Life Insurance claims paid by Zurich in 2024

In 2024, we paid over €98 million in life, serious illness, and income protection claims to our clients and their families. However, to us, these are much more than numbers. Behind every claim is a person or family experiencing challenging times. This is why, when you make a claim, it is handled individually by our dedicated specialists, ensuring that we deliver an honest and fair outcome for you.

By sharing our claims record, we aim to provide insights into the real-life outcomes of having cover and give you confidence in our unwavering dedication to supporting you through challenging times.

The leading causes of claim remain stable, whereas Covid moves to the background

We paid over €64 million in life claims and over €24 million in serious illness claims. The classic “Big Three” (heart attack, stroke, and cancer) remain the leading causes of claims in these categories. Cancer continued to be the principal cause of death and serious illness claims, accounting for 36% of all our death claims and 68% of our serious illness claims.

Besides cancer, the most common reasons for insurance claims related to loss of life in Ireland are heart attack, stroke, and respiratory afflictions. There were very few new deaths with Covid as the primary and only cause of death last year. Five years after Covid first made the news, it has gradually moved to the background.

An honest application provides the key to good claims outcomes

Unfortunately, each year, a small percentage of claims are declined across the market. Currently, across the market almost 3% of all life and serious illness claims are declined because clients did not disclose all relevant information at the application stage, with a history of alcohol abuse being the most common cause of non-disclosure.

Unfortunately, this usually only comes to light at the claims stage – at a time when a policy should be paying out. This highlights the importance of being transparent about your health, lifestyle, and family history when purchasing life or serious illness insurance.

For more information about the importance of disclosure, read our client guide.

Income protection is the protection policy you are most likely to have to claim on

In 2024, we paid out over €10 million in income protection claims to 384 claimants. 37% of new claims were submitted as a result of cancer, 19% were due to musculo-skeletal conditions, and 15% were related to mental health conditions.

A key aspect of our income protection claims process is the emphasis on early intervention. This can be very effective, especially for those who notify us of a claim related to musculo-skeletal conditions or mental health conditions. When we receive a potential income protection claim, we assess whether you could benefit from our Early Intervention services, provided by our partner Health Claims Bureau. We also offer back-to-work services such as physiotherapy and psychological support.

At Zurich, we believe income protection is the first step to becoming financially resilient. It is also the protection policy you are most likely to claim on. 23% of claimants were 40 years old or younger. The average age at the time of claim was 48, but the youngest claimant was only 26 years old.

Cancer cover – an accessible and affordable alternative to serious illness cover

Cancer accounts for 68% of serious illness claims. A deeper analysis reveals that cancer impacts women more than men, with cancer accounting for 80% of serious illness claims for females and 57% for males. 59% of female cancer claims were breast cancer-related. The average age of breast cancer claimants was 51, but we’ve also paid out claims to women in their thirties.

The second most common reason for a cancer-related claim is prostate cancer, which accounted for 14% of all cancer-related claims. Claimants with prostate cancer on average received their diagnosis at the age of 60.

With cancer being responsible for the vast majority of all serious illness claims, protecting you against the financial consequences of cancer is of the utmost importance. This is why we offer Cancer cover. Cancer cover is different from traditional serious illness plans as it focuses solely on cancer and therefore costs less than full serious illness cover. While still offering strong protection, Cancer cover provides an accessible and budget-friendly alternative, which is also suitable for individuals with a non-cancer-related medical history that excluded them from full serious illness cover.

Learn more about our claims record in our 2024 Claims report.