Breast cancer awareness: new stats and what you need to know in 2024
It's Breast Cancer Awareness Month, and this October, we’re diving into the latest numbers and what they mean for all of us. Breast cancer continues to affect thousands of Australians every year, but there’s some good news in the mix. While breast cancer costs can add up, early detection is still the best shot we’ve got for increasing survival rates.
Let’s take a look at the breast cancer survival rates, the costs involved, and what you can do to reduce your risks.
Source: Zurich Insurance Group - The Cost of Care, Volume 2
What is breast cancer?
Breast cancer happens when the cells in your breast decide to grow uncontrollably and forming a lump or tumour. While it can affect both men and women, it’s far more common in women. There are different types of breast cancer, but the two main ones are invasive ductal carcinoma and invasive lobular carcinoma.
How cancer starts
How cancer spreads
Breast cancer survival rates have improved significantly over the years. In 2023, the 5-year survival rate is 92.0% for females and 87.0% for males. Early detection through regular checks and screenings has played a massive role in that.
The rising costs of breast cancer treatment
Let’s talk money. The median out-of-pocket cost for breast cancer treatment is around $5,500, but this can go up significantly depending on the treatment you need. In fact, 80% of breast cancer patients who undergo breast reconstruction surgery experience out-of-pocket costs that can range from hundreds to over $18,000. And it doesn’t stop there—targeted therapies, which are sometimes necessary, can cost anywhere from $30 to $18,000.
The average lifetime cost of breast cancer for an individual is about $41,260, so it’s important to know what to expect financially if you or someone you know is diagnosed.
Breast cancer risks and what to look out for
So, what puts you at higher risk of breast cancer? Some factors are out of our control, like family history and genetics. In fact, up to 10% of breast cancer cases are caused by inherited gene abnormalities like BRCA1 and BRCA2.
Other risk factors include:
Being overweight
Lifestyle habits like alcohol consumption
Radiation exposure before age 30
For more info about risks and symptoms, read the Cancer Council's Understanding Breast Cancer
Warning signs to be aware of
While regular self-checks and mammograms are key to catching breast cancer early, it’s also important to know the warning signs:
a new lump in your breast or underarm
swelling, thickening, or irritation of the breast
redness or flaky skin around the nipple
pain in any part of your breast
nipple discharge (other than breast milk)
If anything feels off, don’t wait—book an appointment with your GP.
Why early detection matters
For women aged 50 to 74, the Australian government offers free mammograms every two years through BreastScreen Australia. But whether you’re younger or older, it’s important to stay on top of regular breast checks, especially if you’re in a higher-risk category. Early detection means a better chance at beating breast cancer, and it could make a big difference in your treatment options and breast cancer costs down the line.
What can you do to lower your risk?
Okay, so while you can’t control things like your genes, there are some steps you can take to lower your risk of breast cancer:
Stay active: Maintaining a healthy weight can lower your risk.
Eat well: Skip the processed junk and stick to nutritious, whole foods.
Cut down on alcohol: Even a few drinks a week can increase your chances of developing breast cancer, so it’s worth cutting back.
Breast cancer and insurance claims
When it comes to breast cancer, insurance claims play a huge role in providing financial support. Data from TAL reveals that 17% of all claims they accepted were for cancer, including breast and pancreatic cancers. These claims break down into different life insurance categories:
47% of claims were made through Life Insurance, providing financial support to families after the loss of a loved one.
6% of claims fell under TPD Insurance, offering financial protection in cases where breast cancer left someone permanently unable to work.
8% were Trauma or Critical Illness claims, which pay out a lump sum to help cover medical and personal expenses during treatment.
Lastly, 39% of claims were for Income Protection, helping those affected by cancer maintain financial stability while focusing on their recovery.
Breast cancer is no joke, but knowing your risks, staying proactive, and understanding the breast cancer costs involved can make all the difference. Talk to your GP, get screened, and if you want to learn more about how life insurance can protect you and your family, have a chat with your financial adviser.