One of the scariest medical condition diagnoses we hear about is cancer. These days cancer cases are rising in India. We see many young adults being diagnosed with cancer. The treatment of cancer takes a toll on your physical and mental well-being. Due to advanced healthcare treatments, the cost of cancer treatment has increased, too. Most insurance companies offer cancer care coverage which is beneficial for policyholders. In this blog, we will explain cancer care in family health insurance.
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When your loved one is diagnosed with cancer, you want to make sure that they receive the best medical treatment at reputed cancer care hospitals. The cost of medicines, treatment, and surgery will be high at these reputed hospitals, which adds financial strain. Therefore, it is advisable to buy cancer care in your family health insurance policy. It provides financial support to pay for medicines, surgery, chemotherapy, radiation, and treatment during all the stages of the disease. It covers non-medical expenses which are travel, hotel stay, and food and occur during the treatment.
It is good to buy cancer care insurance if you have a family history of obesity, cancer, and other chronic diseases. It can add to the financial support and offers you mental peace in case of a cancer diagnosis.
The projected cancer burden in India is expected to rise from 26.7 million DALYs (adjusted mortality to incidence) in 2021 to 29.8 million in 2025 - as per the National Centre for Disease Informatics and Research. These numbers are quite high and show the increased risk of cancer cases in India. So, it is best to add cancer care insurance to your family health insurance policy.
As cancer is a chronic disease depending on which stage you are diagnosed with, the treatment costs are very high and they can be in lakhs. Moreover, once you are cancer-free, you need to get the precautionary checkups done periodically to ensure your well-being. This can lead to increased medical expenses so it is necessary to buy cancer care insurance.
Insurance companies cover almost all types of cancer. If one is diagnosed with a malignant type of cancer, then it can spread to any part of the body. Cancer care insurance eases a significant amount of financial burden off your shoulders.
Your standard insurance plan provides you benefits for some medical conditions. However, they do not offer financial support for cancer and other critical illnesses. Therefore, you need to take a holistic approach towards your insurance plan. Cancer cover provides you financial support when you are diagnosed with this disease. It covers your medical expenses and non-medical expenses.
There is a waiting period of around 180 days from the date of policy purchase. A survival period of 7 days from the day of diagnosis of the disease is applicable. If a policyholder dies during a given time frame, the insurance provider is not liable to pay the benefit. The reason is that cancer coverage does not have a death benefit same as term insurance.
Some insurance providers do not cover a specific type of cancer such as skin cancer. Therefore, you need to read and understand these exclusions thoroughly before you finalise the insurance provider.
Cancer cover is considered to be critical illness cover, because of the nature of the disease. If you plan to take cancer coverage, then it can only be used for one disease. You can not use it for other life-threatening diseases.
Cancer cover offers you financial support during difficult times and helps relieve financial stress. Insurance providers cover most types of cancer in their cancer coverage with only some exclusions. With increased risks associated with cancer diagnosis and higher treatment costs, it is advisable to take cancer care coverage in your family health insurance. It serves as a financial back in case of an emergency.
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Reviewed by Dr. Harshita Dahiya 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
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