Claims for serious illness up by 62%

CLAIMS for serious illness on life assurance policies jumped by 62% last year, according to one of the country’s major companies.

Cancer claims continue to grow in number, accounting for almost half of all claims. The disease represented 66% of all female claims, compared with 40% of all male claims in 2001, figures released by Canada Life indicate.

Heightened public awareness and early detection are cited as two of the main factors in the growing number of claims. Another factor is the expansion of the life assurance market.