Outlook Money
On World Health Day 2024, Apollo Hospitals released a ‘Health of Nation’ report labelling India as the “cancer capital of the world”, citing alarming rates of non-communicable diseases. It said it had identified a troubling surge in this non-communicable disease.
The the report said that the average age of breast cancer diagnosis in India was 52, significantly lower than 63 in the West. Similarly, for lung cancer, the average age of diagnosis at Apollo Hospitals stood at 59 years. Further, 30 per cent of colon cancer patients were aged under 50 years.
In India, insurance companies offer critical illness insurance policies either as standalone policies or add-ons to existing health or life insurance schemes.
Standalone critical illness policies cover comprehensive cancer care and typically span over 40 specific ailments. While regular health insurance plans primarily address the hospitalisation expenses, a separate critical illness policy covers any related costs related to the treatment involved.
If one cannot afford a critical illness policy, he/she can also go for cancer-specific critical illness riders. Opting for such riders at a younger age offers good protection against cancer at a fairly low premium.
To address the unique financial challenges posed by cancer, many insurance companies have introduced specific cancer insurance plans. The treatment may require multiple hospitalisations, surgeries and chemotherapy. These policies cover all types and stages of cancer and offer a lump sum amount upon diagnosis.
Compiled by Syed Muskan
Travelling Overseas Without Insurance Know The Consequences