80% of deaths of Covid victims in Delhi is of those who are aged 50+

80% of deaths of Covid victims in Delhi is of those who are aged 50+

Statement of Delhi Chief Minister on 22 April -80% of deaths of Covid victims in Delhi is of those who are aged 50+ is a warning for all.

The reason is that as the age progresses beyond 50years human beings are prone to diseases like:

1. Hypertension
2. Diabetes
3. Cardiac
4. Bronchitis
5. Lung diseases
6. Pneumonia
7. Chest diseases

This means that due precaution should be taken by persons in this age group. If they have Health Insurance policy - it will be better.

Surprising, No Health Insurance Policy is available for Cancer Patients

India is having 30 Lakhs Cancer Patients and every year 8 Lakhs new patients get added to this number.

According to Mr. R.K.Chaturvedi, Adviser to Vedanta’s Cancer Hospital project.

“The number of cancer patients in India is rising alarmingly and from year 2020 onwards, the nation will add more than 20 Lakhs new cancer patients every year,”

It is surprising to know that not even a single Insurance Company is ready to provide Health Insurance for patients who are having pre- existing cancerous condition.

The Raheja QBE, who offers a product separately with the name “Cancer Insurance”, does not cover a pre- existing cancerous condition. They provide cover to the persons who have not been diagnosed cancer symptoms.

Some Life Insurance Companies as well General Insurance Companies offer Critical Illness Cover under which Cancer is one of the diseases. It means Raheja QBE has introduced a disfeatured Critical Illness product under the fancy name of “Cancer Insurance”. This product does not cover a pre- existing cancerous condition or patient. They provide cover to the health persons who have not been diagnosed with Cancer symptoms.

Now, here is a question that which is a better option for proposer or client.

-        To purchase a standalone Cancer insurance of Raheja QBE

-        or

-        To purchase a life insurance policy providing a critical illness cover. Here is a comparative analysis of the premium rate of two companies who gives cover against cancer.

TATA AIA: - CriticalIllness cover for the Sum Insured of Rs. 10 Lakhs for a person of age 35 will cost Rs. 8892.

Raheja QBE: - A person of age 35 to get cover against cancer for the sum insured of 10 Lakhs will cost Rs. 3060.

Therefore we can interpret that the Life Insurance plan for Critical Illness Cover may be much better & cheaper than standalone Cancer Insurance Policy.

Rajiv Gandhi Cancer Institute located in Rohini, Delhi has a scheme that those who are having no pre existing cancerous condition can make one time donation of Rs. 5000. They can have checkup and when required will be given free of cost treatment by this hospital in the event of person getting Cancer. 

Although, Rajiv Gandhi Cancer Institute is not Insurance Company but the initiative taken by this hospital needs appreciation.

Health care costs will go on going up as the price of real estate goes up in New Delhi & other Metro cities

Health care costs will go on going up as the price of real estate goes up in New Delhi & other Metro cities.

It is interesting to see ad of Delhi Development Authority (Government body controlling land in the capital city of India- Delhi/ New Delhi) which has advertised for plots for:

Hospitals
Nursing Homes
Polyclinics

in different parts of Delhi state.

You can look at sr. no. 2 where reserve price for 6 Hectar plot is Rs.464 crores. Assuming 500 beds will be available in this hospital the fixed cost of land for every bed will be Rs.92 lakhs. To this you have to add the following costs.

Construction cost
Equipment cost
Manpower cost

You can well imagine what a patient will have to pay when he is admitted to this hospital in 2016 or 2017, when the hospital will be operational.

This leads us to conclusion that one must have Health Insurance policy to pay for those costs.