The financial reality of cancer: are South Africans prepared?

The World Health Organization estimates that 1 in 5 people will develop cancer in their lifetime, while Discovery Health has seen a 181% increase in members claiming for cancer care over the past decade. Cancer remains one of the leading drivers of claims for Discovery Life, accounting for 45% of severe illness benefit claims and 37% of disability benefit claims in 2025.

This highlights how common cancer has become, and the the growing strain it places on household finances - often in ways that people don't fully anticipate.

Dr Deidre Kotze, Chief Medical Officer at Discovery Life, explains that while the direct cost of cancer treatment can range from R10 000 to R1 million per patient, the financial impact extends far beyond medical care.

“Treatment can last months or years, often requiring time off work to manage side effects from chemotherapy or recover from surgery, with a significant impact on household finances. Alongside medical expenses, out‑of‑pocket costs can quickly add up,” she says.

“For example, 46% of cancer patients travel outside their city for treatment, spending around R60 000 over six months on travel and lodging. Thirty‑eight percent of patients need paid caregiving, costing around R60 000 over a six‑month period, while 22% need home modifications, such as ramps or bathroom adjustments, adding around R50 000, also over a six‑month period.

“These additional costs can place quite a significant strain on household finances,” adds Dr Kotze.

How do you build a financial net for cancer?

A holistic financial plan to protect against the financial risk of cancer should start with medical aid, supported by gap cover and life insurance benefits, such as severe illness, disability and income protection.

“Medical aid provides comprehensive cancer benefits, supported by defined oncology limits, which allow members to access high-quality care from diagnosis through treatment. Limits vary by plan and may include co-payments, so it’s important for members to understand exactly what their plan covers,” says Dr Kotze.

Gap cover, on the other hand, complements medical aid by paying for costs that fall outside of covered benefits. “Depending on the option selected, gap cover will cover tariff shortfalls on certain specialist accounts, cancer-related expenses, selected out-of-hospital costs, private ward cover, international claims, and scopes and scans,” explains Dr Kotze.

Life insurance plays a crucial role through “living benefits”, which provide payouts at diagnosis to help manage both medical and non‑medical costs. For example, more than half of Discovery Life claims (52%) are now paid to clients while they are still alive, supporting them through severe illness, disability and income disruptions while undergoing treatment.

A holistic approach to life cover should include:

• Severe illness cover, which pays you a lump sum to help fund lifestyle changes, home modifications, or caregiving during treatment and recovery.
• Disability cover, which provides a lump-sum payout if you become disabled, helping to cover long-term care needs, specialised medical equipment or home adjustments.
• Income protection helps maintain your monthly cash flow if you are unable to work due to illness.
• Life cover provides financial security for your loved ones in the event of death.

If you’re employed, it’s also important to understand any employee benefits, such as employee group risk cover, which can provide additional financial support.

“Together, these layers of cover help build financial resilience during a cancer journey, allowing you to focus on recovery and returning to everyday life, rather than worrying about the cost of care,” says Dr Kotze.

Combine early detection with financial preparedness

Dr Kotze emphasises the value of proactive planning, both medically and financially. “When people prioritise regular screening and ensure they’re financially protected, they give themselves the freedom to focus on getting well, without worrying that unexpected costs will derail their recovery journey.”

Speaking to a financial adviser can help ensure that your cover is tailored to your needs and provides the protection you and your loved ones deserve.