Education the key to mitigating the financial costs of cancer

Jonahan Faurie, FAnews Jounalist

Cancer is one of the few topics in society where people are even scared to talk about it behind closed doors in hushed tones. While there have been major medical advancements, which has seen many severe cases of cancer being beaten, it still has a major s

But as with many subjects in South Africa, the reason behind the stigma and the viewpoint of cancer being a death sentence is that there is very little education on the topic. If more people knew about cancer and the treatments available, then there would be fewer cancer related deaths in society.

A unique collaboration between advocacy group Campaigning for Cancer and financial advisers hopes to change this.

Bold steps towards education

While many people rightly feel that the main fight is battling the cancer itself into remission, not enough attention is paid to the significant financial pressures the cancer battle can put on families; both during and after treatment.

This is the heart of the campaign. Campaigning for Cancer is an advocacy organisation which was formed in 2008 and aims to give South African patients and families affected by cancer a voice. The group has developed a project which could work towards educating South Africans regarding how to choose medical gap cover and long-term medical insurance.

Speaking at an event hosted by life insurer BrightRock, Campaigning for Cancer CEO Lauren Pretorius reports that this will be achieved by means of easy to understand information provided by expert financial advisers. Another key aspect of the campaign is the use of public figures who have won their battle with cancer to provide insight into the life of a cancer survivor.

One such figure is 1995 World Cup winning Springbok Chris Rossouw who was diagnosed with Stage 3 Lymphoma at the age of 36. “The use of a well-known individuals’ stories help create platforms where the survivor’s story and experience can be told to highlight awareness about the challenges faced by patients through their cancer journey,” says Pretorius.

Real life horror after a brave fight for survival

Rossouw’s story is not unlike the many other cancer stories we hear about every day. As pointed out earlier, he was diagnosed at 36 which came as a big shock to him as there was no history of cancer in his family and he was a relatively fit individual having ended his rugby career just three years earlier.

And his fight after beating the cancer is also not dissimilar to your normal cancer survivor. After going through chemotherapy and radiology, he was faced with a mountain of medical bills.

“Only once I had recovered from my cancer was I faced with the fine print and the challenges my diagnoses posed to my ability to obtain future insurance cover. I found myself in a black hole of insurance where words like exclusions, risk analysis loading and disclosures became standard language used by the insurance companies I approached for cover. I urge the public to get cover for cancer as soon as possible even if you are healthy,” says Rossouw who recalls seeing fellow World Cup winner Ruben Kruger in the hospital. “That was the first time I saw Kruger after celebrating our historic win, he unfortunately didn’t make it. If he had the cover that is available today, he would be joining this campaign with me.” Another former Springbok who has recently beaten cancer is Rob Louw who now also faces an uphill battle with medical bills.

BrightRock Executive Director Schalk Malan has seen many examples of this in the industry and has said that BrightRock will be putting their full weight behind Campaigning for Cancer. “We applaud the initiative and we are proud to play a role in helping them educate South Africans about how insurance products can enable them to provide for the potential costs of cancer. Too many people are without cover, or are uninformed about how their cover works. Some are even ignorant on both accounts which leaves them, once diagnosed, with a battle on two fronts. Fighting cancer and then its financial impact.”

Staggering statistics and mitigation measures

It’s always frightening to reflect on the statistics of cancer, but it is necessary to put the importance of this campaign into perspective. Research conducted by Munich RE shows that a 40-year-old male smoker has a 21.8% chance of getting cancer before the age of 70. A 50-year-old female smoker has a 13.6% chance of getting cancer before the age of 65. In fact, smoking increases a 40-year-old females likelihood of contracting any form of cancer by around 25%.

And if these statistics weren’t sobering enough, Munich RE shows that cancer cover in South Africa is significantly underfunded by about R4-billion.

This was the motivation behind the campaign and Pretorius’ unwavering efforts to educate the nation on a condition which can be beaten if approached properly. “We are aware that there are a lot of companies out there who offer cancer specific cover. However, we would like all insurers and underwriters to explore insurance products which cater towards cancer survivors and address issues which may affect cancer patients with existing insurance products.”

The role of the industry

A specific objective of the Campaigning for Cancer project will be to encourage insurance product developers to take into account how clients are affected by a cancer diagnosis and how the long term survival of patients can be catered for. This is actively pushing the philosophy that once you know the risk …you can cost the risk. Pretorius points out that her company has already teamed up with BrightRock and it will only be a matter of time before we see other insurers following suit.

It is estimated that eight million South Africans purchase medical scheme cover each year. However, with the ever increasing cost of cancer treatment, additional non-medical expenses and decreasing scheme benefits may force many to look into insuring themselves against the potential financial impact of cancer through alternate insurance products such as life, critical illness and disability cover.

Editor’s Thoughts:
Insurers estimate that between four and five million South Africans will take out alternative cover within the next year, but will they understand the implications a diagnosis of cancer will have on the insurance products they have purchased or will purchase in the future? Are brokers fully aware of the cancer cover in the market and the importance in purchasing additional cover such as life and critical illness cover? Please comment below, interact with us on Twitter at @fanews_online or email me your thoughtsjonathan@fanews.co.za.