Suicide was the main cause of death for life insurance claims among males in their 20s and 30s, according to data from Aviva released as men’s health month Movember draws to a close this week.
This represented 30% of male life claims under the age of 30 and 24% of life claims for men aged 30-39.
The insurer further highlighted the importance of addressing male mental health by revealing that for income protection (IP) the most common cause of claim was mental health.
Aviva noted the average male IP claim was at an 43 years old, with 44% of male claimants being under the age of 40, and added it rehabilitation service supported 84% of men with mental health concerns back to work.
Male CI claims
While the findings identified prostate cancer as the second leading cause of male critical insurance (CI) claims, it did not figure among the top five cancers leading to life insurance claims.
The data revealed men were living longer with prostate cancer and are therefore more likely to claim on CI policies than life cover.
During 2020 Aviva paid £11,287,792 in prostate cancer claims to 167 critical illness customers – an average payment of £67,592,
Overall, critical illness customers with testicular cancer were paid a total of £4,968,486, with an average payment of £97,421 to 51 customers.
Men under 60 accounted for the vast majority (87%) of male critical illness (CI) claims, with 9% of claims coming from men aged under 40.
Jacqueline Kerwood, claims philosophy manager at Aviva, said: “Men of all ages are at risk of developing common critical illness conditions such as prostate and testicular cancer so it’s important to consider their health, wellbeing and protection needs as early as possible.
“While we know that men should undertake regular checks to be aware of the early warning signs of cancer, it’s also extremely important for men to be able to talk about their own health.
“This includes both physical and mental health and the desire to seek help and support to discuss any worries or concerns they might have.”
Kerwood added that should someone be diagnosed with cancer or mental health issues, CI and IP can provide crucial financial support to help customers focus on treatment and recovery rather than worry about their finances.
