£35m paid in claims by Bright Grey since launch.
85% of life claims paid in the last 12 months.
82% of critical illness claims paid in the last 12 months.
Following its fifth anniversary, Bright Grey is publishing its first set of claims statistics for life and critical illness.
Since launch, Bright Grey has paid over £20m in life cover and over £14m in critical illness cover. The largest critical illness claim the company has paid was £260,000 and the largest life insurance claim paid was £1.65m.
The average size of critical illness claims paid in the last 12 months was £77,000. It also paid out £98,000 on Children's Critical Illness Cover, which is automatically included in Critical Illness Cover plans.
The average age of critical illness claimants is 43 for men and 40 for women. The vast majority (42%) of critical illness claims were made due to cancer. In addition to financial pay outs, over 86% of Bright Grey's plan owners and their families who made a claim in the last 12 months used its Helping Hand service. With the help of RED ARC, they have benefited from case management by a fully qualified nurse, home visits, counselling and a range of complementary therapies to help them manage their situation and reach their fullest potential. This help is automatically included in all Bright Grey plans at no extra cost.
Critical illness insurance: News update: April 2008