October is Breast Cancer Awareness Month—a time for pink ribbons, survivor stories, and renewed focus on early detection. But the financial side of cancer doesn’t always get enough attention.
In the U.S., a woman’s lifetime risk of developing invasive breast cancer is about 13%, or 1 in 8. American Cancer Society+1
In 2022, there were approximately 279,731 new breast cancer cases in women, and in 2023 around 42,213 women died from it. CDC
Breast cancer accounts for a huge share of national medical spending: in 2020 alone, breast cancer treatment costs were $29.8 billion, representing about 14% of all cancer care costs in the U.S. CDC
On a per-patient basis, the financial burden depends heavily on stage. Over 24 months post-diagnosis, average allowed medical costs ranged as follows:
‣ Stage 0: ~$71,909 PMC
‣ Stage I/II: ~$97,066 PMC
‣ Stage III: ~$159,442 PMC
‣ Stage IV: ~$182,655 PMC
Even patients with insurance face severe out-of-pocket burdens: in 2019, people with breast cancer paid more out-of-pocket than for any other cancer type—totaling $3.14 billion in that year alone. Breastcancer.org+1
Beyond direct costs, there’s lost income, caregiving, travel, lodging, and general living expenses—costs that don’t “pause” just because someone is in treatment. National Institutes of Health (NIH)+2ACS+2
Living benefits let policyholders access a portion of their life insurance death benefit while still living when diagnosed with qualifying conditions.
They typically include triggers for critical illness (cancer, etc.), chronic illness, and terminal illness (among others).
They give policyholders a choice over their money—you use it how you see fit (medical bills, mortgage, daily expenses).
With carriers like National Life Group, you can accelerate large sums—up to $1.5 million for terminal, chronic, Alzheimer’s, etc., and up to $1 million for critical illness or injury.
Benefits are generally income-tax free under current law (though it’s always wise for clients to consult their tax advisor).
Some policies offer partial acceleration, leaving some death benefit for beneficiaries; others require full acceleration.
Because there's no restriction on usage (except in limited cases, e.g. chronic illness in Massachusetts), clients can use the funds to:
Cover medical treatments (surgery, chemo, radiation, specialized therapies)
Travel costs, lodging near treatment centers, second opinions or out-of-network care
Home care, modifications, equipment, in-home nursing
Replace lost income so that monthly bills, mortgage, and groceries stay paid
Provide for family stability and peace of mind
In short: you don’t have to pick between health and finances.
Each October, awareness shifts toward early detection and supporting survivors. But financial survivorship is another fight that too many go into unarmed.
For clients: awareness is only half the battle—being prepared financially gives true choice and dignity in a difficult time.
For advisors: Breast Cancer Awareness Month is a natural moment to open conversations that go deeper than “do you have life insurance?” Instead, ask: “Do you have life insurance that protects you while you live?”