Non-disclosure critical illness rejections on the wane

Published on

Research by protection specialists LifeSearch has revealed that insurers are now paying out on over 88% of all Critical Illness claims on average, compared to just 84% when the last set of LifeSearch figures were published in October 2007

There are two reasons a claim can be rejected: firstly, not meeting the definition, which means the condition isn’t covered by the policy or isn’t severe enough. Secondly, non-disclosure, where the insurer rejects the claim because the client withheld crucial information during the application process

Of these two, non-disclosure has proved to be the source of most complaints. The latest figures prove only 2.5% of claims were declined for this reason. That compares to 8% in the last set of research published in 2007

Matt Morris, senior policy adviser at LifeSeach, said: “There are two important reasons for this fall. The first is the work of the ABI and insurers

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...