Kenyans troop to insurance firms for elaborate cancer cover
Insurance firms which introduced a cancer cover that adequately takes care of the expensive treatment are projecting high rates of subscription.
ICEA Lion, the latest entrant, has signed up over 1000 into the scheme just a month after introducing a maximum cover of Ksh. 15million.
“The amount of people who have inquired about the product in the first month is in excess of 1200 , this just shows you the amount of people who are suffering from the illness and are seeking treatment,” George Nyakundi, an ICEA general manager said.
The firm chose the path of setting up a medium to cover cancer cases because most local insurance shun from covering terminal illness.
ICEA estimates that by the end of the year, the number of covers issued for cancer will increase to 5,000.
Premiums vary depending on age, gender, habits, the period of cover, medical history among other things.
Nyakundi says Kenya’s first stand-alone cover for cancer caters for financial needs of patients from diagnosis, treatment, surgery to palliative care and relapse.
According to statistics from the World Health Organisation, 45,000 new cases of cancer are being reported in Kenya.
It is also estimated that it takes an average of Ksh. 2.5million for treatment per patient.
This has been a burden for most with its treatment taking a toll on both the patient, their families and often their finances.
“Wengi wanakufa kwa sababu ya pesa” Mary Muthoni, a cancer patient said.
Last year, UAP Old Mutual introduced a similar cover capped at Ksh. 20million for patients with chronic illnesses.
Like the ICEA Lion cover, clients receive the cash directly and decide how to spend it during the cause of the illness.