Crowdfunding: An Alternative To Health Insurance For Cancer Treatments

By: Astha, Chiara

Published On: May 24, 2021

Crowdfunding: An Alternative To Health Insurance For Cancer Treatments 


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, the inability to fund the treatment to the very end 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 families of all segments of society to afford these 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 for cancer patients’ needs!

What Is Crowdfunding?

Suppose the son of an IT manager is diagnosed with cancer and needs 6 cycles of chemotherapy to survive. But the family cannot afford Rs 11 lakh for their son's life-saving cancer treatment. The family reaches out to friends, family and a network of people within and around their social groups, who eventually come forward to pool in the money to help the family cover the cost for the little boy.  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


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 inexpensive. We charge a 0% platform fee to all fundraisers under the Self-Driven plan. 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. Medical insurance also doesn’t cover any pre-existing illness present in an individual.

Crowdfunding is a solution that has proved to be a more viable one for when people don’t have medical insurance or are unable to procure a medical loan. When focusing on flexibility, crowdfunding allows you the ease of starting a fundraiser in 5 min, raising any amount of funds you need and the convenience to extend your fundraiser in case you are in need of more funds. 

Read Frequently Asked Questions about crowdfunding. 

Covering The Funds Required


Health insurance has something called a Co-Pay 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