In 2008 Friends Provident paid out £36 million on critical illness claims.
Of the 691 claims received, 87.3% were paid and 12.7% were declined. The percentage of claims declined due to non-disclosure fell by nearly 40% to 4%. 8.7% of claims were declined due to the definition not being met.
Over half of claims paid were for cancer
The average critical illness payout was over £59,000
The largest claim paid in 2008 was £0.5 million
The average age of a claimant was 44 years
The average length a policy was in force for all claims received was 4.5 years
The youngest claimant was aged 21, the claim was for cancer and the payment was £66,000
Breakdown of main causes of claims:
Critical illness insurance: News update: 25/02/2009