Canadian Cancer Society 2008 Statistics

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• Cancer incidence is rising in women age 20-39
• On the basis of current incidence rates, almost 40% of Canadian women and almost 45% of men will develop cancer during their lifetimes
• On the basis of current mortality rates, 24% of women and almost 29% of men, or approximately 1 out of every 4 Canadians, will die from cancer

Cancer in children creates a disproportionate impact on health, economic and social welfare systems, as a consequence of the loss of young lives. As well, both child and family are affected by emotional trauma and life-long consequences. Families affected by childhood cancer must often provide care for other young children in the home while attempting, at the same time, to navigate their way through the health and social welfare systems. Parents often work less or stop working altogether, which creates financial stress.

You can survive cancer...but can your bank account?

I recently read the article that was posted in the Star Phoenix and Leaderpost entitled "Life After Lung Cancer". Randy Moore describes how he was healthy, he never saw it coming, and then one day BOOM, he is diagnosed with lung cancer and his whole life changes.

I love this quote he says:

I think there's a lack of education where people don't realize that in fact you can live if you are diagnosed with something like this [lung cancer]. So I think there should be more education.

I love it Randy Moore. You are right on with what I strongly believe. With advances in medical technology today, your chance of survival is very high. In fact the Canadian Cancer Society says you have a 55% chance of survival from cancer (includes all types). And the Heart and Stroke Foundation says you have a 95% of surviving a heart attack and an 85% chance of surviving a stroke.

So again, I put the questions out there. What are you going to do about your bills, your mortgage, your retirement fund, your child's education, if you find yourself sick one day and realize that your provincial health plan is not covering 100% of the costs of your medication. It sure as heck isn't covering any of the new drugs out there -- as those take months/years to pass through legislation. So if you want the best and newest drugs to cure your cancer, heart attack or stroke, how are you going to afford? Do you think your doctor is going to order you back to work asap? Probably not.

You need time to heal, regain your strength, beat cancer. But can you do this with no income? Some people believe that their disability plans will cover them. But disability plans only pay out 60% of your current salary, and they don't cover the added costs of medication and treatment.

Look at Randy Moore. Who do you think paid for his flight to Vancouver? He did. And the PET scan he talks about is not covered by most provincial health plans. The Canadian Cancer Advocacy stated in April 2008 that the average cost of a PET Scan is $22,000. I wonder how Randy Moore afforded this.

This is why Dr. Marius and Dr. Christian Barnard created critical illness insurance. It wasn't created by actuaries and insurance people, it was created by doctors. So you can heal yourself and still pay your bills. So you don't have to rush back to work. So you can take care of life's money problems and only worry about getting better.

Because chances are you will survive!

The following article is an extract from a speech given at the MDRT Meeting in 2003 by top Australian insurance advisor Godfrey Phillips. MDRT is the world organization supporting life insurance and those who promote the benefits of life and serious illness insurance worldwide. I offer critical illness insurance as part of your life insurance plan. It can also be arranged on its own (please contact me directly for a quote on this). Read on for some logical arguments for taking out this type of coverage...

"In 1999, I was able to secure Dr. Marius Barnard as a speaker for our annual meeting of life insurance advisors in New Orleans. This is the same Dr. Marius Barnard who assisted his brother, Dr. Christian Barnard, perform the first successful human heart transplant more than 30 years ago.

By speaking at this meeting, he achieved one of his life long goals and I’m delighted to have assisted him towards this achievement. Dr. Barnard noticed that many of his surviving patients faced difficult financial situations due to the cost of recovery, rehabilitation, on-going therapy and an inability to return to work. His concern led him to develop the concept of “Critical (Serious) Illness” Insurance for patients surviving the diagnosis and treatment of critical illnesses, firstly in South Africa, then the U.K., Australia, N.Z, Canada and only in recent years in the U.S.A and wider Europe.

In the Australian Financial Review (AFR) on the 25/05/2002, Dr. M. Barnard stated, “Claims experience shows the 3 major reasons for Trauma Insurance claims are Heart Attack, Stroke and Cancer. 75% of the population will suffer from one of these in their lifetime.”

To understand Critical Illness Insurance successfully, it’s important for you to be aware of the statistics of 100 years ago, compared to what they are today. People are living longer today (because of improved medicine and science) after suffering a Critical Illness, but it’s their Financial Health that suffers. The World Health Organisation says health consists of 3 parts:

- Physical Health
- Social Health
- Financial Health

Health is seen as a resource for everyday life. The basic resources for health are Income, Shelter and Food. We get out of bed each day to go to work to earn money. Why did we get out of bed? BECAUSE WE ARE HEALTHY. Without our health, there’s a threat for those resources for everyday life. It is very easy to understand that the concept of Health consists of 2 parts:

1. Your Physical Health, which is needed to bring out your opportunities in life to earn yourself money
2. Your Financial Health, which gives you the definition of MENTAL, SOCIAL & PHYSICAL well-being. Health, wealth & happiness are the basic fabric for our everyday lives.

Dr. Marius Barnard warns us that our Health WILL go wrong, and permit me to share some statistics with you. Since 1901, we are living longer; however, along with an increased lifespan comes an increasing risk of suffering a life-threatening medical condition. Look at the major causes of death: From 1900 to 1999: Heart Disease, Stroke and Cancer increased from 18% to 59%. That’s a staggering increase of 41%.

Over the last century the major causes of death shifted dramatically from infectious diseases like T.B. to lifestyle conditions, such as Heart Disease, Stroke and Cancer. So Lifestyle is now our biggest threat. Permit me to share some frightening Australian statistics for the “BIG 3”, Cancer, Heart Disease and Stroke.

CANCER

- 1 in 12 Australian women will develop Breast Cancer.
- 33% of the population will suffer from Cancer during their lifetime. That’s 1 in 3 in this room!

HEART DISEASE

Every year:
- 160,000 Australians are hospitalized for coronary heart disease
- 28,000 die from heart disease
- 17,150 undergo by-pass surgery

STROKE

Every year:
- 52,000 Australians suffer a Stroke
- 60% are women
- 40% are under age 65

In fact, you have a greater chance of suffering a Critical Illness and surviving, than you have of remaining healthy or of dying prematurely! Nearly 46% of males aged 40-65 will suffer a Critical Illness and survive.

- 20% die and
- 1/3 are healthy

And my question always is, “Mr. P. knowing this horrific statistic will affect your Financial Health, do you still want to self-insure, or would you like me to show you how you could be Financially Insured against a Critical Illness, for just DOLLARS (EUROS) a day?” The average age of a Critical Illness claimant is 43 years. Critical Illness Insurance is necessary not because you die but because you survive.

Medically – you may or will survive
Financially – you may die

Survival is increasing for Critical Illness. If we look at Coronary Artery By-Pass operations from 1970 to 1990, we see the number of By-Pass operations has gone up from 50 operations done in 1970 to nearly 11,000 in 1990. AND the death rate in 1970 was 20% compared to a low 2% in 1990. So, survival is increasing.

The message is clear – Critical Illness Insurance is critical to your financial independence."