ICICI Pru Heart and Cancer Protect Plan – Should you opt?

ICICI Pru Heart and Cancer Protect Plan – Should you opt?

Couple of months back, ICICI Life Insurance has launched new protection plan, ICICI Pru Heart and Cancer Protect Plan which covers both heart and cancer diseases with low premiums. You can opt the plan for either of the options or combined one. It comes with several unique features. What are the benefits of ICICI Pru Heart and Cancer Protect Plan? What are the exclusions in this plan? Are there any hidden factors which ICICI Pru Life is hiding in this plan? Should you really opt for ICICI Pru Heart and Cancer Protect Plan? Let me do heart/cancer insurance plan review in this article.

Also Read: LIC Launches Jeevan Utkarsh Insurance Plan – Should you Opt for this plan?

Overview about this plan

Heart attack and cancer are the two major fatal diseases that claim the major death tolls India. While stressing the patient with physical stress, these two diseases exert great pressure on family members also regarding finances. The treatments involved in their ailments are very expensive. To combat these costs and ensure a regular income, ICICI announced its new insurance plan on 3rd July, 2017 named ICICIC Pru Life Heart/Cancer Protect Plan that covers both these diseases for relatively low premium. There is an option to choose the type of cover, either cardiac or cancer or can have both. Let’s check out this plan inside out.

Benefits of ICICI Pru Life Heart/Cancer Protect Plan

The key benefits of ICICIC Pru Life Heart/Cancer Protect Plan have been summarized below:

  • The minimum age to take this policy is 18 years and maximum is 65 years.
  • The minimum policy term is 5 years which lasts upto 40 years. Policyholders can carry this cover for a maximum of 70 years of age.
  • It provides the insurance amount on first diagnosis of illness irrespective of actual amount spent on treatment to help you recover without worries.
  • The company provides 5% discount on the combined premium of first year if you buy health cover for yourself and spouse.
  • You need not find a network hospital or get treated in the hospital of their choice. You will be provided with cash on first diagnosis and you are free to get treated at the hospital of your choice.
  • If you are diagnosed even with minor condition or fully disabled, the future premiums will be waived which directly means that full cover at no cost.
  • The plan increases your sum assured by 10% every year upto 200% of the basic sum assured keeping in mind the rising cost of the treatment.
  • Additional benefit of 1% of sum assured is provided every month for 5 years to help to deal with the income loss. This payment is over and above lump sum payment on diagnosis of the illness and is paid to the nominee even after the death of insured person.
  • One can save tax upto Rs. 25,000 for premiums paid towards the plan u/s 80D of the income Tax Act, 1961.
  • You can download ICICI Heart and Cancer protect brochure here

How does ICICI Pru Heart and Cancer Protect Plan work exactly?

The policy pays out on the diagnosis of heart ailments or cancer, irrespective of the stage of the disease. If it is a minor condition, the plan pays out for 25% of the sum assured and the policy is continued. If, the disease reverts back in the major way, the company pays out the remaining 75% of the sum assured and the policy is terminated. In case of major condition detection, the company pays out 100% of the cover amount as a lump sum and the policy is terminated. 

Lets see the premium and coverage. A 35 year male can take Rs 20 lakh cancer cover for a policy term of 40 years by paying premium of Rs 4,800 per year. Similarly, a 35-year-old male can buy a combination of Rs 20 lakh cancer cover and Rs 10 lakh heart cover for Rs 10,000 a year.

What is covered under ICICI Pru Life Heart & Cancer Protect Plan?

a) Cancer cover consists of:

b) Heart cover consists of:

What is not covered in ICICI Pru Heart and Cancer Protect Plan?

Pre-existing diseases and Carcinoma-in-situ of skin are not covered under this plan.

What are additional Benefits available in this plan?

1) Get Rs 5,000 every day if you’re hospitalized: Under this cover, you will receive Rs. 5,000* as daily cash benefit in case you are hospitalised due to a covered ailment. The daily cash is given irrespective of actual hospitalisation costs to help you manage daily expenses. This is explained in below screenshot.

