The cancer mortality rate for individuals in the first income bracket, representing the lowest 20 percent in terms of income, has been revealed to be 1.5 times higher than that of those in the fifth income bracket, which comprises the top 20 percent in terms of income. (Image courtesy of Korea Bizwire)
SEOUL, Oct. 23 (Korea Bizwire) – The cancer mortality rate for individuals in the first income bracket, representing the lowest 20 percent in terms of income, has been revealed to be 1.5 times higher than that of those in the fifth income bracket, which comprises the top 20 percent in terms of income. Considering the long-term treatment and management required for cancer, the probability of survival is influenced by the ability to pay for treatment.
On Sunday, Hanwha Life Insurance announced that its big data expert group, DataLAB, conducted an analysis of death rates based on income levels among recipients of cancer insurance payments from 2008 to 2022.
The number of cancer patients in the country reached 247,952 in 2019, marking a 2.5-fold increase from the 101,849 reported in 1999. However, the five-year survival rate significantly improved, jumping to 65.6 percent between 2015 and 2019 from 39.4 percent between 1993 and 1995.
In order to assess the impact of cancer diagnosis insurance payments on cancer survival rates, DataLAB analyzed the mortality rates of those who received such insurance payments during the period from 2008 to 2022.
The analysis revealed that the mortality rate for individuals in the first income bracket was 31.8 percent, approximately 1.5 times higher than the 20.7 percent for those in the fifth income bracket. The second income bracket had a 29.9 percent mortality rate, followed by the third income bracket at 28.4 percent, and the fourth income bracket at 26.8 percent. This indicates that as income levels increase, the mortality rate decreases.
In contrast to the past, the cancer survival rate is now close to 70 percent. This progress suggests that higher income levels provide individuals with more opportunities for treatment at superior medical institutions, thereby reducing the mortality rate.
DataLAB also analyzed the mortality rates within five years for clients who received cancer diagnosis insurance payments. The cancer mortality rate for those who received more than 50 million won in diagnosis insurance money was 15.7 percent, less than half of the 34.4 percent for those who did not receive diagnosis insurance payments.
Notably, the cancer mortality rate for individuals with more than 50 million won in cancer diagnosis insurance money was less than 20 percent, regardless of their income level.
Ashley Song (ashley@koreabizwire.com)
