In India, cancer patients are growing at an alarming rate, and it is continuously growing. As per the reports of the National Cancer Registry Programme, the enormous growth of new cancer patients has seen a rise of 1.5 million. The cancer not only takes a physical toll but also breaks you down on financial grounds. The impact of cancer treatment on financial and emotional levels can challenge the family as well as the patients, which is why Cancer Health Insurance In India is crucial to safeguarding you and your family from financial constraints. The plan ensures that the medical cost of cancer treatment is paid, from the checkup at the primary stage to chemotherapy and post-treatment care.
However, if you want to know more about cancer insurance, get in touch with us at 7838077767 to create a future with financial freedom.
What is Cancer Health Insurance?
Cancer Health Insurance is specialized insurance for cancer treatment. It helps policyholders lower the financial burden of cancer treatment. The cancer health insurance in India offers coverage for pre-hospitalization, surgery, chemotherapy, medical costs, and post-hospitalization. This financial safety safeguards you against financial burden in uncertain times.
The primary focus of cancer health insurance in India is to offer a complete spectrum of medical expenses. Moreover, cancer insurance extends its coverage not only for immediate treatment but also for the progress after the treatment; it believes in ensuring proper care at a later stage.
Key Features of Cancer Health Insurance Plans in India
Cancer health insurance in India has several features to make an essential financial plan. Also, it offers some additional valuable features.
Sum Insured
Cancer health insurance in India offers a significant sum insured, which can range from Rs. 10 lakhs to 50 lakhs, according to the plan and sum insured has been chosen. For the prolonged treatment of the cancer patient, then the sum assured is crucial to safeguard the policyholder and family members from financial breakdown.
Staged Payout
Cancer insurance offers payouts for various stages of cancer depending on what stage the cancer was diagnosed.
- Early Stage: if the cancer is diagnosed at an early stage of the cancer, then a percentage of 25%–30% of the sum assured is given to the policyholder.
- Major Stage: If the patient is diagnosed with cancer at a later stage or major stage, the remaining sum assured is paid to the insuree to provide complete financial support at critical times.
Coverage for All Stages
The cancer treatment offers various stages of treatment coverage.
- Early Stage: The initial stage of cancer where the cancer is diagnosed is covered.
- Major Stage: This stage offers coverage on the extended basis of the advanced cancer stage, which also includes metastatic cancers.
- Critical Stage: Some plans offer terminal stage coverage, which also covers the palliative care cost.
Waiver of Premium
One of the unique features of cancer insurance plans that some of the cancer insurance offers is that the plan is the waiver of premium benefit. This means that if the policyholder is diagnosed with cancer, all future premiums will be waived; afterwards, the coverage will be the same and continuous. It will work the same, ensuring that the financial burden does not force the policyholder to burn out and lighten the treatment throughout.
No Claim Bonus
Some cancer health insurance in India offer a No Claim Bonus (NCB) every year, so if the policyholder does not claim or file to claim, then the sum insured will increase by some percentage. This offers added protection to the policyholder, which will eventually increase over time.
Income Benefit
Some insurance companies offer an income benefit in the form of a monthly payout, which will financially support the patient and the family during cancer treatment. This is extremely beneficial for patients who are unable to work while undergoing treatment or recovering from cancer treatment.
What Cancer Health Insurance India Covers?
In India, most cancer health insurance policies pay for a large range of treatment-related costs. These include the following:
Diagnosis Expenses
At the time of diagnosis of the cancer, the initial cost includes biopsy tests, CT scans, pathology reports, etc. Cancer insurance also covers all these diagnostic costs.
Hospitalization and Surgery
As cancer is a critical treatment, it requires treatments at various hospitals, multiple surgeries, or reconstructive procedures. The insurance covers all the costs of the hospitalization and surgeries.
Chemotherapy and Radiation
In cancer treatment, the two most common cancer treatments are chemotherapy and radiation therapy. These treats are often expensive and must be done multiple times. Under cancer health insurance in India, the therapies are covered completely.
