Scottish Widows has published its protection claims statistics which show that it paid out 99.38% of life claims in 2016, an increase of 0.5% compared with 2015, and 93.2% of critical illness claims, an increase of 2.7%.
The insurer has published the claims based on the new methodology set out by the Association of British Insurers (ABI) last week. The claims stats for life and critical illness are above the industry averages announced by the ABI. Of the declined life claims, 0.49% were due to mis-representation and 0.13% due to the definition of terminal illness not being met. Out of the declined critical illness claims, 1.8% were due to the definition not being met and 5% were due to mis-representation. ...
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