Cancer Insurance — Understand How the Policies Work

The manner in which we manage our lifestyle and inevitable stress of everyday life makes us susceptible to various kinds of critical illnesses. Cancer is one such illness that affects the young as well as old and wrecks havoc with your life. Although treatment is available, it can be a costly affair, which can take a toll on your savings. Having the best cancer insurance policy in India ensures you are covered against such pitfalls. Here is how a cancer policy works.

#1. A Cancer Insurance Policy Works for All Stages of Cancer

Generally, a cancer insurance policy offers protection for all stages of cancer. It also covers a majority of the prevailing cancers. While there are some plans that do not require you to pay any premium after a diagnosis, there are others that offer a specific amount of income for a certain period. This ensures financial aid for your family.

#2. The Benefits Offered

You need to understand the total benefit under a particular plan as well as the type of benefits you obtain at every stage. You also need to find out whether the sum assured is fixed all through the term or whether it increases every year till it accomplishes a certain fixed limit.

#3. Other Factors to Keep in Mind

You need to understand certain aspects before purchasing a policy. These include: 
  • The maximum term of the policy and maturity age
  • The sum insured
  • The payment schedule and coverage offered
  • The waiting period and survival period
  • Duration of the policy
You need to carefully read the fine print of any policy before saying yes to one. Now that you are aware of the major aspects of a cancer insurance policy, you have an idea about how the work. This makes it easy to opt for the best cancer insurance plans available.

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