Cancer is among the critical diseases known to cause maximum deaths in the world. A poor lifestyle has led to an increase in cancer cases in India. Investing in health insurance is the best approach to manage expensive medical treatments involved in treating any illness, including cancer. If you are planning for investment for 2021, opt for a cancer insurance policy, a specific health policy that provides comprehensive cover for cancer treatments. It will open the doors for a secure tomorrow and provide the required financial assistance if unfortunately diagnosed with this dreaded ailment.
Before getting a cancer cover, there is one thing you need to do – that is, compare a few options to pick the right policy that fulfils your needs. Here are some significant points for consideration.
- Choose sum insured that helps you face medical inflation
We see an increase in medical inflation rate almost every year. That means the costs of cancer treatments, medication, and similar health care services can be expensive in 2021 that what was a few years ago. So, you must select a coverage amount that gives you complete protection. Also, choosing a high sum insured helps you in facing the effects of medical inflation. There are various leading health insurance companies like Care Health Insurance, where you can find a cancer insurance cover with high sum insured options.
- Check the policy coverage and benefits available
Whenever you pick any health policy, it is essential to get complete details about the features and benefits. The same applies to a cancer insurance policy. Get the best cancer policy covering hospitalization-related expenses, including ICU charges, room rent, ambulance, OPD expenses, pre-and-post hospitalization, day care treatment, alternative treatment, organ donor, chemotherapy, and radiotherapy. Moreover, look for benefits like no claim bonus and annual health check-up.
- Find out if the policy covers various cancers
There are various types of cancers affecting different people. Life is uncertain, and we cannot predict which illness may strike unexpectedly. Considering this fact of life, you must choose a cancer protection plan that safeguards you against various types of cancer at all the stages. It is the right way to prepare for any unforeseen event.
- Look for lifelong renewability feature
This feature is a boon for many policyholders. It helps one continue with the same health policy lifelong without ever having to purchase another cancer cover. The risks of several critical ailments, including cancer, increase as we cross a particular age. It means that the need for a health cover is high at this stage. Hence, the lifelong renewability ensures that we have a safety cover when there is an utmost need.
- Read the policy documents carefully
Before paying the premium and purchasing a cancer insurance plan, make sure you have thoroughly understood the policy terms and condition. More importantly, do not miss the waiting period. It is the time that you must complete before you can get a claim for the specified expenses. When comparing policies, check if the policy opted for has a minimum waiting period. Similarly, note the sub-limits and exclusions.
The need for a cancer protection plan is much more if you run the risk of facing this ailment due to family medical history, unhealthy lifestyle, environment factors, etc. If it is true, then do not waste a moment and secure your health and family’s future by investing in a cancer health policy.
