Aviva paid more than £439 million to life and critical
illness customers in 2011, equating to more than £1.2 million a day.
This includes £320 million paid to the families of life
insurance customers who have died or been diagnosed with a terminal illness,
and nearly £114 million paid to customers with critical illness cover.
During 2011 it made payments for 10,495 life insurance
claims and 1568 critical illness claims.
The insurer paid 99.7% of life insurance claims, and 94.1%
of critical illness claims. 0.3% of life insurance claims, and 1% of critical
illness claims were declines due to non-disclosure.
The average sum paid to critical illness customers was
The average age of critical illness customers was 44 years
for women and 46 years for men.
Cancer remains the most
common cause of critical illness claims at 67%, followed by heart attack (10%),
stroke (7%), multiple sclerosis (6%) and benign brain tumour (2%). Over the
last five years the same top five conditions have accounted for more than 92%
of critical illness claims paid overall.
Life insurance news: 23 March 2012