Know the Average Cost of Cancer Treatment in India
The World Health Organization estimates that 14 million people are diagnosed with cancer every year. In India alone, the National Institute of Cancer Prevention and Research estimates that 2.5 million people are currently living with the disease.
It is a fact that the very mention of cancer evokes fear in the hearts of most people. But this seemingly insurmountable disease has been studied for decades now and researchers have made great strides in finding a cure and improving the life of cancer patients.
Today, chances of survival are very high especially if the cancer is detected early and if the patient has access to quality treatment. Despite this, it is definitely not easy to cope with this ailment.
The emotional impact of cancer
Even today, the mere mention of the “C” word, evokes fear and dread. Needless to say, cancer takes more than just a physical toll on the patient and their near and dear ones; it takes an emotional one as well.
Cancer is known to make people lose a sense of purpose in life. More importantly, it makes patients lose all hope of leading a normal life again. A person suffering from cancer is at a greater risk of developing mental disorders such as depression and anxiety. This is brought on by the extreme stress that patients are subjected to, not to mention the treatment’s side-effects on the body.
Family and friends are also deeply affected as it can be extremely difficult to watch a loved one suffer. Times such as these call for everyone involved to draw upon their inner strength. With the love and support of close friends and relatives, survivors can carry on living a normal life.
Financial implications of cancer
The treatment for cancer can be nearly as debilitating as the disease itself. Every year, more than 7 lakh new cases of cancer are registered in India, making it the second most deadly disease. Treatment in a private hospital costs a fortune, draining one’s savings.
An estimated 2.25 million1 people in India currently live with the disease, with the elderly particularly susceptible to it2. At this age, most people have dependants and unavoidable financial responsibilities. Cancer treatment is also quite prolonged, causing many patients to quit their jobs.
To pay for the expensive but necessary treatment, many people take loans, sometimes with high interest rates. If the breadwinner of the family is affected, the family’s financial future falls into jeopardy. An insurance policy proves to be a feasible way to make up for the cash drain and keep loved ones secure.
Importance of insurance
Cancer is a long-term ailment, and as such will have recurring costs. The effect of this on a family’s finances can be devastating, which means it is vital to purchase an insurance policy. It is also necessary to buy a cover that offers maximum protection.
HDFC Life Cancer Care Policy is a popular cancer insurance policy, offering a lump sum benefit on diagnosis. It also offers coverage against experimental treatments and travelling and lodging fees, which are typically not covered under medical insurance. The Aditya Birla Sun Life Cancer Shield Plan also offers excellent protection against the financial implications of every stage of the disease. Upon diagnosis of early-stage cancer, the insured receives a waiver of 5 years on the premium. These plans can be easily bought online through HDFC Bank NetBanking facility, apart from credit and Debit Cards. The plans can also be renewed through these payment avenues.
Cancer strikes hard and typically without warning. The number of cancer cases in India is only expected to increase in the coming years. Because battling the disease is especially hard on one’s finances, being financially prepared for the future can help us muster the inner strength needed to tackle any challenges that may come our way.
Read more about Health Insurance in India.
* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action.