Scottish Provident has proudly published its claims statistics for January through to December 2008. Claims payouts are 20% higher than the previous year according to Scottish Provident. Here are some of the published figures:-
- Total number of claims paid – 1514
- Total percentage of claims paid – 86.7%
- Average payout – £75750
- Largest claim – £552487
- Average age of claimant – 44
- Average months in force before claim – 73
- Cancer accounted for 60% of claims
- Childrens cover was the fifth highest claim category with 65 claims
Of course there were unpaid claims too as with all other insurers. These were a combination of non-disclosure and the claim not meeting the critical illness definition. 180 cases (10.3%) did not meet the required definition in order to make the claim whilst 53 cases (3%) were declined due to non-disclosure.
Wed, Apr 8, 2009
critical illness cover