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Term Insurance and health insurance for Cancer recovered patient

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06 Mar, 2021 by  Abhishek dutta

Hi,


I am going to get married to my college sweetheart this summer. She was diagnosed with breast cancer in July 2018 and after surgery, multiple rounds of chemotherapy and radiation, came out stronger and cancer-free in November 2019. She is working with a MNC and has employee health insurance but we would like to get term insurance as well as health insurance for her.


Need inputs from the learned people here as to which insurance provider will provide her policy without any issues. P.S She is undergoing tests as stipulated by her oncologists and there are no issues for the last 1 and a half years(touch wood)

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08 Mar, 2021

Hello Abhishek,


Congratulations to you and your fiance!


I wouldn't like to mince words and tell you the truth. Most Insurance companies do not approve insurance (health as well as term insurance) for Cancer survivors. Despite recent IRDAI regulations allowing insurers to put permanent exclusions for cancer and issue health insurance that covers other diseases - they are known to decline covering Cancer survivors.


You will have to be persistent and try multiple insurance companies to get a cover. Some avenues that may work as last resort are - a) Government Insurance companies (insist on them declining cover in writing, if they do) - b) Covers through Banks.


Some other suggestions:

  1. Ensure you make detailed declarations, submit more than required documents - also getting a certificate from her oncologist that mentions that she is 100% cured and only under monitoring could help.
  2. Ensure you take all voluntary covers (for health & life) made available to her by her employer and apply for portability whenever she changes her job as early as possible. This strategy may work. In case any insurer rejects portability - please ensure you get the decline communication in writing on the letter head of the insurance company.


Hope this helps.


Regards,

Mahavir

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