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Figures show benefits of critical illness insurance for cancer patients
January 31, 2012
More than half of critical illness claims processed by Bright Grey in the second half of 2011 were for cancer.
The benefits of having critical illness insurance have been highlighted by new figures from insurer Bright Grey.
The life cover provider revealed that 55 per cent of critical illness claims processed in the second half of 2011 involved people diagnosed with cancer.
Roger Edwards, the insurer's proposition director, said this might appear to be a "frightening" statistic, but that more people than ever before are surviving cancer thanks to better screening and earlier testing.
He observed: "For many, chemo and other treatment means taking months off work and this is where the money from a critical illness policy comes into its own - easing any financial worries so they can focus on getting better."
The second most common reason for critical illness claims in the second half of 2011 was heart attack (ten per cent), followed by stroke and multiple sclerosis.
Bright Grey paid out 91 per cent of critical illness claims during the six-month period, with the average policyholder receiving a payout of £82,000.
Its figures also show that just two per cent of claims were declined for non-disclosure, where a policyholder has failed to disclose important information about pre-existing conditions or other factors that might affect their risk of illness.
Bright Grey Life Insurance
