Niva Bupa Health Insurance Company Limited, formerly known as Max Bupa Health Insurance Company Limited, has announced a customised group plan for comprehensive coverage of Cancer treatment at an affordable annual premium. leading health has launched this plan at a cost of Rs 1,499 plus taxes. This product has been developed by Niva Bupa in consultation with the Indian Cancer Society (ICS), the company said in a press statement.
“While cutting edge Cancer treatment is available in India, it is expensive and many families who are neither covered under any government scheme, nor have any private health insurance cover, have to bear the medical expenses from their own pocket, thus leading to financial stress. The existing private health insurance plans covering cancer are mostly very expensive for a common person to afford,” Niva Bupa said in the press release on Thursday.
Indian Cancer Society recognized this as a critical need and joined hads with Niva Bupa to come up with a cancer plan to address this gap.
This group insurance plan is designed keeping in mind the requirements of low and middle-income families and not only covers hospitalisation but also day-care expenses like radiation, chemotherapy, etc. at a nominal premium This family floater plan offers INR 5 lakh coverage for up to two adults and three children (for families that do not have cancer).
The cancer plan will be especially beneficial for the lower socio-economic strata and would enable customers to avail cashless treatment across over 80,00 network hospitals empanelled with Niva Bupa, the insurer said.
“For those above these limits and the middle income, there are no insurance products that are affordable and mitigate the financial burden of holistic cancer treatment. The experience of Indian Cancer Society Cancer Cure Fund shows that Rs 5 lakh cover will cover the cost of treatment of most common cancers. We are happy that Niva Bupa has responded to our challenge and has launched an affordable group insurance plan,” said Usha Thorat, trustee of Indian Cancer Society.
Krishnan Ramachandran, MD and CEO of Niva Bupa said, “This product will especially enable people in low-income groups to eliminate the possible risk of poverty arising from expensive cancer treatment and provide them complete peace of mind.”
“The association with ICS aligns well with Niva Bupa’s vision to democratize health insurance and provide access to healthcare services to millions of people in the country,” he added.
The product includes additional benefits as well such as coverage for organ transplant along with other modern treatments including oral chemotherapy, immunotherapy, robotic surgeries, proton beam therapy, personalised and targeted therapy, hormonal therapy or endocrine manipulation, pre and post hospitalisation coverage for 30 and 90 days respectively.
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