October is Breast Cancer awareness month - for every new policy issued or referral made to TGN in September and October TGN will donate $250 to the Breast Cancer Foundation
In order to make an effort to try and raise some badly needed funds for the Breast Cancer Foundation particularly post lockdown, TGN will donate $250 for each policy issued or successful referral made during the months of September and October 2021. To make a referral please just give George a call on 029 43 67 432 and we can talk through how we can make it as easy as possible for you to make an effective referral. Please take the time to do this… thank you in advance.
The risk of being diagnosed with breast cancer increases with age.
Breast cancer isn’t common in women under the age of 50.
About 70% of women who are diagnosed with breast cancer and about 80% of women who pass from it are 50 years or older.
Some women are at greater risk of breast cancer because there is a history of close family members having the disease. However, most women who develop breast cancer have no relatives with the disease. Even among women who do have relatives with breast cancer, most will never develop it.
To insure against the financial impact of breast cancer, the most useful types of insurance are medical for treatment and Trauma to provide financial support for living costs and extra treatments. From an insurance perspective having cover beyond the age of 70 is going to be expensive, in the ideal world the aim is to be able to self insure from this age onwards or if affordable have medical cover with an increasing excess to keep the premium affordable. For instance, a couple of companies offer $10,000 excesses.
Bearing in mind the objective of being able to self insure post age 70, the greatest risk to most people is from 50-70 years old during which time the majority of retirement savings are being accumulated but also risks from illness or injury increase. It is during this time of life that being stepped out has the most serious and long term consequences. The strategy we use during this time to mitigate risk is using insurances that cover trauma or critical illness. Typically they pay out a lump sum.
Trauma or critical illness insurance was first developed in the early 1980s by Marius Barnard, brother of the acclaimed cardiac surgeon, Dr Christiaan Barnard who carried out the first heart transplant in South Africa in 1967. ( Marius Barnard (surgeon) - Wikipedia )
Christiaan's job was to make sure that people survived heart disease; Marius' job was to make sure they could afford to survive. This resulted in the creation of a policy that paid a lump sum if the life insured contracted any one of a number of defined 'critical' conditions. It was originally sold only on ‘level premium’ terms as Marius realised that it was the two decades before retirement that were a particular risk for the majority of people.
Today, insurance companies offer a range of trauma insurance policies covering a wide range of specified medical conditions including cancer specific covers. It's important to choose the cover that best suits your needs. Frequently people get different trauma insurance quotes and get too confused by the different policies and find it difficult to make a comparison.
There are a range of things to consider with trauma insurance:
The amount of cover you or your spouse may need
Who should own the cover?
The policy conditions - what conditions are covered and what are excluded?
The track record of the insurance company - do they pay genuine claims?
What underwriting requirements are necessary to get the policy in force?
Trauma or Critical illness insurance is an important part of any financial plan, providing money when you need it most. We suggest you seek professional advice to make sure you get a policy that meets your needs.
Related websites
Time to Screen
The website of BreastScreen Aotearoa, New Zealand’s free national breast screening programme for women aged between 45 and 69. Find out about breast cancer, and how to sign up for a free mammogram.
Breast Cancer Aotearoa Coalition
A charity providing information, support and representation for those with breast cancer. This website covers breast cancer detection, treatment and care and includes links to others experiencing breast cancer.
Best Doctors and Mental Health Navigator
If you have an Asteron Life Disability policy or an Accuro medical policy you have automatic access to Best Doctors - The world's leading medical specialists are waiting to help you, they use cutting-edge technology, rigorous processes and the best medical minds to connect people facing a health problem with experts considered top in their field.
Breast Cancer Foundation
The country’s leading breast cancer education and awareness organisation. Has information on screening and early detection, diagnosis, and treatment.
Cancer Society
The Cancer Society of New Zealand is the country’s largest source of information about cancer and its effects. This website provides information on types of cancer, diagnosis, methods of treatment and advice on living with cancer.
Health Navigator
The Health Navigator NZ website helps you find reliable and trustworthy health information and self-help resources on breast cancer.
Better Health Channel
The Better Health Channel is a Victorian (Australia) State Government website. It provides a wide range of health and medical information on conditions including cancer.
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