Aviva has published its claim statistics for 2015 revealing that the insurer paid out 98.9% of life insurance claims, 92.5% of critical illness 92.4% of income protection claims.
The results showed the split on payments between Aviva and Friends Life: 93.5% of Aviva critical illness policies were paid, slightly up from 93.2% in 2014; and 91% of Friends Life policies were paid, compared to 93.3% in 2014.)
Of the claims that were not paid, 1.6% were declined due to non-disclosure and 5.9% for conditions not met.
Together Aviva and Friends Life, which was acquired by Aviva in April 2015, paid more than £500 million to the families of life insurance customers who had died or been diagnosed with a terminal illness last year.
More than £839 million was paid out to individual protection customers and their families in 2015 through claims on Aviva and Friends Life life insurance, critical illness and income protection policies.
A further £303 million was paid out to customers with critical illness, and more than £35 million to customers with income protection (IP) cover.
The statistics reveal that more than 23,000 customers and their families benefitted from life, CI and IP claims during 2015.
This includes more than 15,000 life and terminal illness, more than 4,000 critical illness and just under 4,000 income protection claims.
Statistics for 2015 include:
• The average sum paid to critical illness customers was £74,275.
• The average age of Aviva critical illness customers claiming was 45 years for women (46 in 2014) and 49 years for men (the same as in 2014).
• Cancer remains the most common cause of critical illness claims at 63% of all claims, followed by heart attack (10%), stroke (6%), multiple sclerosis (4%) and total permanent disability or ‘TPD' (4%).
Robert Morrison, chief underwriter for protection at Aviva said: "Being there for our customers and their families when it matters most has been the underlying philosophy for both Aviva and Friends Life protection for many years.
"It has shaped the enhancements we have made to improve our products, to simplify our claims processes, and to our commitment to paying as many claims as we possibly can.
"No one ever wants to claim against this type of policy, but knowing that as a combined group we are committed to paying claims wherever possible will provide customers and their families with the reassurance and comfort they need if they face such difficult times."
Further reading
Louise Colley exits as protection MD for digital role at Aviva
Aviva transforms business protection with CI
Insurers warn that Aviva's Relevant Life/CI plan breaches tax rules
