Legal & General release death and critical illness claims figures for 2010
Over £1.6billion paid to customers over the last five years.
Legal & General has paid more claims than ever before, a total of £373million combined death and critical illness claims, which is a figure that has increased every year since 2006.
Legal & General has paid more claims than ever before, a total of £373million combined death and critical illness claims, which is a figure that has increased every year since 2006.
Over the last five years Legal & General has:
These figures highlight the potential importance of critical illness cover for everyone. It is estimated that around one in ten of all cancer cases are adults aged 25-49 years*.
Russell Whitworth, Underwriting & Claims Director at Legal & General said: "Our key focus is to help people in their hour of need and I am proud of these figures; they demonstrate how we have helped nearly 33,000 people, over the last five years, making their lives easier at an extremely difficult time.
We are in the business of paying claims and as an industry we have worked hard over the last decade to reduce non- disclosure. We continue to strive to improve understanding about this issue with customers.
Less than 2% of claims in 2010 were repudiated purely for medical non-disclosure. It is essential we continue to do everything we can to ensure customers understand what they are covered for under the terms of their policy so that we are able to pay as many claims as possible.
An ABI statement of Best Practice for Critical Illness sets out the model wording for all critical illnessess and we adhere to this best practice. This has been reviewed as recently as 21 February with a new 24th definition and we work closely with the ABI and advisers to ensure customers understand what they are buying".
|
