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The cost of cancer: Life insurers pay a massive $1.55 billion in claims

The cost of cancer: Life insurers pay a massive $1.55 billion in claims

It’s hard to find someone in Australia who’s life hasn’t been touched by cancer. In fact, approximately 1 in 2 of us will be diagnosed with some form of the disease by age 85*.

When it comes to a condition that affects so many, it pays to be protected. New research has revealed that life insurers paid out over $1.55 billion in cancer-related life insurance claims last financial year**.

The data also revealed that breast cancer was by far the most claimed form of cancer***. For Australians, especially those with a family history of cancer, this is a great reminder not only to book in a check up, but also to make sure you have adequate protection in place.

Whether you have cover already, or you’re taking out life insurance for the first time, everyone wants to make sure they’re getting great value insurance. Why not compare and get a free quote today?

Here’s how it works:

Step 1: Select your current age below.

Step 2: Once you answer a few questions, you will have the opportunity to compare quotes from up to 9 of Australia’s largest insurers. You may also be entitled to a free consultation.

Even if you already have cover in place, reviewing the market to make sure you’re not paying more than you need to can save you a huge amount of money.

If you think about how many years you hold a policy for, even a modest yearly saving can make an enormous difference over time.

If you’ve never taken out a life insurance policy, the other findings of the report might have you reconsidering that decision.

A startling 8.82 claims are made for breast cancer from every 100,000 people insured. This is followed by prostate cancer (4.47), and then colon, lung and skin cancer****.

Although we don’t like to think about it, these conditions are common, and they’re affecting people just like you.

Thankfully, being prepared for them is simple. Not only can you compare life insurance with us, you can also take out a new policy, all without leaving your house.

Reviewing your life insurance or taking out cover can be a lot of hard work, but luckily you have the experts at Life Insurance Comparison on hand to make it easy.

All you have to do is click through to our online comparison service and in just a few clicks you’ll discover what you could be paying for peace of mind.

You can also contact our agents directly. These experts can talk you through your options, explain the finer points and even walk you through each step of the switching process.

You can shop with confidence, knowing that an expert will help you compare prices and features from a selection of Australia’s leading life insurers, all at no cost or obligation to you.

Get started now:

Step 1: Select your state below.

Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

[1] Facts and figures’, Cancer Council. https://www.cancer.org.au/about-cancer/what-is-cancer/facts-and-figures.html

[2] World Cancer Day: Life insurance cancer claims data released, FSC, https://www.fsc.org.au/resources/1920-fsc-media-release-life-insurance-cancer-claims-data-1/file

[3] World Cancer Day: Life insurance cancer claims data released, FSC, https://www.fsc.org.au/resources/1920-fsc-media-release-life-insurance-cancer-claims-data-1/file

[4] World Cancer Day: Life insurance cancer claims data released, FSC, https://www.fsc.org.au/resources/1920-fsc-media-release-life-insurance-cancer-claims-data-1/file

The information contained on this web page is of general nature only and has been prepared without taking into consideration your objectives, needs and financial situation. As such, it is important that you consider the appropriateness of the advice and the relevant product disclosure statement (PDS) before proceeding. Any opinions expressed within an article are those of the author and do not specifically reflect the views of Compare Club Australia Pty Ltd.

Life insurance policies are subject to the age restriction of 75 and under. For more information contact 1300 904 624 or email us at info@lifeinsurancecomparison.com.au

This article is made in partnership with Life Insurance Comparison.