What kind of people tend to claim?

Standard Life is one of the biggest critical illness providers and its annual analysis of claims makes sobering reading. Six out of ten people whose claims are met are aged between 40 and 59 while a shocking 32 per cent of claims are paid to those 39 or younger. Cancer remains the biggest reason for claims, accounting for six in ten payments. Heart attacks made up one claim in ten, multiple sclerosis accounts for 8 per cent of them, strokes for 4 per cent and benign brain tumours 3 per cent. Standard Life says its average payout in 2006 was for £53,546 with its largest payment £300,000.



Friends Provident Reduce Decline in Critical Illness Claims

Friends Provident says its year old stance and non disclose has helped to reduce the number of declined critical illness claims by around a third during the last twelve months.

Since the start of 2007 the company has pledged to pay a proportion of critical illness claims where unrelated non-disclosure had occurred.

Last year 6.5% were declined compared to 9.9% in 2006, 7% were declined because the policy definition was not met though this figure too had dropped from 8.8%.

Friends Provident say that 86.5% were paid, up from 8l.3% In 2007 cancer was the most common critical illness claim.

The average payout is over £58,500 and the average age of claimants is 44 years. The largest individual claim paid last year was for £750,000.