AIG Life paid 99% of life claims in 2017

AIG Life has revealed that it paid 99% of life claims (up from 96% in 2016) and 93% of CIC claims (up from 92.3% in 2016), with the highest pay-outs sitting at over £5m for life, £765,000 for CIC and £459,000 for terminal illness. The average age at claim was 64 years for life, 59 years for CIC, 3.5 years for children's CIC, while cancer claims accounted 45% for life, 60% for CIC claims, 96% for terminal illness and 27% of children's critical illness claims. "Publishing our life and critical illness claims stats is essential to help the industry and advisers build trust with customers...