Article date: 19 March 2012
Aviva paid more than £439 million to its protection customers in 2011 (life insurance and critical illness cover), equating to more than £1.2 million pounds a day, or £836 per minute. This includes £320 million paid to the families of life insurance customers who have died or been diagnosed with a terminal illness, and nearly £114 million paid to customers with critical illness (CI) cover.
Figures released today reveal that during 2011 Aviva made payments for 10,495 life insurance claims and 1,568 CI claims. In total the insurer paid 99% of all protection claims (life insurance and critical illness cover). This breaks down as 99.7% of life insurance claims, and 94.1% of critical illness claims.
Overall 0.4% of protection claims (life and critical illness) were declined due to non-disclosure. This breaks down as 0.3% of life insurance claims, and 1% of critical illness claims.
Key statistics for 2011 include:
- The average sum paid to critical illness customers was £73,591.
- The average age of critical illness customers was 44 years for women and 46 years for men.
- Cancer remains the most common cause of critical illness claims at 67%, followed by heart attack (10%), stroke (7%), multiple sclerosis (6%) and benign brain tumour (2%).
- Over the last five years the same top five conditions have accounted for more than 92% of Aviva’s critical illness claims paid overall.
- In October 2011, Aviva introduced partial payments for new CI customers for two early forms of cancer: low grade prostate cancer and ductal carcinoma in situ, an early form of breast cancer. For these conditions, claimants will receive a lump sum of up to £20,000*.
Robert Morrison, chief underwriter for Aviva says: “Aviva is a company that wants to pay claims and our latest figures clearly reflect this. We know all too well how financial security can make a huge difference at a distressing time, so we make it our business to pay as many claims as we possibly can. This means there’s one thing less for our customers to worry about when there are so many other things to consider.”
“We’re extremely proud of our claims record at Aviva. We are constantly working to make our customer journey as simple and straightforward as possible. We’re striving to ensure that whether they’re taking out cover or making a claim, our customers have exactly the experience they would want at that time.”
- All customers with an Aviva critical illness policy benefit from up to £20,000 of children's critical illness cover for their children. In 2011 Aviva paid out 60 child critical illness claims.
- During 2011 Aviva paid out £439,633,646 to people claiming through life insurance and critical illness cover. This includes:
- Child critical illness claims: £681,897
- Terminal illness claims: £47,686,251
*Claimants will receive 20% of their sum insured up to a maximum of £20,000. The partial payment enhancements cover the following conditions:
- Ductal carcinoma in situ: A diagnosis of this early form of breast cancer always requires surgical removal. Many providers only cover mastectomy treatments for carcinoma in situ of the breast. However, Aviva covers mastectomy, partial mastectomy, segmentectomy and lumpectomy as well as other treatments.
- Low grade prostate: For low grade prostate cancer, unlike other providers, Aviva covers all current recognised surgical treatments including hormone therapy, which other providers exclude.
If you are a journalist who requires further information, please contact:
Sarah Poulter: Aviva Press Office: 01904 452828: 07800 691596: firstname.lastname@example.org
Notes to editors:
Aviva provides insurance, savings and investment products to 43 million customers worldwide.
We are the UK’s largest insurer with over 14 million customers and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
We are ranked as one of the UK’s top 10 most valuable brands and Aviva plc are in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index. In 2011 we invested £5.3 million into our communities in the UK, which included 34% of Aviva employees volunteering nearly 33,000 hours for good causes.
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