Cancer today has become a major threat to health and cause of death. Despite the progress in technology and research, cancer still is one of the most lethal diseases out there. There are chances to reduce the risk of cancer but not completely. While genetics can be the reason for cancer but the environment also plays a major role in it.
There are over 200 kinds of cancer diseases known till now and the major ones include lung cancer and breast cancer in women. Most women are not aware of having breast cancer until the later stage.
The thought alone of having cancer is draining physically and emotionally, but also financially. A person already suffering from cancer does not wish to be burdened about the expenses of cancer treatment which is a lot. As the disease progress, the hospital bills also increase. Health insurance with cancer cover in these stressful situations can be relieving for the person suffering. Cancer treatment can be quite costly, be it be chemotherapy, radiation therapy or, surgery.
A lot of health insurances with critical illness offer cancer treatment but here’s the catch with cancer cover. It provides insurance before you are diagnosed with cancer, but if you are a cancer patient the insurance will be denied to you. For most critical illness plans you have to wait for 90 days of the commencement period to claim the insurance.
Most insurances do not offer a large sum of money for cancer treatment which is understandable because the treatment is quite expensive. But with cancer insurance plans you are no longer burdened with treatment expenses.
Types of cancer covered insurance plans:
- Lung cancer
- Breast cancer
- Ovarian cancer
- Prostate cancer
- Stomach cancer
Things to consider while buying cancer insurance:
- Cancer has four stages which range from the early stage to the critical stage. The treatment for the disease is more in the critical stage as the surgeries and chemotherapies cost a fortune. While getting health insurance with cancer cover make sure that you are getting insurance for all the stages and are meeting the financial demands.
- Pre and post medical expenses- The treatment for a cancer patient begins even before the hospitalization and some continue even after the discharge. While getting health insurance always make sure that the expenses are covered for both pre and post-treatment.
- When a person suffering from cancer is admitted to an ICU, it can be a hefty amount. But with cancer insurance, the ICU treatment is completely free and there is no limit on the time in ICU.
- Annual health check-up- When a person has suffered from cancer recently, they should get an annual check-up to make sure there are no adverse effects of the treatment or the disease. Make sure the cancer insurance covers all the expenses.
- With some cancer insurances you also get a bonus for all the years you do not claim the insurance.
Benefits of cancer insurance:
- Buying an insurance plan will only ensure a little coverage for some diseases, but with cancer insurances, you are secured and tension-free for all the cancer treatment expenses.
- If you do not claim your insurance, then the bonus you receive adds up to your insurance, making sure to take the amount even bigger than before.
- One of the benefits of cancer insurance is it covers all the expenses and that too at an affordable rate.
Need to buy insurance:
- As the number of cases is increasing rapidly, it is essential to have health insurance with cancer cover.
- With advancement, several technologies and treatments are available which also has increased the expenses. Chemotherapy, radiotherapy, organ transplantation, surgery are some of the main treatments which are quite expensive. Also not forgetting the medicines, regular check-ups add up to the already expensive treatment.
- Health insurance with cancer cover also covers expenses other than the hospitalization bills. OPD expenses along with other treatments are also covered in these insurances.
- The insurances make sure that the families which are not so well-off do not have to sacrifice their children’s education or cut off on the other necessities of the family and house.
Finding affordable cancer insurances:
- Make sure you are buying the right health insurance according to your financial needs and conditions. Consider your family history to get the right insurance since everyone’s financial profile is unique.
- Review the insurance policy before buying it. Make sure that all the expenses are covered in it.
- Always go through the waiting period of the insurance. Generally, health insurances have a waiting period of 90 days before it is claimable.
- Consider all the exclusions of the insurance. Some insurances do not offer insurance for illness or disorders. Reviewing the exclusions will help in avoiding time wastage and help you select the right insurance.
Cancer insurances in India do not offer renewability after the claim has been made. But care health insurance provides a lifetime renewability option. It is advisable to get cancer insurance to secure your family’s future.