Aegon UK has today published claims data which shows a total of £123.4 million was paid in claims for life (including terminal illness), critical illness (CI) and income protection (IP), helping more than 1,300 families and businesses in 2016.
Other highlights include:
- A total of £64.4 million paid out for life claims, a 15% increase on 2015.
- A total of £35.4 million paid out for CI claims, a 7% increase on 2015.
- Percentage of life, CI and IP claims paid remains broadly in line with 2015 at 98%, 95% and 85% respectively.
- Cancer was the most common reason for CI (60%) and life (44%) claims, while most IP claims (27%) were due to mental health related claims in 2016.
- 26% of life claims paid early under our terminal illness definition.
Further details can be found here: £123 million in protection claims
