Ahead of Breast Cancer Awareness Month in October the latest figures from LV= show two thirds of female cancer claims relate to breast cancer.
The figures show that cancer as a whole was the most common reason for a critical illness claim, accounting for nearly three quarters (70%) of all female claims and half (50%) of all claims for males. Two thirds (65%) of all LV= female cancer claims were for breast cancer with an average age of 45. In comparison, the second most commonly claimed for conditions for women, heart attack and other heart related conditions, accounted for only 8% of all female claims.
In 2013 breast cancer claims alone accounted for nearly 20% of all the critical illness claims LV= paid out. The average payout for these claims came in at £81,438.
Myles Rix, Managing Director of Protection at LV= said: “As one in eight women will be diagnosed with breast cancer during their lifetime it’s no surprise that we see such a high number of claims relating to this illness.
“It’s really positive that cancer survival rates have improved significantly over the past few decades however having a critical illness policy in place gives you peace of mind that, if the worst were to happen, you would not find yourself and your loved ones in a financially vulnerable position. Although milestones such as starting a family and purchasing a property tend to be points at which people consider protection, the best time to take out protection products such as critical illness cover is while you are healthy.”
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