Cancer diagnosis can be overwhelming and stressful in nature, and it is not to mention a great financial burden. A cancer insurance plan helps cover the costs of treatment, medication and eases financial stress during these emergencies. Read on to find out all about what a cancer health insurance policy entails.
What is the Cancer Protection Plan?
The cancer protection policy is a type of health insurance plan that supports individuals who have cancer.
It provides coverage for cancer diagnosis and treatment. It provides a lump sum payout to ease the financial burden that comes as a result of having cancer. Many insurers also offer this as a specialised Mediclaim Policy, designed to provide targeted financial support for cancer-related medical expenses.
Who is the Cancer Protection Plan Ideal For?
Here are a few situations which necessitate getting a cancer health insurance policy:
1. Cancer Runs in Your Family
Having a family history of cancer increases the chances of getting affected by cancer. Inherited gene mutations increase the risk of the development of cancerous cells in the body.
In this instance, having a health insurance policy that covers cancer treatment and medication costs can ease the burden.
2. Having an Insufficient Monetary Backup
The costs of treatment and medication for cancer are very high, and with rising medical costs, the same prices have increased even further.
A lump sum payout from health insurance can help cover costs of treatment, medication and help with living expenses.
3. Source of Income Replacement
Cancer treatment and chemotherapy can be disabling and prevent a person from living their daily lives. In such a situation where the person with a cancer diagnosis is unable to go to work, the lump sum payout can act as a much-needed income replacement.
What are the Features of a Cancer Protection Plan?
- No Requirement of Pre-Medical Screening – Considering the particularities and requirements of a cancer health insurance plan, there is no requirement of getting a pre-medical examination before opting for this policy.
- Term of Policy – The cancer health insurance policies are available for a term of one year.
- Entry Age – Any person between the ages of 5 months and 65 years can avail of this policy.
- Hospice Care – It refers to a compassionate care which focuses on the quality of life for cancer patients who are at advanced stages of cancer. The cancer protection plan also covers that.
- Wellness Benefit – This is a program which promotes, incentivises and rewards an insured person through a variety of wellness activities.
What are the Inclusions of the Cancer Protection Plan?
1. Pre and Post-Hospitalisation Coverage
The majority of cancer insurance India plans insurers provide coverage for pre- and post-hospitalisation expenses. It indicates that you get coverage for the days leading up to your hospitalisation and also after getting discharged from the hospital.
2. Road Ambulance Coverage
Expenses like these may seem small at first, but they add up later on to become a mountain of financial charges. However, a cancer protection plan provides relief from even having to pay that by covering these expenses.
3. Modern Treatment Expenses
There are various modern treatments for cancer out there currently. Expenses for them are also covered by a cancer health insurance plan.
4. Day-care Procedures
Day-care procedures refer to those that take less than 24 hours of hospital stay. A great example of such a procedure is cataract surgery. The day-care treatments are covered in a cancer protection plan.
5. AYUSH Treatments
The expenses of AYUSH (Ayurveda, Unani, Siddha and Homoeopathy) treatments are alternative therapies included in a cancer protection plan up to the sum insured.
6. Second Medical Opinion
A cancer health insurance policy covers the expenses of a second medical opinion from a doctor who is listed in the network of medical practitioners at the insurer.
7. Lump Sum Cover for Diagnosis of Cancer
Cancer protection policies pay a lump sum cover in addition to the basic sum insured at the recurrence of metastasis, cancer and a second malignancy that is unrelated to the first cancer.
What are the Exclusions of the Cancer Protection Plan?
- The expenses for dietary substances and supplements.
- Expenses for treatment for self-harm or injury.
- Coverage for non-allopathic treatment.
- Cost of plastic and cosmetic surgery.
- Infertility and sterility expenses.
Which Documents are Necessary for the Cancer Protection Plan?
Here are a few important documents to provide when applying for a cancer mediclaim policy:
- Proof of ID, address and age.
- Passport-sized photographs and bank statements.
- Medical reports that prove you do not have cancer at the time of buying the cancer protection plan.
The insurer you choose can ask you to provide additional documents depending on the case.
Final Words
A cancer protection plan acts as an essential financial backup against trying times. When selecting these health insurance policies, you need to make sure to go through the policy documents carefully. It can help avoid any surprises when you try to claim coverage for emergencies.
