Standard Life Insurance analyses critical illness claims

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Standard Life Insurance analyses critical illness claims

Wed 28th Jun 2006

Standard Life Insurance has announced the results of its analysis into the number of critical illness claims and the amounts that were claimed.

The research found that the average claim made to Norwich Union Insurance in 2005 was £57,800 and the company paid out a total of £19.8 million on 342 claims.

In 2004, 80 per cent of all critical illness claims were paid out and the latest figures showed that in 2005, 82 per cent of all claims were paid, leaving only 18 per cent of claims unpaid.

Trevor Matthews, chief executive of life and pensions for Standard Life Insurance in the UK and Europe, said: "We have seen a small but positive shift in the number of claims we paid out on last year and I hope the numbers provide reassurance that we do not arbitrarily decline claims without reason."

Standard Life Insurance offer a range of products including life insurance and home and contents insurance.

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