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Critical illness insurance figures released by Scottish Widows

Thu, 28 May 2009

Insurance company Scottish Widows has published new details of their critical illness cover claims . Each week, the company said, an average of £543,000 was paid out, over £28 million between November 2007 and October 2008. Claims rejected due to non-disclosure were reduced, down to 2 per cent .

Scottish Widows expert Richard Jones reportedly commented: "We are pleased to have increased the claims we have paid and to have significantly reduced the number of claims declined due to non-disclosure. Critical Illness cover is extremely important as illness can affect us at any time. Our aim is to raise awareness of the benefits of critical illness cover . We want to play a key role in helping people take control and prepare for the unforeseen, being there to support and provide them with money when they need it most."

Cancer was found to be the main reason for a claim. Critical illness insurance is a protection policy to insure against severe illnesses. Not all illness are covered, leading to some policies being declined.
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