Breast cancer leading cause of cancer claims according to Altrisk

Craig Harding

According to Altrisk, cancer is the leading cause of all insurance claims across critical illness, income protection and life cover for the period July 2010 to June 2011. In terms of critical illness cover, 62% of all claims paid by Altrisk were for cancer. Of these, breast cancer claims accounted for 45% of all cancer-related claims made by women. Of the women who claimed for breast cancer, 75.5% were between the ages of 37 and 58.

According to the Radiological Society of South Africa, breast cancer is the most common cancer in women with one in 29 South African women being diagnosed with breast cancer in their lifetime. In ‘westernised’ communities, the incidence increases to one in eight and, where there is a family history of breast cancer, the risk increases to one in six.

It is important to note, however, that breast cancer is not a disease that only affects women. While male cases of breast cancer diagnosis are rarer, there is still a risk to men – particularly those with a family history of breast cancer. It is therefore just as important for men to be aware of their family’s cancer history, as well as the signs and symptoms of breast cancer.

Craig Harding, managing director of Altrisk, says: “It is critical for us all to be aware of the prevalence of breast cancer. We should encourage all spouses, friends, and family to increase their understanding of this disease, as well as their knowledge of the risk factors affecting their personal circumstances. Only then can those at risk take the necessary steps to detect the disease early.”

The RSSA supports this premise, indicating that early diagnosis gives the cancer patient a higher chance of complete recovery and less extensive surgery. Early detection is thus an important factor in winning the battle against breast cancer. The National Cancer Institute recommends that women aged 40 or older should have a mammogram every one to two years. An annual clinical breast examination by a healthcare professional, over and above a monthly personal breast exam, is essential. This is because some cancers cannot be detected by a screening mammogram, but may be identified clinically. Women who fall within a high risk group should schedule an annual mammogram and breast MRI.

Modern women are privileged to have a number of advanced technologies available to assist in the early detection of breast cancer. However, gaining access to these technologies can prove to be expensive. Similarly, should you contract breast cancer, the cost of treatment and care can place a significant burden on one’s family. The 2010 Life and Disability Insurance Gap Study asserts that South Africans remain seriously under-insured. This has a fundamental impact and repercussions on familial financial stability. For this reason, it is vital to make life, critical illness, disability, and income protection cover a priority in one’s financial planning.

“There’s a tendency to think that buying insurance cover can be delayed until some vague future date and it is common for people to avoid insurance completely. Regrettably it is these people that experience extraordinary amounts of stress when they are faced with the realities of managing a dread disease such as cancer. It is vital to work with your financial planner to ensure that you are protected in such instances,” concludes Harding.