It has been announced by Legal and General that in 2007 it paid out 110m pounds in critical illness insurance claims achieving a success rate of 88.2 per cent.
The amount that has been paid out has grown from £92.1 million, which according to Bernie Hickman, Managing Director of Protection at Legal and General is further evidence of the company’s progress in bringing down the level of declined claims .
"Customers should have every confidence that insurers will treat them fairly when they make a claim," he said. "We are in the business of paying out much needed money when customers need it most."
Critical illness insurance is intended to provide a cash lump sum payout to people who are diagnosed with a specifies illness, usually not a pre-existing one, to help them if they have to stop working and if their homes require any necessary adjustments.
Legal & General paid out GBP110m in critical illness claims
Financial Services > Income lnsurance > News
Legal & General paid out GBP110m in critical illness claims
Wed, 19 Mar 2008
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