Do you know cancer ranks as one of the leading causes of death in many countries? According to estimates from the World Health Organization (WHO), cancer is the first or second leading cause of death before the age of 70 years in 112 of 183 countries.
Evidently, it is a much bigger threat than most of us like to believe. For this reason, it is important to protect yourself and your family from the heavy financial burden of this disease by buying a cancer cover policy. Buying a policy that can satisfy your needs is crucial. When you purchase a cancer cover policy, not only do you secure yourself from financial burden but also save your family from an economic crisis.
What Is a Cancer Cover Policy?
A cancer cover policy is a type of investment that takes care of your hospital expenses when you get diagnosed with cancer. A good Cancer cover policy helps you in handling medical treatment allowance and other non-medical expenses including transportation to treatment facilities.
It is important to understand exactly what cancer cover policy includes, what is excluded, and what is the waiting period and benefits of getting cancer insurance. Because there is no sense in buying cancer insurance if you cannot avail the benefits when required.
Despite that, selecting an excellent policy as per your needs demands extensive research and time. So, before purchasing a policy always look for the benefits that can be availed in a time of need. But don’t worry if you have no idea what to expect. Here, we have listed five benefits that you will get with your cancer cover policy.
1. Income benefit
Cancer cover policy offers an income benefit if the earning member of the family is diagnosed with cancer. The insurance company gives lump sums in different intervals to make up for the loss of income. Also, in case of the unfortunate demise of the insured individual, the family will keep getting income benefits subject to terms and conditions. In such a case, the nominee gets income every month.
2. Cover Expensive Treatment Cost
Cancer treatment is quite extensive and can cost you a fortune to get the best treatment. Depending on the severity of cancer, a patient undergoes various processes such as chemotherapy, radiotherapy, organ transplantation, and surgery. All these treatments are expensive and not everyone can afford them. Hence, a cancer cover policy with a sufficient sum insured can help you handle treatment costs without going into financial debt. Because, without sufficient financial backup, you may find it difficult to get the best medical care.
One of the most significant benefits of a cancer cover policy is to provide financial protection against the treatment cost without depleting your savings. Not only is cancer cover policy important but also it is the need of the hour, especially if you are the only earning member of the family. Cancer cover policy shields you and your family from increasing hospital expenses and secures your future despite an increase in the rate of cancer diagnoses. Thereby, it is appropriate to get insured to get covered in all financial aspects.
It is a bitter truth that cancer care is expensive and can create financial hardships for a patient’s family. Purchasing a cancer cover policy can be a huge financial relief. In the course of treatment, there will be many economic challenges that are likely to cause stress. Thus, to ease the burden of financial stress, you can purchase a care health insurance cancer plan that will take care of most of your monetary needs.
5. Coverage against different types of cancer
Currently, the cancer cover policy provides coverage against various types of cancer. It covers all the expenses incurred on the treatment of the disease along with the improvement benefit may vary. It generally includes Lung Cancer, Breast Cancer, Prostate Cancer, Stomach Cancer and Ovarian Cancer.