Health

Know Who Should Opt for Cancer Insurance Plans

Cancer Insurance Plans

Irrespective of age and gender, cancer and its treatment is taking a toll on people’s health and wealth. Cancer care that includes chemotherapy, radiotherapy, surgery, hospitalization, etc., can cost lacs of rupees depends on the patient’s conditions. No doubt, it can swipe the savings and create financial implications for the patient and the whole family. That is why a cancer insurance plans are a great to help. So, let’s understand in more detail why it is needed and who should opt for it:

Health Insurance for Cancer

Under this health insurance, cancer treatment expenses such as chemotherapy, radiotherapy, surgery, hospitalization, medicines, doctor’s visits, daycare procedures, etc., are covered. The policyholder needs to pay a certain amount of the premium to the health insurance company against the coverage. Additionally, cover for room rent, daily allowance, ambulance charges, preventive health check-ups are also provided under the policy coverage. It reduces your financial burden. The cancer policy premium is affordable and helps you to avail of the advanced treatment to combat the disease. 

What is the Need for  Cancer Care Policy?

According to the WHO report, one in 10 Indians will develop cancer during their lifetime. Additionally, the cancer treatment can go up to 8-10 lacs depending upon the city, treatment plan, and hospitals. Some can bear the expenses, but for some, it can derail the finances. So, it has become a necessity due to the following reasons:

  • Cancer incidences are increasing in India rapidly
  • Medical inflation and cancer treatment costs have become out of pocket expenses
  • Provide coverage for treatment and medication along with chemotherapy and radiotherapy cover
  • Cashless treatment facility for planned hospitalization or emergency
  • Help to keep your hard earn money for future 
  • Give peace of mind

Top Cancer Insurance Plans in India

Below are the top health insurance companies in India offer the best cancer insurance plans:

Company Sum Insured Network Hospitals
Aditya Birla Mediclaim Policy 10-30 lakhs 5850+
Bharti AXA Mediclaim 3-5 Lakhs 4300+
Care Health Insurance 3-60 Lakhs 8250+
HDFC Ergo Mediclaim Policy 3-10 Lakhs 10000+
Star Health Mediclaim Policy 1-25 Lakhs 8341+

Source: Companies’ Official Websites

Benefits of Cancer Insurance Policy

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Due to rising medical inflation and increasing cancer cases, you should immediately opt for health insurance regardless of your age. It always keeps you secure from the financial stress that any medical emergency can give you at any age. Listed below are it’s several benefits:

  • Cashless hospitalization facility in case of a medical emergency or planned treatment
  • Offers financial cushion during any medical exigency and protect from those out-of-pocket medical expenditures of cancer care
  • Offers additional benefits such as alternative treatments, ambulance cover, daycare procedures, annual health check-ups with lifelong renewability
  • Coverage for pre and post hospitalization expenses such as OPD expenses, diagnosis, doctor’s fee, medication, and more
  • Advance treatment facility within network hospitals in nearby locations
  • Affordable premium and EMI options
  • Tax benefits under Section 80D of the Income Tax Act of India 1961

Who Should Buy Cancer Insurance Plans?

A cancer insurance policy is helpful to all. However, people who fall under the below-mentioned category should opt for it: 

Working Females- As per the research conducted by the National Institute of Cancer Prevention and Research, one woman dies of cervical cancer every 8 minutes in India. Therefore, females need a safety shield that protects them from such diseases. Cancer insurance plans cover cancer care treatment costs, including hospitalization and medication, to improve females’ healthcare and mortality rates. Thus, working women or mothers should opt for this plan to stay in the pinkest of their health.

Men in 30s- Males who are in their 30s should opt for such health insurance. At times, they are the only bread earner of their families and have several financial responsibilities. As they are more vulnerable to different types of cancer, one-time hospitalization and treatment can cost a lacs of rupees, which derail their financials. Thus, they should opt for a health insurance plan that covers their medical expenses so that they can take care of their other responsibilities worry-free.

Cancer History in the Family- Irrespective of gender, people who have any cancer history in their families, should opt for the best cancer insurance plans. Expert says that at times diseases like cancer, diabetes, hypertension are hereditary. If the close family members such as mother, father, siblings, paternal, or maternal family members are diagnosed with any cancer, it increases the risk. Therefore, it’s advisable to stay protected with health insurance for cancer so that you can avail of timely treatment if required in the future.

Senior Citizens- Old age people are more prone to diagnose with such diseases. They should keep themselves secure with cancer health policy, especially when they are retired. This plan covers their on-going treatment cost, hospitalization expenses, and medication costs. It gives them a sigh of relief after retirement and helps them stay healthy with no financial obligation.

People with Wrong Habits- People who smoke or have high alcohol intake are more likely to develop cancer later in their lives. At present, the cancer treatment cost between 5-10 lacs. But as medical inflation is rising rapidly, the cost can go up to 20-25 lacs soon. So, such people are at high risk; they should opt for a cancer insurance plan to afford the treatment without financial burden.

Nutshell

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So, do not wait for the disease to knock on your door. If you feel you can get into such a complicated medical condition later in your life, opt for the best cancer insurance plans. The earliest you insured yourself, the sooner you can reap its benefits. It gives you a financial cushion during a medical emergency and helps you combat such a deadly disease.

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