Pre- and Post-Hospitalization Expenses
Almost every cancer insurance has coverage of pre-hospitalization expenses and post-hospitalization expenses. Pre-hospitalization includes tests and consultation expenses; post-hospitalization includes follow-up treatments, medications, etc., but this is also included for the specified period.
Palliative Care
Palliative care includes where the cancer patient reaches the terminal level. This includes relief from the cancer treatment and the patient from the recovery from the treatment and quality of life.
Why is Cancer Health Insurance in India Important?
The expense of cancer treatment can be quite expensive. Healthcare facilities in private hospitals with many advanced treatments can charge lakhs of rupees for extended cancer care, even though government hospitals provide some financial relief. Without adequate financial support, patients may face difficulties continuing essential treatments or even opt for lower-quality care. This is where cancer health insurance comes into play.
Rising Cancer Incidence in India
According to the World Health Organization’s (WHO) estimation, cancer cases have the possibility of increasing further; this can rank among the top causes of death in India. The rising case of cancer treatment makes proactive financial planning through cancer health insurance.
High Treatment Costs
The rising cost of cancer treatment in India differs on the basis of the type and stage of the cancer; the treatment costs between ₹5 lakh and ₹25 lakh. Cancer Health Insurance India helps reimburse the costs that are connected with costly procedures like radiotherapy, chemotherapy, and surgery.
Comprehensive Coverage
A health insurance policy specifically designed to cover cancer offers complete protection from the time of diagnosis to post-treatment care, unlike regular health insurance, which might not cover everything related to the disease.
Mental and Financial Peace
In addition to offering financial security, a cancer health insurance plan gives patients and their families emotional comfort, allowing them to concentrate on their recovery rather than financial stress.
Exclusion of cancer health insurance in India
Cancer insurance has several benefits, which can safeguard the patient from all financial breakdowns; however, before choosing the right cancer insurance plan, it is essential for everyone to check into the policy document and thoroughly understand the exclusions.
- In cancer treatment, the initial waiting period to claim the benefits is 90 days. The insurer cannot cover the expenses if the policyholder is diagnosed with cancer within the waiting period.
- Any cancer illness caused by the usage of tobacco, cigarettes, or alcohol is not considered or basically excluded.
- The cancer insurance does not include any treatment other than cancer, such as plastic surgery or similar treatment.
- Under cancer insurance, any hazardous activity and incidents are completely excluded.
Final Thoughts!
Cancer Health Insurance In India not only causes physical damage to the person but also affects the financial stability of the family. As healthcare prices rise enormously, it becomes essential for people to buy cancer insurance. Cancer insurance offers a financial shield against cancer treatment, ensuring patients have better treatment facilities and do not drain their savings.
Choosing a cancer health insurance plan in India will protect you and your loved ones from the crippling financial burden that cancer can bring. These policies provide comprehensive coverage from diagnosis to recovery, allowing patients to focus on their health instead of financial worries.
Lastly, if you want to save yourself from uncertain medical costs, then get in touch with us at 7838077767 to create a future with financial freedom.
FAQ
It offers complete coverage for procedures, radiation, chemotherapy, and other cancer-related treatments. It focuses exclusively on the financial burden associated with cancer.
Pre-existing cancer conditions are typically not covered by cancer health insurance, and there may be a waiting period.
Yes, after a cancer diagnosis, many policies waive future premiums. The patients don’t have to pay any further premiums but get all the insurance benefits.
Yes, to improve financial security, cancer insurance should be added to your standard health insurance. Cancer insurance can also offer aftercare and financial security even while you are recovering from the treatment.
The majority of policies guarantee financial support during treatment by offering lump-sum payouts at various stages of cancer. This can help to cover all the treatment and post-treatment care.
Depending on the policy, waiting periods usually last between 90 and 180 days after taking the insurance.