- Breast cancer most common cause of claims in 2015
- £72m paid in breast cancer claims since 2010
- Low take up of additional payment feature
More than 20% of Zurich’s critical illness claims during the first half of this year were from customers with breast cancer with payments amounting to over £7.3m. While over the past five years, the insurer has paid out nearly £72m to over 1000 people with the disease, making it the most claimed-for condition.
In 2013 the insurer enhanced its product particularly for those with breast cancer, adding an additional payments feature, though surprisingly few have claimed.
The option means that eligible customers with less advanced forms of the disease can benefit from a pay-out of 20% of their sum assured or £15K (whichever is lower). Successful additional claims do not reduce the customer’s sum assured and there is no restriction on the number of claims that can be made.
The additional payments are not restricted to claims for Ductal Carcinoma in Situ but instead cover all carcinomas in situ of the breast. And customers with the disease also benefit from flexibility over treatment options in terms of how this will impact on a partial claim. For example, they can make an additional claim if their treatment is a lumpectomy just as they would for a mastectomy.
Peter Hamilton, Director at Zurich UK Life said: “Breast cancer awareness month provides us with a valuable opportunity to remind customers to check their policies and make sure they’re aware of what they can claim for. Fewer customers than expected have made claims for additional payments and our concern is that people aren’t aware of the benefit.
“Even though the vast majority of those with breast cancer now survive, with treatment for the condition continually evolving, we know from experience that the impact of a diagnosis and treatment can be devastating. The financial support provided by critical illness cover can help take away some of the stresses and strains on our customers and their families in the hope that they can focus on recovery.”
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