Cancer can become a life-threatening medical condition if it is not detected on time. Some known cancers include lung cancer, stomach cancer, liver cancer, breast cancer, and cervical cancer among women. The treatments have become advanced, and with timely medical care, a person can hope to lead a healthier life once again. But, the costs can be higher than one can afford. Thus, it becomes necessary to get a cancer insurance cover. Leading insurers like Care Insurance offer affordable cancer policies that come with various benefits, which will help a person access health care without any financial worries.
Points to note when you are buying a Cancer Cover Policy
We now can find numerous cancer cover plans online. However, to select the best cover, go through this check-list that will enable you to get the right cancer insurance plan for you or your loved ones, which will give financial protection in the time of need.
Sum Insured
Since the cancer treatment costs in our country are high, considering that the treatment is long-term, one should get a cancer cover that offers a high sum insured. Hospital bills can range in lakhs. Additionally, there are related medical expenses. Having adequate coverage will cover such costs, thus preventing the need to spend money from your savings. You can compare various plans and go for an affordable policy.
Type of Cover
Before you select a cancer insurance plan, check the various types of cancers it will cover. Opt for the best option that gives you coverage for all the stages of cancer. It is vital for those individuals who are at higher risk of this disease. Also, there are some plans which provide a lump sum pay-out, while there are some that are indemnity-based plans. Make an informed decision only after you have done proper research.
Policy Benefits
The first thing you should check in a cancer policy is the features or benefits. The best cancer insurance, such as the one offered by Care Insurance company, includes coverage for in-patient and out-patient care expenses, doctor’s fee, ICU charges, room rent, medical expenses incurred during pre and post hospitalization, day care treatment, and ambulance costs. In addition to these benefits, a cancer policy will provide adequate coverage for advanced treatments, including organ transplant, chemotherapy and radiotherapy.
Waiting Period
Before you finalize any health insurance plan, including cancer insurance, read the policy documents. Go through the brochure and terms and conditions. It will help you understand the waiting period clause – the specific time you need to wait before getting a claim. Doing so will help you stay clear from any hassle or claim rejection and plan for any expenses you may incur before the waiting period is over.
Exclusions
In the waiting period, some expenses will not be covered, but only for a specified time limit. For instance, a policy will have an initial waiting period of 90 days, depending on the insurer. On the other hand, permanent exclusions refer to the scenarios or expenses that may not be covered at all. The exclusions include illness or injuries due to any breach of the law or self-inflicted injuries.
Conclusion
One cannot get a cancer plan if the person already suffers from the disease. Thus, it is wise to think about the risks and plan for the future. Uncertainties of life always prompt us to take action that will safeguard our future. Thus, investing in a cancer cover is one such step that will give you and your loved ones protection and peace of mind.
