Cancer is the second leading cause of death worldwide — here's a look at key disease-specific insurance policies

Understanding the coverage terms and conditions becomes crucial for policyholders.

Shah underscored the significance of policies covering diagnostic tests, hospitalisation, a cashless network of healthcare providers, surgery, chemotherapy, radiation therapy, and prescribed medications.

He also noted the inclusion of oral chemotherapy and robotic treatments in modern health insurance policies.

On the other hand, Ram Natesan, in charge of Network and Provider Management at Star Health & Allied Insurance, highlighted the nuances of cancer coverage in health insurance.

While general health insurance covers cancer hospitalisation, he said specific treatments like chemotherapy or consultation charges may not be always included.

Natesan advised purchasing a basic health insurance plan for a family, preferably covering ₹10-15 lakh, and topping it up with a critical illness plan that includes cancer.

He pointed to the dedicated cancer care plan at Star Health as a viable option, stressing the importance of financial protection against the rising instances of cancer, including breast and cervical cancers attributed to lifestyle, pollution, and family history.

As per Siddharth Singhal, Business Head - Health Insurance, Policybazaar.com, first-time buyers with a family history of cancer should buy a cancer secure add-on that pays a lump sum benefit if the policyholder is diagnosed with cancer.

"The payout can go up to 150% of the sum insured depending on the type and stage of cancer. This amount can be utilised to pay off debts, cover lost income, and help them adjust to significant lifestyle changes," he said.

Parthanil Ghosh, President of Retail Business at HDFC ERGO General Insurance, shed light on the impact of health insurance in the context of cancer claims.

"With over 27,000 cancer claims settled as of December 2023 for the financial year 2023-24. We have 'iCan,' a specialised cancer insurance policy covering all types and stages of cancer. The policy encompasses conventional and advanced treatments, in-patient and outpatient care, and offers a renewable option even after a claim," he told CNBC-TV18.com.

Ghosh emphasised the affordability of cancer-specific critical Illness riders, offering protection against cancer at a low premium.

Raghavendra Rao, Chief Distribution Officer at Future Generali India Insurance Company, urged routine check-ups for early detection.

Rao emphasised the need for sufficient insurance coverage and increased awareness. He envisions a future where cancer is not a barrier to well-being and fulfilment.