BackCancer plans, typically, cover OPD cost
A cancer-specific health insurance policy would be a good idea if there is high incidence of the ailment in a family
PremiumMy grandfather, aunt and my cousin had cancer. I want to take a cancer-specific policy. Should I get a comprehensive health plan instead? Will I have to disclose the details of every relative who had cancer? I am a non-smoker and non-drinker with a healthy lifestyle.
—Parthiv Shah
A cancer-specific health insurance policy would be a good idea given the high incidence of the ailment in your family. Most of these are indemnity plans and pay for all the expenses related to the treatment of cancer. Typically, cancer-specific plans cover OPD expenses that are not covered in a standard health insurance plan. They cover cancer at several stages.
Alternatively, you could buy a broader critical illness plan, which pays a lump sum if you are diagnosed with cancer. Critical illness plans will cover cancer at advanced stages. The definitions of what constitutes cancer and the cover by stage is standardized across insurance plans. Insurers can offer better coverage but not worse than the minimum specified.
Either of the above plans are not a substitute for a standard medical insurance. A comprehensive health plan would cover the treatment cost which you incur for all hospitalization, including cancer. If you don’t have a health policy, buy a comprehensive and cancer-specific plans.
Note that full disclosure of all material facts is essential when buying a policy, so that the claim does not get rejected on the basis of non-disclosure. So, mention the family history of cancer when buying the plan. However, insurers generally do not ask for medical history of relatives and grandparents. Since you are healthy, the policy should be issued to you.
I am moving from Mumbai to Kolkata and wish to move my two cars by train. How should I insure against any damages during transportation? Will my current car insurance cover it?
—Mohan Dev
A comprehensive car insurance policy covers any damages suffered by the car when it is transported from one place to another by any means of transport. So, if your current car insurance is a comprehensive policy, it would cover any damages during transportation.
However, if you have a third-party cover, the damages would not be covered. In this case, you should buy a single transit marine insurance for the journey. Switch over to a comprehensive car insurance policy when you renew.
Abhishek Bondia is principal officer and managing director, SecureNow.in. Queries and views at mintmoney@livemint.com
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