Young women are woefully underinsured against cancer and other critical illnesses, according to new ...
Young women are woefully underinsured against cancer and other critical illnesses, according to new research from Scottish Equitable Protect.
The insurer found that of those critical illness policies taken out by people ages 18 to 34, only 30% are bought by women. But this market is at risk. Research by the Cancer Research Campaign, which shows the incidence of malignant melanoma ' the most dangerous form of skin cancer ' among women in this age group has doubled in the last 30 years. These statistics are compounded by the fact that 56% of women between the ages of 20 and 34 are single and would therefore find themselves without any financial provisions in the event of contracting a condition such as this.
Laura Shanks, product development manager at Scottish Equitable Protect, said: 'Our research highlights the scale of under-protection against critical illness. IFAs should be encouraging clients to make protection the bedrock of their personal finances, and explaining the benefits of taking out a policy sooner rather than later.'
