Cancer Insurance Policy: 5 Helpful tips before buying a Cancer Insurance Plan in India

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The treatment of cancer is costly nowadays & hence cancer insurance will help individuals finance its treatment. Your general health policy may not be sufficient, and you may end up paying a considerable amount of money from your own resources.

While we make an effort to stay home to fight the spread of Covid-19, a disease such as Cancer still remains on the top. We do not want to think about the possibility of receiving a cancer diagnosis. Such a diagnosis strikes fear, shock, and a sense of helplessness in the hearts and minds of everyone affected including loved one.

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Cancer treatment can be prolonged and its high cost requires proper planning. The types of Cancer insurance include benefit policies or indemnity policies. Cancer indemnity policy reimburses hospitalisation and treatment expenses within the policy. Benefit Cancer policy pays the SI on diagnosis of cancer with no relation to expenses, and coverage ceases once the claim is paid. The pay-out can be one lump sum or over several years in a pre-specified manner as per selected Plan. Generally, life insurance companies offer benefit policies and non-life insurance companies offer indemnity policies.

Types of Cancer:

Cancer Treatment Insurance Policy covers the following types of cancer:

  • Stomach Cancer
  • Lung Cancer
  • Breast Cancer
  • Prostate Cancer
  • Ovarian Cancer
  • Larynx Cancer

Cancer Insurance Cover the following costs:

  • Surgery
  • Blood transfusions
  • Prescription drugs
  • Ambulance Rides
  • X-rays
  • Radiation
  • Chemotherapy
  • Nursing
  • Doctors’ visits
  • Hospital Stays
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5 Helpful tips before buying a Cancer Insurance Policy in India:

  1. Opts High Sum Assured: The duration of cancer treatment is long; it is better to select a cancer insurance plan that offers a high sum assured amount.
  2. Plan Should Cover all Stages of Cancer: Go for a plan that covers you through all stages of cancer.
  3. Premium Waiver and Income Benefit: The high cost of cancer treatment can inevitably take your income for a thresh. Hence, go for a plan that acts as a financial backup during the period of treatment.
  4. Terms and Conditions of Survival and Waiting Period of the Policy: Thoroughly examine the waiting period of the policy i.e. waiting time before the policy starts providing coverage. Also check the survival period of the policy to claim covered maximum benefits under the policy.
  5. Family Health History: Compulsory have Cancer insurance Policy if you have a family history of cancer. Also screening every year will help manage the risk of cancer better.

Get Resolutions for Insurance Complaints

If you are facing any issue related to Cancer Insurance Policy, do feel free to reach us at InsuranceSamadhan.com –

Call us at – 844 844 0626

Mail us at – corporate@insurancesamadhan.com

Register your insurance complaint here

Virendra Suri

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