Aviva paid £62 million to its critical illness customers during the first six months of 2011, a 21% hike on the same period last year. In total, 755 people received CI payments between January and June 2011, averaging £81,000 each.
During the first six months of the year 92.5% of critical illness claims were paid, bringing the last 12 months' claims paid percentage to 94.3%. Significantly, the number of CI claims rejected for reasons of ‘non-disclosure' during the January-June period fell to just 1.46%.
Other key statistics for the first six months of 2011 include:
- £150 million was paid through life insurance claims.
- Aviva paid 99.7% of claims resulting from death, a figure understood to be unsurpassed within the industry.
- The average age of CI claimants was 44 years and two months for females and 45 years and three months for males.
- Critical illness claims declined for criteria not met accounted for 6% of claims.
- Cancer remains the most common cause of critical illness claims at 65.9%, followed by heart attack (11.3%) and stroke (7.9%).
Robert Morrison, chief underwriter for Aviva said:
"At Aviva we believe it is crucial we pay every claim we can.
"While unfortunately across the industry there are a small number of claims insurers are unable to pay - for example when they do not meet policy criteria or if there is a clear case of deliberate non-disclosure - these latest figures should help to reassure customers that we are there to help them when it matters most.
"We would like to see critical illness claims figures rise even higher across the industry and at Aviva we are constantly reviewing how we work with our customers and advisers to assist them from the point of purchase.
"This way they can be confident that should the unexpected happen and they need to make a claim, we can help provide the financial support they require so they can concentrate on more important matters."
