A Short Introduction to Heart and Cancer Insurance Plans in India

4g56Health Insurance has become the need of the hour. Soaring medical inflation and unhealthy lifestyle practices are the factors that have mandated the need for health insurance cover these days.

Medical emergencies are unpredictable, and this lack of preparedness often puts us in a tight spot. As per the World Health Organization (WHO) statistics, about 47% of medical exigencies and hospitalizations in rural India are funded by loans and mortgages.

In urban cities, 31% of hospitalizations are paid for on sale of assets or loans. This is where Health Insurance cover comes to the rescue. Health insurance quotes in place offer financial support against medical costs.

Younger Generation at Risk of Critical Illnesses

On the one hand, life expectancy rate of humans is improving owing to medical access and advancements. But on the other, serious ailments like heart diseases, respiratory diseases, hypertension, and diabetes are surfacing at a younger age.

There are increasing instances of people under the age of 40 suffering from cardiovascular diseases. These were previously believed to affect only the elderly population.

The major factors contributing to this premature onset of diseases are

  • Unhealthy food choices and excessive junk food
  • Processed and packed foods with high levels of sodium
  • Lack of exercise and sedentary lifestyle
  • Use of tobacco and alcohol
  • Rising levels of stress and tension in the workplace
  • Harmful pollutants in our environment

This susceptibility of the younger generation to critical illnesses calls for the necessity to acquire heart and cancer insurance plans.

The No.1 Killers

Cardiovascular diseases are dubbed as The No.1 killers and cancer is not too far. On average, every 40 seconds someone is dying of cardiovascular diseases in developed countries. That is about 2200 deaths a day. Coronary artery disease, high blood pressure, and cardiac arrest are the most common forms. Smoking and high intake of sodium (present in high levels in packed and processed foods) are factors that could put you at risk.

Necessity for Critical Illness Cover 

Cancer is not lagging too far behind in taking multiple lives every year. It is the second highest reason for global deaths after heart ailments, at 8% of total deaths.

The number of people diagnosed with cancer stands at 14 million as of 2012 and is expected to increase a whopping 50%, taking the number to 21 million before 2030. Worldwide cancer deaths are currently 8 million and are projected to increase by 60%, taking 13 million lives by 2030.

Going by the current statistics 1 in every 350 persons is at risk of Cancer, and 31% of deaths are caused by heart ailments. These shocking projections call for the necessity to acquire Heart and Cancer Insurance cover.

Financial Implications of Major Illnesses

A critical illness like cardiac arrest or diagnosis of cancer is traumatic enough. The treatments for these illnesses are costly and struggling to meet these medical costs will only add to your woes.

Treating cancer for a period of 6 months might cost between the range of 2.5 lakhs to 20 lakhs. The advancements in medicine now have a cure for almost everything; the only obstacle is the cost involved.

70% of Indians meet their major medical costs out of their pocket thus draining all their savings. A greater majority resort to selling assets and acquiring loans.

To protect yourself from these financial implications buy a best critical illness cover that can pay out a lump sum on diagnosis or treatment.

Benefits of Heart and Cancer Insurance

Heart and Cancer Insurance policies are long term policies with the coverage extending to about 20 years. Some policies offer up to 75 lakhs and offer payout immediately on diagnosis and even before hospitalization. This helps in tackling the higher costs involved in treating critical illnesses.

Most insurers provide coverage for 15 to 30 illnesses covering major heart ailments and stages of cancer, in a single policy. Such policies also provide life coverage that is in case a policy holder dies during the term the entire sum assured will be paid to the nominee.

An added advantage is you don’t have to be treated at a network hospital. You can acquire treatment from your choice of hospital and only submit diagnosis report to be reimbursed by the insurer.

You can save up to Rs.25, 000 each year on tax benefits for payments made towards premium.

Protection from Major Illness Like Heart Ailments and Cancer Is Just a Click Away

With advancements in technology, your cover for heart disease and cancer is only a few clicks away. There are a plethora of heart and cancer insurance options for you to choose from.

You can buy your insurance cover online from the very comfort of your home. All you have to do is explore the available options on online insurance portals and choose one that suits your requirements and frame of the budget.

You can also opt for the add-on covers to customize the policy towards your unique requirements and extend the coverage. All this, for a small amount of monthly premium.

The Bottom Line 

Age is no more a factor in susceptibility to critical illnesses. Hence persons of every age group, not only the elderly, must give thought to add Heart and Cancer cover to their existing Health Insurance.

Now, regardless of your financial position get access to quality treatment with the backup of an insurance policy. Thinking in advance and making small monthly insurance premiums will reap you a lump sum assured when in need.

You are very important to your family. Safeguard yourself and your loved ones from major illnesses and financial troubles with the best Heart and Cancer Insurance policies available.

So if you are an existing policy holder of health insurance, give a look at heart and cancer cover and add it to your policy. If you are thinking of buying health insurance, opt for a comprehensive critical illness insurance cover with coverage for heart diseases and cancer.

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