07 May 2014
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Friends Life has revealed it paid 91% of all critical illness (CI) claims received during 2013.
Overall, £116 million was paid in critical illness claims by Friends Life last year - 91% of all claims made. This was an improvement on 2012 where the insurer paid 90% of claims.
The top four illnesses claimed for were cancer, heart attack, stroke and multiple sclerosis with 70% of all claims being cancer-related.
The insurer also paid £111 million in life cover claims during 2013 - 99% of all claims made, paid to the families of almost 3,500 customers. This was the same as in 2012 where Friends Life paid out 99% of all life claims.
Additionally, 85% of Income Protection claims were paid totalling £21 million with average payout of £860 per month.
This was a slight drop from 2012 where the insurer Friends Life paid out 87% of IP claims in 2012.
Customers suffering mental illness or musculoskeletal disabilities made up around half of all claims.
Chris Pollard, head of underwriting, claims and operations for Friends Life Individual Protection, said: "We are continuing to improve our handling of every claim, including finding ways to speed up the claim process and providing customers with all the support they need."
