Norwich Union paid out £80m for claims on critical illness last year. The average payout was £73,000 and a typical policy was in place for less than four years. The reason for a payout was cancer, followed by heart attacks, multiple sclerosis and strokes.
To help with non-disclosure of conditions Norwich Union have introduced a full disclosure fact sheet in all of the information packs.
Our view
Rates for critical illness are increasing and the level of claims will increase as more and more of us have the cover, particularly when linked to our mortgage protection.