Cancer-EN

Cancer Insurance vs Medical Insurance

"Is it necessary to buy cancer insurance if I already have medical insurance?"

Updated on 2023-06-20

It’s true that more insurance doesn’t always mean better, but that doesn’t mean a medical insurance policy is enough for all situations. Before considering whether to purchase cancer insurance, it’s worth understanding the difference between cancer medical insurance and other insurance products with Bowtie.

Difference between Cancer Medical Insurance VS general Medical Insurance

	Cancer Medical Insurance	General Medical Insurance	VHIS
Waiting Period	Usually has a 90-day waiting period, during which any symptoms or diagnosis of cancer will not be covered.	Most plans have a waiting period	No waiting period, coverage starts immediately after policy is in effect
Coverage	Cancer diagnosis and testing, hospitalization and outpatient cancer treatment, etc.	Hospitalization for all injuries or illnesses and outpatient surgery, etc.
Compensation Method	Reimbursement of actual medical expenses
Benefit Limit	Usually calculated based on each instance of cancer, and different insurance companies have different definitions of “one instance of cancer.” A few plans recalculate the limit every three years, such as Bowtie Cancer Medical Insurance – Cancer Fighter	Limited by each illness or a lifetime limit may be set.	Recalculated annually.

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Author

Bowtie Team

The Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer approved. Through the use of modern technology and medical expertise, Bowtie offers an agent-free, commission-free and more convenient online platform for customers to quote, apply and claim for Voluntary Health Insurance Scheme (VHIS) anytime anywhere. Bowtie is ranked first in the direct channel sales throughout 2021.

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