The figures show that cancer as a whole was the most common reason for a critical illness claim, accounting for nearly three quarters (70%) of all female claims and half (50%) of all claims for males.
The insurer revealed its claims figures ahead of Ovarian Cancer Awareness Month and Prostate Cancer Awareness Month in March.
Cancer Research figures have shown that prostate cancer is the most common form of cancer in men across the UK, with 42,000 men diagnosed every year. There are around 7,000 cases of ovarian cancer every year in the UK, making it the fourth most common form of cancer death in women.
Myles Rix, managing director of protection at LV= said: “As well as the emotional and health impacts, the negative impact that cancer can have on an individual’s finances is significant.
“In the UK over 900 people are diagnosed with cancer every day on average. Fortunately over the past few decades cancer survival rates have improved considerably but many can find themselves unable to work and financially vulnerable at a time when they are unwell.
“No one likes to think about getting ill but having a critical illness or income protection policy in place gives someone peace of mind that if the worst were to happen they would have a financial safety net for themselves and their loved ones.”
