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Legal & General: 88% critical illness claims paid out
Thursday, 06 Mar 2008 16:58
Legal & General last year paid out in almost nine out of ten claims for critical illness cover.
The insurer revealed 2007 saw 88.2 per cent of critical illness claims were met – up from 83.3 per cent in 2006.
Claims were worth a total of £110 million – with the average payout standing at £60,000.
Some 7.7 per cent of claims were declined for non-disclosure – down from 12.1 per cent past year.
Bernie Hickman, managing director of protection at Legal & General, said: "This is further evidence of our progress in bringing down the level of declined claims.
"Customers should have every confidence insurers will treat them fairly when they make a claim. We are in the business of paying out much needed money when customers need it most."
Legal & General also paid out £179 million in life insurance claims in 2007 – some 96.3 per cent of claims received.