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Critical approach paying off

Friends Provident paid out 86.5 per cent of critical-illness claims last year, up from 81.3 per cent tin 2006.

The company says that it declined a third less critical-illness claims due to non-disclosure, which it says is a result of paying a claims proportionately.

It declined 6.5 per cent of claims for non-disclosure, compared with 9.9 per cent in 2006 and declined 7 per cent because the policy definition was not met, down from 8.8 per cent last year.

Head of protection Mark Jones says that for the first time, fewer claims were declined for non-disclosure than for policy conditions not being met. He says: “I am delighted that the three-pronged approach that we have applied to our range of protection products – education, simplification and promoting a culture of fairness – is beginning to pay dividends”The improvement in the number of critical-illness claims paid will help increase consumer confidence in protection products.”

Cancer remained the most common reason for claims last year and the average age of a claimant was 44. The average critical-illness payout was £58,500 and the biggest claim paid was £750,000.

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