Cancer Insurance Plan

Life sometimes throws unexpected challenges before us. Illnesses are one of them. Among the various ailments known to us, cancer is a critical disease that is one of the chief causes of death across the world. It is a disheartening fact that the number of cancer cases in India has increased over the years. Besides, the prolonged treatment of the disease is expensive. Buying a cancer insurance policy is advisable to safeguard oneself financially.

A cancer insurance policy is a type of health insurance cover that offers lifelong financial protection against various medical expenses resulting from the treatment of cancer at all stages.

What is Included in a Cancer Insurance Plan?

The cancer insurance plan is an indemnity-based plan that offers cover for treatment of cancer at all stages. It comes with the following benefits:

• In-Patient Hospitalization Cover
• Cover for Pre and Post Hospitalization Medical Expenses
• Day Care Treatment
• Ambulance Cover
• Chemotherapy and Radiotherapy Cover
• Cover for Ambulance and ICU Charges
• Organ Donor Cover
• Alternative Treatment
• Cover for OPD Expenses
• Annual Health Check-up
• Second Opinion
• No Claim Bonus
• Lifelong Renewability
• Global Coverage
• No Specific Ailment Waiting Period

In addition to the features we have listed here, the cancer policy allows you to avail of optional benefits and access health services, such as doctor on call and quick recovery counselling.

How to Find Affordable Cancer Insurance Online

Technology has made things easy for an insurance buyer. Buying cancer insurance online is now possible in a matter of a few minutes. Before doing so, ensure you make a clear assessment of your healthcare needs and the expenses you would incur due to the treatment. This assessment will enable you to make a better decision.

Three things to consider:

• Affordable Premium: You can rely on a health cover that offers you the best coverage at a reasonable premium rate. This way, you spend less and avail of more benefits.

• Claims Settlement Ratio: By checking the Claims Settlement Ratio, you can rest assured about getting a hassle-free claim. A high Claims Settlement Ratio indicates a good track record. 

• No Claim Bonus: You can enjoy the benefits of making no claim in a policy year. The ‘No Claim Bonus’ feature makes you eligible for an increased sum insured for every claim-free year.

You can now select the best cancer insurance plan online by visiting the official website of Care Health Insurance. Choose a suitable policy with your preferred sum insured, calculate and pay the premium online, in just a few clicks.

Here are the easy steps for buying a cancer insurance plan online:

A cancer insurance policy protects you from the burden of expensive medical treatment. Consider the following factors before buying one:

• Sum Insured: The cost of medical treatment in India is staggeringly high. And, the rate at which it is increasing is equally alarming. Thus, we recommend that you choose a policy with a high sum insured.

• Features: Make sure your policy has features such as cover for pre-and-post hospitalization medical expenses, medical procedures like chemotherapy, organ donor cover, etc.

• Types and Stages of Cancer: Remember to check if your policy provides coverage for all stages of cancer. Also, check the types of cancer covered by the policy.

• Waiting Period: The waiting period must be completed before you can get a claim. So, make sure you check the waiting period when buying a cancer cover policy.

Also, read the policy document carefully to understand the exclusions. Find out if there is an option of paying the premium in monthly or quarterly instalments or a single payment.

Exclusions in Cancer Insurance?

There is an initial waiting period of 90 days in the cancer insurance plan. The insurer shall not offer coverage if the insured undergoes a diagnosis of the illness or any surgical procedure during this period.
 
A health insurance policy has specific exclusions that every policyholder must know. It will help you to prepare yourself for the out-of-pocket expenses.
 
Given below are the permanent exclusions of the cancer policy:

• Act of self-inflicted injury attempted suicide or suicide

• Any illness related directly to the consumption of alcohol/ tobacco/ cigarettes, etc.

• HIV or any other sexually transmitted disease

• Cosmetic or plastic surgeries or related treatment

• Pregnancy, miscarriage, childbirth, maternity including C- section, abortion, or complications of any of these

• All the hazardous activities

• Damage caused by a nuclear, chemical, or biological attack or weapons

• Illness or injuries caused due to any breach of law by the insured with any criminal intent

How Important is Cancer Health Insurance for Your Family?

The rising cases of cancers in our country are ringing alarm bells. Unhealthy lifestyle choices, family history, and other factors have made people susceptible to this dangerous disease.  The importance of a cancer plan cannot be stressed enough. The progress achieved in cancer research, diagnosis, prevention, & treatment is praiseworthy. However, considering the uncertainties of life, it is always wise to get a health cover to manage any unexpected surge in medical expenditures. 

A cancer health insurance policy is a specialised health cover that will act as a vital financial back-up when a person is diagnosed with the disease. It gives a cushion to your regular health plan that alone may not be sufficient to bear the enormous treatment costs. 

