Scot Prov pays 91% of CI claims

Scottish Provident paid 91% of critical illness (CI) claims during the first half of the year.

The provider said this totaled £47m with 2.6% of claims declined due to non-disclosure and the remaining 6.4% through not meeting the claim definition.

The average payment was £81,434, with the largest just over £945,000, while the average age of a claimant was 47 years old.

Over the course of the year to 30 June, over £30m was paid out for cancer claims, with these accounting for 65% of the total claims paid.

Nearly £7m was paid out for heart attack claims, with these making up 13% of all claims.

Royal London, parent company of Scottish Provident and stablemate Bright Grey, recently admitted it had suffered service problems at Scottish Provident.

This followed notice that protection new business was down 17% at the pair.

Earlier this month, Bright Grey, reported a claims paid rate of 90%.

Jennifer Gilchrist, senior product development manager at Scottish Provident, said: "We get a great deal of satisfaction paying out claims and being able to support claimants and their families at a difficult time in their lives.

"Putting in place a financial safety net has meant that over 550 customers have benefited from a financial pay out when they needed it most."