Aegon paid 96% of life claims in 2019

£148.1m in total

Adam Saville
clock • 3 min read

Aegon paid a total of £71.5m (96%) in life claims to 711 families and businesses in 2019

Aegon paid a total £148.1m in protection claims in 2019 - and 96% of life claims. The average size of life claim paid by Aegon last year was £100,619 and the average age at claim was 63 years old. Cancer was again the most common cause of death (43%), followed by heart-related conditions (23%). Of the life claims declined in 2019, 3.5% (75%) were due to misrepresentation and 0.5% were declined due to not meeting the definition. Terminal illness Aegon separately assessed its terminal illness (TI) claims - paid out on a diagnosis where life expectancy is 12 months or less - and 23...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Individual Protection

The COVER Review: Claims and underwriting, employer NICs and health checks

The COVER Review: Claims and underwriting, employer NICs and health checks

Week commencing 31 March

COVER
clock 04 April 2025 • 1 min read
British Friendly pays out £5 million in 2024

British Friendly pays out £5 million in 2024

86% of all IP claims paid

Jaskeet Briah
clock 03 April 2025 • 2 min read
Claims and underwriting: Securing life cover after breast cancer

Claims and underwriting: Securing life cover after breast cancer

“Don't take the initial decision at face value”

Jaskeet Briah
clock 02 April 2025 • 6 min read