Does Health Insurance Cover Cancer?
Most people find the cost of a cancer diagnosis to be a considerable financial burden due to the high treatment costs, regular check-ups, and medicines involved. To cover such costs, availing of health insurance can be an ideal method. Almost all major insurers cover cancer in their plan, including hospitalization, surgeries, chemotherapy, radiation therapy, medications, and supportive care services.
However, the coverage is only available to individuals diagnosed with cancer after they have purchased health insurance. Also, the coverage tends to vary based on certain terms, which tend to differ across providers.
Continue reading to learn more!
Factors to Consider While Choosing Cancer Health Insurance Plans
A cancer health insurance plan is a specialized medical insurance that gives you financial cover when diagnosed with cancer. Here are some factors that one must keep in mind before buying:
●Waiting Period
Most cancer insurance plans include a waiting period clause, which refers to the time period that must be completed before claiming coverage. Most insurance providers will not entertain claims for cancer coverage for 90 days. However, this duration can vary across plans and insurance providers, so read the policy terms carefully.
●Comprehensive Coverage
Prefer policies that offer comprehensive coverage for various cancer treatments at different stages, like chemotherapy, surgery, radiation therapy, and medication.
For instance, Star Health provides the Star Cancer Care Platinum Insurance Policy, a comprehensive plan that covers medical expenses for both cancer and non-cancer ailments.
●Lump Sum Payout
Insurance providers pay a lump sum upon cancer diagnosis to cover treatment costs. However, this depends on the policy terms. Some plans even provide a lump sum payout for metastasis, recurrence of cancer, or a second malignancy which is unrelated to the first cancer.
●Sum Insured
Sum insured refers to the coverage amount the insurance policy covers upon a cancer diagnosis. Make sure to get a policy with sufficient coverage to pay medical bills and other financial obligations.
The Star Cancer Care Platinum Insurance policy can be availed of by anyone aged between 5 months and 65 years, and it offers a maximum sum insured of ₹10 Lakhs without any mandatory pre-medical test.
●Benefit Vs. Indemnity Plans
An indemnity-based health insurance plan covers the actual cost of cancer treatment up to the assured limit of the policy. Meanwhile, a benefit-based insurance plan provides a lump sum payout upon diagnosis of cancer. Choose the policy wisely, considering your needs and financial requirements.
Types of Cancer Covered Under Cancer Insurance Plans
Cancer insurance plans provide coverage for major types of cancer, such as:
●Breast Cancer
●Ovarian Cancer
●Lung Cancer
●Stomach Cancer
●Hypolarynx Cancer
●Prostrate Cancer
Inclusions and Exclusions Under Cancer Insurance Plans
Understanding the inclusions and exclusions will help you make an informed choice while buying a cancer insurance plan. Check them out below:
Inclusions
●Hospitalization and inpatient services
●Chemotherapy and radiation therapy
●Medications and prescription drugs
●Diagnostic tests and imaging expenses to monitor cancer progression
●Surgery and surgical procedures
●Supportive care like home health care and hospice care
Exclusions
●Skin cancer
●Cancer arising due to sexually transmitted diseases, HIV, or AIDS.
●Congenital conditions or pre-existing medical conditions leading to cancer
●Biological, nuclear, or chemical contamination causing cancer
●Radiation exposure resulting in cancer unless for diagnostic or therapeutic purposes
●Costs for experimental or investigational treatments
●Expenses for aesthetic cosmetic procedures
●Alternative medical expenses like the cost of therapies that are not essential for medical care or medical costs not related to cancer treatment
Selecting the right health insurance plan can help you bear the hefty expenses of cancer treatments without exhausting your savings. With the Star Cancer Care Platinum Insurance Policy, you also get cashless treatment access in 14,000+ network hospitals across India.
Call us today and enjoy comprehensive protection!
Related Health Insurance Products
Day Care Treatment and Procedures
/health-insurance/daycare-treatment-and-procedures/
Right age to purchase Insurance
/health-insurance/what-is-the-right-age-to-purchase-a-health-insurance-plan/
Free-look Period in Health Insurance
/health-insurance/free-look-period-in-health-insurance/
What is IRDAI
/health-insurance/what-is-irdai/
Comprehensive Insurance Policy
/health-insurance/comprehensive/
Insurance For Endometrial Cancer
/health-insurance/endometrial-cancer/
Buyback P.E.D. in Health Insurance
/health-insurance/buyback-pre-existing-disease-cover/
Health Insurance on EMI
/health-insurance/health-insurance-on-emi/
Cancellation in Health Insurance
/health-insurance/cancellation-policy/
Cost of Surgery in Insurance
/health-insurance/cover-the-cost-of-surgery/
Outpatient Care Health Insurance
/health-insurance/outpatient-care/
Spinal Cord Injuries Treatment
/health-insurance/spinal-cord-injuries-treatment/
Health Insurance Proposal
/health-insurance/health-insurance-proposal-form-insurance/
Mental Health Coverage
/health-insurance/mental-health-coverage/
Health Insurance for Tuberculosis Patients
/health-insurance/health-insurance-for-tuberculosis-patients/
Limb Lengthening Surgery Cost
/health-insurance/limb-lengthening-surgery-cost-in-india/
This FAQ page contains information for general purpose only and has no medical or legal advice. For any personalized advice, do refer company's policy documents or consult a licensed health insurance agent. T & C apply.