Health Insurance Plans For Breast Cancer
health Insurance plans for breast cancer

Health Insurance Plans For Breast Cancer

Breast cancer is one of the most common diseases that occur in women, accounting for 14% of all cancers in women. This scenario is made graver by the fact that 1 in 28 women will eventually develop breast cancer in her lifetime. The incidence and mortality rate for breast cancer is seen highest in India. In comparison to lung 5.5%, cervix/uterus 9.4%, and oral 10.3%, it occurs 13.5% more frequently. This is the reason why it is extremely pivotal to detect the early signs of breast cancer.

In such a situation, the best product to manage your cancer treatment costs is breast cancer insurance. A comprehensive health insurance plan for breast cancer can safeguard you and your family from the financial burden while dealing with such a medical emergency. You should choose a plan like this that provides the most protection without breaking your bank.

What Are The Advantages Of Having A Breast Cancer Insurance Plan?

The policyholders receive a number of important benefits from purchasing breast cancer insurance coverage. The following list includes a few advantages.

  • Covers Breast Cancer Treatment Processes: Breast cancer coverage will provide protection against every conceivable aspect of the treatment. As a result, you can obtain comprehensive coverage against testing, radiation treatments, chemotherapies, etc. with just one insurance plan. Therefore, you won’t have to spend your entire monthly income and savings to begin cancer therapy.
  • Financial Assistance In Emergencies: When you need it most, a breast cancer insurance policy might be your closest ally. You experience a great deal of physical discomfort along with the devastating mental trauma that a cancer diagnosis can bring. It might be quite challenging for you to consistently make ends meet if the cost of your breast cancer treatment overlaps with the loss or reduction of your monthly income and savings. A breast cancer insurance policy can offer significant financial support in such a situation.
  • Lump-Sum Compensation: There are two phases of breast cancer: the minor stage and the major stage. The insurance provider offers a lump sum payment based on the severity of your ailment. This will help you out in saving a significant amount of money.
  • Income Benefit Option: When a family member with an income has breast cancer, the insurance provider offers an income benefit option that provides payments at various intervals over a predetermined time to make up for the income loss. Depending on certain terms and conditions, the family of the cancer patient who passes away will still get income benefits for a predetermined period of time. The nominee gets the monthly salary.
  • Tax Benefits: In addition to receiving enough coverage for breast cancer treatment, you will also be able to receive some tax advantages for the premiums you paid for your plan. You may deduct up to Rs. 25,000 in taxes for payments made for medical insurance premiums under Section 80D of the Income Tax Act of 1961. This reduction is worth Rs. 50,000 for senior citizens.
  • Premium Waiver Benefit: Certain breast cancer insurance products also offer a premium waiver benefit. According to this waiver benefit, all upcoming premium payments for the policy are waived for the remainder of the policy term following the approval of a claim under the major stage cancer benefit clause. It should be remembered, though, that all of these advantages are only available if the policy is active and all required premiums have been paid.

Best Mediclaim Policy For Breast Cancer

Here is the list of top 3 breast cancer insurance plans that you should consider buying:

1. HDFC Ergo Women Cancer Plan

HDFC ERGO has come up with Women Cancer Plan to ensure that they have the financial protection needed to combat cancer with the aid of top-notch medical care. Even though breast cancer can severely impair one’s mental, physical, and emotional health, having insurance like this at least ensures one’s financial security.

Key Benefits:

  • Covers Initial Stage: The plan not only covers major malignant cancer but also those which are in the in-situ or initial stage of breast cancer.
  • Self-Empowering Optional Covers: If you are diagnosed with breast cancer and you have recently lost your job, it may prove neck-breaking for you. To make sure that your breast cancer doesn’t create a roadblock on your path, the plan offers optional covers for loss of job and post-diagnosis support, to name a few.
  • Wide Range Of Sum Insured: The cost of breast cancer treatment can drain your savings drastically as it is highly expensive. Therefore, the HDFC Ergo Women Cancer plan offers a wide range of sum insured options to the policyholder from Rs, 3 lakhs to Rs. 1 crore.
  • Attractive Discounts: If you purchase this policy online, you can get up to a 5% discount on the policy. Additionally, you receive a discount of 7.5 percent for a 2-year coverage and 12.5 percent for a 3-year policy. In this manner, you will save a great deal on your breast cancer insurance premium.

