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Cancer Insurance Policy

Why Do You Need a Cancer Insurance Policy?

Cancer is a dreadful disease with no vaccine that can threaten the foundation of your life and family. In India, sadly, over 17 lakh new cancer cases are expected by 2020, which is frightening. Due to a rapid increase in cancer diagnosis, including the costs associated with treatment and care, cancer insurance has become vital than ever. Cancer insurance is proliferating as a new fad in the health insurance sector. It has been introduced foreseeing the promptly increasing rate of cancer diagnosis in India. It is a specialized health insurance policy that offers coverage if you are diagnosed with cancer.

Cancer Insurance Policy

Getting diagnosed with cancer is worrisome, and the cost associated with its treatment and care is no less than a nightmare for middle-class people. Thus, it is useful if you take up a cancer insurance policy for you and your family.

The following are the best reasons to buy a cancer insurance policy

#1 Your family has a history with cancer

According to doctors and health professionals, if cancer runs in your family history, then your chances of getting diagnosed with cancer later in life also increases. The diagnosis and treatment for cancer require frequent visits to the hospital, filling up the weekly medicine supply, and other aspects. This may need you to spend a lot – the doctor’s fees, the medications, and additional treatment costs. Thus, you would want to be prepared if such a thing happens. Cancer insurance is the best health insurance policy to take care of the costs associated with your cancer treatment. It will not only prevent you from putting a dent in your wallet but also makes sure that you and your family don’t have to suffer financially in the event of a crisis.

#2 You have an adequate financial backup 

You never know the medical emergency you or your loved ones may have to face in the future. And truth to be told, dealing with a deadly disease like cancer can lead you to bankruptcy, depending on the severity of the disease. Having a cancer insurance policy as a backup for cancer treatment not only covers for the treatment but also ensures that you remain financially stable when you are going through such hardship. If you feel like you won’t be able to face a sudden financial crisis, you should choose a plan that offers payout options in a lump sum. In such a policy, you will be immediately paid in a lump sum if you are diagnosed with cancer.

#3 Cancer insurance policies insure for almost all types of cancer

Apart from skin cancer, cancer insurance plans in India cover almost all types of cancer. Moreover, one cannot avail a cancer insurance policy if the condition already exists.

Cancer covers can provide income for a specific period to ensure that you and your family are financially stable while you are undergoing treatment. There is a waiting period to make a claim, and you will have to submit the documents, including your diagnosis reports, bills, etc. to get the claim.

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