It's no longer a 'what if' - cancer in real financial lives

Welcome to the first episode of this three-part series from Scottish Widows in partnership with Macmillan Cancer Support. The number of people living with and beyond cancer is projected to reach 5.4 million in the UK alone by 2045. This series will dive into the stats and personal stories of what rising cancer prevalence is likely to mean for advice conversations now and in the future. For part one, Jasmine Astley, business development manager at Scottish Widows is joined by professor Richard Simcock, chief medical officer at Macmillan Cancer Support. They discuss some of the findings from the recent Living with and beyond cancer in 2045 report and how cancer is likely to affect us all at some point. -- "The moment of a cancer diagnosis is like a pebble hitting the pond. That's where the biggest splash is. You hear those terrible words: 'You have cancer'. And that is life changing in all kinds of different ways. But that splash then creates ripples which go out and out and out and they affect your immediate family, they affect your work and they may go on to affect your life in multiple different ways, regardless of how you've been treated." Professor Richard Simcock, chief medical officer at Macmillan Cancer Support Over the next 20 years the number of people living with and beyond cancer is projected to rise by 58%, reaching 5.4 million in the UK. It's a sobering statistic. But behind the stats are people. More people will get cancer, more people will live with cancer and more diagnoses will happen during working life. The need for early ‘what if’ planning is only growing. While daunting - the report projections are not all bad news. Medical advances and increasing survival rates means people are living with cancer for longer. Professor Simcock explains how cancer is evolving from an acute illness to a chronic-like condition that affects millions over their lifetime. And that's not without its challenges. But understanding this shift helps us put the right support in place, from emotional and practical help to long-term financial resilience. We’re going to need greater collaboration from the likes of charities, insurers and advisers to ensure people get the information and support they need. Knowing the scale and risk makes the conversations we tend to want to shy away from all the more important to have - particularly under a Consumer Duty lens.