Navigation Links
Scottish Widows Releases Critical Illness Cover Claims Figures
Date:5/29/2009

Scottish Widows paid over £28m in critical illness cover claims between November 2007 and October 2008, Only 2% of critical illness claims were declined due to non-disclosure, The three main reasons for claims - cancer, heart related and stroke

Edinburgh, UK (PRWEB) May 29, 2009 -- Scottish Widows, one of the most trusted brands in life insurance*, has today published details of its critical illness cover claims, showing that between November 2007 and October 2008 an average of £543,000 was paid out each week. This is equivalent to more than £28 million over the 12 month period.

For the third year in a row, the number of claims turned down as a result of non-disclosure has reduced, with it now down to 2% (5% the previous year).

Richard Jones, Head of Protection at Scottish Widows commented, "We're pleased to have increased the claims we've paid and to have significantly reduced the number of claims declined due to non-disclosure. This reduction in non-disclosure can be put down to a number of factors including the adoption of the Association of British Insurers Code of Conduct on non-disclosure, which has increased the number of proportionate claims that are paid. In addition to this, we've simplified application forms and processes and also produced literature to help Financial Advisers and customers understand the importance of disclosing all relevant information."

Over the course of 2008, the main three reasons for a claim were cancer, heart related and stroke. The average age for female claimants was 45, with men three years older at 48.

The average term of policy at claim is five years and cancer is still the main reason for a claim by both men and women, with breast cancer affecting 51% of female cancer claimants and testicular cancer affecting 10% of males.

Cervical (5%), ovarian (5%) and malignant melanoma (5%) were the other most claimed for cancers for females, whilst for men it was Hodgkin's/Lymphoma (9%) and lung cancer (9%).
Critical illness cover is designed to insure against the most common types of severe critical illnesses and as a result not all critical illnesses or severity of illness are covered. The number of claims declined because they weren't covered by the policy was 10%. Scottish Widows are working to reduce this figure by ensuring they are transparent about what is covered in all communications and conversations.

Richard Jones added,
"Critical Illness cover is extremely important, no matter what the economic climate, as illness can affect us at any time. At Scottish Widows, it's our aim to raise awareness of the benefits of critical illness cover. We want to play a key role in helping people take control and prepare for the unforeseen, being there to support and provide them with money when they need it most."

Scottish Widows provide a wide range of financial services including life insurance, pensions and individual savings accounts (ISAs).

###

Read the full story at http://www.prweb.com/releases/2009/05/prweb2466764.htm.


'/>"/>
Source: PRWeb
Copyright©2009 Vocus, Inc.
All rights reserved

Related medicine news :

1. Drink and drugs fuel Scottish suicide and homicide rates
2. American Airlines and Texas Scottish Rite Hospital for Children Host Annual Amputee Ski Trip
3. Cancer widows are often emotionally isolated
4. Cleveland Clinic Press Releases Journal-Writing Book Write for Life: Healing Body, Mind, and Spirit Through Journal Writing by Sheppard B. Kominars, Ph.D.
5. Leading Child Abuse Center Releases Back to School Tips to Protect Children From Internet Predators
6. JHA Releases 2007 U.S. Group Disability Mid-Year Market Survey Results
7. Verdict One Releases Directory of Board Certified Attorneys for Consumers
8. Academy releases emergency preparedness tools to enable millions more people to shelter in place
9. Provectus Pharmaceuticals, Inc. releases summary results of phase 1 metastatic melanoma study
10. MITEM Releases Blue Iris eLaborate 8.6
11. Produce for Better Health Foundation Releases Statement on Study Saying Fruit & Vegetable Consumption Not Strongly Associated With Colon Cancer Risk
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/29/2017)... ... 29, 2017 , ... The Wharton School of the University of Pennsylvania is ... made a $10 million gift to establish the Ken Moelis and Julie Taffet ... to a Wharton MBA for highly-qualified Penn undergraduates whose academic and career interests expand ...
(Date:3/28/2017)... ... 2017 , ... Tuesday, March 28, 2017, is the annual American Diabetes Association ... Test to find out if they are at risk for developing Type 2 diabetes. ... evening sky by programming the LAX pylons the color red. Downtown’s U.S. Bank Tower ...
(Date:3/28/2017)... ... March 28, 2017 , ... Resoundant, Inc., ... invited to the Siemens Healthineers annual customer education symposium, a world-class learning conference ... place from March 27 - 31, 2017 at the Atlanta Marriott Marquis in ...
(Date:3/28/2017)... ... March 28, 2017 , ... City trips ... (IBT World Travel Trends Report). As travelers visit both urban destinations, they are ... and prolonged sun exposure. In response, the outdoor industry has blurred the lines ...
(Date:3/28/2017)... ... ... Sentry Group LLC., a leader in the Personal Emergency Response System industry, introduced advanced ... These iSAFE products are the most affordable and most advanced medical alert systems on ... GPS Location and two-way calling with the push of a button on a nationwide ...
Breaking Medicine News(10 mins):
(Date:3/28/2017)... TORONTO , March 28, 2017 /PRNewswire/ - ... service medical device development firm, announced today that it ... Toronto -based medical device industrial design and productization ... companies throughout North America with ... device talent spanning the design, engineering, regulatory, and manufacturing ...
(Date:3/28/2017)... and TEL AVIV, Israel , March 28, 2017 ... Israel . This new business entity, Emosis Ltd, ... dedicated to research and development of novel assays complementing the mother ... when relevant, locally support commercialization and sales development of Emosis kits. ... This strategic move ...
(Date:3/28/2017)... Mass. , March 28, 2017 ... company developing innovative therapeutics that address significant unmet ... a patent from the Japan Patent Office (JPO) ... connective tissue growth factor (CTGF) for the treatment ... limited to skin fibrosis and proliferative retinopathy (Japanese ...
Breaking Medicine Technology: