How is Health Insurance Important For Cancer Patient

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11 Jul 2023

Cancer Insurance Plan: Read about the importance of health insurance for a cancer patient. Understand how the critical illness cover can help you with expenses.

Cancer is one of the most dreaded diseases that often leads to fatal consequences. The treatment for cancer can be highly expensive; running into several lakh Rupees. If you or any of your family members is diagnosed with cancer, you may risk depleting your hard-earned savings on the treatment, which may derail your future financial plan. To avoid facing such unpleasant situations, it is paramount that you have a robust health insurance policy.

Today, many insurance companies offer health insurance plans that cover cancer to help the citizens tackle the problems of rapidly growing rates of cancer diagnosis and increasing treatment cost. Having a critical illness insurance that covers cancer can help reduce the out of pocket expenses associated with cancer treatment, such as hospitalisation expenses, medicines, chemotherapy, surgery, etc.

Let us look at the importance of buying a cancer health insurance policy.

If you have a family history of cancer, there is a high chance that you may get diagnosed with the disease at a later stage. And, instead of running from pillar to post at the last minute, it is better to purchase a health insurance plan beforehand. This will help get a financial cushion against the treatment expenses and you can continue to focus on your other investment goals.

Having health insurance coverage against critical illnesses like cancer can make a huge difference during an emergency. It is a known fact that the treatment of critical illness can deplete your entire savings. However, if you have a health insurance policy, you can be assured that you have sufficient financial resources to cover your medical costs.

It is better to choose a plan that offers a lump sum payout option so that you get the full sum insured when you are diagnosed with cancer at any stage, whether it is a minor or critical stage. You can use the payout any way you want from hospitalisation expenses to personal expenses.

If you already have a health insurance policy, you can consider adding a cancer plan as a rider. This will help get coverage for basic healthcare expenses like day care procedures, accidental injuries and cancer specific treatment within a single plan.

Over the past few years, the number of cancer cases registered have increased exponentially. Medical experts suggest that given the current lifestyle habits of the youngsters, the cases will continue to rise in the future.

Along with the growing risk of cancer, the cancer treatment cost has also increased manifold. Many factors determine the cost of treatment, like the state of cancer, the period for which you are hospitalised, and the need for post-hospitalisation treatment like chemotherapy or radiation therapy. However, you need not worry about such costs if you have a health insurance policy; the insurance company will take care of the expenses.

Generally, most health insurance policies cover all types of cancers, including lung cancer, breast cancer, prostate cancer, stomach cancer, ovarian cancer, etc., except skin cancer. However, it is advisable to carefully read the policy’s terms and conditions to know the exact types of cancer covered under the plan you want to buy.

Secure Your Future Now With Health Insurance Policy

Unlike other critical illnesses, cancer does not show any symptoms unless the condition has become serious. Hence, you must be well-prepared to face an emergency that may occur at any time. Also, the earlier you buy a health insurance policy, the lesser the premium.

You can explore the various health insurance plans from Kotak General Insurance , know the benefits and features and choose the one that best suits your needs. Visit the Kotak General Insurance website to know more about the plans.


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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.