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Health Insurance Cover Chemotherapy

  • Author :
  • TATA AIG Team
  • Published on :
  • 15/07/2022

Health insurance is a necessity in today's day and age, where health costs are rising astronomically. Medical inflation has been a cause of concern for many years, and health expenses are only expected to increase more with time. In addition to this, the frequency and types of illnesses have also amplified. There was a time when poor health was associated with old age alone. However, with a change in lifestyles, pollution levels, adulteration in food, loss of nutrients in the soil, stress, and more, diseases are now common in all ages.

Youngsters, elders, men, and women, are all equally susceptible to falling ill. In these fast-paced lives, critical illnesses like cancer can not only cost you your peace of mind but also deplete your savings. But does health insurance cover cancer?

Most health insurance policies cover ailments like cancer. However, before you go ahead and buy health insurance, you must know — how much does one chemo treatment cost and does health insurance cover chemotherapy or not. Keep reading to find out.

Chemo Cost in India

The costs of chemotherapy can differ across cities and depend on factors like the patient's age, the patient's medical condition, the type and stage of cancer, post-treatment requirements, and the type of hospital. However, the average cost can be around ₹18,000. The minimum and maximum charges can range between ₹3,000 and ₹50,000. This can include expenses like the admission and oncologist fee, room rent, and lab tests like blood tests, Pet scans, X-rays, ECGs, and more.

Health Insurance Types

There are different types of health insurance plans in India, as explained below:

  • Individual Health Insurance

An individual health insurance policy covers a single person against health expenses, such as illnesses, injuries, etc. This type of health insurance offers basic coverage to one person only. The premium for individual health insurance can be decided on the basis of the individual's age, gender, health history, and other similar details.

  • Family Health Insurance

A family floater health insurance plan can be used to cover the entire family, including parents, spouse, and children. This covers the whole family under a single premium payment. Moreover, the cover amount is shared amongst all members.

  • Super Top-up Health Insurance

The super top-up health insurance plan is an add-on that can enhance the existing insurance coverage of an individual. This type of mediclaim insurance can be used to increase a policy's cover amount without going through the hassles of buying an entirely new one. The premium is then adjusted according to the increased limit.

  • Personal Accident Insurance Policy:

A personal accident insurance policy is suitable to cover permanent disability or death caused due to an accident.

  • Coronavirus Health Insurance:

Coronavirus health insurance covers the health expenses arising out of Covid-19.

  • Critical Illness Health Insurance:

Critical health insurance is primarily designed to provide coverage against severe illnesses like cancer, renal failure, cardiovascular diseases, etc. These plans have a relatively high sum assured to cover the high costs associated with critical conditions.

Let's find out more about these types of insurance plans.

Does Health Insurance Cover Cancer?

Yes, health insurance plans like the critical health insurance policy can help you cover the costs related to cancer. Since illnesses like cancer can be hard on the pocket and take time to recover, these plans are designed to offer you continued financial support in your worst hours.

A cancer insurance plan can offer the following benefits:

  • High sum assured

Critical illness insurance provides a relatively higher sum assured that can be used to cover expenses like surgery, doctor's consultations, room rent, ambulance costs, the cost of medicines, and much more.

  • Lump-sum payout

Critical illness insurance plans offer a lump sum payout when you get diagnosed with a critical illness like cancer. This can help you cover the costs associated with cancer as well as other essential needs that can arise with an illness. These plans offer you increased liquidity for overall financial protection. They can also cover the loss of income in case you are unable to work due to poor health.

  • Quick and hassle-free

The claim process for a critical illness health insurance plan is quick and seamless. Battling an illness like cancer can be troublesome enough. These plans aim to simplify things for you and offer instant financial help to navigate your way through without adding to your stress.

  • Peace of mind

Knowing you have a safety pool to depend on in case of any need is a reassuring factor that helps you live stress-free and focus on other financial goals in life.

How to Pick a Good Health Insurance Plan for Cancer?

Here are some things to can do to pick a good cancer insurance plan:

  • Pick a high sum assured: Cancer is an expensive illness that can rob you of your savings and investments. The treatment for cancer can also prolong from a few months to years. Therefore, it is essential to pick a high sum assured.

  • Look for affordable premiums: A high sum assured can impact your plan's premium. However, there are several affordable plans in the market. Try to compare the costs with the features and coverage and pick something that is cost-effective. For example, if you wish to purchase a Tata AIG health insurance policy, you can use our health insurance premium calculator to calculate the premium for better accuracy and accordingly select a policy.

  • Check the insurance company's performance and reputation: When relying on a health insurance plan for your future safety, it is crucial to find a trustworthy insurer. You can check the insurer's claim settlement ratio to be certain of your choice. A high claim settlement ratio indicates the company's ability to settle your claim. In addition to this, you can also go through online reviews to get an idea of the company's customer service policies and efficiency. Additionally, checking the claim's process can help you make a good decision.

Conclusion

A health insurance plan is a must-have. However, it is vital to pick a plan that can offer you enough coverage against the rising costs of healthcare. Critical illness insurance plans can be ideal for this. If you have a history of cancer in your family, buying a critical illness insurance policy is particularly vital. It is also essential if you have poor lifestyle habits like smoking or drinking that can lead to health issues later. These plans can ensure overall financial protection irrespective of these factors, too.

Tata AIG offers different health insurance plans, including critical illness insurance. You can browse through and get one as per your needs.

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