AIG Life paid a total of £69 million in claims for life and critical illness insurance during 2016 to 1000 families and businesses.
The figures represent an increase of over 49% on 2015 and show that 95% of life claims and 92.3% of critical illness claims were paid. The average size of claim paid was £75,493 and the average age of claimant was 54. The most common cause of death was cancer (42%). Life claims AIG Life paid out 95% of life insurance claims in 2016 totalling £46 million - more than double the £19 million it paid in 2015. Critical illness claims The average age of a critical illness (CI) claimant was 46 years old and the largest claim paid was £1.5 million. The "key three" conditions...
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