AEGON Scottish Equitable has published its critical illness claims statistics which show that the insurer paid out 91% of claims.  So that’s 9% of claims turned down.  In the previous year 18% of claims were turned down so to halve the rejects claims in a year is something to be proud of. 

If you have read other articles in this blog you will note that all of the larger insurers are returning similar results where claims are up and rejection are down.  Scottish Equitable said that 41% of claims rejected were due to non-disclosure and the remaining 59% were due to the illness not meeting the required critical illness definition.

Scottish Equitable put this successful turn-around down to working closely with advisers and IFAs to ensure a better understanding of the product.  Hopefully this trend will continue and understanding of this complex product will continue to improve which will, in turn, help people interested in this type of insurance.