The Critical Illness Claims Report reveals that the total Scottish Provident paid out to its Critical Illness policyholders in the first half of 2009 reached over £43 million, with an average payout of £74,207.
For the first half of this year almost £30 million was paid out for cancer claims and over £3.7 million in claims for heart attacks alone. Cancer now accounts for 62% of total claims paid in comparison to 54% for the same period in 2008. Claims paid for heart attacks, on the other hand, have marginally decreased – accounting for 10% of all claims paid in the first half of 2009 compared to 12% for the same period in 2008.
Scottish Provident’s report provides intermediaries with guidance on how they can help ensure their clients' claims will be paid promptly and efficiently. The report provides advice on non-disclosure, and the ways in which intermediaries can better help their clients to avoid it. In the first half of 2009 just 1.2% of Scottish Provident critical illness claims were declined due to non-disclosure.
Commenting, Susan Barclay, head of marketing at Scottish Provident said: "We are committed to making the application and claims process on our Critical Illness policy as clear and simple as possible, and we believe today's report, which sees our claims pay out increase by 6% to 93%, is testament to this commitment."
