True transparency

Standard Life made a bold move this month by revealing details of its declined claims statistics for its critical illness (CI) and life assurance plans. It is a step that both I and many advisers working in the protection market broadly welcome. For too long now, the industry has been slammed by the national press for not paying claims and for always being on the look out for a way to avoid coughing up the pennies for those in need. It is for this reason that I applaud Standard Life for being brave enough to be the first provider to reveal the reasons behind non-payment of claims. The pr...