Here are some reasons why a cancer policy is necessary: 

• Cancer is a dreaded disease and requires specialised medical care. This indemnity health plan will cover various cancer treatment-related expenses, thus keeping your family financially safe.

• A cancer cover is necessary for anyone leading a hectic lifestyle. More importantly, if the disease runs in the family, investing in this policy will be a step in the right direction. 

• It works as an additional health cover along with your existing health policy. A regular health policy is not enough for covering the treatment of this illness

• Cancer treatments have advanced, but you also need to consider how expensive they can be in these times of medical inflation.

• The best cancer insurance plans cover various cancers at all stages. You have the advantage of reviewing the options and make a well-informed decision.

• Thus, this health insurance for cancer patients provides you with the much-required financial back-up and peace of mind that will enable you to think only about your health and not about finances.

This health insurance for cancer patients thus provides you with the much-required financial back-up and peace of mind that will enable you to think only about your health and not about finances.

Cancer Insurance vs Health Insurance

No one can deny that being financially prepared helps deal with unforeseen events like illnesses or injuries with ease. It is particularly true, given in the times we are living. New health risks pose roadblocks in the path towards our life goals. Thus, buying a health insurance plan is extremely crucial.

At the same time, if there are risks of cancer owing to environmental factors or family medical history, one should also consider opting for a cancer care insurance policy. It is essential as an existing health policy would prove inadequate to cover the various expenses related to cancer treatment.

Buying a comprehensive cancer insurance policy, such as the one offered by Care Health Insurance, is of utmost importance. A specific health cover for cancer scores over other health policies as the premium is affordable, and there is coverage available for all stages of cancer.

Why should one buy a Cancer Insurance Cover?

Cancer is a serious ailment, and the treatment is usually long-term. The disease may occur due to other reasons, even if you do not have a family medical history. Being financially prepared to deal with such uncertainties of life is a wise approach towards securing your future. In India, medical inflation has caused severe financial problems for many families. Due to medical advancements, there is a cure possible even for life-threatening diseases like cancer. Early detection is crucial as it helps in treating the disease effectively and prevents complications. However, the cost of diagnosis and treatment can be huge. Instead of depending on one’s savings, it is better to buy a cancer insurance policy.

A cancer insurance cover will provide coverage for expenses beyond in-patient hospitalization. It also offers cover for expensive medical procedures such as chemotherapy, radiotherapy, and organ donor cover. You can also get access to health services like Quick Recovery Counselling with a fixed amount per session, Global Coverage, Doctor on Call, and access to Health Portal.

How does Cancer Insurance Work?

To avail of the various benefits available under a cancer insurance policy, an insured person must pay the premium to the insurer. The medical expenses will be covered either through a cashless or reimbursement facility. Your ideal cancer protection plan should be selected based on increasing medical inflation.

To receive the coverage, policyholders will have to raise a claim within a specified timeframe. They must be aware of the policy terms, including the waiting period, co-payment clause, and exclusions that will be taken into account.

Let's understand how the cancer insurance plan works.

We shall explain by taking a case wherein an individual has opted for a cancer insurance policy. The relevant details of the policy and the insured person are as mentioned below:

Now, let us assume that this person was diagnosed with cancer at the age of 50 years. He underwent cancer treatment at the metro hospital, and the medical cost he incurred was Rs 70 Lakh. It is quite natural to feel stressed, thinking that the treatment costs have exceeded the sum insured of the cancer insurance policy he bought years ago. However, this worry will be short-lived if he realises that there is a feature of No Claim Bonus in the plan, because of which he became eligible to get an increased sum insured for every claim-free year. Owing to this feature, the sum insured of the policyholder, in this case, is now Rs 1 crore. Moreover, thanks to the lifelong renewability feature, he is stress-free about getting continued coverage and enjoying benefits like No Claim Bonus.

Since this cancer care policy is an indemnity-based policy, it would cover the actual medical expenses incurred by the insured. In this case, the expenses up to Rs 70 lakh would be covered, subject to the policy terms and conditions. The policyholder will have the balance amount of the sum insured available for additional treatment and future medical expenses.

Furthermore, if the treatment is availed at a network hospital, then the expenses will be covered on a cashless basis. In case the insured chooses a non-network hospital, he can raise a claim for reimbursement within the time specified.

How to Claim Your Cancer Health Insurance?

The policyholder can apply for a reimbursement claim where one has to submit the duly filled claim form and required documents, as per the policy terms & conditions. One can also avail of the cashless facility, which is available only at network hospitals. The policyholder has to notify us within 24 hours of emergency hospitalization and 48 hours prior to admission in case of planned hospitalization.

*Sum Insured – Rs.50 Lakhs, Age – 18 to 25 years, Monthly Premium Payment Mode including Optional covers included - Room rent modification/ Air ambulance cover/ ISO. Exl GST.