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. ...
Zurich has launched a 'selfie' app called FaceQuote which estimates how much life cover someone might need.
The official supplement of this year's COVER Excellence Awards is available to read now as an eBook.
Child cover within critical illness plans has assumed a far greater importance in recent years, writes CIExpert's Alan Lakey.
Holloway Friendly has widened its new online underwriting process allowing protection advisers to write both full and short term income protection business in minutes.