Critical illness
Claims made for children on critical illness (CI) policies rose by 19% in the last six months of 2003, according to recent figures from Scottish Provident. The insurer paid out just over £400,000 in children's benefits between June and December 2003 - a fifth of all its children's CI benefit payouts since they were introduced in 1991.
The latest figures reveal that once again, leukaemia was the most common claimed for condition among children in the second half of 2003. In the previous six months, cancers traditionally more common in adults such as malignant brain tumour, liver cancer and malignant melanoma, were more commonplace.
"The figures show a significant increase in children's claims and regardless of the cause, the benefits of taking out children's insurance are significant. Children's income benefit can provide a financial cushion for parents who have to give up work or reduce their hours to look after a sick child," said Nick Kirwan, head of protection product development at Abbey for Intermediaries.
The research also showed that cancer remains the main reason for CI claims, with almost £135 million being paid out by the insurer since 1991. Breast cancer continues to be the main reason for female cancer claims, with 85 cases paid out in the latter half of 2003 - a 21% increase on the previous six months.
Scottish Provident said that one of the reasons for the rise in breast cancer claims could be partly attributed to better screening and greater awareness.
