Aegon Scottish Equitable says the strain of a recession may be to blame for a marked increase in income protection (IP) claims for stress in 2008.
The insurer says it saw a 12% jump in claims for stress and depression-related conditions last year compared with 2007.
"We can see a number of trends in our figures and the results show a rise in claims in these areas," Aegon claims manager Helen Morris says. "It could be that this increase is linked to the current financial climate."
Aegon says it paid 93% of IP claims in 2008, with non-disclosure the reason for all declined claims.
It announces it has launched a website - Understanding Claims - for advisers and consumers to help avoid non-disclosure. The site (click here) features testimonials from claimants and a number of case studies.
"We continue to encourage advisers to use all the tools available to them in order to encourage full disclosure at the application stage," Morris adds.
The average age of claimants was 42 while the most common reasons to claim were back problems, accidents and mental health issues.
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