| Critical illness cover has become a common | | | | 14 percent of critical illness claims could |
| type of insurance policy in the UK. Many | | | | have been turned down. Around 8 percent may |
| people have bought critical illness cover to | | | | not have met policy definitions while the |
| protect their family in the future or may be | | | | remaining 6 percent could have been due to |
| to secure their mortgage. Research has shown | | | | non disclosure. |
| that combined critical illness policy sales | | | | |
| may have surpassed that of standalone | | | | Another company named Scottish Provident had |
| policies down the years. Most of the | | | | recently issued some statistics concerning |
| accelerated cover sold may have been critical | | | | critical illness claims. Scottish Provident |
| illness related mortgage cover. | | | | affirms that around GBP 169 million may have |
| | | | been paid as critical illness claims. Also, |
| Standard Life, one among the leading | | | | the average amount of money paid as claim |
| insurance companies in the UK had released | | | | might have been around GBP 70,425. The |
| its critical illness claims statistics | | | | claimants had an average age of 42 while the |
| recently. Let's have a look. | | | | average time the policy was in force could |
| | | | have been about 35 months. In addition to, |
| Standard Life may have paid around GBP 9.8 | | | | the illnesses claimed for could be classified |
| million in approximately 184 critical illness | | | | as follows: 55 percent of people suffered |
| claims during the mid of July 2006. It also | | | | from a critical illness such as cancer, |
| stated that the average claim value could | | | | around 13 percent contracted heart attack, |
| have been approximately GBP 53,546. The | | | | nearly 5 percent may have been affected by a |
| biggest amount of claim paid for, may have | | | | critical illness like stroke, about 4 percent |
| been about GBP 300,000. Moreover, 60 percent | | | | may have been victims of Multiple sclerosis, |
| of critical illness claims could have come | | | | approximately 4 percent may have been |
| from people aged between 40 and 59 followed | | | | patients of heart surgery and finally 19 |
| by 32 percent aged between 0 to 39. Also 8 | | | | percent could have contracted other critical |
| percent of critical illness claims could have | | | | illnesses. |
| been made by people over the age of 60. | | | | |
| Furthermore, 52 percent of claimants could | | | | As seen earlier, both companies stated |
| have been women while 42 percent could have | | | | different statistics. But the similarity |
| been men. Finally, two child benefits claims | | | | remains that most critical illness claims may |
| could have been awarded for leukemia. | | | | have been due to cancer. Cancer, more |
| | | | precisely breast cancer is more common among |
| Additionally, Standard Life had also revealed | | | | women. On the other hand, heart attack may be |
| its top five causes for critical illness | | | | the most frequent cause of critical illness |
| claims. The results showed a critical illness | | | | claim among men. Considering critical illness |
| like cancer in the first position with 60 | | | | cover may be a definite advantage especially |
| percent claims followed by heart attack with | | | | to those who are in charge of a family. The |
| 11 percent claims. The other three critical | | | | risk of contracting a critical illness may be |
| illnesses could have been multiple sclerosis | | | | elevated so, you might not gamble with the |
| with 8 percent claims, stroke 4 percent and | | | | fact that this cannot happen to you. |
| benign brain tumour 3 percent. Furthermore, | | | | |