Advisers praised as paid crit illness claims rise

Since Skandia launched its critical illness contracts in 1991, 2033 claims have been paid equating to £195m. Only 2% of claims are declined due to non-disclosure and 9% rejected due to the definition of illness not being met. The most common condition remains cancer, accounting for 51% of claims, flowed by heart attack 13%. For females, 58% of cancer claims were for breast cancer; while 15% of male cancer claims were for prostate cancer – of which 59% was a low-grade cancer. The claimant’s average age is 47 and policies were in force on average 4.8 years before a claim was made. ...