New Ireland announced today that they paid out over €94 million to customers across its suite of protection products.
Some of the stats relating to the €94 million are quite shocking, for example;
- Appox 58% of life cover claim and 85% of serious illness claims were for Cancer and Heart related illnesses.
- Early claims – almost half of Life Cover claims occurred in the first 10 years of the policy.
- Young Claimants - 15% of Life Cover and 44% of Serious Illness claimants were aged 49 or under.
- Average Claim – for Life Cover was €68,000.
- Highest claim – for Life Cover paid out on a single claim was in excess of €8 million.
We cannot stress enough how important it is to have financial protection by way of having Life assurance and illness cover. This is just one company’s claim figures for 2012, other companies will release their figures in due course.
One of the most striking of figures above is that the Average Claim for Life Cover was €68,000. Think of this in terms of your family and the extra protection you have for them? If you feel you need an extra bit of cover please give us a call on 0719159222.
Life assurance does not cost a lot but not having it can cost so much more.