Cancer insurance: Secure Your Family’s Future Now

Cancer is a difficult illness to encounter. However, with early intervention and proper treatment, the patient has a good chance at survival and also complete recovery. There are many new and innovative ways in which cancer is treated these days. From radiation to surgery, there are several methods through which cancer is defeated. However, cancer treatment is expensive, and to ensure you can afford it if there is a need, you need a good cancer insurance cover. What is cancer insurance and why is it so important? Let’s find out.

Understanding Cancer Insurance

Cancer insurance is a specific type of health insurance where you can get coverage for the treatment of cancer. You get a lump sum amount of money if, as the policyholder, you get diagnosed with cancer. Cancer has different stages, so the payout also depends on the stage of the ailment when it is diagnosed. This apart, there are other features of a cancer insurance policy such as the waiver of the premium benefit and the additional payout option.

How Does a Cancer Insurance Plan Work? 

The cancer insurance plan works in the following way:

• Buy the Plan

Anyone over the age of 18 is allowed to purchase a  cancer insurance plan in India. The plan can be bought on an individual, as well as a family floater basis. 

• Make a Claim

If anyone of the covered family members is diagnosed with cancer, you can make a claim on the cancer insurance policy.

• Payout as Per Stage

If the cancer is detected at an early age, you will be eligible for a small percentage of the payout. A majority of the health insurance companies in India offer a payout ranging between 20% to 30% of the total sum insured when the cancer is detected early. If cancer advances, the entire sum insured is paid out. If the cancer is diagnosed at an advanced stage, the entire sum insured is paid in one go.

• Waiver of Premium

Most of the health insurance companies offering cancer insurance plans in India offer the waiver of premium benefits. If you are the sole breadwinner of the family and lose your livelihood due to cancer, the future premiums on the plan are waived off, while the cover stays in force. 

• Additional Payout

This is another handy feature where you get an additional 10% of the sum insured after the entire sum insured is paid out. This happens when the cancer is detected at a very advanced stage. The extra amount is given to work as an income replacement.

As you can see, there are some very handy features of cancer insurance plans.

Advantages of Cancer Insurance

Listed below are some of the top benefits of a cancer insurance policy:

• Financial Advantage

Cancer makes you very sick and you often lose the capacity to go to work and earn a regular salary. The coverage amount received from the cancer insurance plan at such a time proves to be very beneficial as you can pay your bills with it.

• Makes Cure Possible

Cancer treatment is expensive. Without the assistance of a cancer plan, affording the treatment may become difficult or even impossible. This is why you need to invest in a good cancer cover.

• Gives Peace of Mind

With a good cancer insurance policy in place, you stay assured of the fact that even if anything were to happen to you or your family, you will have the resources to deal with the situation and this offers immense mental peace.

These are some of the very important advantages and reasons why you should do your research and then get a good cancer insurance plan online.

Why Should You get Cancer Insurance for Your Family?

Here are some reasons why you must consider getting a cancer insurance plan online not just for yourself, but also for the entire family:

• Regular Health Plan, Not Enough

Many of the regular health insurance plans do not offer a substantial cancer cover. This is a very important reason why you need a good and comprehensive cancer insurance cover for all the members of your family.

• Cancer Can Affect Anyone

While illnesses such as cancer can affect anyone, some families are at a higher risk of getting the illness. If you are in a high-risk family, or you have a person in the family who is, getting the cancer insurance plans makes a lot of sense. If there is a family history and you have had older members of your family who died due to cancer, you also may be at risk. Then, if you live in an industrial area and have been exposed to chemicals and radiation on a regular basis, then you may be at a higher risk. And finally, if you are an active smoker or have been exposed to smoke a lot, you and your entire family may be at risk for cancer. No one can predict the onset of cancer, so it is always better to be prepared for it. 

• Offer Financial Cushion

The cancer protection plans offer a wholesome financial cushion and this is the main reason why you should think about getting such a policy.

Keeping these points in mind, you should definitely consider getting a good and comprehensive cancer insurance cover for all your family members.

The Final Word

A cancer insurance plan doesn’t just help in the treatment of the disease, it also offers much-needed financial support at the most crucial time. Worrying about money, especially when the family is going through a difficult crisis, can be very taxing. But if you have one of the best cancer insurance plans, these worries become less as you get all the financial help you need. With that, you can pay the medical bills and also take care of your other financial needs. This is a good way in which you can secure your family’s future so get a good cancer insurance policy without hesitation. As you can clearly see from the points mentioned above, there are many benefits on offer and you must grab them with both hands.