Old Mutual Wealth paid 100% of life claims (again)

For the eighth year in a row, wealth management firm Old Mutual Wealth has published claims data showing that all life insurance claims were paid out over the space of 12 months. Meanwhile, 94.6% of all CIC claims were paid in 2017 totalling up to £60.3m in life and critical illness payments during the space of the year, and the average claims size was £152,704 for life and £165,748 for critical illness. Over 78.5% of CIC claims were made for top three claims - cancer (55.8%), stroke (12.3%) and heart attack (10.4%). The average age of claimants was 74 for women and 69 for men. ...