According to one of the largest studies ever conducted, women who take the Pill dramatically lower their risk of developing cancer later in life.

Those women who took the Pill for less than 8 years saw a 12 percent decrease in their cancer risk. (Though it's worth noting that for the small percentage of women that took the pill for more than 8 years, their cancer risk actually increased.)

Subsequently, even though the Pill only reduces the risk of certain types of the disease -- such as bowel, rectal, uterine and ovarian cancers -- researchers still concluded that these cancer benefits far outweigh any potential health risks of oral contraceptives.

Good news for the more than 300 million women who have used the Pill since it was first introduced in the early 1960s.