Life Insurance. Do i really need it?

Written by  Wednesday, 06 February 2013 00:00

LIFE INSURANCE. I'm still young, i dont need it yet.

There is a general consensus that insurance companies do their best not to pay out claims, and that you only need it in later life. Obviously its only the people who are unsuccessful that are shouting about it. Those that do make a successful claim are very glad they had it.
 
What surprised me reading the latest report from Bright Grey was the age of some of the claimants. 37% under the age of 40!!!
 
Here are what they have just published.
 
Critical Illness claims paid 93% Amount of Critical Illness claims paid  £17.1m Average Critical Illness payout £73k
 
Detailed breakdown of Critical Illness claims:
Cancer 64%
Heart attack 14%
Multiple sclerosis 8%
Stroke 4%
Benign brain tumour 1%
Heart valve replacement or repair 1%
Open heart surgery 1%
Kidney failure 1%
Parkinson's 1%
Coronary artery bypass 1%
Traumatic head injury 1%
Other 3%
 
 
Age breakdown
 
Up to 40 37%
41-50 37%
51-60 23%
Over 60 3%
 
Gender breakdown
 
Male  51% Female  49%
 
A snapshot of people who've claimed on their critical illness plans
 
Male 19 Army soldier £85,000 Loss of hands or feet
Female 26 Housewife £82,292 ervical cancer
Male 27 Engineer £98,212 Traumatic head injury
Female 29 Social worker £89,032 Kidney failure
Female 34 Administration officer £220,000.00 Breast cancer
Female 42 Surgery nurse£40,198 Heart attack
Male 47 Catering manager £146,986 Heart valve replacement or repair
Female 53 Teacher's assistant £25,000 Major organ transplant
Male 57 Chartered surveyor £137,000 Coronary artery bypass
Male 60 HGV driver £100,000 Leukaemia

For information or a personal quote call Steve on 07946294162

Read 1723 times Last modified on Sunday, 10 February 2013 19:19

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