Why you must buy cancer insurance: These 3 reasons can save your life and money too

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Updated: Aug 28, 2017 5:07 AM

If you are the only breadwinner in your family, then you shouldn’t think twice before investing in a good insurance plan that covers you against life-threatening diseases such as cancer.

It was once famously said that taking care of your body is insurance for your soul. However, sometimes taking care is not good enough and people end up suffering from fatal diseases like cancer.

It was once famously said that taking care of your body is insurance for your soul. However, sometimes taking care is not good enough and people end up suffering from fatal diseases like cancer. And it’s during these times that you need a stress-free financial support like insurance. If you are the only breadwinner in your family, then you shouldn’t think twice before investing in a good insurance plan that covers you against life-threatening diseases such as cancer. And cancer insurance is the easiest way to protect you against this deadly disease.

Smoking raises cancer risk

An alarming report from WHO highlights that around 22% cases of cancer deaths is due to usage of tobacco. The five most common types of cancer that kill men are oesophagus, lung, stomach, liver and colorectal cancer. If someone in your family has had cancer, you could be more susceptible to getting it due to genetic reasons.

Environmental factors

Around one-third of deaths from cancer are due to external causes like pollution, lifestyle choices and dietary risks. If you live in a highly polluted environment or are exposed to UV rays more than usual then there is a high probability of developing cancer. Now we can’t protect ourselves against air or water pollution, or food adulteration most of the time, but we can easily buy cancer insurance to ensure financial security.

Cancer treatment is expensive

One session of chemotherapy, part of one of the most prevalent treatments, can cost as much as Rs 90,000 if cancer is detected in the later stage. Even the lowest expenditure for cancer treatment can be as high as Rs 2.5 lakh in six months and go up to Rs 20 lakh. There are various kinds of insurance policies available for men who are above 18. So, go for a suitable cover, and save your family from a fiscal crisis. For most cancer-specific policies, the minimum entry age is 18 years and the maximum age is 65 years. Most insurers have policies that have a minimum sum assured of Rs 5 lakh and maximum Rs 50 lakh. A cancer cover will give protection against a huge expenditure for a long time.

The author is head of Life Insurance,
Policybazaar.com

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