Critical illness cover claims from Aviva

Critical illness cover claims from Aviva
CI figures clearly show the value in having protection in place
Richard Verdin, protection director at Aviva
This amounted to 94.7% of all critical illness claims, an increase of almost 4% since 2009.
The average payment was more than £89,000, an increase of £10,000 compared to 2009 (£79,000).

In addition to CI claims, the company also paid out a further £272 million in life insurance to the families of loved ones who have died. This amounts to more than £400 million paid to customers and their families through Aviva's life insurance and critical illness policies in 2010.

The proportion of CI claims paid is Aviva's highest to date and the largest monetary value. The company said this is a result of its commitment to paying claims and driving down non-disclosure through education of customers and advisers about exactly what is covered by its critical illness policy.

Cancer remained the most common cause of critical illness claims at 68%, followed by heart attack (9%), stroke (7%) and multiple sclerosis (6%).

Richard Verdin, protection director at Aviva, said: "As we've seen previously, the most common six conditions account for more than 94% of critical illness claims. This has been constant for the last five years across the industry, so we are confident that we are offering the right level of cover and affordability to benefit our customers.

"As our recent marketing campaign has demonstrated, we are absolutely dedicated to ensuring families are adequately protected. Our latest CI figures clearly show the value in having protection in place, and we are proud to have been able to make a difference to these customers at such a difficult time.

"We have made great strides in our critical illness payment record in recent years and we are very pleased that our latest figures reflect our commitment to our customers. By ensuring financial support is in place, we can give people the peace of mind to concentrate on more important things at a time of great need."

Next Article: ABI aims to improve understanding of critical illness cover

Previous Article: Families not protected should worst happen

Comment on this article

Post to

Save money with free newsletters
Sign up for Moneymaker - our free weekly
e-newsletter - today. It could save you
as much as £4,000 a year.

Enter your email:
Subscribe UnSubscribe   
 
 
 


Trade Carbon Credits
Invest in Brazilian Rainforest

Get your FREE guide here