Reasons to Buy Life Insurance Policy With A Cancer Cover
Updated On Jun 15, 2021
Table of Contents
The emotional suffering of a cancer patient’s family increases tenfold due to the financial strain of high expenses involved during different stages of the treatment. Hence, besides following a healthy diet and regular exercise, a life insurance policy with a Cancer cover is among the best ways to ensure your family's financial protection in the face of this disease.
Purchasing an insurance policy for a diagnosed patient is quite tricky. Thus, procuring a health insurance policy with a critical illness cover before the diagnosis and ensuring protection in the event's occurrence is advisable. Read on to find more such reasons why you should purchase insurance with cancer cover.
Reasons To Purchase A Life Insurance Policy With A Cancer Cover
Here are some reasons why everyone should purchase an insurance policy with cancer cover -
1. Insurance For Different Conditions Under One Cover
Life insurance policies which come with a cancer cover provide coverage for almost all the common forms of cancer namely breast cancer, cervical cancer, ovarian cancer, colon and rectum cancer, lung cancer, liver cancer, testis cancer, stomach and oesophagus cancer, etc., irrespective of their stage, early or advanced. Moreover, by opting for a plan with a cancer cover you can ensure your financial stability as these plans usually offer broad coverage, ranging from Rs. 15 Lakh to Rs. 50 Lakh against varying cancer conditions.
2. Pay For Your Various Medical Expenses
A standard health insurance policy is often limited to hospital expenses, doctor consultations, remunerations and aid you to opt for cashless treatments. In contrast, a life insurance with cancer cover pays cash payments for expenditures relating to hospitalization, radiation, medical treatment, chemotherapy etc.
3. Special Benefits
These plans come with some special benefits such as waiver of future premium payments for cancer patients. Some policies also offer free cancer screening tests at hospitals and medical centres throughout the policy duration.
4. Post Hospitalization Costs And Care
A standalone Cancer life insurance plan offers a new lease of life to reduce 3-5 years of financial trauma that one may experience due to the shortage of adequate funds for recovery and post-hospitalization care of the patient. Moreover, you can also use the money to replace your earnings while not working.
Endnotes
Critical ailments like cancer are chronic with a slow recuperation rate. Therefore, you must be prepared to fight against the disease, both emotionally and financially. Hence, it is advisable to read all the terms and conditions of the comprehensive insurance policies and consult your family doctor on policy language, coverage, waiting period before making any decisions.
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