- Men have a 1 in 2 chance of developing and being diagnosed with cancer and women a 1 in 3 chance*
- 43,000 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**
- 61% of people diagnosed with cancer in 2014 were still alive 5 years later – as per National Cancer Registry Annual Report
- You are 3 times more likely to survive a serious illness diagnosis than to die before the age of 65
* Statistics correct as of 13/01/2020 as per ncri.ie
** Figures correct as of 2017 as per The Irish Heart Foundation
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 90 different illnesses and conditions. Most claims come from cancer, heart-related problems and stroke.
Statistics from Irish Life Assurance, one of Ireland’s 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