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Best Health Insurance Plans From Top Insurers

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Cancer no more comes in rare diseases. Cancer has become the second biggest killer in India. The data recently released by the World Health Organisation (WHO) International Agency For Research On Cancer says that globally there are 18.1 million cases of cancer and 9.6 million death in the year 2018.

Out of this India Contributes around 2.25 million patients living with the disease according to CIPR. It was a time when cancer was incurable. We are grateful to the advanced technologies and the upcoming drugs that help cure cancer at the initial stage. It has come as a ray of hope for the families whose near and dear ones are suffering from cancer.

But the treatment of cancer is expensive and the medical bills become a dreadful nightmare to the patients. To solve this problem we have several health plans launched by the insurance companies in our country. Health Insurance plan can safeguard people both from the normal disease and the critical illness like cancer subjected to the terms and conditions of the plan.

Why Standalone Cancer Cover Plan Is A Wise Choice?

A normal health insurance plan provides coverage for general medical conditions and provides limited financial coverage. But in case of a critical illness like cancer, the standard health insurance plans will easily fail to provide the coverage you require to cure cancer. Even if you are financially well off, these types of critical illness can create a hole in your savings. 

Moreover, the validity of the standard health insurance plan is for a minimum of 1 year and a maximum of 2-3 years in case of a long term plan. Critical illness policy is, in the long run, depending on the terms and conditions of the policy. This is for the reason that the disease takes years to show symptoms.

It is always better to go for a standalone cancer insurance plan that provides you coverage in the form of a lump-sum amount that can prove beneficial in your treatment for the long run.

What Things Should Be Considered Before Choosing A Standalone Cancer Plan?

The availability of the cancer plan offered by the health insurance companies does not make it mandatory that you have to buy a policy. There are several other factors to be analyzed and considered before you choose one of the cancer plans. Standalone cancer insurance planHere are the things to be considered before choosing a standalone cancer plan.

Cancer In Family History

In case a person has cancer occurrence in the family history than s/he is considered to be more prone to the occurrence of cancer. Cancer has become a common disease in the present time. People with cancer in the family background need to be more careful of their lifestyle and should always have health insurance backups like standalone cancer insurance plans.

Too Much Tobacco Consumption

People who are into too much of tobacco consumption are surely heading towards danger. You come under a high risk of cancer occurrence. The awareness relating to tobacco consumption and occurrence of cancer has worked to an extent, still, people are found consuming cancerous tobacco.

In such circumstances, you should keep a backup of a critical illness insurance plan.

Exclusions

Always read the exclusions of the policy thoroughly as few of the health insurance companies do not cover specific types of cancer like skin cancer, and the insured is stuck in a problem at the time of claiming the policy. 

Moreover, the insured amount is decreased in case the cancer is detected in the early stage. So it is safe to confirm and buy a policy.

Disease-Specific Cover

The sum insured plays an important role in buying and claiming a policy. The standalone cancer plan provides the insured with the insured amount only for the critical illness and the amount can sum up to 60 Lakhs. Thus, be careful while choosing a plan and decide the insured sum wisely. 

The Waiting Period

There is a procedure in the health insurance companies according to which a waiting period of 180 days from the date of buying the policy and a period of 7 days as the survival period from the day of the diagnosis of the disease is provided. 

The cancer plan only provides treatment coverage and acts as a financial backup to the insured. It does not pay any lump-sum amount like term life insurance in case of death of the patient.

Conclusion

Changes brought in the lifestyle and food habits can lower down the chances of cancer occurrence. All you need to do is to keep yourself healthy and in case you have any family history record similar to cancer then it's always safe to buy a standalone cancer plan. This would provide you great financial backup.

References: http://cancerindia.org.in/cancer-statistics/

https://www.iarc.fr/wp-content/uploads/2018/09/pr263_E.pdf

Naval Goel is the founder of PolicyX.com. He is an Associate Member of the Indian Institute of Insurance`, Pune. He has been authorized by IRDA to act as a Principal Officer of PolicyX.com Insurance Web Aggregator.
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