We have published our annual claims report where we paid out €204 million to customers and their families affected by injury, illness and death during 2015. The data, which provides a valuable insight into the health of the nation, includes analysis of the illnesses and conditions that led to payments for 5,449 Life Insurance, Specified Illness Cover and Income Protection claims in 2015.
The analysis of the claims book shows that we paid out €103 million for 1,551 Life Insurance claims, with an average payment of €66,462.
Cancer accounted for 64% of the Specified Illness Claims with heart related conditions responsible for 18% of claims.
Commenting on the data Gerry Hassett, Managing Director, Irish Life Retail said that the scale of the claims paid by Irish Life during 2015 highlighted the importance of people protecting themselves and their families. “When you consider that we paid an average of €4 million a week to people and families affected by illness and death, and that 40% of our specified illness claims were to people under 50 years of age, it really shows how insurance can help ease the financial burden for families at difficult times,” he said.