AEGON UK today announced that it paid 93 per cent of all individual protection critical illness (CI) claims in 2011
Today’s latest statistics are an improvement from 2010, up from 91 per cent. Of the claims declined, 81 per cent were due to the definition of the critical illness not being met and 19 per cent were due to non-disclosure of important information.
In total, AEGON UK paid out £28 million in critical illness claims in 2011, a five per cent increase on what was paid in 2010, with an average payout of £82,567. The average age of a claimant was 46, and the average time a policy is in force before a claim is made is four years and nine months.
Cancer remains the most common reason for making a claim accounting for 66 per cent of CI claims, up from 61 per cent in 2010.
Matt Rann, Head of Underwriting and Claims, says: ‘We’re committed to paying out as many valid claims as possible – and to make the process of claiming as quick and easy as possible for our customers. Our tele-claims service has proved to be very popular in this respect.
‘A simple phone call can make life easier for the claimant and enables our claims assessors to discuss and explain things like policy definitions and any disclosure queries in a friendly manner. This service has enabled us to play a bigger part in improving our customers’ claims experience and make sure they get all the support they need – at the time when they need it most.’