Why You Should Have Cancer Insurance?


Being diagnosed with cancer is a nightmare for anyone and is followed by physical and emotional turmoil. The only relief comes from the availability of cancer treatments.

However, the cost of these treatments and medicines is skyrocketing and is out of reach for many. The general insurance policy does not cover all the expenses related to cancer treatment.

Hence, there is a need to have the best cancer insurance to cover your expenses and provide you with much-needed peace of mind.

With the increase in the number of cancer cases each year, having cancer insurance is essential. Let us discuss reasons to have cancer insurance in more detail.

1) Increasing number of cancer cases

According to WHO, one in six deaths occurs due to cancer. The above data is enough to prove that this critical ailment is very common.

Also, we are constantly exposed to risk factors that cause cancer, such as wireless radiations, unhealthy diet, obesity, sunlight, tobacco, and alcohol consumption.

With the increasing g number of cancer cases each year, it is imperative to have a cancer policy. The policy will cover your expenses, and you will continue to receive your treatment without an excessive financial burden.

2) Rising prices of cancer treatment

Along with the increasing number of cancer patients, there has also been an increase in the cost of cancer treatment. The cost of treatment depends on several factors like stage of diagnosis, duration, and method of treatment, etc.

Chemotherapy, radiotherapy, surgery, and transplants are some treatment methods for cancer. These medical procedures can be very costly.

Also, apart from this, a significant amount of money is spent on hospital bills and medical expenses. Therefore, to maintain your financial stability in the battle against cancer, it is crucial to have cancer insurance.

3) Cancer insurance covers all types of cancers.

Cancer can affect different parts of the human body, and for some patients, it remains undetected until it reaches the advanced stages. A specific insurance policy for cancer ensures that the expenses will be covered irrespective of the stage the cancer is detected.

Your policy papers will contain an exhaustive list of different cancer types covered by the insurance. In most cases, it includes Lung cancer, Breast cancer, Colorectal cancer, Liver cancer, Ovarian cancer, Stomach cancer, etc.

4) Supplementary to the existing policy

Getting a specific insurance policy for cancer can provide you with additional financial support. If you have a general health insurance policy, you can still take a cancer insurance policy.

Sometimes the general insurance has limitations on claims depending on the stage of diagnosis. Also, the insurance claim may not be sufficient to cover all costs of the ailment.

Hence, it is advisable to take a cancer insurance policy that will supplement the claim value from your health insurance policy. It will also cover you irrespective of the stage of cancer.

However, it is important to read the policy carefully to understand all the inclusions and exclusions from the insurance benefits.

5) Insufficient financial backup

As we mentioned earlier, the expenses on cancer treatment are increasing rapidly. A sudden diagnosis and increase in medical bills can push you and your family on the verge of bankruptcy.

Many people have faced large debts and had to sell their private property to sustain the financial battle against cancer. If you do not have sufficient financial backup, a cancer insurance policy can be a boon for you and your family.

You can opt for a policy that pays a lump-sum benefit on the cancer diagnosis, and you can use the amount on your hospital bills, travel expenses, or other major expenses as and when required. Also, some policies provide you with a monthly amount for a given period.

These are some of the reasons why you must choose cancer insurance. Also, if you have a family history of cancer, choosing cancer insurance becomes imperative to manage the financial burden accompanied by the ailment.

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