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Health Insurance for Cancer Patients Research Team | Posted On Tuesday, July 16,2019, 06:11 PM

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Health Insurance for Cancer Patients



Cancer is a life-threatening disease, which can devastate finances. Medical treatment is expensive and to protect finances against this life-threatening disease, you must purchase a cancer care plan.

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Health Insurance for Cancer Patients

Cancer Insurance:

Cancer is a deadly disease in which the body cells grow and divide abnormally destroying other tissues. Some types of cancer cells show rapid growth whereas some other types grow and divide at a slower pace.

Cancer can be of several types and some of them are specific to gender. Only men may be affected by prostate cancer, whereas women are affected by cervical and breast cancer. Some common types of cancers in India are lymphatic cancer, leukemia, lymphoma; lung cancer and so on. Cancer is spreading at a rapid pace and is one of the most prominent life-threatening diseases in India. 

See Also: Can You Get A Health Insurance Plan For Cancer Patients?

A person diagnosed with cancer not only goes through mental trauma, but his/her finances take a severe hit. Cancer care and treatment include chemotherapy, surgery, diagnosis and medication.

Sometimes, cancer treatment can drain the finances of a family and may also lead to considerable debt. A health insurance policy is the only way to keep finances stable, as well as avail cancer treatment at best network hospitals.

However, you cannot avail health insurance with cancer care for an already existing condition. A cancer care plan can be availed along with a basic health insurance plan as an add-on rider.

Some insurance companies also offer separate cancer care plans. However, you should not have been diagnosed with cancer, at the time of availing the policy. The right cancer care plan can help you avail the medical care and treatment at best hospitals across India. This helps recover and even lead a normal life, without putting strain on family finances.

Critical Illness Cover for Cancer Insurance:

Cancer care is included under most critical illness plans and the critical illness riders offered with basic health plans. However, the critical illness cover can only be availed if you are healthy and not diagnosed with a critical disease at the time of availing the plan. If the policyholder is diagnosed with cancer, then he will not be covered for this medical condition by his basic health insurance plan.

There are pre-specified waiting periods on health insurance plans for pre-existing diseases, which range from 2-4 years. The benefits of the health insurance plan cannot be availed before the waiting period.

If the policyholder is diagnosed with cancer within 90 days from the purchase of the rider, then the cover will be terminated by the insurer.

The critical illness plans offer insurance cover for cancer care only when it is at an advanced stage and does not cover the early stages. The critical illness cover can be availed with the basic life insurance cover. If you have family history of critical illnesses, then you can purchase these plans.

See Also: Health Insurance Benefits

Cancer Specialist Insurance Policy:

The critical insurance rider fails to provide adequate coverage to patients diagnosed with cancer. Moreover, the basic plan does not cover the medical expenses arising out of cancer. The reason why insurance companies have various terms for covering a life-threatening disease is because it is long term treatment and requires huge amount of funds.

So, the only alternative is to avail a cancer specific health plan. A cancer care policy is specially customized to take care of the insurance needs of cancer patients. However, the policyholder must not have any cancer while purchasing the policy. A cancer care plan covers both early and advanced stages of cancer. It allows both cashless payment and reimbursement facility. The cancer insurance offers insurance cover for diagnosis, treatment and surgery on being diagnosed with cancer.

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