Critical illness insurance payments increasing

Thu, 03 Jul 2008

According to recent reports, the total number of critical illness payments made by major insurance company Norwich Union increased by 4.7 per cent. The percentage of non-disclosure declines fell to just over 4 per cent following initiatives to lower non-disclosure levels.

Norwich Union said that they had paid out over £106 million to policyholders looking to claim on critical illness insurance policies . Alongside income protection insurance and life insurance, CIC cover secures the policyholder in the event of crisis.

Norwich Union paid out a total of 1,387 claims, with the average payout standing at a little over £77,000. The top five claims were relating to cancer, heart attack, MS, stroke and total permanent disability.

The head of protection products at Norwich Union, Darren Dicks, reportedly commented: "In the UK a quarter of the population will be diagnosed with a critical illness between the ages of 30 and 60. Critical illness policies help people to ease the financial burden at a time when they perhaps need it most, when faced with the prospect of not being able to work or to care for themselves."
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

 

newsnews rss
Life Insurance news
Life insurance health rewards - Thu, 20 Nov 2008
Life insurance downturn due to credit crunch - Tue, 18 Nov 2008
New premiums for life insurance policies - Mon, 17 Nov 2008
More News

LV 50 Plus Plan

The LV 50 Plus Life Insurance Plan from Liverpool Victoria is cover for people over the age of 50.
Click here to apply

Mortgages

Would you like to save money on your mortgage? YES! Fill out our Quick Enquiry Form