According to a study conducted by Edelweiss Tokio Life Insurance, 75 percent of cancer patients in India are either not insured or inadequately insured. This means that along with mental and physical strain, cancer ends up being a huge financial hit as well on these patients and their families.
In an interview to CNBC-TV18, Sumit Rai, MD and CEO, Edelweiss Tokio Life and Kshitiz Mahajan, co-founder, Complete Circle Consultants, discussed how to prepare yourself to mitigate the financial impact of this dreaded disease.
“About 12 lakh people are freshly diagnosed with cancer every year and we have about 7.5 lakh people who die out of cancer or related issues every year and those are big numbers; even in a country as large as ours,” Rai said.
“Most critical illness policies get consumed in the heart ailments. Cancer is probably the most expensive in terms of treatment. So to my mind, it is always prudent to have an additional cover which is specific to that,” Rai added.