Crowdfunding: An Alternative to Health Insurance For Cancer Treatments

By: Astha & Chiara

Published On: May 15, 2021

 In India, several people succumb to cancer due to delayed diagnoses and treatment. While a lot of aspects such as access to multi specialty hospitals factor in, poverty is one of the biggest reasons for cancer mortality. Cancer treatment costs lakhs of rupees depending on the form of cancer and the duration of the treatment. It thus becomes difficult for poor families to afford the treatments.

In the face of a deadly disease such as cancer, finances are the most important

While there are traditional healthcare financing options such as medical insurance, online crowdfunding can be just the right solution cancer patients need!

What Is Crowdfunding?

Suppose a farmer’s son is diagnosed with cancer and needs 6 cycles of chemotherapy to survive. But the farmer cannot afford Rs 3 lakh for his son’s life-saving cancer treatment. People from his village pool their money and send it to the farmer to save his son. This is what crowdfunding essentially means!

It is when several people come together to contribute small amounts for the cause that they believe in.

 In the larger picture, online fundraising connects the potential donors to those in need of funds without any expectation in return. 

What Is Health Insurance? 

Once purchased, health insurance offers to cover medical expenses up to a certain limit. It is a healthcare product that comes with different terms and conditions.


Why Is Crowdfunding A Better Option?

The Cost


Health insurance is expensive, which makes payment a struggle for many. It is also an added burden for families with low-income. Most families can’t afford health insurance. As a matter of fact, families with low incomes need medical funds the most. This is where the idea of fundraising or crowdfunding steps in.

An individual in need of medical funds can start a fundraiser  in no-time, the only payback crowdfunding requires is a thank you. Fundraising for cancer treatments on ImpactGuru is absolutely free of cost! Unlike medical loans or insurance, it requires no payback at all.  

While claiming insurance money can take days, which is a very long time for someone suffering from a medical emergency, crowdfunding with ImpactGuru facilitates flexible withdrawal of funds for urgent treatments.


Flexibility And Convenience


As for cancer, health insurance cost is subjective to the treatment required. Age is also a huge factor considering the increasing health complications as people grow older. Therefore there is a significant amount difference when you purchase health insurance at 30 as compared to 50. Insurance also doesn’t cover any pre-existing illness present in an individual. Thus, it may seem like a product that covers your medical charges but in reality, it is filled with many terms and conditions.

On the other hand, crowdfunding is simple and straightforward. It is the most transparent mode of fundraising. Everything that one needs to know about the process is crystal clear. It also offers authenticity and transparency for donors. Moreover, it is free of cost for cancer patients of all ages. 

Read Frequently Asked Questions about crowdfunding. 


Covering The Funds Required


Health insurance has something called a Co-Play clause, which only offers to pay the set amount  of your medical bills. It does not cover the entire medical cost.

Whereas, when it comes to fundraising, the funds raised for your cancer treatment fundraiser will show on the ImpactGuru campaign page. Health insurance as a whole is a costly service for most middle-class families to purchase. Medical emergencies are unexpected, crowdfunding helps share the financial burden of families who are unable to cover these expenses.

Here is How medical crowdfunding can help in 2020