April 4th, 2008 Posted in News
Legal and General one of the UK’s leading protection insurers has recently released their claim figures for critical illness insurance over the 2007 year. L&G say they paid out £110 million in critical illness insurance claims over the year. The L&G figures show evidence that progress is being made in bringing down the level of declined claims, which is good news for both the insurer and the customer L&G report that in 2007 they paid 88.2% of claims submitted (up from 83.3%) they declined for non-disclosure 7.7% of claims (down from 12.1%) the average claim paid was for £60,000 and the critical illness insurance claims were primarily for cancer, terminal illness, heart attack, stroke and Multiple Sclerosis.L&G said they also paid out £179 million on life insurance claims, this represented 96.3% of claims received.
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