The word Cancer itself is horrible enough that it can scare anyone. But getting scared is not the solution. It is known to everyone that diseases are unperceived. So we must be prepared financially, mentally, and physically to confront it.
The current statistics signifies that the cases of Cancer have risen in India significantly. Studies also indicate that number of Cancer cases has been increased from 14 lakh in 2016 to 16.3 lakhs in 2019. India already has the 3rd highest number of Hematological Cancer patients.
So what one can do to meet the expensive treatment cost of Cancer. The answer is “Insurance Plan”. Knowing the current trend and studies, people must consider Cancer Insurance Plans for a safe future. Cancer Insurance Plans are offered by Life Insurance Companies. There are different companies in market with different plans.
Before proceeding in choosing an Insurance Plan one must keep few things in mind-
- It must offer payout benefits at different stages.
- Is there any waiver for future premium after disease diagnosis?
- Will it be a one-time payout or there will be payouts at all stages.
- Check whether the plan offers a fixed sum insured throughout the term or it has an increase in sum insured with a certain percentage say at 10%.
- After diagnosis will there be any regular income benefit as a fixed percentage of the sum insured.
- Check what is common in all plans and what is unique.
- If you are taking a Cancer Insurance Plan then check whether the companies provide insurance for all type of Cancer or not. As many companies don’t provide Insurance if a person is struggling with Skin Cancer.
- Individuals who want to purchase an insurance plan has to ensure that they are not suffering from the disease at the time of purchase. As the companies don’t cover the already existing conditions.
So keep the above points in mind before choosing an Insurance Plan for Cancer. Utilize your money in giving you and your family a safe and secured life.
List of the companies, which provide Cancer Insurance Plans-