or advanced-stage diagnosis.
- Unlike conventional critical illness insurance plans, the Aditya Birla Activ Secure – Cancer plan features a short survival period of seven days, as opposed to the standard 30 days. This shorter duration ensures that policyholders can access the benefits of the policy, facilitating timely financial aid during the initial stages of treatment.
- Policyholders are eligible for a cancer cumulative bonus of 10%, accruable up to a maximum of 100%, for refraining from raising a claim in the previous policy year. This bonus serves as a reward for maintaining good health and incentivizes policyholders to manage their well-being.
- Premiums paid towards the Aditya Birla Activ Secure – Cancer plan qualify for tax deductions under Sec 80D of the Income Tax Act.
Inclusions of Aditya Birla Activ Secure – Cancer Plan
- Coverage for early-stage cancer, wherein a lump sum amount of up to 50% of the sum insured is provided upon diagnosis
- Comprehensive coverage in the event of a diagnosis of a malignant tumor or cancer of specified severity in the form of 100% of the sum insured in a lump sum
- Coverage for advanced stage of cancer for individuals diagnosed with a Stage IV malignant tumor or metastatic cancer (150% of the sum insured in a lump sum)
- Option to avail themselves of a second e-opinion from the insurer’s panel of doctors in the event of a diagnosis of cancer of specified severity or metastatic cancer
- Provision of a dedicated wellness coach who offers personalized medical advice on weight management, nutrition, activity & fitness, and tobacco cessation
Recommended Read: A Complete Guide to Aditya Birla Health Insurance
Exclusions of Aditya Birla Activ Secure – Cancer Plan
- Expenses related to the treatment of sexually transmitted diseases
- Costs incurred for the treatment of drug or alcohol addiction
- Medical expenses arising from congenital external anomalies
- Expenses related to the treatment and management of HIV/AIDS
- Costs arising from intentional self-injury or acts of self-harm
- Expenses associated with birth control procedures, including contraception methods and sterilization surgeries
Eligibility to Buy Aditya Birla Activ Secure – Cancer Plan
- Minimum Entry Age: 18 years at least at the time of policy application
- Maximum Entry Age: 65 years
- Coverage Type: Individual basis
- Number of Relationships: The policy permits coverage for up to 10 relationships under a single plan.
- Relationships Covered: Self, spouse, children, parents, and parents-in-law
FAQs
Is the Aditya Birla Activ Secure – Cancer plan suitable for individuals of all ages?
Yes, the Aditya Birla Activ Secure – Cancer plan offers coverage to individuals aged between 18 and 65 years. As long as you fall within this age bracket, you are eligible to apply for the policy and benefit from its comprehensive coverage against the financial impact of cancer diagnosis and treatment.
Can I include my family members under the Aditya Birla Activ Secure – Cancer plan?
Yes, the policy allows coverage for up to 10 relationships under a single plan. You can extend coverage to your spouse, children, parents, and parents-in-law, ensuring comprehensive protection for your entire family unit against the uncertainties of cancer-related expenses.
Are all stages of cancer covered under this plan?
Yes, the policy provides coverage for all stages of cancer, including early, major, and advanced stage diagnoses. Regardless of the stage at which cancer is detected, policyholders receive financial support in the form of lump sum payouts, ensuring adequate resources to navigate the complexities of cancer treatment.
Are there any waiting periods associated with the Aditya Birla Activ Secure – Cancer plan?
Yes, there are waiting periods specified in the policy. There is an initial waiting period of 90 days before coverage becomes effective. Additionally, for early-stage cancer diagnoses, there is a waiting period of 180 days. These waiting periods ensure that policyholders receive comprehensive coverage while maintaining the integrity of the plan.
Can I avail of tax benefits by purchasing the Aditya Birla Activ Secure – Cancer plan?
Yes, premiums paid towards the plan are eligible for tax deductions under Sec 80D of the Income Tax Act. By investing in this policy, you can secure comprehensive coverage against cancer-related expenses and enjoy tax benefits, enhancing the affordability and value proposition of the plan.
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