Important Benefits of Health Insurance for cancer patients

Health insurance

Cancer is a disease that sends shivers down the spine and frightens people, putting them under enormous financial stress and mental anxiety. Be it your relative, friends or a known one, it is painful to know about somebody diagnosed with this brutal disease. Considering the life-threatening nature of this disease, people look for the best health insurance. You should opt for some of the best cancer insurance policies in India that can protect the family against financial burdens effectively. 

What is a Cancer Insurance policy?

Cancer insurance is critical illness insurance under the health insurance category. It gives the insured a sense of financial and mental security with a lump sum payout on the diagnosis. India’s best cancer insurance policy covers various costs associated with the disease treatment, including hospitalisation, surgery, radiation, chemotherapy, etc. Generally, these policies cover the disease at both early and advanced stages. However, the lump sum may be based on the severity of the illness, depending on the terms specified for the health insurance cover. 

Why do you need a Critical Illness Insurance policy? 

Before the development of medical science, premature death and leaving your family in trouble without financial backup was probably the main fear, and life covers or general family health insurance plans were not enough. Now medical technology can cure life-threatening ailments like cancer but it requires substantial financial support. A health insurance policy is the solution to cope with such critical illnesses. Therefore, a critical illness insurance policy is helpful and certainly required.

Why is Health Insurance important for cancer patients?

Being diagnosed with cancer is a painful journey for the patient and family members. Following are the main reasons that make health insurance plans essential for cancer patients: 

  • Financial support 

Cancer treatment is expensive. Surgery, medications, and diagnostic costs are high. These expenses can exhaust all the savings quickly. Despite advancements in medical technologies, most cancer patients come to know about the ailment later. At this stage, the treatment cost is much higher. It is also a fact that cancer patients often do not have access to quality treatment facilities near their home or even in a nearby city. It is hard to afford the cure, and many people are often left burdened with rising costs. The right health insurance policy can provide the insured with good financial support during such critical situations.

  • Multiple payout options and 100% payout 

Health insurance covering cancer (Critical Illness Insurance) secures you and your family members from the financial implications of critical illnesses. Most insurance companies provide a lump sum of the sum insured on cancer diagnosis, sometimes even 100%. The insured can avail a certain percentage of payout at each stage, for example – the insured can avail payout once the critical disease is diagnosed, after surviving 30 days of being diagnosed, and more. The assured sum differs according to the chosen plan and the insured’s age. 

  • Quality medical treatment 

It is of utmost importance to get quality treatment for a critical illness like cancer. With the right health insurance policy, you need not worry about the quality of treatment as your insurer would have tie-ups with reputed hospitals. If you cannot afford the medical expenses at quality hospitals, your family health insurance plans can provide adequate financial support and get the best treatment effortlessly. 

  • Affordable health cover 

A health insurance policy premium is affordable to bear the vast costs of such critical illness treatment. You can pay for the policy in installments. Also, you need not pay interest if you miss an instalment and make the payment within the specified relaxation period.

  • Hassle-free claim process 

When you are going through mental, physical, and financial stress due to such critical illness, a cashless claim settlement helps you focus on recovery only. Your insurance provider settles the bills directly with its network hospitals.

Thus, critical illnesses exhaust savings in no time, and such situations worsen when the patient is the only earning hand in the family. Then, your health insurance protects you and your family from the financial implications.


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