Standard Life reveals CI claims stats

The firm’s full year review of CI claims for 2005 reveals the average claim value last year was £57,800. Further findings reveal 82% of CI claims were paid in 2005 compared to 80% at the last full year review, while 18% of claims were rejected. Of the declined claims, 10% were declined because the claim did not meet policy definitions and 8% were declined because of non-disclosure. During 2005 26 declined claims were referred to the Financial Ombudsman Service (Fos) where 21 were upheld in favour of Standard Life, none were upheld in favour of the customer, four are awaiting adjudicat...