Peace of mind to aid recovery

Sylvia Walker

Breast cancer is on the rise worldwide. It has increased from 640 000 a year in 1980 to more than 1.6m in 2010, according to a study conducted at the University of Washington. In South Africa, the SA Medical Journal estimates that around 8000 women are diagnosed with breast cancer each year.

The Cancer Association of SA (CANSA) confirms that while more women are being diagnosed with breast cancer, they have a far better chance of surviving, thanks to improvements in medical detection and treatment. Getting medical intervention early means that many more women are able to lead happy, healthy lives long after diagnosis.

“If detected in Stage 1, there is a 95% survival rate,” points out Sylvia Walker, Market Development Manager at Old Mutual. “So it makes sense for women to go for regular mammograms. But breast cancer treatment and rehabilitation can be very costly and unfortunately most of us have only a sketchy idea of what our medical schemes cover.”

There may be no vaccine against breast cancer, she says, but we can make sure that if we get the disease we are able to cope financially. “It’s crucial to know beforehand what would be covered. The last thing you want to worry about when you face a severe illness is money.”

Remember you would need time to recuperate and if you work for an employer your services could be terminated due to incapacity. If you are self employed, no work means no pay and even if you are a housewife, you would need someone to take care of the household while you recover.

“Having money to tie you over gives you the privilege of being able to focus on getting well again,” adds Sylvia. “That’s why it’s so important to have a severe illness benefit plan that enables you to recover from treatment without being distracted and troubled by financial worries.”

Do remember these pointers when taking out severe illness cover:

• Make sure you understand the fine print
• Ensure your cover pays out on diagnosis of cancer
• Guard against cover that stops at a specific age, 65 for example. The older we get, the greater our chance of getting breast cancer, so cover that stops just does not make sense
• Check whether the company pays out in full or whether it’s a severity based product that provides tiered cover (depending on the stage of the cancer)

“At Old Mutual we pay 100% of the cover amount from stage one cancer,” says Dr Peter Bond, Chief Medical Officer for Old Mutual. “We don’t believe that the lifestyle impact on an individual differs according to the stage of cancer.

Dr Bond explains that treatment might be more aggressive at the earlier stages of breast cancer as the objective is to cure the disease. “Old Mutual’s Greenlight gives customers peace of mind by paying 100% of the cover amount upfront, enabling them to focus fully on the recovery process,” he says.

“You can’t see into the future, but knowing you’re financially prepared is good for your peace of mind. Speak to your financial adviser and ensure that you are covered for when life happens,” concludes Sylvia.