I am sure we all know someone who is currently, or has been in the past, affected by Cancer.
Although the likelihood of developing cancer is now higher (presumably down to better detection rates amongst other things) the latest statistics also show that there is a dramatic increase in survival rates.
The lifetime risk of developing cancer is now around 1 in 2.5 (40.3% for men and 38.8% for women), according to Cancer Research, based on 2008 data. Although cancer is often a disease of older ages, incidence under age 65 is still 1 in 4 (25.7% for men and 24.4% for women).
Incidence is also expected to rise from 298,000 in 2007 to 432,000 by 2030, mainly because of our ageing population.
However, Macmillan Cancer Support reports that the median survival period for cancer sufferers is up almost sixfold in the past 40 years – from 13 months in 1971/2 to 69 months in 2007.
In other words, most people diagnosed with cancer will now survive for more than five years and more people are living with cancer than dying of it.
Whilst there is no cure for cancer, there are certainly ways of ensuring that at a time when you least need to worry about finances. You can have the peace of mind knowing that a lump sum and/or a regular income are available to you through a Critical Illness policy or Income Protection Plan, or indeed the cost of care and treatment could be funded through a Private Medical Insurance plan.
With these increased survival rates, having the necessary cover in place is now more relevant than ever. Please contact us and we can explain the options in more detail.