Protect your Health and Finances with the Right Health Insurance Cancer Policy

As soon as cancer is diagnosed to any of our relatives, the first reaction of friends and family is of tension. Cancer has not only taken the lives of many people over the years but has also left families in debt. With the growth in medical science, cancer is now a curable disease. It is no longer deadly if diagnosed at an early stage and treated with the best professionals and technology. This blog will improve your understanding in terms of managing your finances for major diseases like cancer.

Health Insurance for Cancer Patients

Diseases like cancer require out-of-pocket expenses, which affect your savings negatively. Such health conditions degrade your health and finances at the same time, making you even weaker. To prevent such a situation in future, you must invest in good medical insurance for major diseases, especially cancer. Mentioned below are two insurance policies you can consider:

Critical Illness Plan

A critical illness insurance plan ensures you get coverage for almost all types of cancer. It provides a lump sum amount which is equivalent to the sum insured on the diagnosis of the disease. The coverage under this policy is available to those who are not diagnosed with cancer yet. An already suffering patient with cancer will be denied coverage.

It can be bought as an individual insurance plan or as a rider with your regular medical plan. There is a waiting period of generally 90 days after buying the policy. You can not make a claim before the completion of the waiting period. Most critical illness plans usually cover cancer in the advanced stage and not in the early stage.

Cancer Insurance Policy

As the name suggests, a cancer insurance policy is specifically designed to provide coverage to people suffering from cancer. This policy covers both the early and advanced stages of cancer. Most cancer plans do not offer coverage to patients already having pre-existing cancer conditions. However, there are a few plans available which consider existing cancer patients with a small amount of waiting period.

Cancer Policies for Individuals

There are many insurers providing quality health insurance services with high customer satisfaction indexes. Here are some of the best cancer policies for family:

Aditya Birla Activ Secure - Cancer Secure

This plan covers all the stages of cancer, including early, major and advanced. Here are some key features of the plan which you must consider:

• Lump sum payment
• Short survival period
• Tax benefits
• E-Opinion option
• 10% bonus for claim free year
• Coverage for the whole family

Niva Bupa CritiCare Insurance Plan

Niva Bupa is one of the leading healthcare insurance providers. It has been serving its customer for years with critical insurance cover and offers the best cancer policy for family. One such plan is CritiCare, which is a critical insurance plan that safeguards your family against 20 critical illnesses, including cancer. Here are the major features of the same:

• 100% lump sum amount on diagnosis of cancer
• Cashless claim settlement half an hour
• Long-term policy discount
• Renewability option for a lifetime
• World wide coverage

Care Cancer Mediclaim Policy

The policy covers the expenses involved in the diagnosis of cancer along with the treatment, such as OPD cost, hospitalisation cost, therapies, etc. Here are some major features of the plan:

• Covers all stages involved in cancer
• Cashless treatment
• Does not require pre-policy health check-up
• ICU charge limit is zero
• Covers AYUSH treatment
• No claim bonus

Bajaj Allianz Criti Care

This plan offers coverage for about 42 critical illnesses along with cancer. It also provides 100% of the sum assured on the diagnosis of cancer of a particular severity. Here are some features of the plan:

• Provide coverage for cancer, including other critical illnesses
• 7/15 days of survival period (uncertain)
• Renewability option for lifetime
• Provides coverage for cancer reconstructive surgery
• Provides tax benefit

New India Assurance Cancer Guard Policy

It is specifically designed to provide support to cancer patients. It provides cancer care benefit if the insured is diagnosed with cancer for the first time and is at stage IV of the disease. Mentioned below are some features of the same:

• Requires no pre-policy medical check-up
• Covers the whole family
• Provides post-treatment follow-up cover
• Gives cumulative bonus
• Provides organ transplant cover

Bottom Line

One needs to understand that cancer diagnosed at an early stage is curable, and there is no need to worry about it. As the cost of treatment is high, to avoid the sudden drain of wealth on the advanced treatment, you must consider buying a cancer insurance policy for future emergencies. Niva Bupa is among the market leaders in providing high-quality healthcare insurance services. You can choose from a variety of plans the company offers considering the various requirements of the population. After all, no amount of money is more than human life!

FAQ

Why is insurance necessary after a cancer diagnosis?

Cancer treatments are expensive and long-term. Insurance helps manage these costs, allowing patients to focus on their recovery. It prevents significant damage to personal savings and avoids financial panic in emergencies.

What is the benefit of a lump sum payout plan?

A lump sum payout provides full insured money immediately upon diagnosis. This ensures uninterrupted access to treatment without requiring repeated claims for each medical expense incurred.

Are OPD visits and tests covered under cancer plans?

Some specialised cancer plans cover outpatient consultations, pathology, and diagnostic tests. These features vary by provider and plan type, so it is wise to review the benefits beforehand.

Is a cancer-specific plan better than general health insurance?

Cancer plans focus only on cancer-related treatments and often cover all stages. If cancer runs in the family or you're high-risk, a dedicated plan may offer broader protection than a general plan.

Is there any waiting period in cancer insurance?

Yes, most cancer insurance plans have a waiting period before coverage starts. This is typically ninety days, but may vary depending on the insurer and the specific product terms.

Can I claim for chemotherapy sessions under these plans?

Yes, chemotherapy and radiation therapies are often included in cancer policies. Depending on your plan, this may be covered either through reimbursement or as part of a cashless hospitalisation benefit.