Cancer and heart attacks account for more than 75 per cent of all insurance claims for critical illness, according to study published today.
The study, done by the Society of Actuaries in Ireland, shows that cancer accounts for 75 per cent of critical illness claims paid to females and 45 per cent of claims paid to males.
Heart attack accounted for 10 per cent of critical illness claims paid to females and 30 per cent of claims paid to males, according to the analysis of claims to life insurance firms between 2001 and 2003.
The claim patterns varies significantly by age and gender. Women are 15 per cent more likely than men to suffer a serious illness in their 20s and 30s, with the trend reversing at ages in the 40s and above where males suffer around 25 per cent more claims.
The study shows that male smokers are up to twice as likely to suffer a critical illness as their non-smoking counterparts, and female smokers are up to 50 per cent more likely.
Anthony Brennan, who chaired the study of behalf of the Society of Actuaries' Life Committee, said the results of the study supports the continuation of different critical illness premium rates for men and women.
