Life insurance Updated:
Bright Grey has revealed an increase in the number of critical illness claims it has paid out over the last 12 months as well as a dramatic reduction in the amount of claims it declined for non-disclosure. The protection specialist said it had turned down just 1.8% of claims as a consequence of policyholders withholding information relevant to their application, down from 12% the previous year. In total 83% of critical illness claims were paid out and 91% of life claims to an overall value of £20 million. "Non-disclosure has been an issue that has concerned the industry for a long time," said Roger Edwards, proposition director. "Our latest claims results show that we're making real progress."
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