Scottish Widows has published its protection claim statistics for 2017, which show it paid out 98.99% of life claims and 93.03% of critical illness cover claims last year - more than £204m in total.
According to the ABI, the industry paid claim averages for life and critical illness cover were 98% and 92.2% respectively in 2017. The number of claims for life cover last year was 7,469 and 1,769 for critical illness cover, equating to a total of 9,238 individuals and their families being supported in the event of critical illness or death. The total amount for paid life claims was £129.4m, with £13.46m paid in terminal illness claims, while 55% of all claims from women were as a result of cancer, compared to 44% of men. The average policy duration at claim was 10 years and the...
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