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

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...

£1 billion lost annually as 50,000 London social homes used fraudulently

A shocking new report reveals that around 50,000 social housing properties in London are...

Other news

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...