Even with all the medical advancements in the 21st century, a cancer diagnosis is still one of the scariest diagnoses one can get. According to new research published by BMJ Oncology, cases of early-onset cancer, or cancer diagnosed in individuals under the age of 50, have surged by a shocking 79% over the last thirty years, with breast, bowel, and stomach cancers taking the lead as the deadliest cancers. The rise in diagnosis brings to light the need for cutting-edge medical interventions and sufficient financial protection to help those diagnosed with cancer not only survive, but thrive after diagnoses.
This does not constitute advice and advice should be sought in all instances before acting on it.
Cancer in under 50s
In 2019 alone, there were 3.26 million cases of early-onset cancer reported. Alongside the increase in cancer diagnoses, deaths as a result of cancer have also surged. More than 1 million people aged 50 and under died from cancer in 2019, up about 28% from 1990.
Unfortunately, based on trends from the last three decades, experts predict that cases of early-onset cancer will likely rise by an additional 31%, with deaths from cancer set to rise by 21% by 2030. People in their 40s are the highest at risk for developing cancer. Even now, with the advanced technology and treatment available, prevention and early detection remain extremely important in the fight against cancer.
Financial safety net
One of the unfortunate realities of a cancer diagnosis is that your treatment and recovery plan will more than likely mean that you will be unable to work. The reality for many people, especially those under 50, is that it is essential to work and bring in income. But since recovery should be the only thing you worry about after a cancer diagnosis, it is important to ensure that you have a financial safety net.
Critical Illness Coverage plays a crucial role in safeguarding individuals and families from the financial burdens that often accompany cancer treatment. A critical illness policy provides peace of mind knowing that your finances will experience little interruption even with a frightening diagnosis like cancer. With critical illness cover, you’ll get a tax-free lump sum to help you cover expenses that your income would normally cover. Of course, with the wide variety of policies available, you mustn’t forget to read the fine print as some will require a waiting period before a claim can be made, and in some cases, certain conditions won’t be covered.
Financial advisers to help you in the fight against cancer
A cancer diagnosis can often seem like it comes out of nowhere, but that doesn’t mean you can’t be prepared. Securing a critical illness insurance policy is one of the best ways to safeguard your finances during a time when you’re facing challenges left, right, and centre. To ensure you are adequately protected in the fight against cancer, discuss your options with the experts at Dental & Medical Financial Services.