Legal and General latest statistics show cancer claims still the number one reason for critical illness claims during 2011
Legal and General has published today, 28th March 2013, their latest critical illness payout figures for 2012, which shows the insurer has paid a total of £441million in claims. The total paid out includes combined death and critical illness claims in 2011, up from £373 million in 2010.
Legal and General paid 93.2% of critical illness claims during 2011. The insurer paid a total of 2,784 critical illness claims, averaging £63,573 per claim. The latest figures show that the average age of a policyholder was 43 and cancer remains the number one reason for a critical illness claim.
Russell Whitworth, Underwriting and Claims Director for Legal & General’s Individual Protection business said: “Our key focus is to help people when they are at their most vulnerable and I am very proud of these figures. We are in the business of paying claims and we want to make sure we pay as many claims as possible, as quickly as possible to give our customers the best possible service at what is a very difficult time.
“We continue to work hard to reduce non disclosure and less than 3% of claims in 2011 were repudiated purely for medical non-disclosure. Less than 5% of claims did not meet the definition as set out by the ABI Best Practice for Critical Illness, to which Legal & General adheres. These figures highlight the importance of critical illness cover for everyone.”