The average lifetime cost of care for the top Five Major Health Conditions
As medical advances continue to make amazing advances that extend life, it's good news, — it's also expensive news.
The good news is more Australians are living longer healthier lives. Our ability to recover from major illnesses is improving and our lifespans in retirement are becoming longer - presenting a new problem — the risk of outliving our superannuation and funding the lifetime cost of care for major medical conditions we all will face.
Below is the typical cost of the top 5 Major Health Conditions in Australia.
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What's the cost to care for other major illnesses?
Want to know the Average Costs for Medical care for 30+ common medical conditions in Australia?
We have identified both the average medical and additional out-of-pocket costs for the most commonly faced illnesses in Australia, from Cancers, Dementia, to Mental Health.
This helps our clients in three ways:
- Understand their potential financial losses experiencing a major illness
- Understand what major illness can cost families through common out-of-pocket expenses
- Choose what financial risk they are comfortable absorbing, and what level of financial risk they need to outsource to a life insurance company.
Click here to explore the Cost to Care list of 30 Major Health Conditions
Call us today on 1300 137 403 or email us here for a no-obligation private chat about your situation.
Drew Browne is a specialty Financial Risk Advisor working with Small Business Owners & their Families, Dual Income Professional Couples, and diverse families. He's an award-winning writer, speaker, financial adviser and business strategy mentor. His business Sapience Financial Group is committed to using business solutions for good in the community. In 2015 he was certified as a B Corp., and in 2017 was recognised in the inaugural Australian National Businesses of Tomorrow Awards. Today he advises Small Business Owners and their families, on how to protect themselves, from their businesses. He writes for successful Small Business Owners and Industry publications. You can read his Modern Small Business Leadership Blog here. You can connect with him on LinkedIn. Any information provided is general advice only and we have not considered your personal circumstances. Before making any decision on the basis of this advice you should consider if the advice is appropriate for you based on your particular circumstance.
