How to Get Cancer Insurance?

Best Cancer Insurance Plans

Cancer is one of the leading causes of death worldwide, accounting for millions of lives lost each year. The management of this disease also requires long-term treatment, which generally results in high treatment costs.  

In this regard, a well-chosen cancer insurance policy will help you manage the high costs associated with diagnosis, treatment, and post-recovery care. However, selecting the right plan requires careful evaluation of several key factors. Keep reading this guide to choose the right plan for your needs.

What Are the Factors to Consider to Get Cancer Insurance?

You can get cancer insurance by evaluating multiple factors, such as:

1. Waiting Period

Before your policy starts covering cancer-related expenses, there is a waiting period. This is the time you must wait before making any claims. Always check how long this period lasts before choosing a plan.

2. Coverage Scope

A strong cancer insurance plan should cover all stages and types of cancer. Review the policy details to confirm whether treatments like chemotherapy, radiation, and surgery are included.

3. Policy Exclusions

Every insurance policy has certain exclusions—medical conditions, treatments, or expenses that won’t be covered. Go through the fine print to understand what is excluded to avoid surprises later.

4. Lump-Sum Payout Option

Some cancer insurance policies of Star Health offer a one-time payout upon diagnosis. Depending on the plan, this amount may be given as a lump sum or in instalments. Ensure you understand how payouts work.

5. Sufficient Sum Insured

Your sum insured should be adequate to cover medical expenses and other financial commitments. Some policies offer a fixed payout upon diagnosis, while others provide coverage based on expenses incurred.

6. Financial Security

A good cancer insurance plan does more than cover medical costs—it also provides financial support in case of income loss due to illness. Look for policies that offer extensive protection.

7. Quick Policy Issuance

Many insurers now offer instant policy issuance, meaning your coverage starts within hours of applying. Choose a policy that is easy to purchase and does not involve lengthy approval processes.

8. Cost of Cancer Treatment

Cancer treatments can be expensive and long-term. Your health insurance should cover hospitalization, medications, and post-treatment care to ease the financial strain.

9. Affordable Premiums

While affordability is important, do not just opt for the policy with the cheapest premium. Ensure that the plan provides sufficient coverage for a reasonable cost based on your age, sum insured, and policy benefits.

10. No-Claim Bonus (NCB)

Some insurers reward policyholders with a No-Claim Bonus (NCB) for every year they do not file a claim. This increases coverage without extra charges.

11. Claim Settlement Ratio

A high claim settlement ratio indicates an insurer’s reliability. Always check how efficiently an insurer processes claims before buying a policy.

12. Co-Payment Clause

Some policies require you to share medical expenses with the insurer through a co-payment clause. While this lowers your premium, it could mean higher out-of-pocket costs if you need treatment.

Which Cancer Insurance is Best?

One of the best cancer insurance plans available is the Star Cancer Care Platinum Insurance Policy. Here are its key highlights:

1. No Mandatory Medical Tests

Unlike other health insurance policies, this plan does not require a pre-medical examination for individuals seeking coverage. This makes it easier for cancer patients to avail of health insurance benefits.

2. Lump Sum Benefit

A lump sum payout (optional) is provided in cases of cancer recurrence, metastasis, or the detection of a second, unrelated malignancy. This helps policyholders manage the high costs of prolonged cancer treatment.

 
3. Specialized Coverage

This policy is uniquely tailored for individuals diagnosed with cancer. It offers protection for both cancer-related treatments and other medical conditions, ensuring all-around healthcare support.

4. Hospice Care Support

The policy includes financial assistance for hospice care, focusing on improving the quality of life for individuals in advanced stages of cancer. This ensures that patients receive compassionate medical and emotional support during critical times.

Choosing the right cancer insurance policy can safeguard you from unexpected medical expenses and financial strain. The Star Cancer Care Platinum Insurance Policy stands out as a specialized plan offering extensive coverage for individuals diagnosed with cancer.

Call us now to get a customized quote for cancer insurance!

Also Read:

→ How to Get Tested for Cancer Without Insurance

→ What are the Main Factors that Determine the Cost of Cancer Treatment

→ What are the Stages of Lung Cancer

→ What are the Stages of Ovarian Cancer