We have all read about or been close to someone who has been diagnosed with cancer and have some awareness of the emotional cost and of course the effect cancer has on your health.
But have you ever stopped to think about the financial burden?
The below article from the Sydney Morning Herald provides some insight into the financial cost of cancer.
Some of the information is quite shocking and makes you think twice about your health insurance and choosing the rights specialists for you. Some key takeouts for me were:
- It is estimated (according to the article) that 145,000 people will be diagnosed with Cancer this year. 50% of people will be diagnosed with it in some form by their 85th birthday.
- The Consumers Health Forum of Australia found that half of those treated for cancer, will incur out of pocket costs of $5,000. One out of four people will pay in excess of $10,000.
- Not all cancers receive equal funding or have the same sort of support from charities which can make the prognosis very different.
Having the right personal insurance plan in place can help safe guard you against some of these costs. If you would like some more information you can check out my videos on personal insurance here.
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