Nearly Half Of Claims Occur Between Ages 35 and 54
Cancer was the leading cause for critical illness insurance claims last year according to newly-published study findings. Stroke was the second leading cause followed by heart attack according to the 2012 Buyer & Claimant Study conducted by the American Association for Critical Illness Insurance (AACII) and General Re Life Corporation.
According to the study, cancer accounted for 61 percent of new claims opened by those with individual policies in 2011. Stroke accounted for 18 percent of new claims and heart attack accounted for 11 percent.
The study which analyzed data based on a total of $18 million in claims paid, found that some 13 percent of male policyholders and 12 percent of female policyholders who filed new claims were younger than 45. Roughly a third of claimants (33% male and 35% female) were between ages 45 and 54 and over half (53%) of both groups were age 55 or older when they opened a claim on their critical illness insurance policy.
Summarized findings of the 2012 Buyer & Claimant Study can be requested from the Association. The American Association for Critical Illness Insurance is the national trade association providing information to consumers and insurance professionals. Free access to the organization's online learning, marketing and sales center is offered to insurance and financial professionals. For further information, visit the Website: www.aacii.org or call (818) 597-3205.