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Aviva pays out 91% of CI claims

Aviva pays out 91% of CI claims

Category: Health insurance

Updated: 24/07/2017
First Published: 22/04/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Aviva has revealed that it paid out 91% of all the critical illness claims it received in 2009.

In total, the UK's largest insurer paid out 1,499 critical illness claims, amounting to £118 million, with the average amount paid out increasing to £79,000 in 2009, compared with £75,000 in 2008.

The proportion of claims declined for non-disclosure remained stable at 2%.

It brings the total amount Aviva has paid out in critical illness claims since 2007 to £343 million.

A further £151 million was paid out to the families of people who have died, or were diagnosed with a terminal illness during 2009.

"Critical illness cover remains a crucially important solution for many," said Richard Verdin, director of protection.

"With nine in ten claims being paid, it is time for providers and advisers to get back on the front foot to raise customer awareness.

"Collectively, we owe it to customers to ensure people do realise the potential need and value of life insurance before it's too late."

The figures are broadly in line with recent research from Moneyfacts.co.uk which found that insurers paid out more then nine in ten (90.5%) critical illness claims in 2009.

It also revealed that just 1.9% of claims were rejected on the grounds of non-disclosure, down from 2.5% in 2008.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
 
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