When it comes to severe illnesses like cancer, in the past, we might have been afraid that there was no cure for it. However, nowadays, medical technology has advanced dramatically, giving us better access to treatment. However, looking at the other side, good medical technology that could cure or extend our lives is still expensive and difficult for the general public to access, especially with the current economic situation leading to higher healthcare costs. Today, we would like to invite everyone to plan and deal with the financial risks of cancer treatment with 'critical illness insurance'.

Before we plan to deal with the financial risks of cancer treatment with critical illness insurance, let's take a look at the severity of cancer, treatment costs, and current treatment guidelines first.

Statistics of cancer patients

"Cancer" is the leading cause of death in Thailand and has created significant economic losses. Data on Thai mortality in 2020 found that the number one cause of death was cancer, accounting for 36%. The trend of cancer incidence continues to rise, claiming over 60,000 Thai lives per year. The causes of cancer include both internal factors, such as genetics (5-10%) and external factors related to lifestyle and environment (90-95%), such as smoking, alcohol consumption, consumption of carcinogenic foods, as well as exposure to carcinogens from occupation and environment. Thailand is also facing environmental pollution issues, increasing the risk of cancer for its population.

We all know very well that cancer treatment is already costly. What is even more sinister is that inflation causes the cost of general medical care to increase significantly by 7-8% per year. This means that within 8-10 years, the cost of healthcare and various medical services may double. The amount received from group insurance or health insurance alone may not be sufficient to cover the increasing healthcare costs in the future, mainly if one develops cancer and requires access to modern technology for treatment, which can significantly increase the expenses.

Before we start planning to deal with expenses related to severe illnesses or cancer, let's introduce everyone to the current cancer treatment guidelines and access opportunities for cancer treatment for Thai people today.

Current Cancer Treatment Guidelines
Medical technology has advanced significantly, providing numerous cancer treatment guidelines available. Here are some examples for your reference:

●        Surgical treatment is a procedure to remove cancer cells using various techniques such as general surgery, laparoscopic surgery, cryosurgery, laser surgery, radiofrequency ablation, hyperthermia, and photodynamic therapy.

●        Radiation therapy is a treatment that involves using radiation to destroy cancer cells. It can be divided into two groups: External Beam, which uses radiation from outside the body to target cancerous organs, and Internal Radiation Therapy, which can be done by implanting radioactive materials or taking radioactive substances orally. These materials will then release radiation to destroy cancer cells in the targeted organs.

●        Chemotherapy, also known as chemo, involves using drugs to stop or slow the growth of cancer cells. This type of treatment is often used in combination with other treatments, such as targeted therapy or radiation therapy.

Chulalongkorn University researchers have developed "Antibody-based immunotherapy for cancer treatment"

In addition to current cancer treatment methods, there is also a highly popular method of treating cancer with immunotherapy drugs that is widely used in other countries. For example, the United States has started using these antibody drugs in combination with traditional treatment methods to treat cancer. However, due to the high cost of these drugs, reaching tens of thousands of baht, they are not easily accessible to the general public. Researchers at Chulalongkorn University Hospital aim to produce these drugs at a lower cost so that all Thai people can have access to them.

Although researchers at Chulalongkorn University are trying to develop affordable drugs for cancer patients, it still does not cover all treatments. For those who want to access the best treatment, financial planning is important.

Plan with critical illness insurance.

Financial planning can be done in many ways, but it may be a bit overwhelming. However, planning for financial security against serious illnesses with iShield will provide direct and comprehensive coverage for medical expenses related to critical illnesses, giving us peace of mind. This includes purchasing insurance as follows:

●        Treatment budget should be roughly set to accommodate treatment costs. For example, if it is a government hospital, the cost of a cancerous tumor ultrasound will be around 110,000 baht. However, if treated at a private hospital, expenses can be 3-7 times higher. Therefore, purchasing critical illness insurance will expand the existing budget of healthcare benefits to allow for increased treatment costs, which can be updated annually along with the option to purchase additional health insurance.

●        Severe illness insurance that provides benefits when a serious illness is detected. Some policies cover every stage of detection, while others cover only advanced stages. It is important to consider the coverage stages of the illness before making a decision. Once benefits are paid according to the coverage, the policy will end in that year.