Article date: 3 September 2009
Aviva, the UK’s largest insurer, paid out 744 critical illness claims during the six months to end of June 2009, totalling almost £60 million to people in need, with the average payment increasing to just over £80,000. The company also paid out a further £82 million to the families of loved ones who have died, or been diagnosed with a terminal illness.
Key statistics include:
- Total payments for CI policies were almost £60 million. In total 744 claims were paid during the first six months of the year.
- Aviva paid 89% of all claims.
- The number of claims declined for non-disclosure of medical facts at the policy’s outset was consistent with the full year 2008, at 2%.
- The number of claims declined as the condition claimed for was not covered by the policy was 9%.
- Cancer remains the most common cause of claim at 64%.
Michael Whyte, chief underwriter for Aviva, said: "Critical illness and life policies are the type of policy nobody wishes to need to claim against yet evidence shows that these are vitally important policies that can support families and secure their financial well-being during the worst of times. We are proud that we can make a difference to these families when they need it most, removing financial worries so that they can focus on what is most important to them."
Aviva press office contacts:
Telephone: 01904 452659
Mobile: 07800 693187
Notes to editors:
Aviva, the international savings, investments and insurance group, is the world’s fifth largest insurance group, serving 50 million customers across Europe, North America and Asia Pacific.
In the UK, Aviva is a leading provider of life, pensions, investment, general insurance and health products to more than 20 million customers. Aviva also provides roadside assistance through the RAC. Products are distributed through a number of channels including IFAs, brokers, corporate partners and direct to customers via the internet.
Aviva's UK Insurance business has a market share of around 15%, making it the largest general insurer in the UK. The business is focused on insurance for individuals and small businesses.
Aviva's life and pensions business in the UK has a total market share of 12% and a top three position in its key markets of savings, protection, and annuities.