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.”
  

Back to Index


Similar News to this Story

Cyber risk tops the global people risk agenda
Organizations and their people are operating under sustained uncertainty because of rising cyber threats, rapid adoption of artificial intelligence (A
Cyber risk is now a business wide threat
Beazley’s Risk & Resilience: Cyber Threat and Tech Advances 2026 report, based on a survey of 3,500 global business leaders, shows a growing disconnec
FCA spearheads global action to stop illegal finfluencers
The FCA has led international action to stop illegal finfluencers putting consumers' money at risk. Seventeen regulators worldwide took part in t

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.