Article date: 28 January 2014
Ahead of World Cancer day on 4 February, Aviva has released previously unseen figures from its critical illness (CI), income protection (IP) and private medical insurance (PMI) claims statistics.
The data reveals that cancer is the most claimed for condition under critical illness cover by a considerable margin, while diagnosis and medical treatments for cancer account for around a fifth of the cost of all claims on PMI policies.
Two thirds of critical illness claims (66%) are for cancer. In 2012 the insurer paid out more than £77 million to almost 1,000 critical illness customers diagnosed with cancer, an average of £79,500 each, showing how the insurance can provide comfort at a time of serious illness. Over the same period, Aviva also paid claims to 157 individual income protection customers with cancer, with an average monthly benefit of £914 per month.
Similarly, more than £69m was paid out to cover the cost of cancer diagnosis and treatment for over 7,000 PMI customers in 2012, equating to an average treatment cost of £9,857 per customer. The two most common cancers claimed for under PMI are breast and prostate, accounting for 44% of all cancer claims.
The top ten cancers claimed for under Aviva’s CI cover are:
- Gastro-intestinal (e.g. bowel, stomach cancers)
- Haematological (e.g. leukaemia, blood cancers)
- Gynaecological (e.g. ovarian, cervical cancers)
- Head and neck
The average age of CI claimants for cancers is 46 for men and 44 for women.
Aviva also provides additional critical illness benefits for four types of cancer, meaning customers can receive a payment of up to £20,000 if they are diagnosed with one of the following conditions, while their policy remains in force and their sum assured is unaffected:
- Ductal carcinoma in-situ, a form of early breast cancer
- Early prostate cancer
- Carcinoma in situ of the cervix requiring treatment with hysterectomy
- Carcinoma in situ of the testicle requiring surgical removal of one or both testicles
Craig Colton, protection director for Aviva says: “Cancer is by far and away the most common condition claimed for under our critical illness cover and a significant cause of PMI claims. Sadly we know that the number of people with cancer is rising in the UK, with now more than 330,000 people being diagnosed each year. Fortunately the outlook is improving with survival rates doubling over the last 40 years.*
“Protection insurance can provide that all important peace of mind for many people who are diagnosed with cancer. PMI means that if a customer falls ill, they can get prompt diagnosis and quick access to private medical treatment, while CI and IP cover can help to ease financial pressures if the person is unable to work while they receive treatment. Having cover in place can make a world of difference, enabling people to focus on their health when it matters most.”
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Notes to editors:
* Statistics from Cancer Research UK
Aviva provides insurance, savings and investment products to 34 million customers worldwide.
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