Men under the age of 40 are at risk of developing male-specific cancers, more so in recent years. According to life insurer Momentum’s latest claim statistics, cancer remains the leading cause of critical illness claims among men, accounting for 37% in 2023.
The findings by the insurer revealed that of these, male cancers like prostate and testicular cancer represented 33% of the claims.
For men aged 60 years and over, these cancers represented almost half of the cancer claims, at 43%.
According to George Kolbe, head of life insurance marketing at Momentum, the situation requires men to consider financial protection and critical conversation this “Movember,” focusing on men’s health to fight among male-specific cancers.
He revealed that in 2023, cancer accounted for 37% of critical illness claims among men and that claims for men under the age of 40 jumped from 7% to 22% in just one year.
“Lifestyle has an impact, as 81% of claims were from those classified as overweight. Movember is the perfect opportunity to address both health and financial protection in one go. After all, what is the point of growing a moustache if you are not going to take steps to protect yourself and your loved ones against life’s uncertainties?”
Kolbe said the challenge with men in their 30s and 40s is that they often assume they have got plenty of time to think about life insurance.
“But the sharp increase in male cancer claims among younger men proves that health issues can arise at any time. It is well known that lifestyle plays a significant role in men’s health, and one factor that continues to emerge in critical illness claims is weight. In 2023, Momentum found that 81% of claims for male cancers were from individuals whose body mass index (BMI) classified them as overweight. Of those, 61% were considered obese,” said Kolbe.
In the spirit of promoting Movember, he has encouraged men to start those difficult conversations about men’s health and financial security to safeguard their future.
