Life & Critical Illness Blog

70% Of People Think They Are Getting Advice?

According to a recent article by the Guardian newspaper 70% of people buying Critical Illness Cover believe that they are getting advice when buying direct from insurers either over the phone or online.  The FSA is worried about this statistic but so too should the insurance industry.  It’s taken a long time for Critical Illness Insurance [...]

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Does Critical Illness Cover Have A Place In Business Protection Insurance?

Many business owners are not aware that business protection exists so far as shareholder protection, partnership protection, and keyman insurance are concerned.  It is often the case that once the business understands how these products can help the business survive through the worst times , it tends to make sense.  First of all people tend [...]

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Cancer Insurance Instead Of Critical Illness Insurance

Critical Illness cover has always been a complex product to the UK market.  The ABI offers a standard definition list which  most of the critical illness insurance providers subscribe to but then these providers can also offer their own definitions and illnesses in addition to the ABI list too.  This is what leads to confusion in [...]

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Scottish Provident Pays Out £114 million in Critical Illness Claims

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 [...]

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When NOT To Buy Critical Illness Cover

There are plenty of sites on the internet recommending critical illness cover but is there an instance when critical illness cover is not worth having?  This depends on your own personal circumstances and views. When Cancer Research state that everyone has a 1 in 3 chance of being diagnosed with some form of cancer at some [...]

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Scottish Equitable Pays Out 91% Of Critical Illness Claims

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 [...]

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