With Cancer Cases Up, It's Time To Augment Your Health Coverage

Cancer treatment does not only need hospitalisation, OPD charges can be substantial. In this scenario, a combination of comprehensive health insurance and specific covers like cancer or critical illness insurance would be ideal

- By Meghna Maiti

India is referred to as the cancer capital of the world due to the high number of cancer cases in the country. Cancer cases are expected to reach 1.5 million by 2025, according to a report released on August 18, 2020 by the Indian Council of Medical Research (ICMR) and the National Centre for Disease Informatics & Research (NCDIR). This represents a 12 per cent increase from the figures for 2020.

With this distressing rate of growth in cancer among people, it makes sense to have adequate insurance coverage against cancer. The disease can be devastating not just for the patient, but also for the entire family. There have been cases where families have been driven to penury during the course of cancer treatment for a family member.

With medical costs increasing over time, it has become more critical than ever to secure ourselves with health insurance to access quality healthcare when needed. “The situation becomes even more challenging in the case of critical illnesses or life-threatening diseases, such as cancer or kidney failure. So, staying financially protected is of utmost importance,” says Bhaskar Nerurkar, head-health administration team, Bajaj Allianz General Insurance.

The First Line Of Defence: Comprehensive Health Policy

Buy a comprehensive health insurance plan to cover various health conditions, including cancer. This can form the base for the financial war that you would face upon detection of a disease like cancer.

When doing this, you need to keep two things in mind. First, the coverage should be adequate, and second, if the cancer condition is accepted under a comprehensive health insurance policy, coverage is provided for inpatient treatment (IPD) up to the sum insured, subject to the initial waiting period and policy terms and conditions.