Cancer is a very common word in the present era, where every day we get to hear a new case among close or familiar circles. The percentage of people suffering from this deadly disease is increasing day by day and medical treatments and expenses are certainly on the rise. As we know, normal hospitals do not cater to the complexities which cancer can present, hence requiring the services of multi specialty hospitals in most cases. The facilities and services rendered in big, corporate sector hospitals demand huge bills for processing cases further.
A normal health insurance plan may not provide all the specific benefits that an exclusive cancer plan could give us.
Here’s a look at some of the tailor-made benefits that only a cancer care plan can derive and what they mean to us:
1> Percentage of payouts in all the three stages of the disease:
Cancer detection for a patient can happen either in the early stage, middle stage or in the later stages. The percentage of reimbursement obtained from the plan at specific stages is very crucial and decides the attractiveness of the plan. Different plans provide different percentages of claim amount and that also depends upon the base plan chosen by the person.
2> Assurance of a fixed rate indexed sum, offering an addition to the basic cover every year:
An indexed sum is similar to the interest rates we got for our fixed deposits in banks. The only difference here is that we get the interest to our basic amount annually and the indexed sum keeps growing every year, but at a fixed rate. When we get an interest over the basic cover, it is a good bonus for the person and he receives increased sum every year. This indexed sum is also provided for a particular term and it is up to the plan provider to decide on the term.
3> Long term protection of the insurance cover:
Most insurance companies provide cover for a very long term, say about 75 years. These days, we see lifestyle related diseases on a steady rise. Women in their teens are prone to thyroid related disorders leading to fertility related issues and other complications. So, we understand the impacts which stress related factors can cause on one’s health. Cancer outbreak can happen at any age and hence an early cover proves very beneficial.
4> Early stage claims providing a full waiver for the rest of the term :
If an unforeseen situation arises where the person is diagnosed with cancer, but luckily is still in the primary stage, then a good claim can be expected from the insurance provider. Most plans opt to give a full waiver for the remaining term of the plan when a claim is made during the early stage of diagnosis of the disease. The duration when claims can actually be made after getting to know about the stage of the disease lies in the terms and conditions of the plan and varies with each provider. The number of days after which the claim has to be made should be carefully noted by the claimant to be able to receive the benefits and avoid paying a huge sum on the bills.
5> Income based payouts for a fixed number of years in case of death or policy maturity
In case of death of the insured person, the family suffers a total setback in terms of loss of the person. The loss is irreparable, but these plans provide a support system to the beneficiary or the family of the insured person by providing them income based payouts at regular intervals for a certain number of years. The same scheme applies if the insured person survives the whole term and then makes a claim thereafter for the termination of the plan.