Both Cancer Insurance and Critical illness are essential in every person’s life as they provide different benefits and cover different illness, so it is best to compare them and buy one.
Health Insurance Policies in today’s scenario works as a support system, but still people should take care of themselves to prevent serious illness. Health Insurance Plans are essential for every person as it gives security and safety to the insured person with various benefits. There are various kinds of health insurance policies such as Individual Health Insurance Plans, Family Floater Plan, Children Insurance Plan, Car Insurance Plan, Mediclaim etc. But it is advisable to buy a policy for the parents or old persons of the house as it gill protect them in the time of critical illness or provide the expenditure while hospitalization. Though there are various terms and policies in every health insurance policy and various companies provide various additional benefits to their customer.
Critical illness health Insurance Plan: Critical illness is a kind of illness or disease that can affect deeply on the physical and emotional well being which may be turned as life threatening. Very often critical illness can be the result of organ failure which can only be treated with an organ transplant. This organ transplant is a kind of surgical process in which a healthy organ from one person is removed and transplanted into the needed person. Organs like kidney, pancreas, liver, heart, lung and intestine are transplanted generally; in this process one can be driven into both financial and emotional distress.
The critical illness covered under any health insurance policy is similar which are: Heart attack, Stroke, Cancer, Kidney Failure, Heart Attack, Coronary Artery Bypass Surgery etc. This organ transplant matter is like a life threat to the patient which is overwhelming and a policy to empower the patient to fight this threat can make life easier.
Coverage under Cancer health insurance policy: Cancer policies generally cover diseases like malignant tumours, pre-malignant tumours, non-invasive cancers in CIS stage and cancers in various organs such as throat, pancreas, prostate etc. But the best care and treatment can only happen when the type or kind of cancer can be guessed in an early stage as the sooner disease get guessed, the lesser criticality happens and the chances of recovery gets better. So in this scenario, the cancer insurance policy provides conflicting lump sum pay-outs for diagnosis, treatment and hospitalization at different stages of cancer which is a big help. And these policies have monthly allowances for supplement the absence of working income but in India, these policies have a survival period of 30 days beyond which only claims are valid. A few of the various types of cancers covered under a cancer insurance plan which are: Prostate cancer; Breast Cancer; Lung Cancer; Ovarian cancer; Stomach cancer and Hypopharynx cancer.
Difference between these two policies: Having a critical illness policy will provide protection against any kind of uncertain/terminal diseases; on the other hand, a Cancer Insurance plan will help insured restrict the expenses arising out of cancer treatment, here are some points which will show the difference between them:
Cancer care insurance provides financial security against medical expenses in the form of lump sum while the critical illness insurance provides financial security in the form of a lump sum payout upon successful of a listed diseases.
Cancer insurance is a benefit-based policy and provides coverage against almost all types of cancer. While critical care insurance can be utilized to cover for all expenses related to the treatment of a medical emergency.
The individuals who have a family history of cancer related problems can but the plan while individuals who have a higher chance of developing a critical illness in future can buy critical care insurance plan.