'Youngsters' buying critical illness cover
- Published: 14/08/2007
The average age of people buying critical illness cover (CIC) is just 33, a new report reveals.
A study from price comparison site moneysupermarket.com shows that CIC is increasingly being seen as an essential product among younger insurance buyers - with the prevalent age of incidence in several critical illnesses falling in the 20- to 40-year-old bracket.
Most people contracting multiple sclerosis are aged between 20- to 40-years old, while half of all cases of testicular cancer are reported in those under the age of 35. The peak age for new cases of cervical cancer is between the ages of 25 to 29, the study states.
"It is encouraging that young people are opting to secure themselves against critical illnesses by taking measures to cover themselves should the worst happen," Emma Walker, head of protection at the price comparison website, commented.
"At 33, people might be undergoing life changes such as getting married, buying a new home or starting a family and, as a result, they have new financial responsibilities."
A study from price comparison site moneysupermarket.com shows that CIC is increasingly being seen as an essential product among younger insurance buyers - with the prevalent age of incidence in several critical illnesses falling in the 20- to 40-year-old bracket.
Most people contracting multiple sclerosis are aged between 20- to 40-years old, while half of all cases of testicular cancer are reported in those under the age of 35. The peak age for new cases of cervical cancer is between the ages of 25 to 29, the study states.
"It is encouraging that young people are opting to secure themselves against critical illnesses by taking measures to cover themselves should the worst happen," Emma Walker, head of protection at the price comparison website, commented.
"At 33, people might be undergoing life changes such as getting married, buying a new home or starting a family and, as a result, they have new financial responsibilities."