Just last month, the Canadian Cancer Society released a reported that predicted the number of new cancer diagnoses in Canada to rise by 40% by 2030. Much of this projection is due to the aging population – most cancers are diagnosed in people 50-79 years of age. Canadians are living longer and as a result, more people will be diagnosed with cancer. It is important to be aware that this will put immense pressure on the health care system and families to pay for treatment. The good news is that despite the rise in diagnoses, there will not necessarily be an increased risk of fatalities. As cancer is detected earlier due to screening programs, people are able to get treatment early.

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In Ontario, patients have access to the New Drug Funding Program (NDFP), which covers the cost of many newer, and often very expensive, injectable cancer drugs administered in hospitals and cancer centers. However, this does not cover all other treatment and medication related to cancer. Some cancer treatments are only covered during the first line of chemotherapy, and not for the second round of chemotherapy. Other drugs are only covered in combination with other drugs, and not alone. Sometimes despite the hefty cost associated, the cost is often downloaded to patients.

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With this knowledge, it becomes even more pivotal to have private health and critical illness insurances to help mediate the potential costs. Health insurance can help in aiding the treatment side of your recovery while critical illness insurance will help provide you the time you need to take off your commitments to recover. When you’re facing a serious health issue, recovery should be your first priority.