| Liberty’s recent claims statistics show that cancer remains the biggest driver of all insurance claims, saysLiberty’s Director for Risk Product Innovation, Nicholas van der Nest. The good news is that more people are surviving cancer and, if you change your lifestyle, you can greatly decrease your chances of a cancer diagnosis.
Last year Liberty paid out R3,57-billion in valid claims, of which nearly a quarter were a result of cancer. Cancer remained the top reason for claims by young parents, established providers and empty-nesters. For young achievers, retrenchment was the biggest cause for claims, followed by cancer.
Young achievers
While young achievers claimed mainly for loss of income protection due to retrenchment (15,9%), the Liberty claim statistics showed that more and more younger people are developing cancer. This made up 12,3% of all claims for young achievers, followed by motor vehicle accident claims at 11,9%, which was also the main claim cause for men.
Young parents
The top three claims for young parents were for cancer at 22,5%, largely driven by female breast cancer claims. Cardiovascular-related claims were at 14,5% – which is the biggest risk factor for males and, finally, strokes or central nervous system disorder claims were at 8%.
Established providers
For established providers, the trends showed cancer claims at 26,9% (prostate cancer for males, breast cancer for women), cardiovascular-related claims at 21,1% (again the biggest risk factor for males) and stroke or central nervous system disorder claims at 8,7%.
Empty-nesters
For empty-nesters, cancer claims were at 25,6% with prostate and breast cancer being the most common, while cardiovascular disorder claims were at 25,3% and respiratory diseases or disorder claims at 7,9%.
Prevention is better than cure
The increase in cancer statistics is not necessarily all bad news. With medical advancements, such as better screening programmes and more awareness around health and lifestyle, cancers are being diagnosed earlier and people are more likely to survive a diagnosis than before.
There is also a lot we can do to reduce our risk of cancer, such as simply adjusting our lifestyle. There are a number of risk factors that have been linked to the development of cancer – for example, an unhealthy lifestyle including tobacco and alcohol use, poor diet and physical inactivity. As people adopt more affluent lifestyles, they tend to embark on less healthy lifestyles such as smoking, drinking and a change in diet.
According to the Cancer Association of South Africa, unhealthy lifestyle factors contribute to the rising rate of cancer. The use of tobacco or tobacco products accounts for 20-25% of cancer cases; around 5% of cancer cases are related to excessive alcohol consumption; and 15% are a result of being overweight and not getting enough exercise.
Obesity in particular is a growing problem in South Africa with more than 29% of men and 56% of women being classified as being overweight or obese. Obesity in women is associated with cancers of the reproductive system as excess body fat results in an excess production of estrogen. These cancers include breast, cervix and uterus cancer.
In men, obesity is associated with cancer of the rectum, colon and prostate. Obesity in childhood also increases the risk of colon cancer in young adults.
Experts estimate that cancer risk can be reduced by 30% if these unhealthy lifestyle factors are excluded from our way of life. Your first protection against cancer is looking after your body, but you also need to ensure that you have financial protection against this disease.
Side Bar: Claim statistics
- More than R24 billion has been paid in claims by Liberty over the last decade, helping thousands of South Africans during difficult moments in their lives.
- The vast majority of payments with a total value of R2,48 billion were for claims on life protection while R678 million in critical illness protection claims were settled. At least R407 million was paid for income protection.
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