Health insurance customers may be interested to hear that the amount paid out in critical illness claims by one insurance company has experienced a double-digit year-on-year rise.
According to internal figures from health insurance giant Legal & General, it paid out £92.1 million in critical illness claims during the course of 2006.
To put the figure into context, this is 11 per cent more than the £83 million handed out to people with serious medical conditions in 2005.
Meanwhile, the health insurance company has also revealed that its overall rejection rate fell by 19 per cent during the same time interval.
“We didn’t go into the business of critical illness to reject claims and so our latest experience is good for customers,” remarked Russell Whitworth, claims and underwriting director at the health insurance firm.
“It shows that people can have confidence in critical illness cover.”
Typically, health insurance companies pay out on critical illness protection policies if the policyholder is diagnosed with a potentially terminal ailment.
This may include illnesses as diverse as heart attacks, cancer, coronary artery bypass surgery, strokes, quadriplegia and end-state renal disease.