By Marie van Schalkwyk,
This Breast Cancer Awareness Month, knowing your risk, being alert to changes and getting screened can all play a role in early detection.
But looking after yourself also means considering what a serious diagnosis could mean for your income, household expenses and financial plans.
Understanding your risk
Apart from non-melanoma skin cancer, breast cancer is the most common cancer in women in South Africa, with a lifetime risk of 1 in 27, according to the 2023 National Cancer Registry. While risk increases with age, younger women can also be diagnosed. Men can develop breast cancer too, although it is rare.
Family history matters, but having no known family history does not mean you are not at risk. According to Dr Jacqueline Kieck, a radiologist and breast imaging specialist quoted by Mediclinic Southern Africa, 70% of women diagnosed with breast cancer have no family history of the disease.
Healthy lifestyle choices may help lower risk, while regular screening can help identify cancer before symptoms appear. CANSA recommends annual mammograms from age 40. From age 55, women can move to mammograms every two years or choose to continue with annual screening. Speak to your doctor about the screening schedule that is right for you.
While healthy habits and screening are important, they cannot eliminate the risk of breast cancer – which is why financial preparedness matters too.
The financial impact of a diagnosis
A serious diagnosis can affect a household in several ways. Treatment and recovery may mean time away from work, reduced earnings or an interruption to running a business. Meanwhile, everyday expenses such as bond repayments, school fees and groceries continue, often alongside additional healthcare and recovery costs.
Momentum Life Insurance’s 2025 claims data highlight the financial implications of serious illness. Critical illness payouts grew by more than 15% year-on-year, passing R1 billion for the first time. Cancer accounted for 43% of critical illness claims and was also the leading cause of lump sum disability claims, at 27%.
Breast cancer was the leading cause of female critical illness claims at Momentum Life Insurance in 2025. Breast cancer accounted for 45% of female cancer claims, while 68% of breast cancer claims were detected early, at Stage 1. This is significant because earlier detection can improve outcomes and may mean less aggressive treatment. The youngest breast cancer claimant was just 30 years old.
“A serious diagnosis can affect much more than your health. Understanding what financial protection you have in place, and where there may be gaps, can make a meaningful difference when circumstances change,” says Joretha Bothma, Executive Head of Myriad at Momentum Life Insurance.
Understanding your financial protection
Financial preparedness isn’t about one product. Medical aid helps with medical costs, life cover protects your dependants if you die, and income protection can replace part of your income if illness, injury or disability prevents you from working.
Critical illness cover typically provides a lump sum payment when you are diagnosed with a qualifying condition and meet the relevant claim criteria. This could help settle debt, support the household budget or cover care and treatment costs not covered elsewhere.
A financial adviser can help you understand what protection may be appropriate for your circumstances.
Practical steps
Practical steps to consider include:
- Know your family cancer history, understand your personal risk and speak to your doctor about screening.
- Check your breasts regularly and seek medical advice promptly if you notice changes.
- Understand what your medical aid and gap cover will cover and review your critical illness protection with a financial adviser to identify any potential financial protection gaps.
- Assess how long your household could manage if your income dropped or stopped, and build an emergency fund where possible.
Breast cancer awareness is about acting, not expecting the worst. Looking after your health and preparing financially can help you navigate the unexpected with greater confidence and ensure support for yourself and the people who depend on you.
Marie van Schalkwyk, Marketing Manager at Momentum Life Insurance
