Heart attack, stroke and cancer account for 60% of life insurance claims in the regionClaims for living benefits surpassed life insurance claims for the first time, amounting to 56% of the total claims, a 6% increase compared to last year, suggesting a growing trend and increased emphasis on supporting customers during their lifetimes.
Zurich International Life, part of Zurich Insurance Group , has just revealed their claims payouts, reaching US$210 million across individual and group life claims. Their recent Customer Claims Paid Report 2024 highlights the major causes of life and critical illness claims. This year, individual claims amounted to US$170 million, compared to last year’s US$160 million, necessitating a closer examination of individual lifestyle choices.
The report highlights significant differences in claim patterns between men and women, shedding light on the need for tailored insurance solutions that address unique health conditions. While existing beliefs often suggest otherwise, cancer affects both men and women. Among critical illness claims, cancer constitutes 80% for women, yet it’s crucial to recognise that men also face substantial cancer risks.