- Women have a 1 in 4 chance of being diagnosed with cancer and men a 1 in 3 chance
- 20,000 new cases of cancer are diagnosed in Ireland each year
- Approximately 10,000 Irish people have a stroke each year
- Approximately 30,000 people live in Ireland with disabilities following a stroke
- 60% of people diagnosed with cancer in 2008 were still alive 5 years later
- You are 3 times more likely to survive a serious illness diagnosis than to die before the age of 65
If you are diagnosed with a serious illness, you will likely face a period of recuperation, uninsured medical costs and perhaps even the need to modify your home to your needs. Your mortgage or rent and other day to day bills also need to be paid, so you need to ensure that the financial impact of such an illness is dealt with.
Specified illness insurance pays out a lump sum if you are diagnosed with one of almost 70 different illnesses and conditions. Most claims come from cancer, heart-related problems and stroke.
Statistics from Irish Life Assurance, one of Irelands leading providers of serious illness cover show that:
- 1 in 3 specified illness claims were from people under 50
- Breast cancer was the main type of cancer for specified illness cover claims
- Women claim earlier than men (age 51 compared to 55 for men), yet only 1 in 10 women say they have specified illness cover