Citadele Life Makes Study on Accident Insurance
OREANDA-NEWS. July 01, 2014. More than 10,000 people in Latvia suffer injuries each year, particularly among young men and older women. No one is protected against injuries, and it is important to take care of one’s own health and that of one’s relatives so that treatment of injuries is financially available. Nearly one-third of Latvia’s residents are prepared to spend between EUR 2.51 and EUR 5.00 a month on accident insurance, the life insurance subsidiary of Citadele Bank, AAS Citadele Life, has found in a new study.
The 10,000 and more injuries that are registered in Latvia each year are mostly based on audacity, carelessness or accidents. Injuries are suffered by people in all age groups, but particularly among younger men and elderly women. Children also suffer many injuries each year, the Disease Prevention and Control Centre (SPKC) reports.
People cannot always avoid injuries, but it is important to be cautious and to take care of one’s health and finances so as to receive treatment if an injury is suffered. Most responsible in this regard are people between 30 and 50 years of age, who regularly take out life and accident insurance. This is less common for children and older people.
Citadele Life board chairwoman Jolanta Jerane: “Children continue to face the highest risk of accidents, because they do not know how to protect themselves very well. Young men, in turn, overrate their capabilities and suffer injuries during extremes sports. No one is protected against accidents, and so we must take care of our own health and that of our families by watching and insuring our children, also making sure that our parents and grandparents are preventively protected and insured.”
Data from the SPKC indicate that the most common injuries as broken bones, contusions, open scars and brain damage. 60% of life insurance compensation from Citadele Life in 2013 related to everyday injuries, while 23% of compensation related to injuries suffered during athletic activities. Quite a lot of compensation was paid for injuries suffered at work.
Generally speaking, people are increasingly choosing to take out accident insurance. At this time, 40% of the country’s residents are positive about this and see it as a way to protect themselves financially, Citadele Life has found. 21% of respondents in the relevant study said that they already have insurance, and 19% said that they plan to do so. Men are prepared to insure themselves for higher sums than women are – 29% of men and 20% of women would be prepared to insure their health for more than EUR 10,000. The average sum of insurance is EUR 11,000.
The Citadele study shows that 29% of respondents are prepared to spend between EUR 2.51 and EUR 5.00 a month to protect their finances in terms of receiving compensation for time off from work because of injuries and for treatment. 21% are prepared to spend between EUR 5.10 and EUR 10.00. Citadele Life offers insurance beginning at a price of EUR 2.50 per month. Many people choose to spend EUR 5 a month, which means that insurance related to injuries and broken bones amounts to EUR 5,000, while insurance related to long-lasting handicap or death amounts to EUR 10,000, says Jerane.
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