General Insurance Article - Employers urged to use Group Risk as cancer stats released


Katharine Moxham, spokesperson for GRiD said: “Cancer continues to be the number one** cause of claim under all three Group Risk products (employer-sponsored life assurance, income protection and critical illness). Group Risk benefits absolutely come into their own when it comes to supporting employees with cancer. Support includes financial pay outs - at a time when those diagnosed have other things on their mind - providing much-needed relief from financial pressures.

 In 2015 there were almost 300,000 cancers registered in England*
 Approximately 822 per day
 Breast (15.4%), prostate (13.4%), lung (12.5%) and colorectal (11.6%) cancer continue to account for over half of the malignant cancer registrations

  In 2016 the industry paid out benefits for more than 6,000 cancer sufferers – either to those newly diagnosed with cancer or to the families of those not fortunate enough to survive this dreadful disease. Just as importantly, Group Risk providers give a lot of additional support, including fast-track access to counselling and second medical opinion services that can be a great help to cancer sufferers and their families.

 “When you hear first-hand from those that benefit from their group risk insurance, both financially and emotionally, it really brings the products to life. Offering them within employee benefit packages isn’t just a tick-box exercise, it can mean the difference between someone being financially and emotionally supported or not.

 “Employers that get the best appreciation and take-up of their group risk benefits are those that explain the support that’s available within the products.”
  

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