Does Health Insurance Cover Cancer

Unlike other diseases, generally, there is no single reason or cause for developing cancer. One might suffer from cancer due to various reasons, like, genetic, environmental, or specific constitutional characteristics of an individual. There are rarely any preventive measures that one can take for cancer. Unfortunately, if any individual is diagnosed with cancer, he/she might end up spending the lifetime savings due to the high treatment cost involved. Due to the rising medical cost and the treatment's criticality, it is essential to always stay financially prepared to get your treatment done on time.

Factors To Keep In Mind Before Buying Cancer Insurance Policy

You can even buy cancer insurance online, but it is important to check a few things before you apply for one:

• Sum Insured 

With the advancements made in India's medical industry, the cost of medical treatment has also increased. While keeping this in mind, it is important to choose the sum insured appropriately, such that you can deal with the illness without any additional financial burden.

• Features 

It is important to ensure that you go through all the specifications of the cancer insurance plan in advance and choose one with maximum inclusions.

• Types and Stages of Cancer 

Before you buy cancer insurance online, it is preferable to check the types and stages of cancer covered under the insurance plan. You can compare cancer insurance plans across various providers and choose one with broader coverage.

• Waiting Period 

Before applying for the claim, the waiting period for cancer insurance should be completed. Therefore, ensure that the waiting period is not too long.

• Term for Renewal 

It is important to check the maximum age of renewal and other terms, such that you can continue renewing your policy over a longer period and get a considerable amount if anything unfortunate happens.

• Claims Procedure And Claims Payment

You need to follow a hassle-free and straightforward process for settling the claim:

• Claim Notification 

A written claim or notice should be submitted within 7 days of the potential loss or when the loss begins. In any event, this should not be delayed for more than 30 days.

• Submission of Claim Form or Evidence 

The claim form, along with the documents required for evidence, should be submitted within 30 days of the loss. Nonetheless, if you are able to furnish a valid reason for not submitting the documents on time, your claim might not get rejected. Usually, this is acceptable if the circumstances were not under the control of the insured.

• Supporting Documentation and Examination 

All the documents and medical records related to your treatment should be submitted within 15 days of your discharge from the hospital. Failing to submit the same might be acceptable under exceptional circumstances.

• Claim Settlement 

If all the documents are found to be valid and credible, we will provide you with the claim in a lump sum as soon as possible.

Conclusion

A basic health insurance plan only covers the cost of hospitalisation. It will not be able to meet the high costs of chemotherapy or radiation therapy, which is why critical care insurance for cancer treatment is necessary.

Also Read: 

How To Choose Health Insurance

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