Recently released claim statistics for Aegon have shown that 72% were paid out overall last year. Across all product ranges, Aegon-owned Scottish Equitable Protect paid out 82% of claims in the year to September 30th, with payouts totalling £22 million. Of the 18% that were declined, 83% were rejected on the grounds of non-disclosure, with the rest rejected because clients illnesses didn't meet policy definitions or a policy exclusion applied.
Guardian Financial Services, now part of Scottish Equitable, paid out 99% of claims, totalling £501 million. Less than 1% of claims did not pay out, with most rejected for non-disclosure, while the remainder were for claims outside the policies cover or policy exclusion.
Our view
Excellent claims payment records.