Cancer continues to be one of the leading health challenges in Australia. With one in two Australians diagnosed with cancer by the age of 85, it’s a reality that touches nearly every family. As medical detection improves and our population ages, the number of cancer diagnoses is steadily increasing — a trend with significant emotional and financial implications.
Key Statistics by Age Group
According to the Australian Institute of Health and Welfare (AIHW) over 164,000 Australians are estimated to be diagnosed with cancer in 2025. In 2021, 145,000 were dialogised with statistics on the rise.
Most common age group & types of diagnosis:
- Ages 60–69: Highest number of diagnoses
- Ages 40–59: Increasing rates, particularly for breast, prostate, and melanoma
- Under 40s: Still lower rates overall, but rising for cancers such as thyroid and Rising Trends
- Younger women (30s–40s) are experiencing a notable rise in breast cancer diagnoses.
- Thyroid cancer, particularly in younger adults, has doubled over the past decade.
- Melanoma is one of the most common cancers among Australians aged 15–39.
Why it is Critical for Families to have Trauma Insurance
While private health insurance and Medicare cover many medical expenses, trauma insurance offers a lump-sum payment upon diagnosis of a serious illness like cancer — giving families the freedom to focus on recovery, not finances.
Advantages & Benefits for families with trauma insurance
- Immediate financial support for treatment not covered by health insurance (e.g., alternative therapies, specialist consultations).
- Covers living expenses if you or your partner need to take time off work.
- Funds for travel and accommodation if treatment is needed to travel interstate.
- Helps with mortgage repayments, school fees, or in-home care — during a tough time it allows families to maintain their lifestyle.
Disadvantages & Risks for families not having trauma insurance
- Financial Strain on the Family – you may need to dip into superannuation and savings, take out a loan or rely on family or government assistance. This can impact your long-term plans for home ownership, education goals or retirement.
- Limited Treatment Options – Insufficient funds may require using public hospital waitlists or skipping effective but expensive therapies.
- Loss of Income – If you’re self-employed or your sick leave entitlements run out, the household income may take a significant hit — sometimes for months or even years.
- Partner’s Career Disruption – A partner will need to reduce hours or leave their job to become a full-time carer, compounding the financial impact.
Cancer affects individuals and it affects families emotionally, physically, and financially. With cancer diagnoses on the rise, especially among working-age Australians, trauma insurance isn’t just a safety net — it’s a lifeline. The peace of mind trauma insurance brings is something no family should be without in today’s world.
Should you require further information in relation to trauma insurance, please feel free to contact Peter Quinn by submitting an enquiry or calling us on +61 2 9580 9166 to book an obligation-free appointment.
The information in this document does not consider your personal objectives, financial situation, or needs, so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.