Moneycontrol
Last Updated : Nov 04, 2018 10:41 AM IST | Source: Moneycontrol.com

Health insurance plan or cancer plan — which one to choose

There is no doubt in saying that cancer carries a significant healthcare cost which can add up at the time during the course of the year.

Representative Image
Representative Image

Naval Goel

“Health is like money, we never have a true idea of its value until we lose it.”

It is clear that it is not only about having a healthy body, but also about having a healthy mind. In simple terms, a good health is all about the condition where your body and mind function properly. These days when the environment is so polluted and people are dealing with the issues of improper diet, mental stress, unhealthy lifestyle, lack of hygiene, etc, it becomes too difficult to balance a healthy and happy life.

On one hand we have growing number of health related issues and on the other hand we have rising cost of healthcare. That makes it difficult for a person to take the required treatment on time. In the last few years, the way of living has totally changed and several people are ignoring the importance of healthy living in one way or the other.

Have you ever thought that what you will do if you get diagnosed with a critical disease such as cancer, which requires an appropriate treatment on time? And don’t forget that the cancer treatment also involves huge cost. How will you manage funds to get the treatment on time?  Invest in a health insurance with cancer benefits today or go for a cancer-specific plan.

Why go for health insurance with cancer cover?

“Breathing should not be there at the top of your expenses list” that’s why, investing in an effective health insurance plan is something that you should do today, especially those who are dealing with a high-cost chronic disease like cancer. These days, it has become a matter of concern that most of the individuals and families who are dealing with cancer do not own an effective health insurance policy and do not have sufficient funds handy to get the treatment done. The reason behind it is a lack of awareness of options available. In India, insurers understand the need of having cancer specific plans or health insurance that can provide coverage against cancer as well. There are multiple health insurance plans that can help you to fight against cancer. You just have to pick the right one for yourself or your loved ones.

There is no doubt in saying that cancer carries a significant healthcare cost which can add up at the time during the course of the year. So, while you are planning to buy a health insurance plan with cancer cover then it is essential for you to consider all of the factors that can affect the cost of the plan that you are looking for, including premium, deductible, and co-pay or coinsurance amounts. If you are not aware of how much you need or facing any kind of trouble then it is advisable for you to go for an effective online insurance web aggregator who can help you with free health insurance quotes.

Types of cancer covered by cancer insurance plans:

Following are the different kinds of cancer covered under Cancer Insurance Plans:

• Lung cancer
• Stomach cancer
• Breast cancer
• Prostate cancer
• Ovarian cancer

• Hypolarynx cancer

Following are some of the features and benefits of cancer insurance plans:

• Cancer insurance policies will be there to provide cover against multiple stages of cancer.
• In such cases where the person gets diagnosed with cancer during the policy term, then he/she would be liable to get the lump sum amount.
• If the person is diagnosed at an early stage, he/she can ask for a waiver of premium under certain conditions.
• If the policyholder does not file any claim during the entire policy year, the sum assured will be increased by a pre-determined percentage.
• All policyholders who have been insured for more than a certain amount can avail premium discounts.
• If you get diagnosed with cancer in the later stages, then you will receive monthly income for a certain time period subject to specific situations.
• Insurance cover will be there to support even after the first diagnosis.

• Cancer insurance plans are liable to avail tax benefits under Section 80D of the Income Tax Act.

Conclusion

Nothing is more important than your health and never will be. So pay attention today and use every possible way to secure your health in every possible manner. Invest in an effective health insurance plan today and also consider to add critical illness plans in your investment portfolio such as Cancer insurance to beat unwanted medical emergencies.

The writer is founder and CEO of PolicyX.com
First Published on May 25, 2018 07:48 am

tags #insurance

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