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Article: Standard's declined list falls.(Standard Life)(Brief article)
- Article from:
- Financial Advisor
- Article date:
- May 3, 2007
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Standard Life declined less than half of the critical illness claims in 2006 than it did in the previous year, it has announced.
It reported that it declined 7.5 per cent of critical illness claims in 2006, compared with 18 per cent in 2005. The company said it was too early to know whether this was the start of a trend.
It paid out 360 claims to a total of AGBP18.7m, with an average claim of AGBP52,138, rising to AGBP500,000 at the top end of the scale.
Mick James, protection marketing manager for Standard Life Assurance, said: "Our work to improve the questions being asked on application forms and the additional warnings highlighting the need ...