Cancer tries hard to remain calm because when they are cornered and angry, they don’t know how to communicate.
Critical Illness Mediclaim covers some types of cancer however as it has coverage for other critical illnesses also this can restrict the amount of cancer insurance.
So, it is necessary to take Cancer Insurance. The reason is In India, in every 1 lac people 300 people are diagnosed with cancer. And believe me, to your surprise there are more than 100 types of cancer. Hence it becomes obvious to opt for Cancer Insurance. Till date, we have more than 17 crore people who has some or the other cancer
Every year over 12 lac new cancer patients are diagnosed and approximately 8 lac people die of cancer. Cancers of oral cavity and lungs account for over 25% of cancer deaths in males and cancer of breast and oral cavity account for 25% of cancers in females
The top 3 Cancer in men: Lip and Oral Cavity, Lungs, and Stomach, The top 3 Cancer in Women: Breast, Oral, and Lungs
From the year 2015 every year there is an increase of 20% in cancer patients till the year 2020.
Thus It is extremely important to understand about Cancer Insurance
What are the FEATURES of Cancer Insurance?
Day Care expenses are covered for the treatment which requires less than 24 hours of hospitalization like chemo, radiation, etc
Pre-hospitalization expenses refer to the medical cost incurred before the patient gets hospitalized due to the same disease.
Cancer Insurance covers the room rent expenses during the hospitalization period.
Cancer insurance covers the transportation charges pertaining to Ambulance and Air Ambulance. It’s important to check the percentage of expenses covered.
Cancer Insurance has the best feature in which the sum assured amount is immediately paid once it is diagnosed. The amount can be used as per your requirement.
Expenses incurred on organ harvesting and surgery are admissible under organ donor coverage.
Whenever we take cancer insurance please ensure that we should take at least Rs. 15 to 20 lacs as minimum coverage as per today’s medical expenses
What are the BENEFITS of Cancer Insurance?
In Cancer Insurance Lumpsum payout and Sum assured amount is paid immediately to the insurer after diagnosis. The insurer has the option of using the amount either for monthly expenses or for treatment.
In Cancer Insurance the insurance company waive of the future premium for 3 to 5 years depending upon the plan to ease the burden of policyholders
Monthly Income: Under Cancer Insurance, the Income benefit option a monthly income equivalent to 1% of the applicable Sum Insured would be paid out to you on the diagnosis of the listed major cancers for a fixed period of the next 5 policy years.
Continued Coverage: Pay zero premium after diagnosis and continue being covered for the entire policy term in Cancer Insurance
Covers Multiple Stages: Cancer Insurance restricts coverage for early-stage cancers to 20-25% of the sum insured. Later-stage cancer claims will be eligible for the entire sum assured minus claim paid out if any, However, some plans also provide a sum assured of 150% in case of major-stage cancer.
Cancer insurance covers many cancer in early and advance stages: Lung Cancer, Breast Cancer, Ovarian Cancer, Stomach Cancer, Prostate Cancer, etc.
