Two-thirds of Canadian women are worried about the potential financial implications of cancer diagnoses, says BMO Insurance.
Its study finds 68% of women have been impacted by cancer, whether through a family member or personal diagnosis. And 78% are concerned about the possibility of being diagnosed.
Advances in medicine have meant that an increasing number of Canadians are beating the disease, but the costs associated with treatment have also risen, says Julie Barker-Merz, vice-president and COO of BMO Insurance. “When you’re fighting cancer, the last thing you need is to be dealing with stress about money-related issues.”
According to the Canadian Cancer Society, the annual household loss from cancer was nearly $18,000. Additionally, one-in-six Ontario cancer patients reported that out-of-pocket costs were significant or unmanageable.
A version of this story originally appeared on our sister publication, Advisor.ca.