Mumbai:
New India Assurance Company(NIC), the largest general insurnace multinational on Friday has launched “ New India Cancer Guard Policy,” a specialised product offering comprehensive insurance solution for cancer treatment
As cancer treatment is is shifting from the conventional approach to a more holistic treatment using the advanced technology, The new cancer cover by the NIA jas been unveiled at function attended by officials of NIA and Apollo Hospitals.
Atul Sahai, CMD,NIA, said,“Although the regular health policies of the company cover cancer treatment, this specialised policy helps the policyholders to opt for the changes in the treatment pattern, as well as meet the increased cost of treatment.The medical advancement and highly professional medical facilities have made it possible to avail specialised treatment in India.''
Like a proton therapy costs anywhere between Rs25 to Rs30 lacs and cannot be addressed by the standard insurance policy usually taken for relatively smaller limits. With the advent of Gama or cyber knife redefining the treatment protocols and confinement to a hospital, a specialised and comprehensive product is needed to cater to such treatments, he explained.
Some of the key features of the “ New India Cancer Guard Policy,” are:
•offers to cover all methods of treatment for cancer, conventional and advanced, including but not limited to proton therapy and personalized targeted therapies.
• offers OPD treatment as Cancer treatment at times may not require immediate hospitalization
•offers cost for reconstruction of the affected body parts following an Onco surgery
•medical second opinion for surgery
•follow up treatment and medical expenses for organ transplant.
•offers cancer care Benefit of lump sum payment of 50 per cent of the sum insured on detection of advanced stage of cancer.
•the Sum insured offered ranges from Rs. 5 lacs to Rs.50 lacs.
Who can take the policy?
•Any person between the age group of 3 months and upto 65 years can take the policy, which can be renewed thereafter.
•no need of a pre-acceptance medical health checkup.
•pre-existing illnesses are not covered
•there is 90 days waiting period for the policy to trigger.
There is a need for innovative product like this as it would with affordable premium take cate of the hight cost treatment of cancer , said Dr Anil D’Cruz Director Oncology at Apollo Hospitals.
R M Singh,general manager, NIA said that cancer has emerged as the second leading cause of death globally, after cardiovascular diseases and according to the National Cancer Registry, India’s cancer incidence is estimated at 1.15 million new patients as of 2018 and is feared to almost double due to demographic change by 2020.
The insurance penetration is increasing with various government schemes and also more facilities are made available. This all has given more hope to the cancer patients to avail treatment in India and therefore, the need for a special policy.
The New India Assurance has the largest health insurance business in the country. The insurer wrote health premiums of Rs.5149.70 crores at end of Q2 as against the premium of Rs4227.80 crores as against Q2 of 2018.