Why You Should Consider a Cancer Insurance Policy
Cancer is one of the deadliest diseases anyone could have. While the disease is stressful and fatal, the treatments burn a hole in your pocket. Today, the number of cancer incidences in the country has gone up as compared to earlier. This is the reason why insurance companies have now begun offering cancer insurance a lot more than they used to. This insurance policy supports a patient financially should he fall victim to this dreadful disease. It is a kind of special critical illness policy. Although they cover medical costs, cancer insurance plans do not have any death or maturity benefits.
Recent studies have shown that the incidence of people with cancer has been on the rise. About 17 lakh people in India have been reported to suffer from this deadly disease every year. This figure is estimated to increase to 17 lakh new cases and 12 lakh deaths per year. These shocking statistics should be reason enough for you to get yourself a cancer insurance policy at the earliest. However, before you delve into that, there are some things you should know about these policies.
Cancer insurance is known to safeguard one’s finances from all the costs a patient incurs during his brush with the disease. This covers the costs of medicines, hospitalization, surgery, radiation, and even chemotherapy. A few prominent aspects of a cancer insurance policy that you should keep in mind are as follows:
- • Age group
While the minimum age is 18 years, the maximum age to avail of cancer plans is 65 years.
- • Types of cancers covered
Different kinds of cancers like breast cancer, prostrate cancer, lung cancer, stomach cancer, and hypolarynx cancer are covered under the cancer insurance plans .
- • Different stages covered
A patient receives money from the policy at various stages of the disease. This spans from diagnosis and treatment to surgery.
- • Stages of severity
In order to make the cancer insurance policy benefit more accessible, the disease is divided into different stages of severity. These stages range from minor and major to the critical stage.
- • Premium waiver benefit
A few of these cancer policies also waive off policy premiums. However, this happens only when the claim under the major stage of cancer has been approved by the insurance company. This would also need the policy to be active with all the previously due premiums being paid.
- • Coverage
The coverage for cancer insurance may range anywhere between INR 5 lakh to INR 50 lakh.
While there are a number of companies in the Indian market that offer cancer insurance, HDFC Life Cancer Care offers different plans that range from silver and gold to platinum. Along with being comprehensive, these policies are cost-effective and go a long way in securing your family financially. So, opt for this cancer insurance policy, if you want the best for your family.