Advertisement

£92 million paid in critical illness claims

Legal & General, the UK’s leading critical illness insurer, paid £92.1 million in critical illness claims last year - 11% more than 2005.

Rejection rates for critical illness claims are 19% lower, while claims declined for non-disclosure fell by 15% and claims declined for not meeting the policy definitions fell by 27%.

Russell Whitworth, Legal & General’s Claims and Underwriting Director says: “We didn’t go into the business of critical illness to reject claims and so our latest experience is good for customers and good for the industry as a whole. It shows that people can have confidence in critical illness cover. Our claims figures demonstrate that the time and effort that we have invested in our underwriting systems to reduce non-disclosure and improve the clarity of policy definitions is paying off.”

Legal & General attributes the rise in payments partly to innovations such as tele-medical interviewing, where underwriters or nurses speak to customers over the phone regarding their medical history.

Legal & General aims to get customers who apply for critical illness cover ‘on risk’ as soon as possible. 55% of lives are accepted immediately at point of sale and almost 70% are accepted within two working days.

 

Comment on this page »

Features

Latest news

Chelsea and Westminster named the best place to work in the NHS for 2015

Nuffield Health opens doors of new Cambridge Hospital

Nuffield Health plans to open state-of-the-art diagnostic suite

£92 million paid in critical illness claims
Advertisement
Advertisement
Connect with us on:

This site compiles with the HONcode standard for trustworthy health information