The latest insurer to publish claims information for 2004/2005 on critical illness, is Scottish Equitable Protect.
72% of claims were paid out, totalling over £21 million.
28% of claims didn’t pay out — 63% due to non-disclosure, with the remaining 36% not meeting policy definition or having a policy exclusion applied.
The insurer stresses the importance of getting full details of a person’s medical history when they’re applying for a policy.
Scottish Equitable Protect is part of AEGON UK, which is part of the AEGON Group, one of the world’s largest insurers
Another insurer, Prudential, recently revealed that 80% of their Critical Illness claims in 2005 were paid successfully.
Related links
News update: January 2006
