Scottish Equitable Protect has revealed that it declined nearly one in three of its critical illness...
Scottish Equitable Protect has revealed that it declined nearly one in three of its critical illness (CI) claims between January 2001 and September 2005.
While the Edinburgh-based insurer paid out 315 claims, totalling over £21m, it admitted that it refused to pay 28% of 438 claims that were made.
Some 63% were declined due to non-disclosure while 36% were rejected because they did not meet the policy definition or had a policy exclusion applied.
Rod McKie, head of marketing at Scottish Equitable Protect, said: "We'd like to highlight the importance of getting full details of a client's medical history when they're applying for a policy.
"By disclosing our data, we can give financial advisers the tools to explain the importance of full disclosure and help their clients understand the cover they're buying and when a claim will be paid."
