Claims Statistics ... Aviva publishes its 2013 statistics The 2013 protection claims statistics have added to Aviva’s consistently good track record of paying claims. Aviva protection customers and their families received more than £505 million through claims on life insurance and critical illness policies. This figure is the highest to date and shows a steady year on year increase. This equates to nearly £1.4 million per day, or about £961 a minute and includes £347 million paid to the families of life insurance customers who had died or been diagnosed with a terminal illness, an increase of 61% over the past five years. Over £158 million was paid to customers with critical illness cover. 13,600 life and critical illness claims paid in 2013 (11,441 life insurance claims and 2,171 CI claims). 92.9% critical illness claims paid. Of these, only 1.2% were declined due to misrepresentation (non disclosure), and 5.9% for conditions not met. 99.3% life claims paid. This data was compiled using ABI industry guidelines for calculating claims statistics, which have been introduced for the first time this year and provides Aviva customers with the certainty that industry statistics have been calculated in a consistent way. *source PTFS Personal View Newsletter 25/04/2014
Posted on: Mon, 28 Apr 2014 12:00:01 +0000
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