About 18,000 people are diagnosed in Lithuania every year. new cases of oncological diseases. Of course, doctors always advise to live as healthy as possible and to have regular health check-ups to prevent oncological diseases or to detect them in the initial stages. It is also worth taking care of what we will live on if such a serious illness strikes, who takes care of family members. We need a solution that will allow us to protect ourselves financially, so that in the event of an illness, we can only take care of our health, not money.

Breast cancer struck unexpectedly – insurance helped

Allianz Lietuva advisor, financial consultant Renata Mikelaitienė notices that oncological diseases of her clients usually occur unexpectedly.

“I will share the story of one client, although such a one, I congratulate you. A young, self-care woman, just over 50 years old and seemingly without any genetic inheritance to get oncological diseases, heard the diagnosis of breast cancer from the doctors. An operation was performed, a long path of treatment and rehabilitation awaited. It’s a situation where the earth seems to be falling apart. After all, he is a person of working age,” said the Allianz Lietuva adviser.

R. Mikelaitienė adds that one thing strongly saved this woman. This is the assurance that she will have something to live on during treatment, enough money for rehabilitation, because the client had concluded a life insurance contract and chose insurance coverage against critical illnesses, and therefore cancer. After the diagnosis, the client only had to provide medical documents and a solid insurance payment for them.

The woman indexed in an exemplary manner with her contract, and when she got sick, she was paid 30,000. euros.

How to take care of a financial cushion?

Renata, a financial consultant, says that she usually suggests indexing the tourism insurance contract every year, and for good reason. These stories are a real example, the real damage to the insurance payment of the customer can be done by the indexation of the contract.

“About ten years ago, my client’s insurance for these diseases was less than 20 thousand. euros. However, the woman indexed her contract in an exemplary manner every year and, when she got sick, she was paid 30,000. EUR “Allianz Lietuva” payment”, said Renata.

The financial consultant assures that sometimes clients doubt the benefits of indexing the insurance contract simply because I don’t want to pay just a few euros higher in premiums while they are healthy and it seems that there is no danger of illness. However, as the mentioned customer story shows, those few euros added to the premium can significantly increase the benefit you receive in the event of an illness.

“Allianz Lietuva” takes care of many cancer patients

According to the Benefits Department of Allianz Lietuva, the number of benefits for cancer, as well as for all critical illnesses in general, has a tendency to grow. For example, in 2022, 1.2 million was paid out to clients who have critical illness protection, and therefore have received a cancer diagnosis. euros, ie 40 percent. more than in 2020, when 757 thousand were paid out for critical illnesses. euros.

Of course, the financial consultant reminds that the amount of the benefit depends on many aspects, including: the age of the person concluding the life insurance contract, health, indexation of the contract, etc.

“However, it is obvious that a correct financial decision made in time when a serious illness strikes will only allow me to focus my head and determine what I will live on tomorrow”, – R. Mikelaitienė.

According to the data of the Bank of Lithuania, “Allianz Lietuva” paid out the most in the market to its life insurance clients during the decade – 38.6 million. euros (Lietuvos bankas, 2012-11-30 – 2022-11-30).

Allianz Lietuva’s life insurance customers’ accident benefits since the start of operations total 52 million. euros (“Allianz Lithuania” – 31/12/2022).