Cancer remains dominant disease affecting women

CANCER remains overwhelmingly the dominant disease affecting women, according to an analysis of life assurance figures.

For the third year in a row, cancer remains the primary cause of claims for illness and death claims in both sexes, the latest figures from Irish Life reveal.

Almost eight in 10 payouts to women for specified illness are for cancer, over half in respect of breast cancer. Prostrate cancer accounted for almost a quarter of male cancer claims.

The figures show that:

* Men have seven times the female level of heart-related specified illness.

* Alcohol was a factor in one in five of the 167 claims in respect of accidental or sudden death.

* Almost half of all life cover claims for people under 40 were the result of accidental or sudden death.

* Other than cancer and heart disease (80% of claims), the other main causes of specified illness claims were stroke (33) and multiple sclerosis (23).

* The average specified illness payment in 2008 was just under €59,000.

* The average death benefit pay-out was €65,000.

Irish Life’s head of underwriting and claims, Martin Duffy, said their death claim figures show a significant number of payments in respect of people in their 30s, 40s and 50s, many of whom were main income earners.

“This shows how crucially important it is to examine your level of specified illness and life cover to ensure your family is fully cared for. Our average payment for death claims last year was just under €65,000, which would only give a family an annual income of €4,607 for 20 years,” Mr Duffy said. “Many Irish families who lose a loved one could also have to face up to coping with financial difficulties.”

Mr Duffy also highlighted the continuing impact of alcohol on accident-related death claims. “One in five accidental or sudden deaths claims paid by Irish Life last year involved alcohol in some shape or form and that is a worrying statistic and one that should be borne in mind by policymakers.”

Overall, Irish Life paid out €115 million in death and specified illness cover claims in 2008. The single largest death benefit was €1.2 million in respect of a 45-year-old female who died of ovarian cancer.