Growing Need for Cancer Insurance in India

Growing Need for Cancer Insurance in India

Cancer does not spread by geography. It can strike about anyone, anytime. It is on the rise in just about every region / country and India is no different.

Cancer is growing at alarming proportions in India, given the country’s large population and significant percentage of older citizens; it’s statistically shown that risk of cancer increases by age.

Worrisome statistics for India

If cancer statistics are any indication, Indians need to be very aware about the disease.

Sample some of the statistics –

  1. It is estimated that about 25 lakh or 2.5 million Indians are living with cancer.
  2. Every year about 7 lakh new patients register with cancer. This is worrisome particularly since actual patients diagnosed with cancer is much larger, only a percentage of which register for treatment.
  3. Cancer claims over 5,50,000 lives annually in the country
  4. One woman dies of cervical cancer every 8 minutes
  5. Out of every two newly diagnosed cases of breast cancer, one patient succumbs to it
  6. Indians in the 30-69 years account for 71% of all cancer related deaths – this is scary since cancer is usually diagnosed at an advanced age in other geographies

Cancer is rising and so is cost of treatment

Just as alarming as rise of cancer cases in India, is the spiraling cost of cancer treatment.

Cost of treating cancer in India has risen significantly over the years. For instance, cancer surgery of the head and neck can cost upto Rs 2,00,000.

Cancer medicine can also be expensive – certain cancer drugs can cost as much as Rs 1 lakh / month and the patients may need to take it for upto a year – so that is Rs 12 lakhs just for the medicine.

Cancer insurance can help

What this tells you is that not only is cancer worrisome, treating it can be just as nightmarish in a financial sense. But the good thing, at least when it comes to treating cancer, is that you can make adequate preparations.

Taking cancer insurance is a big step in that direction. For a small sum of money paid out annually you are closer to securing your finances in case of a cancer-related emergency.

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Lisa Ray: One out of every 22 women can get cancer. Aapko shaayad ho yaana ho. But why take a chance? Get Cancer insurance.

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Lisa Ray: So get cancer insurance plan, but I hope you never need it.

Source: TATA MEMORIAL

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