Cancer is a grave disease that nobody wants to be diagnosed with. But it is also true that cancer cases are rapidly increasing. The only way to combat them is to have the best cancer health insurance that helps you get expert treatment on time and saves you from feeling the financial crunch of the treatment.
But what qualifies as the best cancer insurance? Read along to know the factors to consider before buying cancer health insurance.
What is Cancer Health Insurance?
Cancer health insurance is a critical illness insurance policy that provides financial assistance for various types of cancer treatments. In this insurance, the patient is provided with a lump-sum payment that covers almost all the treatment expenses, from hospitalisation to treatments.
6 Factors to Consider Before Buying Cancer Health Insurance
Read the Policy Coverage
Before you buy insurance for cancer, make sure to read and compare the policy coverage. Several provide cancer coverage regardless of type and stage of cancer and vice versa.
Thus, by reading the policy cover documents carefully and choosing the insurance that provides maximum cancer coverage, you can empower yourself and take control of your health and finances.
Make Affordable Choice
Do not think of high premium prices as a guarantee of quality services. Several companies provide the best coverage at affordable cancer policy costs. Thus, compare the premium prices of multiple insurance policies and choose the one that does not put a dent in your pocket.
High Sum Insured
The treatment cost of cancer can total lakhs. Thus, it is important to choose the cancer health insurance that can cover the inflated cost of treatment. By choosing high-sum insurance, you can get good treatment and therapies without feeling financial strain.
Waiting and Survival Period
Every critical illness insurance has a waiting period and a survival period. Cancer insurance companies have a waiting period from 30 days to a year; make sure to confirm what your waiting period will be.
The survival period is another clause to look out for; it typically states the number of days the policyholder needs to survive after a cancer diagnosis for the insurance coverage to be activated.
Good Network of Providers
Cancer treatment should only be done by specialists. Before buying cancer health insurance, find out the preferred network of providers, cancer centres and hospitals. Choosing insurance with a wide network of providers helps you get preference and specialised treatment from the best place.
Policy Inclusion and Exclusions
You must confirm all the cancer health insurance inclusion and exclusion points before buying the policy. Know the maximum benefits, like tests and treatments that are covered under the policy and the limitations of the insurance. Doing so will ensure that you choose the policy with maximum benefits and avoid any future conflicts during the claim process.
Wrapping It Up
A cancer diagnosis can come as a shock to anyone. It is a life-threatening disease that can take a toll on the physical as well as financial well-being of a person. With the best cancer insurance policy at your service, you can receive quick and timely treatment for this disease. Moreover, it ensures that you do not have to drain all your savings on treatment costs.
