LIFESTYLE NEWS - We love our South African summers the braais, the beach, the sunshine. But with all that joy comes a reality we can’t afford to ignore skin cancer is common, serious, and often preventable.

South Africa has some of the highest melanoma rates globally, and while melanoma is dangerous, it’s also the one cancer you can see developing. That makes regular skin checks one of the simplest ways to protect yourself.

A little sun is great. Too much isn’t. So, as the holiday season heats up, remember sunscreen is just the start. Keeping an eye on your skin could save your life.

Momentum Life Insurance’s latest claims data highlights this clearly 21% of cancer-related critical illness claims were for skin cancer, making it the second most frequent claim after breast cancer.

The risk you can see and the one you can’t

Skin cancer is visible, often treatable when caught early, and a reminder of how closely health and vigilance go hand in hand. But there’s a broader reality behind it: cancer in its many forms remains one of the leading causes of severe illness in South Africa.

And while you can see changes on your skin, you can’t always see the financial shock that a serious diagnosis can bring.

That’s why protecting your health is only half the story; protecting your financial resilience is the other half.

Why financial protection matters as much as health protection

A 2024 Bureau of Market Research report , commissioned by the Momentum Group, found that only 7% of South African households have critical illness insurance. But the picture becomes even more concerning when you look specifically at income earners.

According to the 2024 ASISA Insurance Gap Study, South African income earners face an 85% critical illness insurance gap, meaning that only about 25% of working adults have any form of critical illness cover. The majority would not be able to absorb the financial impact of a serious illness.

This is significant, because Momentum Life Insurance’s 2024 claims data shows that cancer accounted for approximately 45% of all critical illness payouts in 2024 – proof that serious health events are both common and financially disruptive.

“Critical illness is not a distant risk – it’s a financial reality many families face,” says George Kolbe, Head of Marketing and Enablement at Momentum Life Insurance. “Our data shows that more people are surviving serious illnesses, but recovery often comes with significant financial strain. Critical illness cover ensures that medical recovery is matched by financial stability.”

Three ways to strengthen your financial resilience this summer

1. Treat financial cover as your second line of defence
Just as sunscreen protects your skin, critical illness cover safeguards your financial well-being. It provides a lump sum payout that can be used for anything from specialised treatment to childcare, transport or household expenses or expenses that medical aid may not cover.

2. Prepare for the hidden costs of recovery
Even after successful treatment, recovery can bring what experts call "financial toxicity” – the strain of lost income, co-payments, and the ongoing costs of lifestyle adjustments. Having access to funds when you need them most allows you to focus on healing, not on bills.

3. Review your family’s protection plan
Some critical illness policies include cover for your children, sometimes at little or no additional cost. Critical illness cover for the family ensures everyone is protected, because while risk increases with age, younger people are not immune.

Early detection saves lives. Early financial planning safeguards them

Certain early-stage diagnoses may qualify for a payout under critical illness cover – subject to the insurer’s definitions and severity criteria – offering immediate financial relief after the diagnosis of a qualifying claim event. 

Being proactive about your cover, before illness strikes, is as vital as scheduling regular skin checks or health screenings.

As we embrace the summer months, take a moment to review not just your sunscreen supply, but your financial protection. Speak to your financial adviser about adding comprehensive critical illness cover to your financial portfolio or double check if your critical illness cover is adequate for your family’s needs.

Because while sun protection guards your health, financial protection secures your future.

Article: George Kolbe, Head of Marketing and Enablement at Momentum Life Insurance

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