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Health Insurance Latest News...


97% of all individual protection claims paid in 2013

Wednesday, May 28, 2014

The insurance industry paid 97% of all the individual protection claims it received in 2013, figures from the Association of British Industry (ABI) show.
Some 91.1% of individual income protection (IP) claims were paid, with an average pay-out of £11,500 for 230 weeks.

The percentage of individual critical illness (CI) claims paid rose to 91.8% from 80% in 2005. The average pay-out was £60,400.
The average pay-out on a term life insurance policy was £51,500 with 98.4% of cla ...

Category: Health Insurance

Life and critical illness claims stats published by Scottish Widows

Monday, May 26, 2014

Scottish Widows paid 90% of critical illness (CI) claims and 99% of life claims in 2013.
The percentage of CI claims declined due to non-disclosure was 2.5% and claims where the definition was not met was 7.5%.
The main three reasons for making a CI claim were cancer (66%), heart-related illness (15%) and stroke (7%).
Among males, 51% of claims made were for cancer, 28% for a heart-related illness and 8% for stroke.
Meanwhile, 81% of claims among females were for cancer, 6% for s ...

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Category: Health Insurance

UK protection sales for Aviva up by 17%

Tuesday, May 20, 2014

The insurance industry paid 97% of all the individual protection claims it received in 2013, figures from the Association of British Industry (ABI) show.
Some 91.1% of individual income protection (IP) claims were paid, with an average pay-out of £11,500 for 230 weeks.

The percentage of individual critical illness (CI) claims paid rose to 91.8% from 80% in 2005. The average pay-out was £60,400.
The average pay-out on a term life insurance policy was £51,500 with 98.4% of cla ...

READ MORE
Category: Health Insurance

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* The Costs detailed are based on a man or woman in good health, aged 19 on their next birthday. These details are correct as of September 2010


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