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What are the Benefits of Buying Cancer Insurance?

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Of all the serious and expensive medical conditions that people face in their lifetime, cancer is one of the most common illness that happens to many. Many cancer patients are diagnosed with this illness much later into the stage, thus leaving you helpless when it comes to paying for treatments and hospitalization. To prevent such a situation, get yourself a good insurance for cancer that will keep you financially secure in the event of such an issue. As we all know that treating cancer surely does take a toll on us monetarily, and this burden is an on-going thing. With a reliable cancer insurance plan, you can be sure to witness its benefits for a brief amount of period.

Cancer insurance was not designed to replace your conventional health plans. Instead, this type of insurance is meant to supplement conventional policies by offering coverage for a disease that is often associated with high medical costs. If you are at a higher risk of being diagnosed with cancer based on your family history and lifestyle habits, then a cancer policy could help when you would need it most. However, if you have been previously diagnosed with cancer, you are likely not qualified for a cancer insurance policy.

Furthermore, while cancer insurance plans are offered by several insurance companies, it is important to do your bit of research and get a brief understanding about what exactly is insurance for cancer and what are its benefits. Some of the common benefits that most cancer insurance plans offer include:

  • Most plans cover multiple stages of cancer
  • A lump-sum is paid out on cancer diagnosis to the particular policyholder
  • There is a premium waiver which is available under certain conditions such as during early stage cancer diagnosis
  • If there are no income claims during the year, the sum assured increases by a pre-specified percentage, based on the insurance company and plan
  • A specific monthly income is paid out for a quantified number of years subject to certain conditions like in case of major cancer analysis
  • Premium discounts are available for policies over a certain amount
  • Very often, an insurance cover is not ceased after first diagnosis
  • You can be eligible for tax benefits under section 80D of the Income Tax Act
  • Many policies offer benefits concerning medical expenses, which include costs related with health care, such as cancer treatment.
  • A few other policies offer benefits regarding non-medical costs and provide policyholders with monetary assistance for transportation, household care, and certain bills.

While most of these benefits are common among many polices, in the end, it does come down to the requisites which the insurance company is offering. Future Generali Total Insurance Solutions is a great place to get yourself educated about cancer insurance policies. They also do offer good insurances for cancer that one can opt for when required. Cancer is surely an illness that should be taken seriously, and thus, opting for a cancer insurance plan is of top priority.

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