World Cancer Day: Know why to consider life insurance policy with cancer cover

February 04, 2021 4:09 PM

A life insurance policy with a Cancer cover is one of the best ways to ensure one’s family is protected from the financial burden and the life goals are safeguarded.

World Cancer Day, life insurance policy, Cancer cover, life goals, hospitalization , lifestyleOne must be cognizant of the fact that good Cancer treatment in the best hospitals comes at a cost.

By Aalok Bhan

Recognized as a key international awareness day on the global health agenda, ‘World Cancer Day’ is observed across the globe on the 4th of February every year. Founded to unite the world in its fight against Cancer, the day aims to help save millions of preventable deaths by raising education and awareness while encouraging individuals, communities, and governments far and wide to take necessary action.

With COVID-19 impacting every aspect of life and resulting in widespread health deterioration, there is a sense of urgency when it comes to medical care and ensuring physical wellbeing. It is, therefore, crucial to remain aware of the disease, the primary possible causes of Cancer, and the perceived threat to make necessary alterations.

Understand what triggers Cancer

Often described as a “battle” that one has to “fight” to survive, the threat of Cancer looms large in our lives. However, do we even know what triggers Cancer? With changes in socio-economic patterns across the globe, lifestyle and dietary habits have undergone significant change. Smoking, high-fat diet, and engaging with toxic chemicals are some examples that may be risk factors for some adult cancers.

While a risk factor is not necessarily responsible for the disease, it may make the body less resistant to it. It is, therefore, crucial to familiarize oneself with the risks and triggers and take appropriate action in line with that.

A healthy lifestyle and regular medical care can go a long way

The most common kinds of Cancers i.e. oral, lung, and colorectal, are primarily caused by high tobacco consumption and poor overall bodily health making it even more important to make conscious lifestyle changes that ensure prevention on time. Maintaining a healthy weight can lower the risk of various types of Cancer, including Cancer of the breast, prostate, lung, colon, and kidney.

It is therefore important to include certain food types especially cruciferous vegetables in the diet while also steering clear of tobacco consumption and remaining conscious of maintaining good health by indulging in Yoga and regular exercise. A collective combination of these has been proven to break clusters of mutated cells down into biologically active compounds reducing the risk of Cancer to a larger extent.

Furthermore, one must also make regular medical screenings a priority that aid in early detection of the disease, helping increase the chances of treatment and recovery.

Ensure appropriate financial protection

Ensuring financial protection in the face of Cancer is critical because depending on the type, stage, and complexity, Cancer treatment costs can easily run into a few lakhs rendering the patient and his/her family financially drained.
As per a recent survey, it was found that in the backdrop of Covid-19, 25% urban Indian respondents, as opposed to earlier 19% respondents (pre-pandemic), thought about critical illness preying on them. In comparison to 18% (pre-pandemic), a higher 25% had the realization of death and thought about the financial stability of the family in case of the untimely death of the breadwinner. The same points towards evolving financial prudence of the population.

Consider a robust life insurance policy with Cancer cover

A life insurance policy with a Cancer cover is one of the best ways to ensure one’s family is protected from the financial burden of this disease and that the eventual life goals are safeguarded.

One must be cognizant of the fact that good Cancer treatment in the best hospitals comes at a cost. While a typical health insurance policy is merely limited to hospitalization expenses and reimbursements, here is where, a standalone Cancer life insurance policy helps with a lump-sum amount to cover medication, post-treatment, etc. providing the affected family with much-needed financial stability.

Offering a new lease of life, a standalone Cancer life insurance plan serves to reduce the financial trauma that one may experience in the shortage of adequate funds for recuperation and post-hospitalization care, which could typically last 3-5 years.

Keeping these points in mind, and aligned to the World Cancer Day theme of ‘I Am and I Will’, let us resolve to take meaningful action by recognizing what we can do to safeguard ourselves against the disease and take prudent steps in that direction.

(The author is Director & Chief Marketing Officer, Max Life Insurance )

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