60% of Female critical illness claims point to Cancer

- Over a third of all claims made by customers under 45 years

Latest update on Bank of Ireland Life's critical illness claim information: January - December 2005.

Highlights:

Commenting on the announcement of the critical illness statistics Noel Finnegan, Head of Underwriting, Bank of Ireland Life said, "It is worrying to see how relatively young many of our incidents of critical illness claims were in the last year. Especially when our latest research shows that just one-quarter of those aged 25 and over, have any financial protection against critical illness."

A recent report by the National Cancer Registry (June 2005) predicts that cancer numbers will almost double from 22,000 a year to 43,000 in the next 15 years. However, Cancer survival has greatly improved in latter years, and more patients of Heart related illnesses are also surviving thanks to significant medical advances. Critical illness cover can be of huge benefit to these survivors.

The highest claim amount paid out in 2005 was for a sum of €450,000, Noel Finnegan commented, "Our customers tell us how the lump sum payout from their critical illness policy really helped them and their families to re-build their lives. Many people who suffer a critical illness cannot work for a time or in some cases may have to give up work. The cash from their policy claim can help to ease their own and their families financial worries by helping to pay for specialist treatment, pay off their mortgage, pay for any adjustments to the home, or simply cover the household bills that continue to come in."

The cost of critical illness cover can often be a factor as to why people tend to put it on the long finger. But Bank of Ireland Life points out that the earlier a policy is taken out the cheaper it will potentially cost in the long-term. This is because people are considered healthier in their youth. In fact, Bank of Ireland Life suggests that the ideal time to take out critical illness cover is in your twenties, other key times include when you buy your first home, get married, or have a baby.

Noel Finnegan added "The key factors determining the approval and cost of critical illness cover are the age, sex, and health of the customer. If the customer has a history of health problems, they may have to pay a higher premium or undergo further medical assessment to receive the cover. Some customers with a history of significant health problems may not qualify for cover, as the risk is too high."

The facts remain however, that many of us will contract a critical illness during the course of our lives, and survive. Critical illness cover can help to alleviate some of the financial hardship during the recovery of such an illness.

Noel Finnegan concludes, "It is better to be prepared for the unexpected. While none of us like to think about it, a critical illness can strike at any time, afterall over one in three of our claims in the last year were made by those under the age of 45. Family protection should be second nature to us all, we have all invested in home security, why shouldn't we invest and protect ourselves and our family's future."

*Bank of Ireland Life Market Research, January 2004

ENDS

Contact:

Sharon McDonnell
Group Consumer Communications Manager
Bank of Ireland
Tel:01 604 3750
Mob:087 226 9324

Laura Erskine
Public Relations Manager
Bank of Ireland Life
Tel:01 6172586
Mob:086 8562929

Notes to Editors:

*Level cover quotations, as at 27th June 2006. Terms and conditions apply.

Illnesses covered by our critical illness policy:

Some life cover and critical illness policies allow you to include additional benefits to your policy such as: (subject to terms & conditions)

Bank of Ireland Life is a trading name of New Ireland Assurance Company plc. Bank of Ireland is a tied agent of New Ireland Assurance Company plc. New Ireland Assurance Company plc trading as Bank of Ireland Life is regulated by the Financial Regulator. Member of Bank of Ireland Group. Bank of Ireland is regulated by the Financial Regulator.