How can you choose the Best Cancer Insurance in India?
Regardless of any critical illnesses or serious diseases, cancer still remains the deadliest one with a high death rate. The name itself is enough to break a person mentally as well as physically. But in recent years, due to the advancement in the field of medicine and technology, it has been possible to treat cancer if it gets diagnosed at an early stage. Due to this, patients can now recover and get back to their normal life sooner than previously.
But this does not remove the high expense involved in the diagnosis and medical treatment of cancer which includes radiation, chemotherapy, surgery, or a combination of all. Research suggests that the total number of cancer patients in India by 2025 will be 15 lakhs. Accordingly, it is critical to have medical coverage that will extensively cover the high therapy costs related to cancer treatment.
Moreover, cancer is sometimes due to genetic and hereditary manifestations; it does not happen due to unhealthy lifestyles and habits. Early diagnosis and screenings after a particular age can assist people with identifying the beginning phases of cancer and increase the individual’s survival chances. In any case, strong financial support is required, and hence you need to make sure to opt for cancer health insurance wisely.
If you are looking to purchase cancer health insurance, you can decide the most ideal choice by gauging the accompanying pointers of various health insurance companies .
Also Read : A Detailed Guide On Cancer Health Insurance
Points to remember while buying the Best Cancer Health Insurance in India
1. High Sum Assured
The high treatment costs related to cancer cannot be ignored, which usually stresses out everyone. Hence the primary concern remains a high sum assured. Different health insurance providers provide different sum assured amounts; however, you need to pick the most suited policy. Assuming you are a metropolitan inhabitant, the expense of your treatment will be relatively higher than somebody living in a small town. Thus, it becomes important to pick a sum assured that is essentially 1.5 times the normal treatment costs. You should avoid buying common cover amounts like Rs 5 Lakh, and in case you are searching for a family floater choice, your sum assured should be at least 50% more than the average cover given by insurance companies.
2. Critical Illness Add On’s
You should look for a health insurance plan with a critical illness add-on as this feature generally covers illnesses like brain tumor, open-heart surgery, coma, bone marrow transplant, which can affect anybody anytime and is often helpful for cancer patients who may have other comorbidities.
In opposition to the well-known thought that health insurance providers pay all costs, co-payments are an element where you pay a part of the total treatment costs. Many individuals use this to decrease their premium amounts. However, in case you are looking for a cancer health insurance policy wherein the minimum expense is also very high, then you need to opt for such a health insurance plan which has no co-payment clause or low co-payment clause. A health insurance plan with a co-payment clause probably won’t be the most ideal choice for you to look for complete clinical and financial inclusion for cancer.
4. Prior Medical Conditions
You should know about your prior ailments and your family’s clinical history prior to applying for a cancer health insurance policy in India. In specific cases, the seriousness of the results, which can be a result of a critical illness other than cancer, doesn’t ensure a new cancer health insurance plan for an individual. Regardless of whether you are qualified for cancer health insurance or not, the non-disclosure of your pre-existing health condition can also result in the cancellation of your policy. Thus, you should be vigilant with regard to these conditions before you choose to put resources into a specific insurance company. Nonetheless, these days, some insurance companies do offer cancer health insurance, including prior conditions, yet at a higher premium price.
5. Waiting Period
All health insurance plans come with a waiting period, during which time you can’t make claims. Before completion of the waiting period. Consequently, while choosing a cancer health insurance plan which may require a prompt payout towards cancer treatment, it is recommended to select a health insurance policy that comes with a short waiting period. Various insurance companies have different waiting periods, yet sometimes the waiting period can go from a couple of months to around 2 years. You should count your needs with this specific angle to ensure maximum coverage and benefits.
We hope the pointers mentioned above will assist you with choosing the best cancer health insurance policy in India. Cancer health insurance policies provide strong financial support and cover regular hospitalization and treatment expenses. A cancer health insurance policy is nothing but a robust financial backup for those impacted with this deadly disease called cancer.
In case you are also looking for a cancer health insurance policy or want to gather more information on the same, then you can visit iiflinsurance.com and clear all your doubts by connecting with their insurance experts and opt for the right one for yourself and your family.