Do your clients think they’re too young to worry about cancer? Cancer is on the rise among young adults. It’s an alarming trend, and it makes the need for disability insurance greater than ever.
Cancer in Young Adults
The American Cancer Society estimates that 2,041,910 people in the U.S. will receive new cancer diagnoses in 2025.
Cancer is common, but many adults in their 20s, 30s and 40s may assume they are too young to need to worry about it. Indeed, according to the National Cancer Institute, the odds of cancer increases with age, and the median age of a person is receiving a cancer diagnosis is 66.
However, young adults are not immune to cancer. Although your risk may be lower in your 20s, 30s, and 40s, there is still a risk – and that risk appears to be growing. A study from the American Cancer Society found that colorectal cancer rates are increasing in adults under the age of 50. The increase was observed in 14 countries, including the U.S.
Oncologists at the University of Chicago Medicine Comprehensive Cancer Center report seeing more patients in their 30s and 40s requiring treatment for colorectal, breast, head and neck cancers. It’s not clear what’s causing the increase. It could be caused by chronic inflammation due to stress, obesity, infections, toxins or low physical activity. Alternatively, it could be caused by changes in gut microbiomes due to processed foods and microplastics. Healthcare disparities and reproductive changes are also possible culprits. But regardless of the cause, result seems evident – more and more young adults are being diagnosed with cancer.
The Impact of Cancer
Cancer is not always a death sentence. The American Cancer Society says that 618,120 people in the U.S. will likely die of cancer in the U.S. in 2025, and while that’s a high number, it’s much lower than the more than 2 million new cancer diagnoses that will occur. The five-year survival rate for all cancers is 69%, meaning the majority of people survive for at least five years.
Many people beat cancer – but this doesn’t mean it’s easy. Cancer treatments like chemotherapy can be physically brutal. Working throughout treatment isn’t always an option. At the same time, cancer patients often face significant medical debt. The American Cancer Society says that 47% of cancer patients and survivors incur medical debt even though 98% had healthcare coverage at the time. Medical debt is even more likely among younger patients – 70% of cancer patients and survivors aged 35 to 44 incur medical debt.
The Role of Disability Insurance
When someone is diagnosed with cancer, they should be able to focus on their health and on their loved ones. Unfortunately, economic realities can make this difficult. Disability insurance provides financial relief.
Disability can strike anyone, regardless of age. The increase in early onset cancer diagnosis shows that it’s important to lock in coverage when you’re young.
How to Help Your Clients
If you have clients who think they’re too young to worry about cancer or disability, it’s time to have a frank conversation with them. Show them the research on the rise in cancer rates among young adults, and discuss how a cancer diagnosis would upend their lives. Then help them secure the insurance they need to protect their finances.
- Individual disability insurance can replace lost income when a person is unable to work due to illness or injury, and according to the Council for Disability Income Awareness, cancer is a common cause of disability claims.
- Riders can provide additional benefits. Young workers may be interested in the future purchase option rider, which allows the policyholder to increase their benefits in the future as their income increases and without the need for medical underwriting. Young workers who are paying off student loans may also want to consider the student loan rider, which helps with student loan payments during periods of disability.
- Critical illness insurance can provide an additional layer of protection. Critical illness insurance typically pays a lump sum benefit. Policyholders can use this payment however they choose, such as paying for out-of-pocket medical expenses or covering living expenses during the disability insurance elimination period.
The increase in cancer in young adults is scary. However, the reality is that young adults have always had a risk of disability. That’s why disability insurance is important for workers of all ages. Are you helping your clients secure paycheck protection? Use the DIS Quote Engine.