Cancer leads 'big four' in claim payouts
Disease's prevalence underlines why life assurance, medical cover are essential
Cancer is the leading cause of most claims paid by Old Mutual, the latest claims statistics released by the life assurer earlier this month show. Old Mutual's stats, which corroborate those released by Liberty and Momentum earlier this year, highlight the importance of adequate cover for the risk of getting cancer. Life assurers' claims stats provide an analysis of claims paid for death cover, severe-illness and physical-impairment cover, and disability cover. Cancer and tumours were the biggest category (25%) of claims for death cover from Old Mutual in 2016, followed closely by cardiovascular disorder (24%). Old Mutual's statistics show that cancer and tumours were the biggest cause of death claims among women last year, while cardiovascular diseases were the biggest cause of death claims among men. Of all severe-illness claims paid by Old Mutual last year, 81% were for the "big four" - cancer, heart attack, stroke and heart bypass surgery - with cancer claims accounting for the l...
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