George Kolbe
As Movember kicks off, men across the globe grow a fantastical array of moustaches to raise awareness for men’s health issues – with a particular emphasis on prostate and testicular cancer.
But while they are trimming those glorious ‘taches and encouraging their mates to get check-ups, there’s another conversation that men should be having this month: Financial Protection.
"Many men tend to overlook the importance of financial protection until faced with a significant health issue," says George Kolbe, Head of Life Insurance Marketing at Momentum. "Movember is the perfect opportunity to address both health and financial protection in one go. Afterall, what’s the point of growing a moustache if you’re not going to take steps to protect yourself and your loved ones against life’s uncertainties? "
Men’s health: the numbers behind the ‘tache
According to Momentum Life Insurance’s latest claim statistics, cancer remains the leading cause of critical illness claims among men, accounting for 37% in 2023. Of these, male cancers like prostate and testicular represented 33% of the claims. For men aged 60 and over, these cancers represented almost half of the cancer claims, at 43%.
"The numbers speak for themselves," Kolbe says. "The risk of developing male-specific cancers increases significantly as men age, but even younger men are not immune; for instance, in 2023, our youngest claimant was only 23 years old and claimed for testicular cancer. This makes life insurance a critical component of safeguarding your family’s financial future."
The claim stats reveal a dramatic rise in male specific cancer cases among men under 40, jumping from 7% in 2022 to 22% in 2023. Kolbe says this spike serves as a stark reminder that men, regardless of age, need to take their health – and their financial security – seriously.
"Men in their 30s and 40s often assume they’ve got plenty of time to think about life insurance," says Kolbe. "But the sharp increase in male cancer claims among younger men proves that health issues can arise at any time. Planning ahead with the right life insurance policy is something every man should consider, regardless of age or current health status."
Health vs lifestyle: more than just the stats
It’s well known that lifestyle plays a significant role in men’s health, and one factor that continues to emerge in critical illness claims is weight. In 2023, Momentum found that 81% of claims for male cancers were from individuals whose Body Mass Index (BMI) classified them as overweight. Of those, 61% were considered obese.
"There’s a clear link between BMI and prostate cancer risk," Kolbe notes. "While managing your weight and health is essential, so is preparing for life’s uncertainties.”
Why being financially prepared matters this Movember
In the spirit of Movember, Kolbe believes it’s important to start those difficult conversations about men’s health, but it’s equally crucial to have conversations about financial security. Life insurance might not be as fun as watching your moustache grow, but it’s the kind of cover that ensures your family is taken care of when life gets unpredictable.
"Movember encourages men to take their health seriously, and that includes taking a look at their financial health too," says Kolbe. "Life insurance is a fundamental part of protecting your family’s future. It’s not about being morbid or pessimistic; it’s about being prepared. And in my view, that’s the true mark of a modern man."
This Movember, let your moustache be more than just a symbol. Let it spark a conversation about your future ? both health and financial. Speak to a financial adviser and ensure that your financial protection is part of the legacy you leave behind, for the sake of those you care about most.
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