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Skandia and Scot Prov pay 91% of CI claims

Skandia and Scottish Provident both paid out 91 per cent of all critical illness claims last year.

Skandia says no claims were turned down due to non-disclosure. Cancer made up for 58 per cent of claims, followed by heart attack accounting for 12 per cent and stroke 4.6 per cent respectively.

Scottish Provident paid out 91.3 per cent of claims last year, totalling £94m. The provider says 1.7 per cent of claims were declined due to non-disclosure.
In January, Money Marketing revealed that Skandia head of protection Ian Brown was leaving the firm.

Brown decided to leave Skandia in December due to the closure of Skandia’s Bristol office.

Skandia head of financial planning Colin Jelley says: “It’s pleasing to see that no claims were rejected due to non-disclosure. We have put a lot of time and effort into ensuring our application process makes it is as clear and easy as possible for people to provide us with all the information we need to effectively underwrite each policy.”


Gilliat locks in growth

Gilliat Financial Solutions has created a FTSE 100 linked structured product that provides growth of up to 61.5 per cent through a lock-in feature over a term of five years and three weeks.


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