2) Increase your cover 10% every year till it doubles:  Take care of increasing medical expenses with the Increasing Cover Benefit. It increases your Sum Assured by 10% simple interest every year until the first claim is made. The benefit will increase up to a maximum of 200% Sum Assured opted at inception. This is explained in below screenshot.

Also Read: ICICI iProtect Smart Term Insurance Plan Review

3) Assured monthly payout as income for 5 years: On the diagnosis of any Major Condition, you will receive 1% of the base Sum Assured every month for 5 years under this benefit. This is explained in below screenshot.

Few FAQ's about ICICI Pru Heart and Cancer Protect Plan

1) What are the conditions covered under the policy?

Ans. The plan covers both minor and major conditions of cancer and heart diseases which starts from early stage cancer to angioplasty or valvuloplasty.

2) How does the policy pay out?

Ans. Irrespective of the severity of the disease, this policy pays out on diagnosis of heart ailment or cancer. If it is a minor condition, the policy pays out 25% of the cover amount and the policy is continued till the policy term. If the disease affects the policy holder in the major way, it pays out the rest 75% and the policy is terminated. In case of major condition, the policy pays out 100% of the cover amount.

3) What are the additional benefits and do we need to pay separately for them?

Ans. The policy has three additional benefits, hospital cash benefit, no claim benefit, and income benefit. One can choose any of these as per their requirement and they increase the premium amount in proportion.

4)  How long does it take to get the reimbursement?

Ans. The policy does not require you to wait for the claim till you pay the bills as it pays out cash on diagnosis. One just needs to present medical records of diagnosis or doctor’s certificate to the claim centers.

5) Are pre-existing diseases covered?

Ans. No, pre-existing diseases are not covered. Any heart or cancer condition, which was diagnosed with in 48 months prior to the policy issuance, would not be covered.

6) What is waiting period?

Ans.  It is that period within which no policy claims are admissible. In case the policyholder is diagnosed with a claimable condition during this period, the company refunds all the premiums till date and the policy is terminated. The waiting period for this policy is 6 months, which is standard in the insurance industry.

7) Can parents be covered within the same policy?

 Ans. No, parents cannot be covered with in the same policy. Only spouse can be covered under the same policy to avail the benefit of 5% discount on first year’s premium. However, the cover of both people would remain independent of each other, with an option to choose different cover amount for each.

8) What happens if cancer once treated reverts back again? Does the policy cover it again?

Ans. The policy pays out on every stage. If the cancer is detected at minor stage, the policy pays out 25% of the sum assured and it is continued. But, the disease reverts back with major stage; the policy pays out the rest of the cover amount for treatment and recovery.

Also Read: Should you consider Aegon Life iCancer Insurance Plan?

Should you opt for ICICI Pru Life Heart/Cancer Protect Plan?

ICICI Prudential Life have one of the best claim settlement ratios. As per IRDAI annual report, ICICI Prudential life’s claim settlement ratio is 96%.

With the current lifestyle, the chances of getting these diseases are increasing day-by-day. A normal health insurance does not cover these illnesses adequately. The company is offering a specific plan to combat these fatal diseases. If you have a family background or history of catching these diseases, then one should definitely opt for this plan to save his family from financial burden that might ruin their financial life.  However one should also consider the limitations this plan has.

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ICICI Pru Heart and Cancer Protect Plan – Should you opt


  1. I purchased icici heart and cancer cover ..i am contacting icici insurnace toll free number from past 1 week..they are not able to solve my query they say we will arrange a call back but there is no call back from them

    Just misleading me 

  2. This is so strange. 


    Why heart patients are being denied Mediclaim policies. 


    Praveen Verma. 

    New Delhi 48 

  3. Thanks for sharing this. Can't this be replaced with Critial Care Insurance. Which would be more advantegous to go for. Critical care or ICICI Heart and Caner.

  4. Hi , thanks for sharing this , so kind of you , please help me for the following clarification thanks , Iam 55 years retired 1) I had undergone Angioplasty 24 months back and I have taken star health insurance for their maximum cover of rs 4 Lakhs , with this background will I be eligible for this considering the future expenses since I have My family history both my Dad and my eldest brother passed away due to heart issues thanks 

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