Fifty percent of female insurance claims were cancer related in 2012

Nicholas van der Nest, Divisional Director of Risk Products at Liberty Retail.

But Liberty warns: heart conditions and strokes are also major factors.

One in every 11 women aged between 20 and 59 years old will be diagnosed with breast cancer in their lifetime.

Breast cancer remains the leading killer among women in this age group, according to the World Health Organisation.

1. More alarming is that cancer cases will increase from an estimated 12.9 million in 2009 to 27 million in 2030, with 17 million cancer deaths, says a landmark report on the global cancer burden.

2. Having recently released its 2012 critical illness claims statistics, Liberty’s claims by gender reveal that this is in fact true. According to Nicholas van der Nest, Divisional Director of Risk Products at Liberty Retail, Cancer claims account for nearly 50% of all female claims, but only 32% of the claims for males. He says that of the R2.3 billion paid out in total claims, R370 million of that was towards critical illness cover.

3. Although the current insurance claims trends indicate that the most common critical illnesses in South Africa are cancers -- heart attacks, strokes, and coronary artery by-pass surgeries remain a major threat.

4. van der Nest alludes to the fact that the chances of acquiring a serious illness is unfortunately very high, as people are four times more likely to suffer a critical illness before they turn 65 than they are to die.

“The good news is that with modern technology and medical advancements many people are surviving these events and can carry on with their lives. However for others, surviving a serious illness means living with the financial consequences of the illness and this can be more debilitating than the illness itself,” he adds.

“Our main aim with publishing our claims statistics is to help consumers make informed decisions about their health and wealth. The statistics don’t lie, and illnesses are killing people at a rapid rate.  One may ask what you need to do to prevent this from spiralling out of control. The quickest answer is to live a healthier lifestyle and go for regular check-ups, thereby reducing your risk, especially if there are hereditary conditions at play,” concludes van der Nest.