It is true that cancer is one of the most feared diseases of all. The condition triggers severe physical pain along with emotional stress. Medical reports suggest that cancer accounts for approximately 0.3 million deaths across the world. Lakhs of people die of cancer every year and the number is constantly going up. Perhaps it is the reason that an increasing number of people choose to buy cancer insurance in the current time.
The figures are clearly alarming, and to make it worse, the ailment can strike anyone, regardless of their age and gender. The signs are generally visible only in the advanced stages of this deadly cancer, and the treatment for cancer may run into lakhs of rupees. Keeping in mind the unpredictable nature of the disease, you should definitely protect yourself with a Cancer Plan. This insurance for cancer protects you from the deadly illness with a complete medical coverage benefit at all stages of the disease. In case you are still in a dilemma if you should go for cancer plan insurance or not, knowing these points will surely help you make the proper choice.
Who should purchase Cancer care Insurance?
Are you a Sole Breadwinner?
A cancer health insurance cover is vital for all. But it is even more crucial if you are the only breadwinner in the family. The advantages received provides financial protection against the complete treatment cost without reducing your savings.
Folks with a family history of cancer
Cancer is a chronic condition, and it is mostly hereditary. This means in case you have a family history of cancer; the possibilities are high that you too could be affected by it. To decrease the financial risk linked to it, you must opt for a cancer health insurance policy. After all, the procedure itself is really harsh, and adding to it, if you are financially drained, things can get worst for your family and you.
Your health insurance never covers cancer
You can always purchase a cancer cover as an add-on cover. Remember that it is better to have a separate cancer health insurance plan for wider coverage. After all, what if you are thinking that your health insurance policy has cancer coverage too and one day when cancer strikes you, you discover that the condition is not covered in your insurance policy? It would be a nightmare for you. So, it is always better to take special efforts in advance.
Quick Benefits of Cancer Insurance Policy
There are many benefits that you can enjoy once you have a cancer health policy. After all, it is about the safety of your family and you. You would never want to take a chance with anything.
Increasing Healthcare Cost
In the face of the exponential rise in the prices of healthcare services, there is a huge rise in the number of people buying cancer care insurance. The insurance covers you with the financial cushion that you can depend on to meet the associated expenses. You have no idea how much you need to spend if you get into the issue of cancer. The entire procedure of cancer treatment is really pricey and challenging. So, if you have some financial assistance already, you can be at ease for at least the financial side.
Coverage against varied types of cancer
At the present time, most insurance companies provide coverage against various kinds of cancer. Although the inclusions could differ from insurer to insurer, generally the following kinds of cancer are included:
- Lung Cancer.
- Stomach Cancer.
- Breast Cancer.
- Prostate Cancer.
- Ovarian Cancer.
Cancer includes two stages – minor and major stage. Relying on the severity of your condition, the insurance service provides you with lumpsum compensation. Similarly, there are also insurance companies that even offer the option to enhance the sum assured if you do not make any sort of claim during a policy period. Generally, the insurers raise the sum assured by ten percent for every year of no claim.
Cancer health insurance offers an income benefit option in which if the earning member of the family gets cancer, the insurance company is going to grant a lump sum in diverse intervals over a specified period to compensate for the loss of income. In the case of the death of the cancer patient, the family is going to continue to get income benefits for a particular number of years, subject to a particular set of terms and conditions. The nominee will get the income per month.
Premium Waive off
One of the prime benefits of a cancer health insurance plan is the policyholder can continue with the plan even after there is the diagnosis of early-stage cancer. In case the tumor clears at an initial stage, some insurance companies even offer to waive off premiums for the next three to five years. Of course, such a thing differs from policy to policy.
So, now you know why cancer Care Insurance is on the constant rise in the present time. More and more people are making the sensible choice of buying a policy. When are you going to purchase one?