Friends Life paid 90% 0f 2011 CI claims

clock

Friends Life paid 90% of claims under its critical illness plans last year., 1,565 claims admitted and processed out of 1,733.

The total amount of claims paid was in excess of £89.5million and the largest pay out of £1.1m was for prostate cancer.

Only 6% of claims were declined for not meeting the definition and 4% were turned down due to non disclosure.

Steve Casey, Head of Marketing & Intermediary proposition development at friends Life, commented: "The wide range of conditions that our customers continue to claim for demonstrates that not all critical illness covers are the same.

"It is important that people ensure that they have the right cover in place and that advisers work hard to match their clients to relevant and appropriate policies for their needs."

Claims were received for conditions including Alzheimer's disease, major organ transplantation, insulin dependent diabetes (over age 40) and coma as well as cancer, heart attack, stroke and multiple sclerosis.

The average age of male claimants in 2011 was 45, with the average age for females being 43.

 

More on Insurer

LV= posts profitable protection business

LV= posts profitable protection business

50% increase in protection profits

Cameron Roberts
clock 25 March 2024 • 1 min read
DeadHappy closes doors to new life insurance customers

DeadHappy closes doors to new life insurance customers

Existing policies are protected

Jaskeet Briah
clock 18 March 2024 • 2 min read
EDI has a positive impact on business: CII

EDI has a positive impact on business: CII

Improving representation has the most impact

Cameron Roberts
clock 13 March 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read