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Life-altering in more ways than one, a critical illness diagnosis not only shakes the individual directly affected but sends ripples of impact through the lives of those in close proximity.
In Canada, it is crucial to address the increasing prevalence of chronic diseases that have long-term impacts on one’s life. As we delve into this pervasive issue, it’s essential to acknowledge that the statistics speak louder than one might anticipate. The reality is that chronic diseases are on the ascent, and the likelihood of you or someone you know already grappling with one is statistically significant.
This post aims to shed light on the escalating prevalence of chronic diseases, emphasizing the need for proactive measures like lifestyle choices and critical illness insurance.
Critical Illness Statistics In Canada
In Canada, chronic diseases and conditions are the primary culprits behind both fatalities and impairments. Prominent among these are cancer, heart disease, chronic respiratory disease, and diabetes.
The substantial prevalence of chronic ailments is closely tied to detrimental habits, including unhealthy dietary choices, insufficient physical activity, and the consumption of alcohol and tobacco. These factors contribute significantly to the burden imposed by chronic diseases in the country.
Among the 25 illnesses covered by critical illness insurance, the majority of claims are due to life-threatening cancer, heart attack, and stroke. Let’s take a closer look at the statistics regarding these significant illnesses.
Cancer Statistics
1) 2 in 5 Canadians are expected to develop cancer
The most common types of cancer are breast, lung, prostate, and colorectal cancer.
Substantial strides have been made in diminishing both the occurrence and fatality rates of cancer. Our understanding of the causes, development, and optimal prevention and treatment approaches is more comprehensive than ever. However, despite these advancements, the incidence of new cancer cases continues to rise, primarily due to the expanding and aging population.
2) 75% are expected to survive a cancer diagnosis
While advancements in healthcare and treatment have increased survival rates for cancer, the lingering question remains: how will individuals navigate the financial repercussions of this life-altering disease?
3) Over 1.5 million Canadians are living with cancer
Notably, approximately 60% of these diagnoses occurred between 5 to 25 years ago, underscoring a substantial population living enduringly with or beyond the impact of cancer.
4) Cancer survival rates have improved since the early 1990s from 55% to 63%
The survival rate provides an estimate of the percentage of individuals alive at a particular point after receiving a cancer diagnosis, which is usually five years. In the 1940s, the survival rate was only around 25%.
5) Survival rates depend on the type of cancer and range from 9% to 97%
Impressively, thyroid and testicular cancers exhibited the highest five-year net survival rates, each standing at an encouraging 97%. Other cancers demonstrating relatively favourable survival outcomes include prostate (91%), breast (89%), and skin melanomas (89%).
However, the landscape shifts starkly for certain cancers, with mesothelioma registering the lowest five-year net survival at a mere 9%. Similarly challenging is pancreatic cancer, with a five-year net survival rate of just 10%.
Due to advancements in treatment, the survival rate for children post-diagnosis has surpassed 82%, ensuring that a significant majority will live at least five years after receiving their diagnosis.
Heart Disease Statistics
6) 1 in 12 Canadian adults live with heart disease
Coronary heart disease, also known as ischemic heart disease, refers to the buildup of plaque within the arteries of the heart. This could result in heart failure, heart attack, or even death. 1 in 12 Canadian adults aged 20 and over accounts for a staggering 2.6 million individuals.
7) Men are two times more likely to suffer a heart attack than women
In addition, men are diagnosed with heart disease at a younger age than women (55-64 vs 65-74 years old). However, while the incidence of heart disease is decreasing in men, there is a concerning upward trend among women. Globally, it has become the leading cause of death for women over the age of 35, surpassing the collective mortality of all types of cancers annually.
8) Earnings drop five to 20 percent following the onset of heart disease
People with lower income levels suffered the greatest loss of earnings due to hospitalization. The duration of the hospital stay was directly proportional to the amount of income and employment loss. Suffering from other chronic illnesses, such as chronic obstructive pulmonary disease and chronic kidney disease, also increased the amount of earnings lost.
9) 60,000 Canadians suffer a heart attack every year
Elevated cholesterol levels are a primary contributor to cardiovascular risk, potentially culminating in a heart attack or stroke. The underlying mechanism is the accumulation of plaque in the arteries, a process that results in hardening and constriction, ultimately impeding the smooth flow of blood.
Stroke Statistics
10) 9 in 10 Canadians have at least one risk factor for heart disease or stroke
Although some risk factors like age and family history are beyond our control, we can prevent nearly 80% of premature heart disease by improving our lifestyle factors such as diet, physical activity, and smoking habits.
11) Each year over 100,000 Canadians will have a stroke
The annual occurrence rate of stroke in Canada is 108,707, which is equivalent to approximately one stroke every five minutes. With the increasing number of stroke survivors, the number of Canadians living with stroke has risen to 878,000.
12) Half of all stroke survivors in Canada need help with daily activities
Stroke is a leading contributor to adult disability, with half of the individuals in Canada who have experienced a stroke requiring assistance in various daily activities. These include fundamental tasks such as eating, bathing, dressing, using the restroom, and mobility.
13) Strokes cost the Canadian economy $3.6 billion a year
This number represents the expenses incurred for physician services, hospitalization, lost wages, and reduced productivity. Critical illness insurance acts as a valuable safety net, offering financial protection against the income loss and reduced productivity that may accompany a stroke diagnosis.
Critical Illness Insurance Offers Financial Protection
In conclusion, delving into these statistics underscores the imperative need for proactive financial planning, particularly through the lens of critical illness insurance. The stark reality painted by the statistics on prevalent conditions like cancer, heart attacks, and strokes in Canada emphasizes the importance of being prepared for the unforeseen.
The numbers serve as a call to action, urging Canadians to consider the tangible impact of such illnesses on their health and financial well-being. As we navigate the complexities of these statistics, it becomes evident that critical illness insurance is not merely a precaution but a strategic measure to safeguard against the potential economic hardships associated with life-altering health challenges. In making informed decisions about insurance coverage, individuals can empower themselves to face the future with greater resilience and financial security.
Should you require assistance in identifying the optimal critical illness insurance policy tailored to your specific needs, we are at your service. You can contact us at info@briansoinsurance.com or 604-928-1628.
Our commitment to you extends to providing a complimentary, obligation-free consultation. During this session, we can delve into your unique requirements, address any inquiries you may have, and navigate the process of selecting a policy that aligns with your financial objectives and concerns. Your peace of mind is our foremost priority, and we stand prepared to aid you in securing the right protection for your future.
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