Is cancer insurance a must if I already have a health plan?

If you don't want to pay a million for medical treatments, you need an insurance plan, especially cancer insurance to cover cancer which is one of the diseases found the most in Thailand. The Department of Medical Services has revealed statistics that there are 140,000 new cancer patients/year or 400 people/day. Hence, people nowadays should pay attention to cancer insurance as cancer is often caused by lifestyle habits: eating, drinking alcohol, sleep deprivation, stress and working hard, for examples. All of them are factors increasing the risk of getting cancer. If we buy a cancer insurance before getting sick, it will help reduce your worries about medical treatments. Let's take a look at coverage of cancer insurance. We also have the answer for you in case you already have a health plan.

What does cancer insurance cover?

Did you know? Cancer has been the No. 1 cause of death for Thai people for many years which the risk factors are from lifestyle habits. The 5 most common cancers in Thailand are: 1. liver and bile duct cancer, 2. lung cancer, 3. breast cancer, 4. colorectal cancer and 5. cervical cancer.

If you have cancer, you require continuous treatments which can take a long time. Some cancers may require complex treatments, resulting in high expenses reaching hundreds of thousands or even a millions Baht. Cancer insurance provides coverage for cancer treatments, such as medical expenses, medications, and other related expenses. The coverage helps you pay by not affecting your family's saving. It gives peace of mind to the patients, so they can fully focus on recovering themselves. In this regard, a good cancer insurance should mainly cover the expenses as follows:

• Cover diagnosis Cancer is caused by many reasons, and symptoms are different in each type. The diagnosis can be complicated and may require more than one time. Therefore, cancer insurance should cover this.
• Cover cancer treatment Cancer requires many stages of diagnosis and different treatment methods subject to each type of cancer, such as surgery, radiotherapy, chemotherapy or modern treatments, such as targeted therapy, immunotherapy and stem cell transplantation which can be complicated and time consuming. Therefore, good cancer insurance should provide comprehensive coverage for treatments to increase the chances of recovering from cancer.

Advantages and disadvantages of cancer insurance

There are many types of cancer insurance. Before buying one, you should study the details of coverage and conditions before making a decision to purchase or consult an insurance agent for more information to apply for the right plan to meet your needs and for comprehensive protection. Cancer insurance has some advantages and disadvantages as follows:

Advantages of cancer insurance

• Reduce the burden from medical expenses to not affect the family's saving
• Access to cutting-edge cancer treatments as needed to increase the chance of recovery
• Provide financial protection for the family if the insured dies from cancer

Disadvantages of cancer insurance

• Insurance premiums can be high, depending on several factors, such as age, gender and risk.
• There may be conditions and requirements limiting the coverage.
• The insured cannot submit a claim for cancer treatment expenses if the insured has an underlying disease.

Each type of cancer insurance may vary, so, please study conditions of the cancer insurance policy before making a decision to purchase.

Is cancer insurance expensive? Can cancer patients apply for it?

Did you know? Whether cheap or expensive, cancer insurance premium depends on several factors, such as age, health, gender, family history and selected insurance plan. In general, the cancer insurance premium becomes more expensive when the buyer is older, in poor health and is female.

In addition, can cancer patients buy cancer insurance? The answer is yes. However, there may be some limitations. Before applying for an insurance, insurance company will consider the insured’s health history before approving the policy, resulting in cancer patients may be refused or may have to pay higher premiums. Hence, it is better to buy an insurance before getting sick. Whether for health insurance or cancer insurance, you should plan to buy one before getting sick so that we can receive comprehensive coverage and not be subject to the conditions.

If you already have a health insurance, is cancer insurance still necessary?

For cancer patients who already have health insurance when receiving a cancer treatment, you will be covered only for general expenses, such as diagnosis fee, surgery fee, radiology fee, room fee and x-ray fee. Whether or not the insurance will cover all expenses, it depends on the selected plan.

If you already have a good health insurance plan, you may not have to buy a cancer insurance separately. However, for more comprehensive protection, you should have a cancer insurance because the health insurance may not cover all the cancer treatment expenses, such as certain medications or OPD cancer treatments. Especially, if we are at risk of cancer, we should buy a cancer insurance before getting sick in order to cover expenses exceeding the existing health insurance coverage.

In addition, having cancer insurance can help reduce the burden of expenses and medical expenses. The benefit amount varies in each stage of cancer when detected, or the insured can choose to receive a lump sum benefit when cancer is detected as well. Daily benefits are also provided in case of hospitalization due to cancer.

Cancer is a serious disease that can happen to people of all genders and ages. Regardless of age, we are at risk of getting sick because this disease is caused by our lifestyle habits: working hard, sleep deprivation, not exercising, including eating foods with negative effects on our health. Buying health insurance and cancer insurance before getting sick helps us to not worry about expenses for treatments you need or medical treatment technologies. This increases the chance of being cured from the disease and recovering to return to normal life sooner.

Feel peace of mind by applying for Care Plus, cancer insurance from Muang Thai Life Assurance to take care of cancer treatment expenses at all stages, covering medical treatment technologies including targeted therapy, immunotherapy and stem cell transplantation, both IPD and OPD. Coverage amount is 5 million Baht per year. The premium is less than 8 Baht per day.*

✔️ Take care of medical expenses for cancer and chronic kidney failure at all stages, both IPD and OPD, 5 million Baht per year*

✔️Choose critical illness coverage, cancer or chronic kidney failure. Special! If you choose coverage for both diseases, the premium is reduced by up to 10%.

✔️Coverage for modern treatments for cancer and chronic kidney failure, such as targeted therapy, immunotherapy, stem cell transplantation, online hemodiafiltration and kidney transplantation.

✔️Special additional protection for psychiatric consultation caused by cancer or chronic kidney failure, room fee, medication fee and treatment fee from the start of treatment.

✔️ No worries, we also cover a reoccurring disease. The entry age is 30 days – 80 years with long-term coverage until the age of 99 years.

*For male insured aged 35 years who chooses coverage for cancer and chronic kidney failure Plan 5 Million Baht with annual premium payment

• For the medical expense benefit for a cancer and/or chronic kidney failure treatment, the payment will be made for the treatment specified by the Company.
• Coverage period of the rider must not exceed the coverage period of the life insurance policy that this rider is attached to.  
• Premium is eligible for tax deduction. Conditions are as specified by the Revenue Department.
• Underwriting is subject to the Company’s rules.
• Conditions are as specified by Muang Thai Life Assurance PCL and the Bank.
• Conditions are according to the medical standard and necessity.
• Please study the details of coverage, conditions and exclusions before making a decision to purchase insurance.

Resources: Data retrieved on 03/08/2023

🔖 Thairath 

Content Reposted from Muang Thai Life Assurance Website