There are several types of cancer but the most prevalent amongst them is lung cancer in men and breast cancer in women. Therefore buying a cancer health insurance policy especially lung cancer insurance policy and breast cancer insurance policy makes sense in today's time because it helps you stay financially and mentally secure. Prevention is better than cure therefore cancer health insurance will safeguard your health as well as your savings as it helps you in paying for the diagnosis, oncological treatment and surgery of early and advanced cancer. These expenses are not covered by your usual medical insurance coverage.
There are several reasons why you should buy cancer cover insurance. Some of them are-
- Even though you might have a critical illness cover, it fails to meet the specific needs of cancer patients. A cancer health insurance is specially designed to meet the specific insurance needs of a cancer patient.
- It is very affordable.
- It covers most forms of cancer at both early and advanced stage.
- It provides tax benefits on premium paid up to Rs. 35,000 under section 80D of the Income Tax Act, 1961.
- It provides lump sum payout on diagnosis of major as well as early stages of cancer.
- There are several options of different schemes with different benefits offered by the insurance companies.
- There is a waiver on future premiums on receiving a valid claim of cancer diagnosis.
- In case of no claims, the sum insured increases by 10% annually under certain schemes.
- It offers premium discounts for sum insured above Rs. 10 lakhs.
- There is no need to undergo any medicals. You just have to submit a doctor approved good health declaration.
Some of the cancer insurance plans include free periodical cancer screenings at a partner diagnostic centre close to you to keep a track of your health to detect any early signs of cancer and to take immediate treatment for the same. Some companies provide coverage to the member as well as spouse and to two dependent children for a nominal additional payment.
This policy provides coverage for the treatment of cancer only and doesn't provide any other coverage such as maturity benefits etc. The premium can be paid on or before the due date and in case you were unable to pay the premium on time, you can still pay it within the grace period with penalty. If not paid within the grace period, the policy automatically lapses. It is sensible to buy a cancer health insurance policy because life insurance for cancer patients is not provided by any health insurance policy. Therefore a cancer health insurance is the surest way to keep you prepared against any cancer related eventuality.
Source : articlesbase.com
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