Zurich insurance provides information on claims paid out in 2024 to provide insight into real life outcomes for their customers and their families.

A recent Zurich insurance report analyses and breaks down life and serious illness claims paid by Zurich in 2024.

The so-called ‘Big Three’; heart attack, cancer, and stroke, remain the leading causes of life and serious illness claims paid out in 2024 by the company. Covid has moved to the background as a cause of these claims more recently.

In 2024, Zurich paid out €98 million in life insurance, serious illness, and income protection claims.

Breaking down this figure:

Cancer is the leading cause of death and serious illness for Zurich claimants, accounting for 36% of death claims, and 68% of serious illness claims.

The next leading causes of claims were heart attack, stroke, and respiratory afflictions. 80% of serious illness claims were related to heart, cancer and stroke.

There were 949 life and serious illness claims paid out by Zurich in 2024.

When it comes to income protection insurance, there were 384 active income protection claims paid out in 2024.

37% of income  protection claims were related to cancer, 19% were due to musculo-skeletal conditions, and 15% due to mental health conditions.

Income protection is the policy that you are most likely to claim on with 23% of income protection claimants aged under 40, one claimant was as young as 26, and the average age of a claimant being 48.

Cancer accounts for 68% of serious illness claims, with a gender breakdown of 80% of female serious illness claims and 57% of male serious illness claims. 59% of female cancer claims related to breast cancer with claims being paid to some women in their thirties.

14% of cancer claims related to prostate cancer with the average age of a prostate diagnosis claimant being 60.

Zurich offers specific cancer cover which is more accessible and affordable than full serious illness protection and offers cover for cancer only. 

Cancer cover from Zurich may be available to those whose health prevents them from being able to purchase full serious illness protection.

3% of life and serious illness claims are declined each year, largely due to incomplete disclosure of relevant information at the application stage. The most common reason for non disclosure is a history of alcohol abuse.

The report cautions that it is always best to be fully transparent about your health when applying for financial protection, including life insurance, serious illness cover, and income protection, rather than run the risk of being declined when you make a claim.

If you are concerned about being declined for financial protection due to your health history or a pre-existing medical condition, it is always advised to speak to an insurance advisor as you may be able to obtain protection and at better terms than you might expect.

There are a number of reasons that it is best to purchase life and serious illness cover, as well as income protection, from an insurance advisor such as our Central Bank regulated advisors.

Assess your needs

An insurance advisor will assess your needs and help you to determine the best type of financial protection for your situation. 

They can help you to understand the different types of protection; life insurance, serious illness cover, and income protection.

Support at application stage

An insurance advisor will be able to help you at the application stage as they have insight into the different insurers in the market and their products and criteria. 

This can mean that you will be at less risk of being declined for protection and will save you time and hassle.

Variety of quotes

An insurance advisor can also get you quotes from all of the insurers on the market and can tailor your financial protection to your needs and circumstances. 

Compare insurance is committed to bringing you quotes from all insurers on the Irish market.

The figures shown by Zurich for claims in 2024 demonstrate one simple fact. Life insurance, serious illness cover, and income protection insurance pay out for the vast majority of claims.

This means that, if you become ill, financial protection will offer an invaluable financial safety net for you or your loved ones at a challenging time.

Compare Insurance can help you to compare life and serious illness protection providers and quotes and our advisors will provide you with complementary quotes and consultations on all products with no obligation to purchase. 

Choose your protection type and fill in our online assessment to speak to a trustworthy and reliable Central bank regulated insurance advisor.