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Latest claims statistics for critical illness

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Standard Life has published its critical illness claims history.

 

Despite a higher than average payout rate, 33% more claims were declined in 2007 than in 2006.

 

Overall claims increased by 16%.

 

7% of claims were turned down in 2007 for not meeting definitions, compared to 3.3% in 2006.

 

3% of claims were turned down in 2007 for non-disclosure, compared to 4.6% in 2006.

 

John Quinn, said: “We always encourage customers to make a claim, even if they are unsure whether they are eligible.”

 

Critical illness insurance: News update: June 2008

 

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