A cancer diagnosis is a fear that comes reality, one nobody can anticipate. When a person is diagnosed with cancer, their goals and dreams are crushed, even if they have a family history of the disease. However, the availability of cancer treatment today gives many people peace of mind.
However, buying cancer insurance coverage in India is the greatest method to avoid emotional and financial stress nowadays, as a good cancer protection plan provides complete coverage for critical illnesses, including cancer, on an indemnity basis.
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What Are the Benefits of a Cancer Protection Plan?
- Cancer protection plans provide complete coverage for cancer-related issues and treatments.
- Most cancer protection plans include a premium waiver for a set length of time, such as 3 to 5 years.
- Some cancer protection plans even provide a fixed-term income benefit of up to 5 years to meet the everyday household costs, which is usually expressed as a percentage of the total sum assured.
- The coverage remains even after a cancer diagnosis at an early stage.
- Cancer protection plans come with tax advantages.
The Key Features of a Cancer Protection Plan
When it comes to a cancer protection plan, it is essential to consider the following features:
- Comprehensive Coverage – Be sure to select a cancer protection plan covering all medical expenses, including pre & post-hospitalization costs, in-patient hospitalization, room charges, nursing expenses, ICU charges, surgeon’s fee, doctor’s fee, blood tests, oxygen supply, OT charges, ambulance cover, and more, so you can stay financially secure.
- Day-Care Treatments- If you’re hospitalized for less than 24 hours, some plans include coverage for all the day-care procedures, so be sure to look for this inclusion when buying cancer insurance.
- Chemotherapy and Radiotherapy Cover- When purchasing a cancer protection plan, choose one that includes chemotherapy and radiotherapy expense up to the maximum sum insured. However, the claim can only be availed if the hospital permits it.
- Organ Donor Cover- Some cancer protection plans cover medical expenses arising from organ transplant/surgery, which is an added benefit you can consider, especially if you have a history of cancer in your family.
- Alternative Treatments- If you wish to have the option of seeking financial coverage against alternative medical treatments like Ayurveda, you can choose a cancer protection plan offering the same. However, this facility is typically available from the second policy year as a preventive precaution. Also, this benefit is only accessible once per insured person per policy year.
- Second Opinions- If you have any doubts about your diagnosis or treatment, or if you want a second opinion on your medical reports from a doctor in India, most insurers provide one for you without affecting your sum insured amount. Every insured person is entitled to a second opinion once per illness or surgery per policy year.
- Annual Health Check-Ups- An annual health check-up is a great way to stay on top of your health and monitor it, which is why it is best to opt for a cancer protection plan offering free annual health check-ups.
- No Claim Bonus- As per the No Claim Bonus, if you have a claim-free year, you are eligible to receive a bonus to celebrate your good health. However, the bonus is a fixed percentage (10 to 50%) of the total sum insured, depending on the plan and the insurer. Regardless, it is essential to choose a cancer protection plan offering a No Claim Bonus.
According to WHO, cancer alone accounted for 10 million deaths worldwide in 2020, which is why a cancer protection plan is the need of the hour today. However, it is also crucial to choose the right plan by opting for a reputed and trusted insurance provider like Care Health Insurance.
Super Mediclaim, offered by Care Insurance, is an apparent winner when it comes to choosing a cancer protection plan in India, owing to its low premium, lump-sum payment, and a slew of beneficial features such as simple claim settlement and more. So, go check out their website to know more, but don’t forget to explore all your options!