The majority of men who are diagnosed with cancer this year will be alive five years from now shares the director of the American Association for Critical Illness Insurance (AACII).  Some 97.6 percent of men diagnosed with prostate cancer have a five-year survival rate according to the latest data reports AACII.

"No one wants to hear the dreaded words, you have cancer, but the facts demonstrate that most people will still be alive five years from now," explains Jesse Slome, director of the American Association for Critical Illness Insurance.   "However, I'm not sure you can say the same thing for their finances which often are devastated as the result of a cancer diagnosis."

According to 2020 data was shared as part of the Association's awareness building campaign, nearly two thirds of men diagnosed with cancer have a five year survival rate.

"The majority of people who are diagnosed survive thanks to great medical care and advances made over the past decades," Slome notes.  "But even with the best health insurance, health issues like cancer are the leading reason Americans are forced into bankruptcy."

The most recent U.S. Cancer Statistics reveal five-year survival rates for commonly diagnosed forms of cancer among men.  The data finds the five-year survival rate for men is 97.6 percent for prostate cancer, 95.3 percent for testicular cancer, 93.5 for thyroid cancer and 63.2 for colon and rectal cancer.

The critical illness insurance organization's awareness campaign strives to educate women and men about the existence of a little-known form of insurance that can pay a lump sum upon diagnosis of cancer or a number of other critical illnesses.  "Today, for a few dollars a month, you can be eligible top receive a $10,000 check that can pay for uncovered medical costs or pay your rent or mortgage while you are away from work undergoing treatment or recovery," Slome shares.

To learn more about critical illness insurance costs and planning options visit the American Association for Critical Illness Insurance website at www.criticalillnessinsuranceinfo.org.