When facing any critical illness like cancer, the last thing you want to worry about is finances. However, the diagnosis brings not only emotional challenges but also financial burdens. As the cost of cancer treatment continues to rise, the option that becomes more reliable and plays a critical role is a cancer insurance policy. It prepares you for life’s uncertainties and provides financial security during challenging times.
In this blog, we’ll discuss the benefits of a cancer insurance plan and why Stashfin’s critical illness insurance can be the ideal solution.
What is a Cancer Insurance Policy?
Cancer insurance is a specialised health insurance that covers the costs associated with cancer treatment, including chemotherapy, surgery, and other medical expenses. Unlike other health insurance policies, which may have certain limitations, cancer insurance makes sure you have financial resources if diagnosed with cancer.
The policy also covers non-medical expenses related to the disease, such as travel for treatments, child care, household bills, doctor appointments, pre- and post-hospitalisation care, and more.
Following are some of the reasons stating the importance of cancer insurance policy:
- As mentioned above, the cost of cancer treatment is extremely high, and a reliable policy helps to cover the expenses related to the treatment. The insurance significantly gives financial protection during hard times.
- Cancer insurance gives peace of mind during the treatments, making sure you remain stress-free and won’t have to drain all of your savings.
- If you cannot work during the time of diagnosis, the insurance plans offer income replacement benefits to help cover living expenses.
Benefits of Cancer Insurance Plans
The best cancer insurance plans offer a wide range of benefits, making them a must-have to avoid stress during hard times. Here are some of them:
- Coverage of All Stages: A reliable cancer insurance plan covers all stages of diagnosis, from the early to the final stage. Some plans cover the cost of the second opinion taken by patients to ensure the best treatment.
- Lump-Sum Payment: Many insurance companies provide lump-sum payments that can cover any expense related to cancer treatment, be it medical, like chemotherapies or diagnoses, or non-medical expenses, like household expenses or child care.
- Tax Benefits: If you have paid a premium towards cancer insurance, you are eligible for a deduction under Section 80D of the Income Tax Act.
- Flexible Use of Funds: There is flexibility in how you use the funds, including hospital stays, treatments, home modifications and more related to the disease.
Stashfin Critical Illness Insurance
Since the cancer insurance policy only covers cancer treatment, Stashfin’s critical illness insurance goes beyond that and offers comprehensive protection against other critical diseases as well.
Key features of Critical Insurance Policy
- Comprehensive Coverage: The policy covers critical illnesses, including cancer, kidney failure, nerve damage, organ/bone marrow transplant, heart surgery, stroke, paralysis, accidental death and permanent total disability.
- Coverage Amount: If you are diagnosed with any disease mentioned under Stashfin’s critical illness, the insurance will cover up to ₹1,00,000.
- Premiums: At a premium of ₹464, you can secure coverage for a period of 12 months.
What’s covered?
Stashfin’s best critical illness insurance provides coverage for various illnesses:
- Cancer of specified severity
- End-stage renal failure that requires dialysis
- Major organ/bone marrow transplant
- Multiple sclerosis with symptoms
- Open heart valve replacement or repair
- Open chest coronary artery bypass graft
- Stroke resulting in permanent symptoms
- Permanent paralysis of limbs
- First heart attack (Myocardial infarction)
How do I apply for Stashfin’s critical insurance policy?
- Download Stashfin’s app via Google Play Store or App Store or apply on the website.
- After you sign in, select Critical Illness Insurance in the insurance section.
- Read all the details carefully.
- Complete the application process by updating all the details.
Conclusion
In today’s world, having cancer insurance is a valuable tool to help you protect yourself financially when diagnosed with cancer. Whether you are looking for a cancer insurance policy or any other health policy offering broader coverage, Stashfin’s critical illness insurance is the right choice. If you are looking for a policy that gives you peace of mind and protects you from financial burdens, then Stashfin is an excellent option.