Cancer is one of the most dreadful diseases threatening the mankind today with its high spread across communities. There are more than 100 different types of cancer known today. The uncontrolled cell growth is caused due to lifestyle modifications, unhealthy environmental exposure to the sun and other radiations, chemical carcinogens, hormonal drugs, bacterial and viral infections, genetic disorder, or ingestion of excessive processed red meats.
Though the tragic condition is hard to bear, there are medicines and treatment options available in the modern era to fight cancer. The treatment is too expensive, which may shell out lakhs per month for treatment procedures. To encounter these costs, there are many cancer insurance plans readily available which can help you pay the medical bills and treatment cost without having a strain on your finances. However, before choosing any cancer cover plan, you should be aware of few important things that can help you take the right decision.
Know more about cancer insurance:
What is cancer insurance?
Cancer insurance helps the individuals with financial aid for the medical expenses and cancer-related treatments like radiation therapy, surgery, hospitalization, blood transfusion, prescribed medicine, and cancer care to name a few. Now, even corporates are offering cancer insurance to their employees to protect them from financial distress in case of unforeseen situation. The insurance provides support to the cancer employees and stretches required funds at different stages of diagnosis and treatment, be it a minor, major, or critical stage.
Benefits of the cancer protection plan:
Here are a few major benefits of cancer insurance:
- The cancer insurance plan covers almost all types and stages of cancer
- There are no restrictions. The lump-sum amount is paid to the insurer during the policy term if he or she is diagnosed with cancer.
- Medical costs are typically covered like co-pays, hospital stays, screening, tests, diagnosis, deductibles, procedures, etc.
- The coverage of non-medical costs like dietary assistance, lodging, child care, or travel depends on the kind of policy you buy. This helps ease the financial burden.
- Premium waivers are available when diagnosed.
The importance cancer insurance plan:
Protecting yourself from the rising cost of cancer care is the most important thing you need to consider. This helps to protect yourself and your family emotionally, physically and financially. There are several reasons to buy the cancer insurance plan and a few reasons to invest in the cancer policy are as follows:
- If your regular insurance plan doesn’t have cancer coverage
- If you don’t have enough savings to meet your medical and treatment expenses
- If you have any family history of cancer
- If you are the only earning member in the family
- Current booming cost of cancer treatment
- Provides tax benefits
Things to consider before choosing a cancer insurance plan:
Here are a few things you need to keep in mind while selecting a cancer insurance plan:
- Go for a plan that offers a high sum insured amount
- Pick a plan that provides coverage for a longer duration
- The plan should cover all stages of cancer
- Check the survival and the waiting period of the policy, that is, the amount of time you need to wait before the policy starts
- A plan that offers free cancer screening check-ups to look for the presence of cancer during the policy term
Final talk: Cancer insurance is one of the few precautions you can take to prevent yourself and your family from the stress and financial crisis caused due to its high costs for screening, diagnosis, treatment and other medical expenses. Purchasing the cancer insurance helps you get equipped with the required funds and seek better care and treatment. Corporate organizations can offer cancer insurance to their employees and their families to protect their health and wealth both at the time of cancer emergency.