Insurance shows up in real-life odds of thriving after a cancer diagnosis

Discovery Life recently released their 2025 claim statistics. They make for sobering reading.

The largest proportion of the claims (65 percent) were for living benefit claims (severe Illness, income protection and disability) rather than death claims. It reflects an uncomfortable truth: we are living longer, but we are also getting sicker.

The Cancer Association of South Africa (CANSA) estimates that one in four South Africans is affected by cancer in their lifetime, either because they, their family, friends or colleagues are diagnosed with it.

The Discovery Life stats show that in 2025, cancer accounted for:

• 45 percent of the life insurer’s severe Illness claims
• 37 percent of its capital (lump sum) disability claims
• 28 percent of life cover claims (second only to heart conditions)
• 11 percent of income continuation (income protection) benefit claims.

Cancer can ruin your stability

Cancer can be ruinous to a family’s stability and wellbeing. Some years ago, a potential client was referred to me. He was over 65 when I met him. A few years before, while in his fifties with a successful career, a sudden cancer diagnosis forced him to stop working to focus on his treatment and recovery.

The man had built reasonable wealth and savings up until that point but did not have any life or disability insurance. This meant that he had to dig aggressively into his nest egg to fund his treatment and recovery.

After several months and millions of rand in treatment, he went into full remission and was able to return to work. He was unfortunately unable to recoup the damage to his savings and investments.

He reached retirement age and was forced to retire, even though he did not have enough for the life he wanted to live.

Cancer can happen to anyone

Cancer doesn’t discriminate. It is not just for old people or unhealthy people. Another client of mine was in her late 20’s when she received her cancer diagnosis. It came as a shock. She was very health focussed: scoring very highly on her annual health checks, watching what she ate and drank, exercising regularly and getting plenty of sleep.

Thankfully she was comprehensively insured. She belonged to a medical scheme, had gap cover and severe Illness cover, which all kicked in.

As a young advisor at the time, I was surprised that the medical scheme and gap cover didn’t cover all her treatment needs, even though she was on very good options.

After traditional treatments failed, she tried alternative treatments that were not covered by her medical scheme and those eventually made the difference for her.

The lump sum benefit she received from her severe illness policy funded several months of treatment at thousands of rands per treatment. She was also able to take on a reduced role at work while fighting the cancer, without negatively affecting her family’s financial situation. She has since made a full recovery and her family’s financial future is still looking bright.

Protect your dignity

Besides preventing financial ruin, insurance benefits can also provide dignity. My mother-in-law was diagnosed with aggressive breast cancer. She had to have a double mastectomy, chemotherapy and radiation. This was all covered by her medical scheme, but breast reconstruction was not. Thankfully her severe Illness policy paid out a benefit and she was able to have the breast reconstruction.

Insurer’s claim statistics and these real-life stories highlight how important it is to have insurance (medical scheme membership, gap cover, income protection, disability and severe illness).

Cancer and other serious ailments don’t discriminate. You need to do whatever you can to ensure that you and your family are protected come whatever may.