All you Need to Know About Cancer Insurance and Why it’s Important

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cancer-insurance

Cancer is among the deadliest illnesses today, and apart from being emotionally and physically draining, it takes a toll on your finances too. From diagnosis and treatment to post-treatment care, it is certainly an expensive illness to tackle. However, you’re sure to not want to compromise on the quality of treatment either. So, it is imperative that you buy health insurance with cancer cover or better still, a cancer insurance plan.

While having a rider to cover cancer expenses gives you some monetary relief, a standalone cancer insurance plan can give you access to a significant sum and more comprehensive coverage so that you don’t have to make any compromises along the way.

Take a closer look at why it’s so important to purchase a cancer insurance policy below.

Therefore, it is a good idea to purchase a cancer insurance plan, which is tailor-made for cancer treatment, especially if your job, lifestyle of family history put you at risk of contracting the condition.  

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Why avail a cancer insurance policy?

  • The sum assured by a basic health insurance policy may not be enough to cover cancer care expenses.
  • A health insurance plan with critical illness rider may cover only certain aspects of cancer treatment.
  • If you delay now and avail a cancer policy later, after you are diagnosed with the condition, it will be counted as a pre-existing condition. As a result your application for the cancer plan may be rejected or you may not be able to make a claim right away.

What does cancer insurance policy cover?

  1. Medical expenses associated with the diagnosis of cancer.
  2. Expenses related to treatment such as hospitalisation, chemotherapy, radiation and surgery.
  3. Loss of income owing to cancer.

Which types of cancer does a cancer insurance policy cover?

A cancer insurance policy covers the following types of cancers.

  • Stomach cancer
  • Prostate cancer
  • Breast cancer
  • Ovarian cancer
  • Hypopharynx cancer
  • Lung cancer
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To be informed of policy coverage, take a quick look at the exclusions in a cancer insurance policy.

What are the exclusions of a cancer insurance policy?

Typically, a cancer cover doesn’t include:

  • Skin cancer
  • Cancer due to sexually-transmitted diseases
  • Cancer due to pre-existing conditions
  • Cancer due to biological health conditions
  • Cancer due to nuclear contamination
  • Cancer due to radiation

However, all cancer insurance policies aren’t the same, and it is best to examine each one’s exclusions to understand the benefits, drawbacks and exact coverage.

Now that you know how a stand-alone health insurance policy for cancer can help you tackle the illness without any financial stress, shop around for the best cancer insurance policy in India and then choose one. For instance, reputed insurers like Bajaj Finserv offer Cancer Insurance that gives you a significant sum of up to Rs.50 lakh to get the right treatment. If you or your loved one is diagnosed with cancer, Bajaj Finserv will make a lump sum payment to you or give monthly payments to tackle expenses. Also, with cashless payments you don’t have to worry about complicated or tedious claim processing.

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But before you apply for a cancer insurance policy, be sure to check your pre-approved offer from Bajaj Finserv. By entering your name and mobile number you can apply using a customized insurance deal and get quick approval. In addition, Bajaj Finserv also allows you to use your pre-approved offer to access other health insurance policies, Pocket Insurance policies, loans and more.

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