Four in ten female CI claims for breast cancer

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Breast cancer is the was the common cause of female Critical Illness (CI) claims from Aviva and Friends Life, accounting for 44% of all claims by females in 2014, the insurer has revealed.

Overall breast cancer accounts for 22% of claims paid on critical illness policies, with £62.8m paid out, for an average payout of £72,500.

Aviva and Friends Life's breast cancer CI payments included six cases of male breast cancer.

Breast cancer was the most claimed for cancer, accounting for 36% of all cancer claims, with gastrointestinal cancer at 11%.

Among women breast cancer accounted for 58% of all CI claims made to Aviva and Friends Life, with gynaecological cancer the second most common form at 10%.

Payments were also made to CI policyholders with ductal carcinoma in situ of the breast (DCIS), for which policyholders receive a lump sum of up to £25,000 while their policy continues without changing the sum assured.

Claims for breast cancer on CI policies have increased over the last five years for Aviva, rising from 22% of all claims in 2010 to 23% of all claims in 2014.

The average age of claimants has also risen, in 2010 it was about 44 years and in 2014 this had risen to about 47 years of age.

Robert Morrison, chief protection underwriter for Aviva said: "Unfortunately one in eight women in the UK will develop breast cancer in their lifetime and it's by far the most common cause of critical illness claims amongst our customers, accounting for well over two-fifths of claims last year.

"Receiving a critical illness payment can mean that people have choices they might not otherwise have, whether this means being able to take time off work to concentrate on treatment and their family, getting help around the house, or helping to pay off the mortgage to provide some financial security in the future."

Further reading:

Critical Illness Cover: Insurance benefit or windfall?

Bright Grey upgrades critical illness cover

Aviva and Friends Life merger probed by FCA - report

 

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