69pc people have no financial preparedness to deal with cancer: Survey

New Delhi, November 05, 2017:  An alarming 69 per cent of Indian people have no financial aid whatsoever at their disposal to deal with cancer.

According to a survey done by Future Generali India Life Insurance (FGILI), namely ‘Cancer Financial Preparedness Survey’, 21 per cent of respondents have a specific ‘cancer’ insurance cover to facilitate their medical expenses, as per oncologists.

The Survey revealed that 26 per cent of the respondents would resort to taking a loan to bear the cost of the treatment whereas 31 per cent of the respondents have not even deliberated on the need of a financial plan to fight cancer. Almost 63 per cent of cancer patients admitted to having sought their oncologist’s advice to fund the cost of treatment and consequent expenses.

The results of Future Generali’s ‘Cancer Financial Preparedness Survey’ brought to light inadequate awareness levels amongst the respondents with regards to incidences, stages, types and cost of treatment of cancer.

The survey said that more than half (56 per cent) of respondents were unaware about the incidence of cancer within their family and friends circle. This is alarming, given that oncologists’ also opine that 3 in every 10 Indians are likely to contract the disease by 2020. The survey revealed that 65.7per cent (2 out of 3) cancer patients were detected in the 3rd or 4th stage.

42per cent of respondents perceived themselves to be ‘somewhat’ in the know of the various stages of cancer whereas 28per cent of respondents thought they were ‘completely aware’. In contrast, the oncologists’ survey revealed that only about 7per cent of patients hold ‘complete awareness’ of the different stages of cancer, while 30per cent possess a ‘reasonable understanding’ of the same.

It also revealed that a majority of respondents estimated that the average cost of cancer treatment was Rs 3.9 Lakh. Oncologists disclosed the average cost of treatment to be upwards of Rs 5 Lakh depending on the type of cancer and stage of detection.

Cancer treatment can vary depending on the type, stage and other health factors. The cost of treatment therefore, can also vary between 5 lakh to 20 lakh or more. In a breakthrough finding, the survey also highlighted significant dependence on the doctor for financial advice as patients inadvertently look up to them for assistance in dealing with the cost of medical treatment.
United News Of India