Do you Have a Cancer Specific Insurance?

Posted on:26,Aug'19

Posted by: CancerClinics

Tags: Cancer Insurance


Cancer treatment has a physical, emotional and financial toll on the patient as well as their family. While the doctor and medical team, helps handle the physical effects and family offers support for the emotional impact, the financial impact of cancer is quite huge and shocking for those who are unprepared.

Usually those who have sufficient financial resources manage to meet costs. But a majority of the population does not have the finances to be able to pay for cancer treatment by themselves. Some government schemes cover a portion of the population that falls below the poverty line, but largely we as a society are underinsured for cancer.

Sometimes, cancer treatment could push a family who is above poverty line to below the poverty line.

On an average, cancer treatment over a period of 6 months costs above Rs. 2.5 lakh and a treatment lasting one year could go all the way up to Rs. 10 lakh. (The average is arrived at after considering cost of treatment across government, trust and private hospitals).

Over and above this average cost, certain specialist procedures are priced at a significantly higher rate


Average Cost

Targeted Therapy (Oral)

Rs. 500 to Rs. 5000 per tablet

Bone Marrow Transplant

Rs. 14 lakh

Targeted Therapy (Injection)

Rs. 1.2 lakh per injection

So, the solution to the huge problem of treatment cost could be preemptive. It is prudent to get a cancer specific insurance.

The regular health/medical insurance that you have usually covers only admission fee and does not pay for the medical tests demanded by doctors. And according to several reports, only 17% of Indians are insured. This 17% includes government insurances & group insurance; effectively leaving only 2% of the population that is individually insured. That can take care of medical and certain incidental costs.

Since, cancer is a disease that could affect anybody, it is important for you and your family to invest in a cancer specific insurance.

Also read:

Will India win the cancer battle?
Cancer facts & statistics in India

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