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Cancer the main cause for Life Insurance payouts in 2018

The main cause of Life Insurance pay-outs in 2018 was Cancer according to Irish Life’s annual report 2018.

Irish Life paid €300 million in combined Life Insurance, Serious Illness and injury claims in 2018. Their report stares that there was an 11% increase in the number of claims last year in comparison to 2017.

A staggering 50% of people have no Life Insurance cover, leaving their family financially drained in the event of death, as only 1 in 5 people have enough savings in place to cover themselves in the event of serious illness, injury or death.

The average cost for a funeral is €4062, but costs can easily escalate depending on the kind of service. Areas of South Dublin a plot alone can cost from €16,000 – €18,000.

Unsure how much cover you would even need? Click here to calculate how much life cover you would really need.

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