Half of all group income protection (GIP) claims are for conditions where definitive medical evidence is difficult or even impossible to obtain, Canada Life has said.
In addition, the number of claims reported has risen dramatically over past years. There was a 40% increase between 2008 and 2010 and claims reported for the year to date suggest this figure will continue to increase. The group insurer said that, over the last year, 31% of claims made were for mental health issues and a further 20% for musculoskeletal conditions. These conditions have consistently been the two most significant causes of claims for the last seven years. Canada Life attributes this to the economic climate creating stressful working environments and putting more pr...
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