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Breast Cancer & Health Insurance: All You Need to Know

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Breast cancer is a malignant tumour in the breast. It is a disease in which the cells in the breast mutate and multiply beyond control and thereby create a mass of tissue called tumour. Usually, breast cancer occurs either in the lobules or ducts of the breast, but it can also form in the fatty or fibrous tissue within your breasts. Like other types of cancers, breast cancer can also spread to other parts of the body. The signs and symptoms depend on the type of cancer but some of the most common symptoms include pain in the breast, breast lump, swelling, flaking or scaling of the skin on your breast or nipple, discharge from the nipple other than breast milk, etc. If you notice any of these symptoms, contact your doctor for further testing and examination.

6 Things to Know About Health Insurance for Breast Cancer

1. Breast Cancer is Covered under Critical Illness Insurance:

Most standard health insurance policies do not provide coverage for critical illnesses. Since cancer is considered a critical illness, you need to buy critical illness insurance which will cover all the expenses related to breast cancer treatment. Critical illness insurance plans are fixed-benefit plans, which means, a lump-sum amount will be provided by the insurer upon diagnosis of the ailment irrespective of the actual cost of treatment.

2. Critical Illness Rider for Regular Health Insurance Plans:

If you don’t want to buy a separate critical illness insurance, you can opt for critical illness rider along with your standard health plan. But you need to pay extra premium for that. However, the rider may not provide comprehensive coverage like the standalone critical illness plan, so it’s good to check with your insurance provider about the details.

3. Waiting Period Applies for Breast Cancer:

There’s a waiting period involved for certain ailments, including breast cancer, whether you have a critical illness insurance or a standard health insurance policy. During this period, you cannot raise any claim for the medical expenses. The critical insurance plans come with a waiting period of 90 days while most regular health plans have a waiting period of 2-4 years and this varies from one insurer to another.

4. Survival Period under Critical Illness Insurance:

Apart from the waiting period, a critical illness insurance plan has a survival period, which can range from 14 to 30 days, depending on the plan. After being diagnosed with a critical illness such as heart disease, cancer, etc., the insured must survive this period to avail the benefits of the plan. For instance, if a woman diagnosed with breast cancer dies within the survival period, the insurer is not liable to pay the sum insured.

5. Out-of-pocket Expenses may be Incurred:

During the treatment of breast cancer, there will be some expenses which need to be borne by the insured, such as prescribed diets during chemotherapy sessions, cost of travelling, etc. These expenses are not covered in a standard health insurance policy. With a critical insurance plan, you can avoid the out-of-pocket expenses as you will get a lumpsum amount from the insurer irrespective of the actual cost of treatment. You can use the money left after treatment for paying off debts, mortgages, etc.

6. Free Preventive Health Check-ups may be Available:

Go for plans which offer free health check-ups. Preventive check-ups can help in the timely detection of breast cancer.

In a Nutshell

Being diagnosed with breast cancer can be overwhelming and the treatment can drain you not only mentally but also financially. To safeguard yourself financially, it is important that you have a critical illness insurance policy and keep the above-mentioned points in mind while buying health insurance. Also, if possible, go for breast cancer screening every year for early detection of the disease and better treatment outcome.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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