Cancer, while being a fatal illness, can be treated if detected early, thanks to advances in medical science and technology. The procedure is undeniably difficult for both the patient and family members. A substantial portion of the financial problems can be alleviated by acquiring a health insurance plan that includes cancer coverage.
The following are the top four factors to consider while looking for cancer coverage in health insurance:
1. Standalone Cancer Insurance vs. Normal Health Insurance: In India, most regular health insurance policies cover hospitalization expenditures connected to cancer treatment, either as part of the main policy or as add-on riders.
However, these plans may not cover all non-hospital expenses, which can add up to a significant amount, particularly in the case of cancer treatment. Another alternative is to purchase specialist cancer insurance policies that give broader coverage, specifically for the treatment of this condition.
2. Lumpsum Payment vs. Reimbursement: The amount payable by the insurer might be a one-time set lump-sum payment upon diagnosis (as seen in most cancer insurance plans), or it could be a reimbursement of actual expenditures spent.
3. Cancer Kinds Covered: By default, not all health insurance policies cover all types of cancer. Even cancer-specific insurance policies would cover a preset list as established by the insurer. It is critical to review the list of exclusions to ensure that no cancer of personal concern is left out of coverage.
4. Cancer Phases Covered: Once again, the stages at which cancer is covered differ from plan to plan. Furthermore, many insurers mention the amount due at each level of detection, which is vital to keep in mind.