International Cancer Insurance Guides

Why is Cancer Protection Essential?

One in five people will be diagnosed with cancer during their lifetime, and the number of cases is expected to rise significantly. By 2050, there could be over 35 million new cases each year, a 77% increase from 2022, with the largest growth in lower-income countries. This surge is driven by an aging population, longer life expectancy, and increased exposure to risk factors like tobacco, alcohol, obesity, and pollution.

Despite advancements in cancer treatment and a 33% decline in death rates over the last 30 years (US data), many people struggle to afford care. A World Health Organization (WHO) survey revealed that only 39% of countries offer basic cancer care as part of universal health coverage, and even fewer provide palliative care. The financial burden is even greater in low-income countries, where access to advanced treatments like radiation and stem-cell transplants is limited.

Cancer insurance is vital due to the significant financial challenges that come with a cancer diagnosis. Below are some important factors:

• High treatment costs: Cancer treatments, such as surgery, chemotherapy, and immunotherapy are expensive.  Treatments can cost over $42,000 in the first year alone (US data).  Some treatments can reach 1m US$.  
• Inadequate coverage: In many countries, healthcare systems don’t fully cover essential cancer treatments or palliative care.
• Cutting-edge therapies: Specialty drugs and cutting-edge therapies are usually not covered by public health benefit programs and are often excluded by private health insurance policies. 
• Income loss: Many patients must leave their jobs during treatment, leading to reduced income while medical bills continue to rise.
• Financial risk: Without insurance, individuals may deplete their savings, face financial ruin, or delay crucial treatments due to cost.

Cancer insurance comes in many forms, with varying coverage, pricing, and accessibility. VERVE CANCER provides well-researched articles to guide you through the available options and connect you with the insurance companies or brokers offering these solutions.