June 17, 2015 by Rebecca Crommelin
It's easy to assume 'it'll never happen to me' but none of us are immune from illness or injury, and the lifestyle you've worked so hard to enjoy can quickly be replaced by financial struggle. It makes personal insurance an essential part of your wealth creation plan.
We all know someone who has been suddenly diagnosed with cancer or has had a stroke. It's estimated that almost 'one in two Australian adults aged 30 plus will experience a serious health condition like a stroke, heart attack or cancer'. It's a scary thought.
Critical Illness Insurance pays an agreed lump sum if you suffer a listed serious illness or injury, for example a heart attack or cancer, where treatment can be lengthy and expensive. It helps cover the costs of getting well, such as medical treatments, surgery and rehabilitation therapies.
Did you know that approximately 65% of the industry's Critical Illness claims are for cancer? Did you know...
- Melanoma is the fourth most common cancer reported in Australia, accounting for 9.8% of all new cancers in 2008.
- In 2008, there were 14,225 new cases of bowel cancer in Australia, accounting for 12.7% of all new cancers.
- Overall, gynaecological cancers accounted for 9.4% of all new cancers in women in Australia in 2008.
- Breast cancer is the most common cancer in Australian women (excluding non-melanoma skin cancer), accounting for 28.2% of all new cancers in women in 2008.
- In 2020, it is estimated that there will be 1,640, 2,830 and 915 new cases of ovarian, uterine and cervical cancers respectively...
