Dread disease: The next big killer

Cyber security – Time to batten down the hatches
July 17, 2018
National Wills Week
August 31, 2018

There is a marked increase in cancer, heart conditions and dementia. People are suffering these conditions more frequently and at a younger age.

The Heart and Stroke Foundation South Africa says that one in four women will have some form of a heart condition before the age of 60 and, that once they reach menopause, the risk of heart disease increases threefold. This is in line with our statistics, which indicate that, over the past three years, the death rate linked to cardiovascular diseases, for women, increased by 50%.

For the fourth consecutive year, Momentum has also seen an increase in the number of claims for early stages of critical illnesses.

A worrying trend showing up in the Momentum statistics is the increase in dementia claims. The figures indicate that the prevalence of Alzheimer’s disease and other forms of dementia is low at younger ages but nearly doubles with every five years after the age of 65.

Karin Muller, the chief executive of Sanlam Individual Life, said “Cancer, as a reason for severe illness claims, is constantly rising. In 2010, it made up 36% of severe illness claims admitted; in 2017, it was the cause behind 59% of these claims. The same can be said of diseases affecting the bones, back, joints and connective tissue. In 2014 – these made up 11% as the cause of disability claims, whereas last year it was the cause of 22% of claims.

The chance of suffering from a dread disease before the age of 60 is 5 times greater than the chance of dying before the age of 60, yet most people do not have nearly enough dread disease cover. In addition, the dread disease products can be difficult to understand and older products could be inadequate and may need to be updated.

FPM can help you. We can determine the amount of cover you need and which is the best product to suit you. For more information please contact Mike Tongs (michael@fpm.co.za) or Greg Visser (greg@fpm.co.za) on 011 778 9300.

This article is a general information sheet and should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted. (E&OE)