Aegon pays 95% of critical illness claims
Aegon paid 95% of individual critical illness (CI) claims in the first half of 2017, maintaining the same level of CI claims that were paid for the whole of 2016.
The percentage of life claims also remains the same as that reported for the total claims in 2016 at 98%.
However the insurer has not published its income protection claims statistics as it is planning to publish these on an annual basis due to a ‘low number of claims.'
Simon Jacobs, head of underwriting and claims at Aegon UK, said:"One of the biggest myths in the protection industry is that providers don't pay claims.
"This is clearly not the case and as a collective we need to share the positive customer stories demonstrating how valuable the right protection can be.
"While we are extremely proud to have maintained the high level of claims payouts reported in 2016 in the first half of 2017, we continue to focus on providing customers with the best experience at point of claim."
Jacobs said regarding income protection claims statistics:"The low number of claims we receive for income protection can impact the figures dramatically, a single decline can make all the difference.
"So while we are currently paying 100% of income protection claims for the first half of 2017, one declined claim could change that story due to the low volumes involved. This is why we usually only report these figures on an annual basis."
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