Aegon UK pays 97% of critical illness claims

Aegon paid out £33m for critical illness claims in 2015, which represented an increase in the claims paid rate from 93% in 2014 to 97% in 2015. The average size of claim paid was £80,000 with the highest claim of £500,000 being paid out to three claims for prostate, ovarian and kidney cancer. Overall 0.5% of claims were declined because of misrepresentation and 2.5% claims were declined for not meeting the definition. The top three reasons for claiming remained the same with over eight out of ten claims for cancer, heart attack or stroke. Cancer accounted for 65% of all claims. ...