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Aegon paid 93pc protection claims

Ryan Fowler

March 10, 2014

Some £342,100 was paid to 27 customers in income protection claims in 2013.

Two claims were declined, one due to not meeting the definition and another for misrepresentation.

Dougy Grant, protection director at Aegon UK, said: “The low number of claims we continue to receive on this type of protection policy can impact the figures dramatically.

“With only 29 claims received last year, a single decline can make all the difference, so while this year we see an increase in the number of claims paid, it will only take one declined claim next year to completely change our story.”

Cancer was the top reason to claim, at 28%, while musculoskeletal related conditions were 21%.

Income protection sales represented less than 2% of Aegon UK’s overall protection sales in 2013.


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