Hyderabad:Many people with cancer may feel a lack of certainty about what the future holds. No doubt, people dread the name of cancer because, in recent times, the number of cases has gone up multifold. Forcing people to spend lakhs of rupees for treatment. Honestly, it is not affordable for all. Sometimes, even insurance policies couldn't cover the entire cost. It's high time to scout for cancer-specific policies.
It is learnt that cancer treatment could roughly cost Rs 20 lakhs. It could be more expensive in metro cities and cancer speciality hospitals. After being diagnosed with cancer, the cost of various tests could run into lakhs. Along with it, long-term medication will add to the costs. All these things will surely dent our financial position. Apart from cutting down our savings, we have to compromise on future financial goals as well. To avoid such tough situations, it is better to pick a cancer-specific policy along with a comprehensive health insurance policy.
Also read:Five things to do in your 20s and 30s to reduce your risk of preventable cancer
If you have a comprehensive plan that does not offer enough coverage against cancer, it would be prudent for you to buy a cancer special plan or a critical illness plan with good coverage against the illness. This will ensure that besides treatment costs, other associated expenses are also taken care of, such as non-medical expenses, including commuting for treatment, supplementary medicines household expenses etc.
The initial waiting period typically ranges from 90 days to 180 days from the policy inception date depending on the insurance company, during which the policyholder cannot make any claims. The survival period is the time after the first diagnosis of the disease during which the coverage does not work. If a person survives the period, then he would continue to require palliative care and have medical expenses covered. If not, then the cover is not required. The survival period can range from 30 days to six months.
It is better to take a policy that covers different types of cancers or tick a policy that covers a maximum number of varied cancers. Being a chronic and expensive illness, the policy amount should be on the higher side. The cost of surgery, chemotherapy, immunotherapy, and other treatments should be estimated and the policy amount should be decided accordingly.
To ensure that policy protection continues for as long as possible. Most policies now provide coverage up to the age of 80. Even if there is a health insurance policy, it should be understood that taking a cancer policy or a critical illness policy in addition to it is more of a necessity than a choice these days. Go through all the terms and conditions thoroughly before taking a call.
