1. A regular health insurance plan may not cover breast cancerIf you have a regular health insurance plan, the same may not provide coverage against breast cancer. Note that such policies are indemnity plans which reimburse only hospitalization expenses.
Breast cancer falls in the category of critical ailments that are generally not covered by regular health plans.
2. Coverage under critical illness planSince breast cancer falls in the category of critical ailment, the coverage for the same is provided by a critical illness plan. Critical illness policies provide coverage against ailments such as cancer, stroke, and kidney disease, among others.
Note that critical illness plans are fixed-benefit policies which provide a lump sum upon diagnosis of the ailment, irrespective of the cost of treatment. The lump sum received helps take care of preand post- hospitalization expenses.
3. Provision of adding rider to existing health insurance planYou can add a critical illness rider to your existing health insurance plan for coverage against such ailments, including breast cancer. The rider will provide a pay-out up and above the sum insured of the base policy.
However, note that unlike a standalone critical illness plan, the coverage offered by the rider may not be a comprehensive one. Check out with your insurer about the availability of such a rider.
4. Need to bear non-hospitalization costs from your pocketThere are many non-hospitalisation expenses that arise during the treatment of critical diseases such as breast cancer.
Expenses related to personal comfort, prescribed diets during chemotherapy sessions and cost of commuting aren’t covered by a regular health plan, and by a critical illness plan beyond the defined period of post-hospitalisation. You need to foot for these non-hospitalisation expenses from your pocket.
5. Read the fine printBefore buying, read the fine print to understand the policy’s terms and conditions. Check if your plan covers critical ailments like breast cancer and if yes, find out the quantum of coverage. Compare different policies online before buying one.
In ConclusionHealth insurance, especially critical illness insurance, fortifies your finances from taking a major dip in contingencies such as breast cancer. As a health emergency can crop up anytime, it’s essential to remain guarded by availing a health plan early.
Learn more about Health Insurance Plans here.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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