AEGON UK paid 93 per cent of all individual
protection critical illness (CI) claims in 2011, 2% higher than in
2010.
Of the claims declined, AEGON UK said 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.
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In total, AEGON UK paid out £28 million in critical illness
claims in 2011, 5% more than what was paid in 2010, with an average
payout of £82,567.
The provider said 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, according to AEGON UK.
Matt Rann, head of underwriting and claims at AEGON UK said:
“‘We are 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.”
