New statistics from BUPA have revealed that as many as 21% of their claims for critical illness are declined. The figures showed that the most common reasons for refusal, (13.1%), were claims not meeting the policy definition, while non-disclosure of medical conditions accounted for 8.4% of claims. The average duration of BUPA critical illness policies being in force was 33 months, and the average benefit was £79,000.
Our view:
Let's be positive about this! This means that 79% of claims were actually paid. Critical Illness protection is an extremely valuable type of cover as at least 1 in 3 of us will actually suffer a 'claimable' illness before we reach 60. Need a quotation? Get an online quotation now.