2. Tata AIG Breast Cancer Cover

Tata AIG Breast Cancer Cover is a robust cancer insurance plan that offers optimal coverage without burning holes in your pocket. It provides sufficient financial protection against any kind of medical emergency that may come unexpectedly.

Key Benefits:

  • Financial Support: By choosing the Tata AIG breast cancer policy, you can put an end to your financial concerns while undergoing treatment. The plan offers a lump-sum payout for the total amount assured.
  • Second Opinion: You can get a second opinion if you need one regarding your original breast cancer diagnosis without worrying about the associated costs.
  • Increase Your Sum Assured: When renewing your insurance policy, you have the option of increasing the entire sum assured under your breast cancer coverage.
  • Monthly Income Benefit: If you are unable to work full-time after being diagnosed with breast cancer, the lump-sum amount of the sum assured under your breast cancer coverage may assist make up for the loss of your monthly income. This guarantees that any financial hardship following breast cancer treatment won’t affect you or your family.
  • Easy Online Process: From purchasing medical insurance or a breast cancer cover to its renewal and filing a claim, everything is quite simple and hassle-free with TATA AIG.

3. Aditya Birla Activ Cancer Secure Plan

Aditya Birla Activ Cancer Secure plan, with an insured amount of up to Rs 1 crore, is created to cover the escalating costs of treatment at every stage of cancer, including early, major, and advanced. The plan also offers lump-sum payments to cover cancer-related expenses like chemotherapy, surgery, and radiation so you can concentrate on getting well and maintaining your outlook.

Key Benefits:

  • Second E-Opinion: If you wish to have a second e-opinion on the treatment and medication of your breast cancer, then this plan will provide the option of a second e-opinion from the company’s panel of medical practitioners.
  • Comprehensive Protection: No matter whether your breast cancer is at an early stage, major stage, or advanced stage, the plan covers all stages of cancer. It provides 50% of the sum assured for early stage, 100% for major stage, and 150% for advanced stage cancer.
  • Additional Payout: If you are diagnosed with major/advanced stage cancer, you will get an additional payout of up to 100%. This is applicable even after you get up to 50% for the early stage.
  • Short Survival Period: The plan also offers a short survival period of only 7 days after you are diagnosed with cancer. This allows you to get your claim processed in the shortest possible time and you can receive a lumpsum amount.

Things You Should Know About Breast Cancer Insurance Plan

If you are thinking to buy a breast cancer insurance plan, you should know a few things as follows:

  • Your standard health insurance policy might not cover breast cancer if you have one. Keep in mind that these are indemnity policies that only cover hospitalized costs.
  • A critical illness plan will give coverage for breast cancer because it is considered a critical illness. Critical illness insurance offers protection from conditions including cancer, stroke, and kidney disease, among others.
  • For protection against conditions, such as breast cancer, you can add a critical illness rider to your current health insurance policy. The rider will offer a payout above the base policy’s sum insured.
  • When treating serious illnesses like breast cancer, there are numerous non-hospitalization costs that must be paid. Beyond the predetermined post-hospitalization period, neither a conventional health plan nor a critical illness plan will pay for expenses linked to personal comfort, prescribed foods during chemotherapy sessions, or the cost of transportation. These non-hospitalization costs must be covered out of your own money.
  • Read the small print to comprehend the terms and conditions of the policy before making a purchase. Find out the extent of coverage if your plan does in fact cover serious conditions like breast cancer.
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