Why you Should Invest in Cancer Care Insurance

Health insurance can be a tricky thing to understand, there are a tonne of terms and policies that come along with your health insurance. Cancer care insurance is a type of health insurance. This type of insurance concentrates specifically on cancer treatment and procedure. If you are diagnosed with cancer during the term of your normal health insurance, it does not cover the specialized treatment that you require to beat the disease. The cost of this treatment and even the diagnostic tests can end up costing the patient lakhs of rupees. That is why one should consider investing in critical care or cancer care insurance.

It is important to know that a cancer care plan does not give you cover if any symptom relevant to cancer occur within 90 days of commencement of the policy. Even if you are diagnosed after the waiting period, your critical illness cover may not payout your claim until your cancer is in the advanced stage (critical illness does not cover cancer when it is still at its early stage). Critical illness cover can be bought as an individual plan or as a rider with your life insurance or family health plan.

Here are some important things you should know about cancer care insurance and how it can help you.

1.       Cancer Care Insurance provides a life insurance cover to the policyholder. This cover pays the nominee a certain amount of money in case of the death of the policyholder. This is a good way to secure your family’s’ future in case you don’t make it.

2.       A cancer care plan can be tailor made to meet the financial costs arising from the treatment required for your disease. You can either choose one or both heart and cancer cover in your plan. The policyholder will receive lump sum payments throughout the various stages of his or her treatment.

3.       A critical illness or cancer care plan will cover only the specific illnesses that are mentioned in your policy agreement. You can purchase specific critical illness or cancer care riders if you want to insure yourself against more than the specified illnesses. A critical illness is one that can be fatal.

4.       Even if you have regular Health Insurance, buying cancer insurance cover is a good idea because a lot of insurers do not cover major illnesses like cancer, heart disease or failure of a vital organ.