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Cancer, pneumonia and heart disease are the top three serious illnesses in Hong Kong1, cancer being the most deadly. One in every four men and one in every five women will develop cancer before the age of 752. Over the past decade, about 40% of cancer cases occur by the age of 603.
Advances in medicine nowadays mean that most diseases can be cured as long as patients receive prompt treatment following diagnosis. According to recent data, the five-year survival rate for cancer patients has reached 69%4. However, the cost of the latest treatment and medicine means not everyone can afford it. For instance, the 3-year treatment cost for lung cancer is about HK$1 million5. Combined with the expense of recovery, it often takes a heavy toll on the patient’s finances. Luckily, some current medical insurance plans in Hong Kong offer critical illness protection to lessen their burdens.
NUMBERS OF NEW CANCER CASES BETWEEN 2007 AND 20166
It is estimated that the 3-year treatment cost for colorectal cancer is about HK$1.27 million5
It is estimated that the 3-year treatment cost for breast cancer is about HK$1.17 million5
Besides affecting the lives of you and your beloved, it also brings difficulties to the family finances.
Taking regular exercise, a balanced diet and sufficient sleep all add up to good health
Have regular health checks to identify potential problems and seek medical advice promptly
A comprehensive protection plan offers you strong financial support so that you can have proper treatment as soon as possible following diagnosis of a critical illness
The fight against critical illnesses is often a long one, so it’s better to include extra recovery services in the protection plan
The above information is for general reference only. It shall not constitute nor should it be taken as a substitute for professional advice from a financial planner on purchasing insurance policies. Your financial planner will make recommendations based on the result of your individual needs analysis (including affordability and suitability, etc.). For detailed analysis and advice, please contact us or your financial planner.
Sources
1 Department of Health, Government of the HKSAR, Health facts of Hong Kong: 2018 Edition.
2 Statistics for the year 2016, the Hong Kong Cancer Registry, Hospital Authority website.
3 2007-2016 statistics of average prevalence rate of cancers of different parts of the body, the Hong Kong Cancer Registry, Hospital Authority website.
4 American Cancer Society, Cancer Facts and Figures 2018, 2007-2013 statistics, 5-year relative survival rates for cancer at diagnosis.
5 Hong Kong Sanatorium and Hospital fee schedules, Union Hospital fee schedules, Hong Kong Cancer Fund and media reports. The cost of treatment is calculated based on the normal prevalence. Cancer is assumed to be treated by surgery, chemotherapy and targeted therapies.
6 2007 – 2016 statistics, the Hong Kong Cancer Registry, Hospital Authority website.
The information was extracted from AIA’s Research of Critical Illness Trends and Medical Expenses by GfK Hong Kong, an independent market research company (data collected in March 2019). The above information above was gathered from external sources on a general basis and is for reference only. Please refer to the related data and information collection statement for details.
Data and Information Collection Statement
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