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The advice provided on this website is General Advice Only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs.

©2019 By Your Life & Money Matters Pty Ltd.

The cost of cancer

May 6, 2019

We have all read about or been close to someone who has been diagnosed with cancer and have some awareness of the emotional cost and of course the effect cancer has on your health.

 

But have you ever stopped to think about the financial burden?

 

The below article from the Sydney Morning Herald provides some insight into the financial cost of cancer.

 

How much does it cost to have cancer

 

Some of the information is quite shocking and makes you think twice about your health insurance and choosing the rights specialists for you. Some key takeouts for me were:

  • It is estimated (according to the article) that 145,000 people will be diagnosed with Cancer this year.  50% of people will be diagnosed with it in some form by their 85th birthday.  

  • The Consumers Health Forum of Australia found that half of those treated for cancer, will incur out of pocket costs of $5,000.  One out of four people will pay in excess of $10,000.

  • Not all cancers receive equal funding or have the same sort of support from charities which can make the prognosis very different.

Having the right personal insurance plan in place can help safe guard you against some of these costs. If you would like some more information you can check out my videos on personal insurance here.

 

The advice provided on this document is General Advice Only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. If any products are detailed on this document, you should obtain a Product Disclosure Statement relating to the products and consider its contents before making any decisions.  

 

 

 

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