Cancer is one of the deadly diseases across the world. In 2020 alone, nearly 10 million deaths occurred solely due to various types of cancer. It assumes immense prominence to get the best cancer insurance to stay protected.

Cancer insurance plans may be available in various quotes with diverse riders and benefits. This article details the things to consider before getting a cancer insurance quote.

What is cancer insurance?

Cancer insurance offers protection against the medical expenses that cancer treatment and diagnosis demand. Compared to traditional medical insurance, the best cancer insurance focuses on cancer treatment needs end to end and offers wider protection and coverage.

Things to consider in a cancer insurance

Before taking any form of insurance, it is vital to understand the limitations, regulations, and conditions. Cancer insurance is no exception to this. Inspect the following aspects while choosing cancer insurance:

Stage wise payment

Many cancer insurance providers pay claims based on the stage of cancer. Some providers may even add this to their exclusions. It is vital to understand the stage-wise payment the provider offers.

Pre-existing conditions

If your family or yourself have a cancer history, in most cases, it might not be easy for your profile to be accepted for insurance. You must make the existing health conditions clear while submitting the insurance application. Otherwise, it might show repercussions during the claim period.

Coverage on premium drugs

Basic cancer insurance may be affordable. However, such plans might not help cover chemotherapy and premium drugs. The best insurance plan might be on a higher-end as it covers chemotherapy and costly medicines used for cancer treatment. Hence, be prudent and opt for cancer insurance even though it is on a higher end of the premium scale.

Waiting period

The waiting period might be different from one cancer insurance provider to another. Ask your insurance representative about the waiting period of various cancer insurance policies before picking the best one.

Co-payment

Co-payment indicates that the individual and the insurance provider pay the amount in different ratios. There are also some insurance plans where the whole payment is done by the provider. Compare various plans for this co-payment feature and settle on the best one that aligns with your needs.

Post-treatment payment

Some cancer insurance plans come with the feature of regular payment for a fixed tenure after the treatment. This is helpful when the individual will be unable to work post-treatment. Cancer insurance policies with such riders are the best insurance plans.

Premium waivers

Like many other insurance plans, the best cancer insurance plans offer a premium waiver once the disease is diagnosed. The rest of the premiums are waived off while the protection and benefits continue throughout the treatment period.

Types of cancers covered

Various policies may cover various types of cancer. Before proceeding with cancer insurance, you must be clear about what types of cancer it covers and excludes. Generally, insurance providers do not cover the following cancer types:

• Skin cancer

• Congenital causes

• Cancers due to exposure to radiation

• Skin cancer

• Other reasons that might vary from provider to provider

Coverage amount

An insurance policy must meet the needs perfectly. Taking low premium policies might appear affordable. However, they may not suffice when in cases of emergency. Cancer treatment costs shoot up every year and almost double every ten years. Hence, even though the premium is higher, always choose a cancer insurance policy that offers wide coverage.

Treatment types

Most cancer insurance plans offer chemotherapy and radiation treatment coverage. However, they may not cover treatments that are experimental or non-conventional. Peruse the conditions that state the types of treatments you can claim the insurance.

Network

The hospitals that are approved under the insurance provider fall under are called the network. Most cancer insurance plans offer the choice of hospitals and do not restrict their network. However, checking beforehand the list of eligible hospitals will give you a clear idea when in time of emergency.

Insurance provides you the peace of mind assurance

In the modern-day, cancer might affect anyone. Taking cancer insurance helps to stay prepared in meeting the skyrocketing cancer treatment prices. Consult your insurance agent and take the best cancer insurance plan right now.