Why comprehensive health insurance is your best bet against rising cancer cases, ET HealthWorld

Written by Surbvir Singh

Sunil, a 34-year-old resident of Delhi, was supposed to be seeing a doctor regularly due to health issues, but his nightmare turned into a nightmare when doctors diagnosed him with early stage cancer. Naturally, he has been troubled by questions such as – Does it happen to young and healthy people? Why does this happen despite the absence of unhealthy lifestyles and habits? Did that happen? Of course, no one has the right answers to these questions. Even celebrities like Yuvraj Singh, Sonali Bendre and many others have not been able to escape this deadly disease. Once a rare occurrence, it unfortunately now affects more than 1.2 million people in India every year.

Cancers come with immense health and emotional trauma, but also no small amount of financial hardship. Now that cancer is no longer rare, it's important to be prepared in every way. While you can't predict or control everything, you can at least have your finances under control if such situations arise. The health insurance industry is constantly evolving to meet this growing consumer need.

This World Cancer Day, understand how you can protect your future from the financial impact of cancer with health insurance –

How can comprehensive health insurance help?

Surviving cancer is one of the most difficult battles. To a middle-class family, there is no word more frightening than cancer. Apart from the mental burden, the financial burden is equally significant. Healthcare costs in India are rising year on year, especially in cases of severe illness, which require intensive monitoring and extensive care. Although costs vary depending on factors such as cancer type, stage and treatment options, the average cost of cancer treatment in India has increased from Rs 100,000 to Rs 1.5 million about three years ago to more than Rs 500,000. is jumping up. With comprehensive health insurance, patients and their families don't have to worry about hospital costs, including surgeries if needed, or even expensive medications. Not only that, the new era plan also covers the latest treatments such as immunotherapy and stereostatic radiosurgery, which may be important to effectively treat the disease.

What you need to cover your costs: lots of insurance, unlimited repairs.

Treatments such as chemotherapy can cost up to Rs 30-40 million with multiple rounds of specialized treatments. Considering that the incidence of serious diseases like cancer is very high, it is important to have a good amount of insurance coverage. Therefore, the importance of choosing a policy with an insured amount of Rs 5 million to Rs 10 billion for him cannot be overemphasized. You should also take advantage of the lesser-known but beneficial feature of unlimited health insurance repairs. This feature restores the original insured amount of the policy if the insured amount is exhausted due to the same or another disease. As we know, cancer can require people to be hospitalized multiple times. In these cases, comprehensive protection with high insurance premiums and unlimited remediation benefits can help you receive the best treatment without leaving you in permanent financial hardship.

critical illness compensation

A health insurance plan is essential, but coverage for critical illness goes far beyond that. This is basically on top of basic health insurance and provides a lump sum payment if the policyholder is diagnosed with a serious illness such as cancer. Unlike health insurance plans, which pay your bill based on submitted hospital bills, critical illness coverage pays the full amount, no matter how much you have to pay for treatment. Additionally, this insurance benefit is guaranteed to be paid even if the policyholder is not alive.

Policyholders and their families have complete discretion over how this money is spent. To pay for out-of-pocket costs not covered by insurance, compensate for lost income while the patient is receiving treatment, or achieve a family's financial goals that would otherwise be compromised by the risk. You can use it. Financial setbacks due to illness.

For those who have a history of serious illness in their family, it is mandatory to take critical illness cover of at least Rs 1 million as a precautionary measure. Also, those who are the sole breadwinner of their family should choose this plan to secure their family's future so that their loved one does not face serious financial hardship if diagnosed with cancer. is needed.

In addition to cancer, these plans also cover other serious illnesses listed, such as stroke, heart attack, kidney failure, and paralysis. Before purchasing insurance, it is important to be sure about the critical illnesses covered. It is important to understand that critical illness cover is an extension of regular health insurance, not a replacement for it. Health insurance can extend the coverage it provides to cover situations that may not otherwise be covered.

Sarbvir Singh, Joint Group CEO, PB Fintech

(Disclaimer: The views expressed are solely those of the author and ETHealthworld.com does not necessarily agree with them. ETHealthworld.com is not responsible for any damage caused directly or indirectly to any person/organization. We do not owe).