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Scottish Provident paid out £47 million for critical illness claims

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Scottish Provident paid out  £47 million to its critical illness policyholders during the first six months of 2011. 91% of all claims made were paid.

 

The average payout was £81,434, with the largest payout just over £945,000. The average age of a claimant was 47. Just 2.6% of all claims made were rejected for reasons of non-disclosure.

 

Over the course of the year to 30 June, over £30 million was paid out for cancer claims, with these accounting for 65% of the total claims paid. Nearly £7 million was paid out for heart attack claims, with heart attacks making up 13% of all claims.

 

Jennifer Gilchrist at Scottish Provident says, "We get a great deal of satisfaction paying out claims and being able to support claimants and their families at a difficult time in their lives. 550 customers have benefited from a financial pay out when they needed it most."

Critical illness insurance news: 26 August 2011