Cancer Coverage: Why Health Insurance Is Essential? Here Are 6 Key Reasons

While navigating through the complexities of the various products available in the market, making informed decisions becomes imperative to secure the best possible coverage for cancer treatment

Cancer-specific insurance plans often allow individuals to tailor their coverage based on factors such as cancer type, stage, treatment preferences, and financial capabilities.

Source : Getty

By Ajay Shah

Cancer Coverage: Ever increasing number of cancer cases in India present a challenging aspect of the nation's healthcare landscape. According to the National Cancer Registry Programme, India recorded about 1.46 million new cases of cancer in 2022. The report about cancer incidence estimates for 2022 and projection for 2025 suggests that one in nine individuals may encounter cancer in their lifetime, with lung cancer being predominant among males and breast cancer among females.

Alarmingly, cancer incidence is also rising among children, with lymphoid leukaemia being the most common type. With projections indicating a 12.8 per cent increase in cancer cases by 2025 compared to 2020, getting yourself and your loved ones a comprehensive health insurance for cancer has become extremely crucial.

While navigating through the complexities of the various products available in the market, making informed decisions becomes imperative to secure the best possible coverage for cancer treatment.

Listed below are factors one should keep in mind while purchasing cancer specific health insurance:

Comprehensive Coverage: Cancer treatments are multifaceted and can range from surgery, chemotherapy, radiation therapy to targeted drug therapies. Cancer-specific health insurance plans typically offer comprehensive coverage tailored to the needs of cancer patients for these long tailed treatments. It ensures that individuals get coverage for cancer diagnosis, treatment as well as post-operative care without enduring any undue financial burden.

Financial Security: Financial toll of cancer treatment can be overwhelming. Even with a primary health insurance, out-of-pocket expenses such as deductibles, co-payments and non-covered services can accumulate rapidly and cause financial burden. Cancer-specific health insurance provides comprehensive coverage, including expenses that may not be fully addressed by traditional health covers.

Access to Specialised Care: Cancer care often involves a multidisciplinary approach, requiring the expertise of oncologists, surgeons, radiologists, and other specialists. Cancer-specific health insurance plans typically include coverage for consultations with these specialised healthcare providers ensuring patients receive optimal care from experts in the field.

Pre-existing Conditions: Understanding a health insurance policy's stance on pre-existing conditions related to cancer is very important. One should clarify all doubts regarding any restrictions or limitations related to pre-existing conditions pertaining to cancer before buying a policy.

Healthcare Services: Beyond medical treatment, cancer patients may require support services such as counselling, rehabilitation, and palliative care. Cancer-specific health insurance may cover these services, addressing not only the physical but also the mental, emotional and psychological health aspects of cancer care.

Tailor-made Health Insurance Solutions: Every cancer journey is unique, and so are the needs of patients. Cancer-specific insurance plans often allow individuals to tailor their coverage based on factors such as cancer type, stage, treatment preferences, and financial capabilities.

While regular comprehensive Health Insurance products in the market do provide coverage for cancer and secure your finances against unforeseen medical emergencies, Cancer-specific health insurance plays a pivotal role in ensuring that individuals diagnosed with cancer can navigate through the nuances of the ailment with a more targeted approach.  These health insurance plans empower policyholders to navigate through their cancer journey with confidence and financial independence. 

The author is the head, distribution, at Care Health Insurance.

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