Howden launches cancer cover as insurers avoid standalone plans

AstraZeneca employees and their parents gain immediate protection for existing claims.

Howden Insurance Brokers India Pvt. Ltd. has designed a dedicated Cancer Care Group Policy, which has been integrated by AstraZeneca India into its employee benefits package.

The policy addresses a gap identified by Howden India's market assessment, which noted that standalone group cancer solutions have been largely unavailable in India due to insurer concerns over incidence risks, pricing uncertainties, and limited actuarial data.

High treatment costs and the long-term severity of the condition have historically made viable insurance models difficult to construct.

The policy provides coverage options with sums insured ranging from $16,500 ( INR15 lakh) to $33,000 (INR30 lakh). It extends to family members, including parents, and covers all existing cancer-related claims without a waiting period.

Additional features include extended pre- and post-hospitalisation benefits, coverage for prolonged treatment pathways such as oral medications and emerging therapies, and integration with existing Mediclaim policies. 

Howden India developed the product through collaboration with select insurers.

Amit Agarwal, Managing Director and CEO of Howden India, stated that the solution demonstrates how complex health risks can be addressed through innovative approaches to employee benefits.

($1.00 = INR94.98)