1 in 16 men & women between the ages of 50 – 59 will be diagnosed with cancer.*
“According to 2020 data from the American Cancer Society over 1.8 million Americans will be diagnosed with cancer in 2020,” reports Jesse Slome, director of the critical illness insurance organization.Jesse Slome, director of the American Association of Critical Illness Insurance
Cancer Risk Information: “The actual probability of developing cancer between ages 50 and 59 is 6.2 percent for men and slightly higher (6.4%) for women,” Slome shares. “That means one in 16 Americans who are between 50 and 59 will hear the dreaded words, ‘you have cancer’.”
The good news, according to Slome, is that cancer is no longer a death sentence for many of these individuals. “The chances of surviving a cancer diagnosis increases continually, but the same can’t be said for the finances of those individuals and their families,” the critical illness expert noted. “A cancer diagnosis can wind up pushing the family into bankruptcy even though they have health insurance.”
Slome notes that the five-year survival rate for all cancers diagnosed during 2009 through 2015 was 67 percent overall.
“What surprises many people is that even individuals who have health insurance find it’s just not enough to cover all the medical and other costs associated with a cancer diagnosis,“ Slome adds. “Not all medical costs are covered, people have to take time off from work to undergo treatment and yet during this time bills have to be paid. You even have to continue to pay your health insurance premium while undergoing treatment.”
Cancer Risk Is Real: Check Out Affordability of Cancer Insurance
Slome shared that critical illness insurance polices available today can play a vital role in helping the millions who are financially impacted by a cancer diagnosis. To learn more about critical illness insurance and costs for coverage, visit the American Association for Critical Illness Insurance where a critical illness insurance cost calculator will help you quickly get insight into the affordability of coverage.
* American Cancer Society, Jan 2020.