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Things You Should Know About Cancer Insurance Policy- My Insurance Bazaar

Things You Should Know About Cancer Insurance Policy- My Insurance Bazaar

Cancer insurance is specific type of health insurance covering only one specific critical illness .i.e., cancer. First of this kind of policy was launched by New India Assurance in collaboration with cancer society of India.

If you look at your regular health plan the same can also be effective for handling your cancer related expense and if the policy is supported by an add-on cover for critical illness the same can be made more effective but looking at the specific needs relating to treatment of cancer a separate policy serves the purpose better. In case the regular health plan is a family floater you cancer treatment cost can eat larger part of the sum insured making other members of the family in the uninsured zone.

Another drawback of your health insurance policy in case of treatment of critical illness like cancer is that they only cover things are a very advance level. This means that till the time cancer has not become malignant your regular policy will not cover you. If you compare things with a regular critical illness plan they only come with lump sum benefits and do not waive future premiums.

 ( Related Article – Are Single Disease Health Insurance Plans Effective For You? )

But if you are really looking at buying a cancer Insurance cover you should always look at below points to make an effective decision:

  1. Cancer insurance is a specific health insurance cover for cancer and is meant for a person diagnosed with cancer. So actually there is no waiting period which otherwise would have been there in case of a regular plan.
  2. All common forms of cancer are covered under a cancer insurance plan except Skin cancer
  3. All related costs relating to cancer treatment at various stages from diagnosis to final treatment are covered under the policy.
  4. The payout for the claims depends on the stage of detection and claims previously raised under the policy.
  5. You can also opt for free check up during the statement of illness or during the whole policy term.

Looking at the growing number of cancer patient in the country today plans like can be helpful. Moreover over the years as probability of getting a cancer has increased similarly the related health care cost has also increased. The cost of cancer treatment has increased at a much faster rate compared to regular medical cost inflation.

But before you buy cancer insurance Policy online you should be very specific about what you require and does the plan which you have selected fit exactly as per your requirement As till date very insurance providers are with cancer care products so it become critical to understand the fine print of the policy before you buy one .