Aegon UK is sharing previously unpublished figures on breast cancer claims in 2012, as we enter Breast Cancer Awareness Month.
While cancer as a whole made up 60% of all critical illness claims Aegon received in 2012, breast cancer on its own accounted for 23% of these claims – the biggest single cause of critical illness claims that year.
Simon Jacobs, head of underwriting and claims strategy at Aegon UK, said: “These figures combined with the 21 per cent of claims for breast cancer in 2011 demonstrate how important breast cancer awareness is. The good news is that the recent figures released by the Office of National Statistics revealed that women diagnosed with breast cancer are surviving longer.”
In addition, Aegon paid out almost £5.5million in breast cancer critical illness claims in 2012, with an average pay out of £67,500. The average age at claim was 46 years old, with the youngest being only 35 years old.
Breast cancer accounted for 5% of life claims paid in 2012.
Jacobs added: “Early detection and better treatment means that survival rates after a diagnosis of breast cancer are improving. This is clearly reflected in the claims for breast cancer and also creates a stronger case around the importance of critical illness cover.
“Treatment of breast cancer often involves surgery, chemotherapy, hormone therapy or all three. It’s a difficult time for sufferers and their families and with this in mind we make the claims process as simple and quick as possible.”
Jacobs said: “We offer a tele claims process where customers are given a dedicated claims assessor who will complete the claim form for them over the phone and progress the claim. We usually pay the claim within six to seven weeks and we’re continually looking for ways to reduce this further.”
