New data on critical illnesses revealed

Bingham-Woods independent financial advisers, Spalding.  Photo by Tim Wilson.

Bingham-Woods independent financial advisers, Spalding. Photo by Tim Wilson.

0
Have your say

Insurance, savings and investment providers Aviva has analysed data relating to critical illness claims and breast cancer.

Aviva has revealed that breast cancer is the most commonly claimed for condition among men and women on their critical illness protection plans, with the illness accounting for almost a quarter, 24 per cent, of claims. 

Money Matters with Scott Woods of Bingham-Woods Independent Financial Advisers, Spalding.

Money Matters with Scott Woods of Bingham-Woods Independent Financial Advisers, Spalding.

Published for Breast Cancer Awareness Month, which runs throughout October, data from the insurer also showed that breast cancer is by far the most common reason for claiming among women, accounting for 48 per cent of claims.

Last year, Aviva paid out over £33 million to critical illness customers with breast cancer, with an average payment of more than £79,000 and this includes five cases of male breast cancer.

Aviva said it received almost twice as many claims for breast cancer than the next most common condition, heart attacks which made up 11 per cent of claims.

Around 50,000 women and 350 men are diagnosed with breast cancer each year, according to figures from British Isles research charity BreastCancerCampaign.org.

Robert Morrison, chief underwriter for Aviva said: “Breast cancer is one of the most common forms of cancer in the UK and sadly it affects more than 50,000 people and their families across the nation each year.

“It’s therefore no surprise that it’s the biggest reason for claims among our critical illness customers, accounting for almost half of claims from women.

“When someone is unwell and undergoing treatment, the last thing they want to worry about is how to pay the bills. Therefore, a payment from a critical illness policy can take away financial concerns and provide that space whereby people can concentrate on themselves and their health when it matters most.”