LIC sells 88750 cancer policies

Life Insurance Corporation has sold 88,750 cancer policies across India after 5 months of the launch of its unique cancer cover, with a sum assured of up to Rs 50 lakh.  Interestingly  just four states — Maharashtra, Gujarat, Tamil Nadu and Kerala — accounted for 58.5% sale of these cancer policies during this period. The west zone, comprising Maharashtra and Gujarat, have taken 26,280 policies. South zone, comprising Tamil Nadu and Kerala, have taken 25,670 policies, accounting for the maximum number of cancer cover policies sold so far.

LIC said in a statement: “As on date we have sold 88,750 policies with a first premium income of Rs 42.68 crore.” Incidentally, the first ever state-level disease burden study released last November showed that Tamil Nadu, Kerala, Maharashtra and Gujarat, which are placed higher on the development ladder, have become hubs of non-communicable diseases, including cancer.

According to a new report published last month in the medical journal Lancet Oncology, the burden of cancer in India is over 1.5 million new cases, and is predicted to nearly double in the next 20 years with age-adjusted mortality rates of 64.5 per 1,00,000 people. The study also pointed out that fewer than 30 per cent survive five years or more after diagnosis.