WHAT UNDER 35s CLAIM FOR
The most claims paid out to policyholders under the age of 35 were for loss of income (46.6% of claims), of which musculoskeletal injury, usually a result of a car accident, was the major cause. At least 45% of claims as a result of death for under 35s resulted from car accidents.
Nearly 26% of claims paid by Liberty to younger policyholders were for lifestyle protection (critical illness), of which 40% were cancer related. Liberty found that skin cancer was more dominant among younger policyholders, possibly due to overexposure to the sun during sport and training.
At least 25% of claims for lifestyle protection were for cardiovascular illness, responsible for 14.3% of death claims for people under the age of 35. The incidence of cardiovascular illness for lifestyle protection was double for smokers.
Nearly 12% of loss of income protection payments were due to retrenchment.